Waggoner National Bank

What Waggoner National Bank does

Waggoner National Bank of Vernon is a privately held national bank chartered by the Office of the Comptroller of the Currency on July 3, 1899, operating two physical branches in Vernon and Electra, Texas, with a headcount of 101-250 employees. The bank serves individuals, small and medium businesses, local farmers and ranchers, and trust/fiduciary clients in Wilbarger County and surrounding West Texas markets, with deposit, lending, merchant, and estate services as its core offerings.

The product portfolio is organized into personal banking (checking tiers including Rewards Checking at up to 2.02% APY, savings, money market, CDs, IRAs, mortgage, home equity, auto, and personal loans, plus overdraft coverage) and business banking (business checking, savings, money market, commercial and agricultural loans, merchant services with Visa/MasterCard processing and ACH/NACHA, and cash management). Trust Department services cover estate execution, living trusts, retirement plan administration, and guardianship, accessed via the FIS Global portfolio platform. The technology stack is conventional community-bank infrastructure: a third-party digital banking platform (CSI) powering online banking and iOS/Android mobile apps, contactless debit card support across Apple Pay, Google Pay, and Samsung Pay, and integrations with Quicken, QuickBooks, and Money for statement download, plus NACHA and EFTPS for business payments.

The bank generates revenue through four primary streams: net interest income on its loan portfolio (mortgage, commercial, agricultural, auto, personal), deposit account fees (monthly service charges, $27.50 per-item overdraft fees, ATM fees), trust and fiduciary service fees, and merchant services transaction fees. Go-to-market is relationship-based community banking with local decision-making, in-branch account opening, and a defensive digital layer. The bank holds a 5-star Bauer Financial rating awarded in 2023 and is FDIC-insured, but discloses no enterprise customers, no acquisition activity, no AI capabilities, and no plans for geographic or product-line expansion.

Name

Waggoner National Bank

Legal name

The Waggoner National Bank of Vernon

Website

https://wnbvernon.com

Company type

Private

Founded year

1899

Operating status

Operating

Headcount range

101–250 employees

Short description

Waggoner National Bank is a privately held national bank chartered in 1899, operating two branches in Vernon and Electra, Texas, serving local consumers, small businesses, farmers, and trust clients with traditional deposit, lending, merchant, and fiduciary products.

Ownership category

akta.pro rank

Headquarters

HQ city

Vernon

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income: Interest earned on loans including mortgage, commercial, agriculture, auto, and personal loans
2. Deposit Account Fees: Monthly service charges, overdraft fees ($27.50 per item), ATM fees, and other account-related fees
3. Trust Services: Fiduciary services including executor of estates, trustee under wills, living trusts, retirement plans, and estate planning
4. Merchant Services: Visa/MasterCard merchant processing services for business customers

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

Waggoner National Bank is a community bank chartered in 1899 that delivers a full suite of personal and business banking products from two branches in Vernon and Electra, Texas. Its core offering includes deposit products (checking, savings, money market, CDs, IRAs), personal and commercial lending (mortgage, home equity, auto, personal, agricultural, and operating loans), merchant card services, cash management with ACH origination, and a Trust Department providing estate administration, trustee, and investment agent services. These products are delivered through physical branches, online and mobile banking channels, and contactless payment options.

Product overview

Waggoner National Bank offers a comprehensive suite of traditional banking products organized into two main categories: Personal Banking (checking, savings, loans, trust services) and Business Banking (checking, savings, loans, merchant services, cash management). The core banking platform is supplemented by digital services including Online Banking, Mobile Banking (iOS/Android apps), and Online Billpay. Trust Department services are accessed through FIS Global's portfolio platform. Business customers benefit from Cash Management with ACH/NACHA capabilities and integration with Quicken/QuickBooks. Fraud prevention resources round out the service portfolio. The bank operates two physical branches (Vernon and Electra, Texas) and is FDIC insured.

