Texas: Fannin Bank is Banking on Bonham

Economic development is going strong in Bonham, where a $17.5-million restoration of the historic 1888 Fannin County Courthouse is underway downtown. In addition to that major renovation, Bonham-based Fannin Bank has been working on two projects that are already changing the landscape in the county seat.

The bank’s new mortgage and operations center will open in September, and Fannin Bank is also putting the final touches on the first pocket park in downtown Bonham. Pocket parks, also known as parkettes or mini-parks, are developed on small lots of land accessible to the general public.

According to a report from North Texas e-News, the bank’s Bonham branch was constructed with Austin stone, and that theme continues in the architecture of the mortgage and operations center, as well as the pocket park.

Bryan Peeler, chairman of Fannin Bank, and Allen Sanderson, Fannin Bank vice chairman and CEO, explained to North Texas e-News why the construction of a mortgage and operations center was necessary: “Due to the growth that our bank has experienced over the past few years, it became evident to our board and management that our current banking facility would not meet the need for additional office space that is required.”

Fannin Bank, the only locally owned and managed bank in Fannin County, was founded in 1921 as Guaranty State Bank in Windom. The name was changed to Fannin Bank in 1976 and a branch office opened in Bonham in 1987. The company serves customers in the North Texas communities of Bonham and Honey Grove.

Published by Bankers Digest August 6, 2018