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Armstrong Bancshares
By LaTour Genealogical Collection
1 Corporate History | 2 Foundation | 3 Expansion | 4 References
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Armstrong Bank
Corporate History
Since 1909, Armstrong Bank has been apart of
eastern Oklahoma.
Armstrong traces its
beginnings to the First State Bank of Vian,
Oklahoma.
* Armstrong Bank has been a family owned bank
since 1922. Bank founder Robert Walker
Armstrong came to Oklahoma Territory from
Kansas in
1890. He attended the University of
Oklahoma from 1897 to 1898 and later
finished
his education at the Indianola Business
College in Ardmore.
* Glen Armstrong, first began working for the
family bank in 1937. He remembers part of his
early job duties included cleaning
the
spittons in the lobby and offices.
*
Foundation
In 1996, Vian State Bank of Oklahoma, a state chartered bank since 1909, announced the name of the bank will change to Armstrong Bank[4].
Armstrong Bancshares is an Oklahoma corporation and registered bank holding company under the Bank Holding Company Act of 1956 (12 U.S.C. ?? 1841, et seq.) with its principal office in Vian, Oklahoma. Armstrong Bank is a wholly owned subsidiary of Armstrong Bancshares and its main office is also in Vian. Vian is located in Sequoyah County, Oklahoma.
Expansion
The bank, which consisted of one branch in Vian until December of 1983, has grown to a fourteen-location bank with banking facilities in Bartlesville, Checotah, Gore, Keys, Muldrow, Muskogee (2), Sallisaw, Stilwell, Tahlequah (2), Vian, Wagoner, and Warner.
The Muskogee Banking Market
The Muskogee, Oklahoma Banking Market is defined as including the Muskogee RMA and the remainder of Muskogee County; all of Cherokee County; the town of Wagoner in Wagoner County; and the town of Checotah in McIntosh County Vian State Bank, Vian, Oklahoma, CFR, 1996, reaffirmed in BOK Financial Corporation, Tulsa, Oklahoma, 1999).
Superior Federal Bank - Fort Smith, Arkansas
Superior Federal Bank, a Fort Smith, Arkansas financial institution was under the umbrella
of Boatmen's Bancshares family tree of banks.
In March 1996, Vian State Bank became the new owners of a Muskogee and Tahelquah
branch of Superior Federal Bank, the proposal was approved by the Federal Reserve.
Superior Federal sold its 1111 West Broadway location in
Muskogee, Oklahoma. The company retain its branch
at 715 North York Street. The 1111 West Broadway location was the home office of
the failed Cimarron Federal Savings and Loan Association of Muskogee, Oklahoma.
Superior Federal was the receiver of the failed savings and loan.
"When the parent company Boatmen's acquired Bank IV in Muskogee,
it made Boatmen's over the limit of the market share that they could own in Muskogee
and Tahlequah.
Armstrong Bank - Checotah
Armstrong Bancshares, a bank holding company, and its subsidiary Armstrong Bank, both of Vian, Oklahoma, applied for approval from the Banking Board under 6 O.S.Supp.1997 ? 502(H) to organize and charter an interim state bank for the purpose of merging it with Armstrong Bank and establishing the surviving bank as a branch of Armstrong Bank in Checotah, Oklahoma. The Board granted the Applications and Peoples National Bank of Checotah.
Ironhorse Financial Group Inc. - Norman, Ok
December 2006, Ironhorse Financial Group, Inc., Norman, Oklahoma, to become a bank holding company through the acquisition of 100 percent of the voting shares of Republic Bank & Trust, Norman, Oklahoma. Ironhorse Financial Group, Inc., to acquire 100 percent of the voting shares of Armstrong Bancshares, Inc., parent of Armstrong Bank, both in Muskogee, Oklahoma.
Reference
1. ^ OKLAHOMA BANKS CLOSED; State Concern Forced to the Wall by Failure of National Bank.
2. ^ L.R. Kershaw, who had been appointed receiver of the defendant bank, was made a party to the suit.
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