Differentiator

Problem solved

Functional benefit

Products and services

• Basic Checking Non-interest bearing personal checking account with $50 minimum to open, $500 minimum balance to avoid the $5 monthly service charge, free online banking, and Overdraft Privilege up to $600.
• Rewards Checking High-yield personal checking account earning up to 2.02% APY on balances up to $25,000 (0.25% above $25,000) with ATM fee refunds up to $25 per cycle when qualification requirements are met.
• The Club Checking Premium personal checking account with free personalized Club checks, free money orders and cashier's checks, free safekeeping of wills, $10,000 AD&D insurance, and $20,000 airline insurance for $8.50 standard or $10.50 family monthly service charge.
• Senior Advantage Checking Interest-bearing personal checking for customers aged 60+ with $50 minimum to open, $2 monthly service charge (waived with $250 minimum balance), free cashier's checks and money orders, and a $10 safe deposit box discount.
• Super WIN Checking Interest-bearing personal checking account with $10 service fee waived on $1,000 minimum balance, free money orders, and free cashier's checks.
• Business Checking Business checking account with unlimited check writing, free MasterCard debit card, free BillPay, free e-statements, and account analysis for service charge determination, designed for small and medium local businesses.
• Consumer Savings Interest-bearing personal savings account with ATM card, mobile banking, and FDIC insurance protection.
• Money Market Account Interest-bearing money market account with market-rate yields and three free withdrawals per statement cycle, requiring $1,000 to open.
• Money Market Max High-rate money market savings account for large cash amounts, requiring $250,000 to open.
• Certificates of Deposit (CDs) Fixed-rate term deposits ranging from 3 months to 5 years with competitive yields based on deposit amount and term length.
• Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings accounts with FDIC insurance coverage up to $250,000 for certain retirement accounts.
• Business Savings Business savings account with quarterly interest, $100 minimum to open, free ATM card, and free notary services.
• Business Money Market Business money market account with variable rate, monthly interest, $1,000 minimum balance to waive fees, and three free withdrawals per cycle.
• Online Banking Encrypted web-based banking platform allowing customers to check balances, transfer funds, monitor account activity, download statements, and import data into financial software.
• Mobile Banking Mobile banking service accessible via text message, web browser, or dedicated phone app for iPhone and Android devices, offering account viewing, transfers, bill payment, and mobile check deposit.
• Online Billpay Online bill payment service allowing scheduled, recurring, or one-time payments with reminders and bill alerts.
• Cash Management Internet-based commercial banking service providing 24/7 account access, transfers, balance reporting, ACH origination, sub-user administration, direct deposit payroll, EFTPS tax payments, and statement viewing.
• Merchant Services Visa/MasterCard merchant account services including ACH credit/debit origination, wire transfers, direct deposit, EFTPS, NACHA file imports, and night deposit bags for business customers.
• Mortgage Loans Home financing including conventional mortgage loans with simple application process and minimal fees.
• Home Equity Loans Fixed-term loans using home equity as collateral for major purchases, with potential tax advantages.
• Home Improvement Loans Loans for home repairs, renovations, and construction projects with competitive rates and flexible terms.
• Auto Loans Vehicle financing for new and used cars and trucks with low interest rates and full-service loan processing.
• Personal Loans Unsecured personal loans for vacations, vehicles, boats, and other personal needs with competitive rates and flexible terms.
• Commercial Loans Loans for commercial property purchase, construction, improvement, refinancing, operating capital, and equipment for local businesses and farming/ranching operations.
• Agriculture Loans Financing for agricultural equipment, production costs, and land with local lenders who understand West Texas farming needs.
• Trust Department Services Fiduciary services including executor of estates, trustee under wills, trustee of living trusts, trustee of retirement plans, estate planning, guardian services, trust agent, and investment agent, accessed via FIS Global's portfolio platform.
• Overdraft Protection Automatic transfer service linking checking to another deposit account to cover overdrafts, with a $5 transfer fee and $2 monthly fee.
• Overdraft Privilege Discretionary overdraft service allowing accounts to be overdrawn up to $600 for personal or $750 for business accounts, with a $27.50 fee per item.

Quantifiable outcome

• 5-star Bauer Financial rating awarded 2023
• +2 more outcomes

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

Feature3 records

Scale indicators4 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• Happy State Bank: Texas-headquartered community bank offering personal, business, agricultural, and digital banking across rural and small-town Texas — directly comparable in product mix, agricultural lending focus, and community-banking model.
• FirstBank Texas: Texas community bank with full-service personal and business banking, including ag lending and digital channels — closely comparable community bank operating across small-town Texas markets.
• Legend Bank: North Texas community bank serving small/rural communities with personal banking, ag lending, mortgages, and digital banking — close peer given comparable geography, products, and customer segments.
• Citizens National Bank (Texas): Texas community bank providing personal, business, and agricultural lending to small towns — direct peer given overlap in target customer base, agricultural loan products, and community-bank footprint.
• First United Bank: Texas-Oklahoma community bank with personal/business banking, ag lending, and digital channels — comparable small-town, multi-branch community-bank model with similar product breadth.
• Extraco Banks: Central Texas community bank with personal, business, trust, and ag lending services — directly comparable diversified community-bank model with a meaningful trust-services component.
• Vista Bank: Texas community bank focused on business and personal banking, including agriculture lending — comparable community-bank product suite and Texas-focused footprint.
• FirstCapital Bank of Texas: Texas-headquartered community bank providing commercial, personal, and ag lending to small and mid-sized markets — closely comparable community-bank commercial focus.

Broad incumbents

• PlainsCapital Bank: Larger Texas commercial bank owned by Hilltop Holdings offering personal, business, wealth, and commercial banking — broader regional incumbent competing in many of the same Texas small-town markets.
• International Bancshares Corporation: Texas-based multibank holding company (International Bank of Commerce) operating across Texas with full-service community banking — broader incumbent with similar personal/business/ag banking model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/wnbvernon
• Facebookfacebook.com/Waggoner-National-Bank-1275027475887960
• LinkedInlinkedin.com/company/the-waggoner-national-bank-of-vernon

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles33 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Waggoner National Bank