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Our Story

More than 130 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 location is standing today.

TFNB was purchased in the 1960s 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 Emeritus. 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. David Littlewood currently serves as TFNB’s Chairman and CEO.

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.

With our vision to expand our footprint in the central Texas area, we have opened three locations in Waco. You can find us at our Triangle Tower location in Waco at 510 N. Valley Mills Drive. Our downtown Waco location at 901 S. 8th is strategically located between Magnolia Market, Baylor University, and a revitalized downtown Waco. Our newest location is east of the Brazos River on Elm Avenue. A historically under served area, this is the first bank in East Waco in over 100 years. TFNB has solidly gained its foothold in the Waco market. In addition to McGregor, South Bosque, and Waco, our team of 100+ people also serve customers across the country. Through the use of technology, banking with us has no locational boundaries.

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