First Bank and Trust of Memphis

What First Bank and Trust of Memphis does

First Bank and Trust of Memphis is a privately held community bank headquartered at 501 Main Street in Memphis, Texas, operating as a division of Bank of Cordell (B19). Founded in 1898 and FDIC-insured (NMLS #552133), the bank serves individual consumers, small businesses, and agricultural borrowers across the Texas Panhandle through two physical branches in Memphis and Amarillo, complemented by digital and telephone banking channels.

The bank's product portfolio spans core deposit products (Traditional Checking, Traditional Savings, NOW, Money Market, BanClub premium checking, and Certificates of Deposit) and a full lending suite covering residential mortgages, commercial, consumer, agriculture, SBA, and USDA guaranteed loans. Underlying technology consists of a CSI-powered mobile banking application for iOS and Android, a web-based online banking portal, 24-hour telephone banking, and a Card Sentry fraud monitoring service. Supporting vendors include iPay Technologies for bill pay, First Data for card processing, Chex Systems for account verification, Bankers Bank for correspondent services, and Whit-co Checks for check printing.

Revenue is generated primarily through net interest income on the lending portfolio, deposit account fees (maintenance, overdraft at 18% APR, stop payment, insufficient funds), transactional service fees (wire transfers, account research, debit card replacement), and interchange revenue from debit card usage. The go-to-market motion is relationship-driven, executed through in-branch lending officers and a small set of regional physical touchpoints, with no public revenue figure disclosed in available sources.

Name

First Bank and Trust of Memphis

Legal name

First Bank and Trust

Website

https://firstmemphis.com

Company type

Private

Founded year

1898

Operating status

Operating

Headcount range

251–500 employees

Short description

First Bank and Trust of Memphis is a privately held community bank (FDIC-insured, NMLS #552133) serving individual consumers, small businesses, and agricultural borrowers across the Texas Panhandle through two branches in Memphis and Amarillo, TX, plus digital and telephone banking.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Community banking services
• Consumer deposit accounts
• Residential mortgage lending
• Commercial agricultural loans
• Small business lending

Headquarters

HQ city

Memphis

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Revenue generated from interest charged on loans including residential mortgages, commercial loans, consumer loans, agriculture loans, SBA loans, and USDA loans
2. Deposit Account Fees: Various account-related fees including monthly maintenance fees when balance requirements are not met, check/debit transaction fees, overdraft fees at 18% APR, stop payment fees ($10), and insufficient funds fees ($20)
3. Service Fees: Fees for services including account research ($10/hour plus copies), wire transfers ($15 domestic, $15 incoming international), notary services, photocopies, special statements, and debit card replacement ($5)
4. Interchange Revenue: Revenue from debit card transactions; no additional charge from First Bank & Trust when cards are used for purchases
5. Deposit Insurance: FDIC insurance coverage up to $250,000 per depositor, backed by the full faith and credit of the United States Government

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

First Bank and Trust of Memphis is a community bank offering deposit accounts (checking, savings, money market, CDs), debit cards, safe deposit boxes, residential mortgages, consumer loans, commercial loans, agriculture loans, SBA loans, and USDA loans. Services are delivered through two Texas Panhandle branches in Memphis and Amarillo, complemented by online banking, mobile apps, 24-hour telephone banking, and online bill payment.

Product overview

First Bank and Trust of Memphis operates as a community bank offering a unified suite of deposit, lending, and digital banking services. The product portfolio centers on traditional banking products including checking (Traditional, BanClub, NOW), savings, money market, and CDs alongside a full range of loan products (residential, commercial, consumer, agriculture, SBA, USDA). Digital banking is delivered through an integrated Online Banking platform and Mobile Banking App (powered by CSI) that connect to bill payment, card management, and fraud monitoring. Core deposit products and lending services are available alongside complementary features like safe deposit boxes and telephone banking, creating a comprehensive community banking ecosystem.

