More Than 125 Years Strong

Founded as The First National Bank of McGregor in 1889, TFNB is the oldest bank in McLennan County and the seventh oldest national bank in Texas still operating under its original charter.  In 1957, we moved from our original location at 217 S. Main in McGregor, Texas to a more modern building across the street and two blocks south to 401 S. Main, where our downtown McGregor is located today.

TFNB was purchased in the 1960’s by a group of area businessmen. Two stakeholders were Pat Beard and David Kultgen, lifelong business and law partners. In addition to banking, the two established Waco’s prominent law firm, Beard, Kultgen, Brophy, Bostwick, Dickson & Squires. They also had an interest in the Bird-Kultgen Ford dealership, which was established in 1936 by Kultgen’s father. After many successful joint business ventures, Kultgen passed away in May 2013, and Beard died six months later.

TFNB is now led by a new generation of bankers known as McGregor Bancshares, Inc.  Beard’s son Mike oversees TFNB from our downtown McGregor location, and he serves as TFNB’s chairman and chief executive officer. Kultgen’s son serves as a director on TFNB’s board.

In 2000 Mike Beard hired Waco native David Littlewood as president to run the bank. Littlewood brings years of banking experience as well as numerous connections to TFNB.  In the years since Littlewood joined the bank, his relationship with Beard has become reminiscent of the partnership between the elder Beard and Kultgen — one comprised of similar philosophies and success.

With Littlewood as the driving force, and Beard his staunchest supporter, TFNB is expanding its geographic footprint.  In 2006, we opened TFNB South Bosque on Highway 84 on the eastern edge of McGregor to serve the growing population between McGregor and Waco. In April 2015, we acquired Oglesby State Bank, our third full-service location.  That same year we began operating under the trade name TFNB Your Bank for Life to reflect the expanded area of our customer base. Our name and updated brand reflect our McGregor origins as well as our future.

On December 2, 2016, First National Bank of Evant announced plans to acquire our Oglesby location.  The transaction was complete on February 17, 2017. Our vision is to grow, including opening a location in Waco. The reality is that we will open two locations in Waco. This fall, look for us in Waco’s Triangle Tower at 510 N. Valley Mills Drive. Then, in the spring of 2018, our new, downtown Waco location will open at 901 S. 8th. Strategically located between Magnolia Market, Baylor University, a revitalized downtown Waco and beyond, TFNB has solidly gained its foothold in the Waco market. In addition to McGregor, South Bosque, and Waco, our team of 40+ people also serves customers across Texas and the United States. Through the use of technology, banking with us has no location boundaries.