Weatherford Democrat

Business

February 7, 2010

Baker retires from FNB in Munday

WEATHERFORD — MUNDAY – It has often been said that all good things must come to an end. This has certainly been the feeling among the officers, directors and employees of First National Bank in Munday since Charles Baker announced his retirement from the bank’s board of directors after 40 years of service.

Baker, a lifelong resident of the Munday area, who is affectionately known to many as “Mr. Munday,” became a stockholder of the bank in 1965 when he purchased the bank stock of C. L. Mayes following Mr. Mayes’ death. At that time, W. E. Braly was the president and board chairman of the bank. The directors were M. H. Lee, Barton Carl, M. L. Wiggins and Weldon Smith. 

Baker attended the stockholders meeting each year and recalls that Braly would usually say, “Well, we had a pretty good year, and we will pay a dividend of $.25 per share.” If anyone asked a question, Braly’s reply would be, “That is none of your business.”

Following Braly’s death in 1969, M. L. Wiggins and Weldon Smith purchased his stock and became majority owners. Baker was elected to the board of directors on Jan. 13, 1970. The bank’s total deposits then were just over $2,000,000.

For the next few years the bank’s deposits slowly increased and the building was renovated in 1973.

In 1978 Wiggins and Smith sold their bank stock to Gary Schur, and in 1979 he asked Baker to become the chairman of the board. In 1980 the bank purchased the adjacent building and underwent a complete remodeling. The bank continued to grow and began to actively pursue customers from other parts of the area surrounding Munday.

In 1997, Joe Sharp, who was raised in Munday, purchased Schur’s interest in the bank and became chairman of the board, with Bob McWhorter as president and Lyndle Reeves, vice-president. When McWhorter left the bank, Reeves assumed the office of president, a position he holds at the present time. In recent years, the bank has acquired branches in Haskell, Rochester and Stamford and now has deposits in excess of $66,000,000.

Asked to comment upon his years of service to the bank Baker said, “It has been a wonderful experience for the last 40 years to be a part of the growth of the First National Bank from a small town bank to what it is today. Under the direction of Mr. Sharp and Mr. Reeves, I am confident that it will continue to grow and be a vital factor in the growth and prosperity of the communities it serves.”

Charles Baker and Betty Golden Baker, his wife of 63 years, still reside in Munday, Texas. Theirs sons, Bobby Baker and Bill Baker both are residents of Weatherford, Texas.

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