The Whitewright Sun
Thursday, January 7, 1932
pg. 1

Whitewright Banks are Consolidated
For forty years Whitewright had two strong banking institutions, but on December 31, 1931, they were merged and the merger gives Whitewright one of the strongest banking institutions in this section of the state with total resources of $939,701.01 and with over a half million dollars on deposit.
The Planters National Bank, which was established as a private bank in 1889 and was nationalized in 1903, was merged with the First National Bank last Thursday.  The First  National Bank was organized in 1892 with a capital of $50,000.000.  Since this time the capital has been increased to $100,000.00 and a surplus fund of $100,000.00 built up.  The $50,000.00 increase in capital and the surplus fund were created from the earnings of the bank during this period.  In addition the bank has paid an annual dividend with few exceptions since it was established forty years ago.  In the early history of the bank earnings were placed in the surplus fund at stated times until the surplus fund account equaled the capital.
During the forty-three years the Planters National Bank was in business it built up a surplus fund of $20,000.000 and passed paying a dividend only a few times.  Up to the time of the merger Whitewright was the only Northeast Texas town its size that boasted of two strong banking institutions.  The only towns in this section of Texas that have two banks now are Greenville, Sherman, Denison, McKinney, Bonham and Paris.
The First National Bank will continue under its $100,000 capital and $100,000.00 surplus.

BOTH IN GOOD CONDITION
The business of both banks was in excellent condition when the merger was made and the institutions were declared to be among the soundest in Texas.  The merger was effected in order to eliminate overhead expenses, which will enable the one institution to make a fair return on its capital.  Under present conditions two banks with $100,000.00 capital each in a town the size of Whitewright were not able to make a fair return on their capitals, but under the present plan, with reduced expenses, one bank will be a paying institution and as sound as it is possible for a bank to be.  It is the general opinion of business men and farmers generally that Whitewright bankers used good judgment when they decided to consolidate the two banks.
Officers and directors of the First National Bank are all retained, with the addition of Guy Hamilton, former president of the Planters National Bank, and H.G. Webster, former cashier, as vice president and assistant cashier, respectively.  The officials of the bank are: W.H. King, president; F.E. Douglas and Guy Hamilton, vice presidents; R.A. Gillett, cashier; H.G. Webster, T.J. Lilley, C.B. Bryant Jr. and W.T. Simmons, assistant cashiers; directors, C.B. Bryant, Sr., W.H. King, F.E. Douglas, T.E. Sears, Kay Kimbell, Emmet Penn, J.B. King, R.T. Pennington and J.M. Wright.

The Whitewright Sun
Thursday, August 12, 1971
pg. 6

FIRST NATIONAL HAS HAD THREE PRESIDENTS
The First National Bank has had three presidents since it was organized forty years ago, Dr. D.M. Ray, deceased; C.B. Bryant, Sr., and W.H. King.  Guy Hamilton, who was president of the Planters National Bank, was connected with that institution for over thirty years.  He was made president following the death of the late Senator D.S. McMillin, who was president of the bank for a number of years.  Mr. Webster started his banking career with the Planters National Bank some twelve years ago and gradually worked his way up to the cashiership.
The statement of the First National Bank appears on another page in this issue of The Sun.  Turn to it and read it.  This statement will convince anyone that Whitewright has a strong banking institution.  It has in cash and quick cash asssets $471,080.23 with deposits totaling $536,082.09.  These two items show that the First National Bank is in position to pay every depositor his money on short notice, if it became necessary.  This is a condition that attracts the attention of bankers over the state and elsewhere.  The people of Whitewright and section have known all the time that their money was safe in Whitewright banks, and now they have more reason to feel secure since the banks have merged.

PAY DIVIDEND
On December 31^st the First National Bank mailed dividend checks to its stockholders.  The checks represented a six per cent dividend on the capital stock, which is $100,000.00.