First National Bank in Spearman and Bank of the Panhandle in Guymon are excited to announce their intent to merge and become Panhandle First Bank. The two banks have frequently partnered over the past 39 years to serve our communities, and we are ready to officially become family. The banks have targeted a second quarter 2024 merger, pending regulatory and shareholder approval.
The combination of these two locally owned community banks will combine our efforts to build community one relationship at a time. Our shareholders and team members have lived and worked in the Panhandle – many of us are living out legacies started by our great-great grandparents who settled in the area five generations ago. We know the grit and determination that it takes to thrive in the Panhandle, and we know that success comes when we work together. We are better together, and we are committed to building the Panhandle for future generations.
Bank of the Panhandle opened in October 1976 in Guymon, Oklahoma. By 1979, the bank was purchased by a group of investors, including the Baggerly family, the Long family, and the Etling family. All three of these families are still shareholders today. One of the board members at that time was Max Baggerly of Spearman, Texas.
Just a few years later a new charter was issued for a bank in Spearman. Bill and Ginger Pittman and a large group of community investors, including Max Baggerly, came together to open First National Bank in April 1985.
Max served as a board member of Bank of the Panhandle and First National Bank from the day First National Bank opened until he passed away in 2007. At that time, his son, Steve Baggerly, Chairman of the Board at Bank of the Panhandle, stepped onto the board at First National Bank. “Working in Guymon and serving on the board in Spearman gave us the opportunity to determine what worked best between the locations,” Steve Baggerly said. “Whenever I believed First National had a better process than ours, I adopted it. They did the same, so we’ve been aligning policies and procedures for seventeen years.”
In 2011 Sally Pittman Hawkins, Bill and Ginger’s daughter, joined Bank of the Panhandle. Hawkins came to the bank by way of brief careers in public accounting and law. She recalls, “My heart was in community banking. I grew up inside First National Bank, and as I got older, I realized the critical role that locally owned, community banks play for small communities. I wanted to be part of that, so I was looking for a bank to join, and Steve was looking for a CFO. I moved to Guymon, and Steve taught me how to be a banker.”
In 2012, Bill joined Bank of the Panhandle’s board, and in 2016 Ginger joined the Panhandle Bancshares board of directors. Over the past 12 years, these banks have continued to leverage each other’s strengths to better serve their respective communities. As the years passed, the banks continued to grow together in strategic vision and in values, and it became obvious that we are better together.
Customers can expect the same great people in the same locations serving their needs, but we will offer additional products and new technology advancements. “When you call us, the same people you’ve always known will answer the phone,” Bill Pittman said. “We believe the customer signs our paycheck, and that people bank with people. We are excited to expand our service area through this merger, and we would love the opportunity to earn your business.“
Our banks exist to build community. As we combine forces, we are excited to continue building our local communities with community involvement, financial education opportunities, and standing by our customers through the highs and the lows. Come see us and discover how we really are better together.
For more information, please contact Sally Hawkins, CEO & President, at 806-316-1177.