First State Bank (Shallowater, TX)
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Data as of · sourced from FFIEC call reports. How we update
First State Bank is an FDIC-insured commercial bank headquartered in Shallowater, TX, established in 1960 (FDIC certificate 18301), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $151.2M, up 1.9% from Q2 2025, the 280th largest of 346 banks headquartered in Texas. It reports no CET1 ratio; its Tier 1 leverage ratio was 15.89% at Q2 2026, above the 9% community bank leverage ratio requirement for being considered well capitalized.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 18301
- Headquarters
- Shallowater, TX
- Established
- 1960
- Total assets, Q2 2026
- $151.2M
- Assets vs Q2 2025
- +1.9%
- Tier 1 leverage ratio, Q2 2026
- 15.89%
- Domestic offices
- 5 FDIC institution directory, current count
- Routing number
- 111323689
- Holding company
- SOUTH TEXAS BANCSHARES, INC.
- Asset rank in state
- 280th of 346 in Texas
First State Bank earns an unusually wide margin on its lending. The Shallowater, Texas bank had $151 million in assets at June 30, 2026, up 1.9% from a year earlier. It keeps 4.89 cents of net interest income on every dollar of earning assets, higher than about 9 in 10 of the 2,660 banks with $100 million to $1 billion in assets (median 3.95 cents). It also grew its loan book 19.4% over the year, 3.5 times the median of 5.5% for banks its size.
Loans are outrunning deposits: over the year loans rose 19.4% and deposits rose 0.3%. Problem loans fell by more than half over the year: loans on nonaccrual or 90 or more days past due, net of government guarantees are down to 0.23% of loans from 0.84%. Funding is the softer spot: it pays an average of 2.22% on its deposits and borrowings, higher than about three-quarters of banks its size (median 1.80%).
As of June 30, 2026, First State Bank reported a return on assets of 1.41%, a nonperforming-loan ratio of 0.23% and a Texas ratio of 0.95%. The figures come from its call report filed with the FFIEC.
Of the 346 banks headquartered in Texas, First State Bank is the 280th largest by total assets at Q2 2026. Quarter on quarter (Q1 2026 to Q2 2026), its total assets fell 3.4% to $151.2M, loans rose 11.4% and deposits fell 4.5%. The largest part of its loan book on June 30, 2026 was non-owner-occupied commercial real estate loans, at 38.2% of total loans, ahead of owner-occupied commercial real estate loans at 23.7%. The FDIC Summary of Deposits lists 4 offices for it, in 4 cities in TX; its Shallowater office books 67% of its branch deposits. Judged on its Q2 2026 call report, First State Bank meets the community bank leverage ratio test for well capitalized.
Headquarters Profile
- Address
- One Commerce Park, Shallowater, TX 79363
- County
- Lubbock
- Metro Area
- Lubbock, TX
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- Dallas (Region 13)
- Federal Reserve member
- No
- Federal Reserve district
- District 11, Dallas
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 041
- Established
- October 8, 1960
- Former names
- First State Bank of Shallowater (1975-1982)
- Domestic offices
- 5 FDIC institution directory, current count
- Employees (FTE)
- 35
- Domestic deposits
- $122.9M
- Allowance for credit losses
- $1.5M
- Net charge-offs (YTD)
- $94K
- Average total assets
- $153.6M
- Average total loans
- $98.6M
- Average interest-bearing deposits
- $92.4M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- October 8, 1960
- FDIC Cert
- 18301
- Fed RSSD
- 524766
- Website
- www.fsbshallowater.com →
- Parent Holding Company
- SOUTH TEXAS BANCSHARES, INC. (RSSD 3361506)
Profitability
Q2 annualizedBalance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. As a community bank leverage ratio filer, First State Bank reports no risk-based capital ratios; its Tier 1 leverage ratio applies. How we compute these figures
Quarterly trends
From Q3 2023 to Q2 2026, First State Bank's total assets ranged from $123.9M (Q3 2024) to $156.6M (Q1 2026), and it earned a profit in all 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$151.2M total assets against $148.5M; $124.8M total liabilities against $123.1M.
$105.6M net loans and leases against $88.2M; $122.9M total deposits against $122.6M.
$18.7M securities against $18.4M; $18.4M cash and balances due against $34.6M.
$2.5M total interest income against $2.5M; $704K total interest expense against $724K.
$1.8M net interest income against $1.8M.
$96K total noninterest income against $99K; $1.3M total noninterest expense against $1.3M.
No provision recorded in the last 12 quarters.
$540K net income against $573K.
1.41% return on assets against 1.60%; 4.89% net interest margin against 5.43%.
15.89% tier 1 leverage ratio against 16.16%.
Inside the full First State Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeFirst State Bank rankings
Its closest position to the top of a national ranking is 1,519 of 3,611, for ROA; its furthest is 3,284 of 4,196, for total assets.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 1.09% (Q4 2025) to 1.88% (Q3 2024) and its net interest margin ran from 4.62% (Q1 2026) to 6.07% (Q3 2024).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 15.89% | 1.41% | 0.23% | 0.95% | 4.89% |
| Q1 2026 | 15.97% | 1.18% | 0.09% | 0.35% | 4.62% |
| Q4 2025 | 18.15% | 1.09% | 0.06% | 0.21% | 5.51% |
| Q3 2025 | 16.65% | 1.81% | 0.65% | 2.22% | 5.73% |
| Q2 2025 | 16.16% | 1.60% | 0.84% | 3.12% | 5.43% |
| Q1 2025 | 17.02% | 1.35% | 0.07% | 0.25% | 5.21% |
| Q4 2024 | 17.98% | 1.48% | 0.00% | 0.00% | 6.03% |
| Q3 2024 | 17.58% | 1.88% | 0.80% | 2.77% | 6.07% |
Swipe the table sideways to see every column.
Branch Network
View all 4 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| First State Bank (main office) | Shallowater , TX | 79363 | $82.7M |
| Dallas Branch | Dallas , TX | 75229 | $19.6M |
| First National Bank of Amherst Bank Branch | Amherst , TX | 79312 | $12.5M |
| First State Bank - Plano Branch | Plano , TX | 75074 | $8.1M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| August 1, 2014 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| August 1, 2014 | Structure Change | Acquired The First National Bank of Amherst Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 2 events.
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- <0.1% of deposits in TX, rank 349 of 441 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 6 loans, $12.9M approved, $2.1M average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2025 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, Mortgage lending (HMDA), Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about First State Bank
What are First State Bank's total assets?
As of the Q2 2026 filing, First State Bank reported total assets of $151.2 million in its FFIEC call report.
Where is First State Bank headquartered?
It is headquartered in Shallowater, TX, United States.
When was First State Bank founded?
It was established in 1960, per the FDIC institution directory.
Is First State Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #18301). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates First State Bank?
First State Bank's primary federal regulator is the FDIC.
How many branches does First State Bank operate?
It operates 5 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is First State Bank's Texas Ratio?
Its Texas Ratio is 0.95% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
What was First State Bank previously called?
The charter now named First State Bank has also operated as First State Bank of Shallowater (1975-1982), per FDIC structure-change records.
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