Roscoe State Bank was named the 2012 Business of the Year at the 48th Annual Chamber Banquet on Monday, Sept. 24, 2012.
Last year's Business of the Year, Wind Energy Turbine Services (WETS), made the presentation for the 2012 Business of the Year, Roscoe State Bank. Reece McCain made the presentation.
"In 1906, Theodore Roosevelt was President of the United States. The Model T by Ford wasn’t in production yet. People haven’t ever heard the term World War. But in early December of that same year, this 2012 Business of the Year opened its doors for the first time 106 years ago," he stated.
Located on the north side of Broadway, between Cypress and Main Street, one of Nolan County’s oldest businesses was formed with an issuance of $20,000 in Capital Stock by its first Board of Directors.
"These seven men created an establishment whose core belief was to create a special business family, comprised of special employees that have a relentless dedication of executing the strategies set forth by the leadership of the Board of Directors — leadership that has maintained these core values with a strength and depth of senior management, and fully supported by an excellent staff. Both of which, has played an integral part of overall success for Roscoe State Bank in over a century of business."
Roscoe State Bank had five presidents over the first 70 years of operation, and in 1976, a group led by Clyde Jay purchased controlling interest, with Mr. Jay serving as the bank’s sixth president. "Throughout the 1980s, despite sub-par cotton crops, falling energy prices and real estate values, and an unprecedented interest rate environment which led to record numbers of bank closings, under the direction of Mr. Clyde Jay, the Roscoe State Bank continued to grow and prosper through the decade."
In 1990, Mr. Clyde Jay’s son, John Jay, was elected, and is at present, the bank’s seventh president. Clyde Jay assumed the role of Chairman of the Board, a position he maintained until his death in 1994, thus concluding a total of 55 years of service to the bank.
"In September of 1996, under the vision of the Board of Directors, the Roscoe State Bank opened its first branch, right here in Sweetwater," stated McCain. "In only just 10 years, the growth of the Sweetwater branch more than doubled the size of the banking assets in Nolan County for Roscoe State Bank. So in June 2004, the bank developed an interest, and succeeded, in opening another branch in Bastrop, Texas, with a strategic goal of diversifying the bank’s assets into two separate cultural and economic environments. With unprecedented success in Bastrop, the strategy not only resulted in strengthened Nolan County banking locations, but proved results for even stronger and more diversified growth in years to come."
He continued, "Success is measured in not only financial and business ledgers, but in having the ability and desire to give back to the communities who support your success. Roscoe State Bank maintains this standard, and even goes beyond the measure, in its local support."
Donations include The Nolan County Foundation, Nolan County Crime Stoppers, Nolan County Stock Show, The American Heart Walk, The Relay For Life and any more organizations that help build the community.
"The success that Roscoe State Bank has had in multiple markets, cultures and economic environments can only be attributed to a strong, visionary leadership and a committed, outstanding staff. With a joint determination, the only trend to be expected in the foreseeable future, is more success."