Established in Floydada in the 1890s as the James B. Posey Bank, this institution became the Floyd County Bank in 1900 when L. T. Lester joined Posey as a partner, and in 1903, after receiving a federal charter, it was renamed First National Bank. Lester served as its first president, and the original stockholders included Posey, Lester, Columbus Surginer, Will W. Nelson, R. C. Andrews, J. R. Burrus, and John N. Farris, who succeeded Lester as president in 1911. Since 1912 the bank has occupied this site and has played an important part in the development of Floyd County.