Differentiator

Problem solved

Functional benefit

Products and services

• Traditional Checking Basic personal checking account requiring a $100 minimum opening deposit, with no monthly maintenance or transaction fees when a $300 daily ledger balance is maintained. A $5 monthly fee applies if balance falls below requirement, plus $0.10 per check/debit transaction. Overdraft rate is 18% APR.
• Traditional Savings Interest-bearing personal savings account requiring a $100 minimum opening deposit. Interest is compounded quarterly and credited quarterly. No quarterly maintenance fee if a $100 average quarterly balance is maintained; otherwise a $5 quarterly fee applies. Limited to 6 transfers per quarter with $1 per additional transfer.
• BanClub Checking Premium personal checking account with a $5 monthly maintenance fee that bundles unlimited checking, $10,000 accidental death insurance, savers club discount book, emergency cash service, credit card protection, lost key return, semi-annual newsletter, membership card, and first order of special personalized checks. Minimum $100 opening deposit.
• NOW Account Interest-bearing personal checking account requiring a $1,000 minimum opening deposit. Interest is compounded daily and credited monthly at competitive market rates. No monthly fees when a $1,000 minimum daily balance or $2,500 average daily balance is maintained; otherwise a $5 monthly fee plus $0.10 per check/debit transaction applies. Overdraft rate is 18% APR.
• Money Market Checking Hybrid interest-bearing checking account combining check-writing capabilities with higher interest rates based on daily balance. Requires a $2,500 minimum opening deposit and daily balance to avoid the $5 monthly fee. Limited to 6 transfers per 4-week period. Interest compounded daily.
• Certificates of Deposit Term deposit investments with FDIC insurance and competitive fixed rates. Minimum $1,000 opening balance, available in various terms with special rate offerings for different investor types.
• Debit Cards ATM and debit cards with Card Sentry fraud monitoring, email/text card alerts, and card on/off control via Internet Banking. Free initial issuance and monthly fee. Lost/stolen card reporting available at (806) 259-3556 or after-hours at (844) 202-5333.
• Safe Deposit Boxes Secure storage boxes available in various sizes at the Memphis branch location for safekeeping of valuables and documents. Rental pricing available upon request.
• Online Banking Web-based online banking platform providing 24/7 account access via firstmemphis.myebanking.net. Features include current balance and transaction viewing, check image viewing, fund transfers between accounts, stop payment requests ($10 per check/debit), balance and transaction alerts, and online bill payment. Requires registration application with encrypted authentication.
• Mobile Banking App Native smartphone application for iOS (App Store) and Android (Google Play) powered by CSI, providing real-time balance access, money management, transaction viewing, transfers, bill payment, mobile check deposits, alerts, and card management.
• Telephone Banking 24-hour automated telephone banking service at (855) 225-5816 enabling customers to perform a range of financial transactions over the phone without visiting a branch or ATM.
• Online Bill Pay Online bill payment service enabling one-time and recurring payments to virtually anyone, from individuals to companies, with confirmation numbers and free unlimited transactions. Powered by iPay Technologies.
• Residential Home Loans Mortgage products for home purchase and refinancing, including adjustable-rate mortgages with 5-year balloon options. Online application available, with contact via [email protected] or (806) 331-3142. NMLS #552133.
• Commercial Loans Business financing for commercial real estate, equipment, and working capital needs. Downloadable application form available, with contact via [email protected].
• Consumer Loans Personal loans for autos, home improvements, debt consolidation, and other consumer needs. Downloadable application form available.
• Agriculture Loans Financing for agricultural operations, equipment, land, and farm-related expenses, tailored to the Texas Panhandle farming and ranching community.
• SBA Loans Small Business Administration guaranteed loans for business expansion and working capital. SBA Packet available for download.
• USDA Loans USDA Business and Industry Guaranty Loans and FSA Guaranty Loans supporting rural business development in the Texas Panhandle region.
• Investment Services Full line of investment products provided through experienced staff to meet customer needs and investing styles, allowing customers to earn returns on their money.

Quantifiable outcome

• FDIC insurance covers each depositor up to $250,000
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core.

• CSI (Credit Solutions, Inc.)coreTechnology or IntegrationCSI provides the mobile banking technology powering First Bank and Trust's mobile app. The app allows customers to get real-time balances, manage money, view transactions, make transfers, pay bills, deposit checks, receive alerts, and manage cards.
• iPay TechnologiescoreTechnology or IntegrationiPay Technologies provides electronic payment processing services for the bank's online bill payment functionality, enabling customers to pay virtually anyone from individuals to companies.
• First DatacoreTechnology or IntegrationFirst Data provides payment processing and transaction services for debit card and credit card transactions, enabling the electronic payment network for card-based transactions.

Scale indicators3 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Happy State Bank: Texas Panhandle-based community bank with a multi-branch network serving consumers, small businesses, and agriculture borrowers — directly comparable in product mix and customer segments.
• VeraBank: Texas community bank offering consumer and business banking, mortgage, and digital channels across central and east Texas; comparable in product breadth, regulatory positioning, and community banking strategy.
• Amarillo National Bank: Direct geographic peer operating a community bank franchise in Amarillo, TX with consumer deposit, lending, and digital banking services overlapping First Bank and Trust's product set.
• FirstBank Southwest: Amarillo-headquartered community bank offering consumer and commercial deposit and lending products with a comparable Texas Panhandle customer base and relationship-led service model.
• Citizens National Bank of Texas: Texas-based community bank serving consumers and small businesses with deposit, lending, and digital banking services, comparable in scale and customer mix to First Bank and Trust of Memphis.
• Legend Bank: North Texas community bank providing deposit accounts, consumer and commercial lending, and digital banking — directly comparable in size, product scope, and rural/small-town banking model.

Broad incumbents

• Independent Bank Group: Texas-headquartered community banking franchise with consumer and commercial banking across multiple metros — directly comparable product and customer model but at substantially larger scale.
• Prosperity Bancshares: Large Texas community bank holding company with full-service consumer and commercial banking; overlaps heavily with First Bank and Trust's product set but operates many more branches and a much larger deposit base.
• PlainsCapital Bank: Texas commercial and community bank with broader scale and richer product suite; comparable consumer/SME deposit and lending franchise but operates at materially larger balance sheet.

Regional players

• First United Bank (Texas/Oklahoma): Regional community bank serving Texas and Oklahoma with consumer, agricultural, and commercial lending — comparable in ag-lending exposure and Panhandle-adjacent geographic strategy.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/first-bank-and-trust-of-memphis

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

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 First Bank and Trust of Memphis