Recognizing the 100th Anniversary of Muenster State Bank

Floor Speech

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Mr. BURGESS. Mr. Speaker, I rise today to recognize Muenster State Bank on their 100th Anniversary, celebrating their opening to serve North Texans on July 2, 1923.

Early in 1923, a group of local leaders from the small German Catholic community of Muenster, Texas decided that if the town of less than 450 residents was going to continue to grow and prosper, a bank was necessary. This group, made up of businessmen and farmers, met in J.W. Meurer's hardware store to request that J.W. take on a leadership role in the formation of this new bank. The group was apprehensive that the required funds could be raised to supply the necessary capital and deposits, considering that the previous private bank had already failed twice. Assured that adequate stock could be sold, the group prevailed upon Mr. Meurer to continue in his leadership role and to take charge of the organization and operation of the bank. They looked for additional assistance and discovered through interviews that experienced bankers could be found but were unaffordable for this new bank venture.

Mr. Meurer knew his brother-in-law, J.M. Weinzapfel, had the business acumen required and was available, but at the time lived over 60 miles away in Windthorst, Texas. Upon being offered the job, Mr. Weinzapfel moved to Muenster to assist with the necessary paperwork to secure a charter and future operations. The original 21 stockholders in the bank successfully raised $19,250.00 in total capital to obtain the State Charter and on Friday, June 29, 1923, the State of Texas granted them Bank Charter No. 1400. On the following Monday of July 2, 1923, the bank opened for business, providing Mr. Weinzapfel the foundation and community from which he would devote the remainder of his business life.

In the early years growth was slow. Nonetheless, the bank has generated an annual profit since inception, and has paid dividends in all but 2 years. Over the past century, through good and bad economic times, periods of war, and uncertainty such as 2 robberies and 1 attempted robbery, the officers and staff persevered, ensuring continued growth and prosperity along with the community it served. As a combination of a century's dedication and hard work by bank staff members and the loyalty and confidence customers have placed in the institution, Muenster State Bank has grown to $213 million in total assets as of the end of 2022, generating $3.5 million in net income and paying out $2.1 million in shareholder distributions.

Recently, Muenster State Bank's current president, Robert Weinzapfel, read the following communication to today's shareholders that then bank president, J.M. Weinzapfel, had written in 1942. Despite being written 81 years ago, it still rings true today.

``The bank organized and opened July 2nd, 1923 and never failed to pay a regular dividend each year since then. The Officers and Directors have been faithful to their trust and were influential in the promotion and development of many enterprising and successful business institutions in Muenster.

Our record of unusual service rendered to our patrons city, community, state and nation is reflected in the bank's growth. With resources now near \1/2\ million dollars, we believe that the plan to increase the capital is in keeping with the sound and conservative policy that has characterized the bank throughout its history.

The achievements enumerated are an expressed tribute and reflect in memory to the untiring efforts and fidelity of the original officers, directors, stockholders and patrons that are still with us and those who have passed on to their reward.''

As a part of our independent banking system, Muenster State Bank is a special part of our U.S. community banking system that is committed to supporting and investing to serve their local communities. I join the Muenster State Bank Stakeholders in looking back on the past century of community service, celebrating their accomplishments, and looking forward to the trust, community, and financial security they will continue to provide into their next century of operations.

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