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Western Bank
WESTERN BANK GROWN LOCAL, SERVING LOCAL
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Reliability is a cornerstone for any successful business and Western Bank has a long history of exactly that – being reliable. In business since 1907, it’s the people of Western Bank that have developed and shaped the character of this local community bank. The initial stockholders made many sound business decisions that brought the bank through the early years, but for the past 90 years the bank has been, and still is today, under the steady influence of the Robert C. Martin family.
In 1907, New Mexico was still only a United States Territory. Businessmen John McCabe, Frank R. Coon, and W.H. Small led 14 investors to open the doors of First National Bank of Lordsburg in Lordsburg, NM, the small town that would eventually be known as the state’s “Bootheel.” First National Bank of Lordsburg (FNBL) shared space with Eagle Drug Mercantile Co.
During the Depression, many banks closed their doors for good and FNLB was the only bank in the region. During this period, many people tried to deal in cash as much as possible but checks were still common. With the absence of an operating bank, Howell Drug Store in Silver City, NM became a collection point for banking business. “Transactions” were then shuttled to Lordsburg for processing. Eventually banks in the region reopened, but the services offered by FNLB helped solidify a reputation for reliability that still exists today.
Robert C. Martin was a businessman with a background in ranching and understood the needs of the agricultural community. He began buying stock in the 1930’s and eventually became the majority stockholder. In 1946, he became a member of the Board, a position he would hold for 50+ years. He had a knack for a good judge of character, finding the good in people, and how to have people get along. These attributes served him well during his tenure as a State Representative
from 1952 – 1970. Later in the 1950’s, he became the Bank’s Board Chairman and held that position for 40 years.
In 1986, First National Bank of Lordsburg changed its name to Western Bank and in December of 1988, Robert C. “Bob” Martin, Robert C. Martin’s son, became the Vice-Chairman of the Board after a career with the FBI. In January of 1989 Bob Martin began his 10 year leadership as Western Bank’s Chief Executive Officer.
Later in 1999, Michael “Mike” Martin, Bob Martin’s son joined Western Bank. Mike graduated from Texas A&M ’87, with a degree in Agriculture Economics, Minor in Finance and earned a Master’s degree in Banking from Louisiana State University. He represents the third generation of Martin’s leading the homegrown community bank.
In 2003, Western Bank opened the Silver City Branch to continue the reputation of the local community bank committed to serving neighbors and supporting the growth of local economy. In 2007, Western Bank celebrated 100 years!
Western Bank had been serving rural communities in southeast Arizona for decades because the closest bank was in Lordsburg. The opportunity arose to apply for a charter to open a full-service branch in Willcox in 2010. They opened in June 2011.
Again, an opportunity arose for Western Bank to open a branch in Bisbee in 2012 to serve even more of the rural communities in Cochise County. The bank building in Bisbee was built in 1902 and has always served as a bank. The 1955 Western movie Violent Saturday has several scenes filmed inside. It mostly looks the same today.
The bank’s 4 branches partner with over 10,000 customers. Western Bank financial statements consists of over $72 million in loans, deposits over $160 million, capital of $22 million, and assets over $185 million. Since its inception in 1907, Western Bank’s mission has been to serve the banking needs of southwestern New Mexico and southeastern Arizona with a focus on the backbone of our communities, individuals, and locally owned businesses. A core element in this effort is to support youth in the community and invest in their future. That commitment is illustrated through the Scholarship Program, which celebrates its 30th anniversary this year! Every year, Western Bank provides two scholarship applications to 9 area high schools in the region each branch is located. This year, nine students were awarded and $8,000 was distributed to invest in students’ goals of furthering their education.
Another way the bank tangibly supports their communities is through the Bootheel Foundation. Created over 22 years ago, the foundation has funded in excess of $548,000 in donations to community efforts in the areas serviced by Western Bank. Every employee, director, and officer of the bank contributes to the Foundation to support this mission. Western Bank also has a “Levi Fund” that is funded directly by employees to assist fellow employees and customers during times of need. Examples are anything from assisting with funeral expenses to helping pay for a new set of teeth.
During the early 2000’s, the bank decided against following the trends in the financial system as a whole. Avoiding predatory lending practices, and deciding against investments in obscure assets, the bank was able to enter the financial meltdown in 2008 in a position to weather the storm. During the fallout from the financial meltdown in 2008, the bank believed that it was vital to remain an independent, well capitalized, and conservatively run institution. The bank made a point of becoming even financially stronger, and never received any assistance from any governmental entity. The employees, shareholders, board, and management simply continued to serve its customers and communities.
We understand the challenges and opportunities in rural southwest New Mexico and southeast Arizona because we were grown from the very same soil. That is what sets us apart from our competitors. We know the people and the communities we serve and we support endeavors that other financial institutions might turn away. Bank products are bank products. We nurture relationships that blossom into partnerships.
