Citizens Bank celebrates 100 years

CLOVIS — The Citizens Bank of Clovis will celebrate 100 years of service this week with bank officials crediting the organization's longevity to perseverance, stability, integrity and a fervent commitment to customer service.

"After the first 50 years in business, the bank had less than $18 million in assets and a little more than $1.2 million in capital," said President Kent Carruthers. "With regard to the next 50 years, as of Sept. 30, 2016, there was $365 million in assets, and we were just short of $38 million in capital. Things have changed pretty dramatically over the course of the years."

Incorporated Jan. 7,1916, with a capital stock of $25,000, officials said The Citizens Bank of Clovis has become the largest independent financial institution in East-Central New Mexico. On Feb. 19, 1920, a group of investors led by S.J. (Sid) Boykin and A.W. Skarda organized Farmers State Bank of Clovis.

Four years later Farmers State Bank merged with The Citizens Bank, becoming The Citizens Bank of Clovis. The original Citizens Bank of Clovis building was on the corner of Grand and Main Streets. The current location opened in 1967.

Carruthers became the bank's fourth president in 1986, following S.A. Jones, A.W. Skarda and T.E. Willmon, Jr. as the only other men to possess the title.

"I believe the fact we've only had four bank presidents in a century speaks volumes for the steadiness of our organization," Carruthers said. "We've been able to maintain and nurture the original vision by holding steadfast to our goal of helping folks in the community reach their desired goals. It's been a great journey, and we're looking forward to seeing it continually unfold."

According to Carruthers, during the early stages of the banking industry, the cashier was the most significant officer within the organization, and The Citizens Bank of Clovis has a storied history filled with interesting tidbits of information.

"The cashier was more or less the CEO," he said. "And the president was a figurehead. A.W. Skarda came to New Mexico as a homesteader in the early 1900s and at one time worked at the First National Bank in Clovis. In fact, his tombstone reads Pioneer Banker. When our current location was originally built, there were mandatory regulatory requirements regarding fixed assets (with a $500,000 limit) that resulted in the site only having half of a basement. In the remodel, we've included venting, air conditioning, lighting and others improvements, spending three times the $500,000 amount."

With regard to the future, Carruthers said the bank endeavors to be there when needed.

"We just want to continue to serve the community and be the best possible asset," he said. "The advent of the Internet has opened a wide variety of avenues for consumers, so we want to provide quality, personalized service. Folks are welcome to visit with myself or any loan officer. As the community prospers, so do we. And we're very appreciative of the patronage."

A ribbon cutting ceremony is slated for 1 p.m. Wednesday at the bank with an Open House scheduled from 1 to 3 p.m.