About Us
 Security First National Bank has proudly
served the community for over 75 years and has been meeting the
financial needs of families for many generations.
At Security First National Bank we are happy to serve our customers
at our full service bank in downtown Hugo. Also, we have a new and
exciting branch facility which can meet many of your needs. We can
provide 24 hour service with our TeleBank and also our recently
introduced online banking services. Our employees make every effort
to ensure that each customer is satisfied with quality service and
friendly hometown hospitality.
If we can provide you with any service contact Security First
National Bank at (580)326-9641.
"Helping to Build a Better Community"
Bank History
The first stockholder's meeting of of Security State Bank was held
on December 27, 1929 and the bank opened its doors for the first
time on January 7, 1930. The first employees were as follows: J.M.
Cecil - President, R.C. Newton - Vice President, Jake Cobb, Dale
Eddleman, and Lucy Edinger. In 1933 R.C. Newton was elected bank
president. At that time, the president was authorized to make loans
up to $75.00 and any loans over that amount had to be approved by
the discount committee or brought before the Board of Directors.
In 1933 the total budget expense was a mere $7,960.35. The
president's annual salary was $1,800, which broke down to $150 a
month. The remaining employees made anywhere from $420 to $1,680 a
year. In the following year of 1934, Security State Bank declared
and paid its first dividend at 3%.
In April 1937, bank deposits were first insured by the Federal
Deposit Insurance Corporation (FDIC) to a maximum of $5,000. Ten
years later, in 1947, Security State Bank was authorized to commence
business by the National Banking Association, as Security First
National Bank of Hugo, Oklahoma.
|
