Citizens State Bank

Citizens State Bank. . , Sealy developed on the Gulf, Colorado and Santa Fe railway in 1879. Cotton, rice, corn, cattle and related agricultural businesses supported a quickly-growing economy. In 1907, F.W. Hackbarth, Jr. and his son, John Hackbarth, developed commercial buildings along Main Street, and on May 20, 1907, Citizens State Bank formed and occupied the southwest corner of the John Hackbarth building. R.A. Engelking, a successful businessman who was also president of the Sealy Oil Mill Co., was the first bank president. Citizens State Bank opened with capital of $25,000 and assets of $46,000, and in 1917 relocated across the street to the southeast corner of Main and Fowlkes Streets. , Citizens State Bank was able to survive money panics and the Great Depression. By the 1930s, Farmers National Bank and Sealy National Bank had closed, leaving Citizens State Bank as the only bank in Sealy. Engelking served as bank president from its organization until 1938. By 1939, capital had grown to $75,000 and assets increased to $660,456. Other long-serving presidents included E.W. Josey (1938-45) and G.R. Borgel (1946-61). The bank experienced its greatest growth in the 1960s, with assets in the millions of dollars, and completed a new facility in January 1967. Assets shrank during the recession of the 1980s, but Citizens State Bank survived without input of additional capital. Employment stability has contributed to the success of the business and in community relations, with about fifty twenty-five year employees. More than a century after opening, Citizens State Bank continues to be a reliable provider of funds and a source of strength for the community. , Marker is property of the State of Texas