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HEMP

The community bank Central Texans have trusted since 1889.

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The community bank that's invested in you.

As one of Central Texas’ longest-running community banks, we understand local businesses and customers. We share in their struggles and successes.

At many banks, the decision makers don’t meet with customers. They don’t understand their stories or dreams. At TFNB, our decision makers hear directly from customers. That means you’ll always get a fair shake from someone who’s hands aren’t tied.

If you prefer using technology to access our services, that’s fine too! Our tech is simple enough for anyone to pick up quickly. It’s also powerful enough to take care of almost all of your banking needs.

At TFNB, we are:

  • authentically ourselves
  • invested in community
  • in it for the long haul

Hemp Account Fees & Minimum Balance Requirements

  • Checking Account – $150 flat monthly fee
  • Minimum Initial Deposit – $1,000 at account opening
  • Minimum Balance – $1000 balance across all accounts

Why choose TFNB?

There are many reasons to do business with TFNB Your Bank for Life:

  • You’re not just another number to us. The Texas charm is part of our DNA.
  • We are excited to help you grow with this emerging new industry.
  • No penalties for prepayment so you can pay off your loan faster.
  • Personalized services to help you reach your financial goals.
  • Take a look at the Silos in Downtown Waco and you’ll see that we are no stranger to entrepreneurial outliers and the impact they can have on a state and national level.

Key business requirements:

In order to apply, you’ll need the following information

  • Business Formation
  • Key Individuals & Owners
  • Licensing
  • Product Information
  • Operational Information
  • Financial

About industrial hemp

Hemp is sought-after because of its many different uses, and because it doesn’t require harmful pesticides or herbicides to grow. It replenishes quickly, making it a very sustainable and profitable crop. Industrial hemp is not the same thing as its commonly known relative, marijuana. Hemp has lower levels of THC (Tetrahydrocannabinol) and higher concentrations of CBD (Cannabidiol): the compound that negates marijuana’s psychoactive properties. Common uses include:

  • Paper
  • Textiles
  • Biodegradable plastics
  • Construction supplies
  • Health food and supplements
  • Biofuel

Hemp-Related Requirements

Business Requirements:

  • Internal Controls - Proper separation and controls of departments
  • Relevant Documentation - Financial documents routinely audited and kept
  • Industry Knowledge - Understanding of applicable laws, operational risks, and regulatory requirements
  • Best Practices - Follow all applicable State and Federal laws

Banking Requirements:

Be organized and prepared to speak on the following:

  • Compliance Focus - Well thought and practiced internal policies and procedures
  • Testing - Readily accessible procedures and subsequent results.
  • Disposal Procedures - Clearly defined and frequently tested procedures
  • No MRB Connection -Be able to provide proof that there are no operational or ownership ties to marijuana-related businesses (MRBs).

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