On March 21, 1901, just nine short days after the first townsite lots for the new city of Elk City were sold, the Thurmonds - E.K., A.L., O.H., A.N., and I.C. - formed the First National Bank of Elk City. The bank was started with $25,000.00 in capital. While the “Thurmond Brothers” have long gotten credit, it was actually brothers Erasmus Kleber, Arthur Leslie, Oscar Holmes and Ira Clarence along with their mother Amanda Neff Thurmond who founded the bank.

Since such meager beginnings, both Elk City and First National have grown in size and stature. Since 1901, descendants of the Thurmond Brothers have owned and managed the bank.

The bank has changed locations three times. The original bank location was one of the first buildings built in Elk City. In 1903 First National had outgrown its frame quarters and a beautiful new two-story brick building was constructed.

During construction of the new building the business of the bank was carried on in the old building which was set in the middle of East Broadway Avenue until the new building was finished. Upon completion of the new building, the old frame building was sold and moved. It was later used as a classroom when the school burned down. Today a replica of the original bank building stands in the Old Town Museum Complex in Elk City.

As many banks came and went throughout the first of the century, FNB stood strong and grew stronger. As FNB approached its fiftieth anniversary, it planned a complete remodel and renovation of its bank building. By this time FNB had been given the nickname as "Old Reliable" because no matter what was thrown its way it still stood strong.

Although later again remodeled, this bank building is still standing. In 2021 the building was donated to the Elk City Chamber of Commerce, although the Bank continues to have a presence there with an ATM and night drop. In the 1980s, we moved into a newer and bigger building and better meet our customers' needs. Later, the bank acquired trust powers; changed its name to First National Bank & Trust, Elk City, Oklahoma; opened a branch in Sayre, Oklahoma; and purchased the Mike Neff, Cooper West and McKeever insurance agencies to form the Western Oklahoma Insurance Agency, Inc., in order to expand our services.

Today, First National Bank & Trust is consistently recognized by independent bank rating agencies as one of the top banks in the country. It is the only local bank that started with Elk City and it is the only local bank that has been under the same ownership and management since 1901. From its meager beginnings in 1901, the bank has grown to over $326,000,000 in total assets and over $34,000,000 in capital.