The First State Bank Frankston recently celebrated its 100th anniversary with an open house at the main bank location in Frankston. This is the flagship bank of the Austin family banking empire that started with John F. Austin Sr. when he became a co-founder of the bank back in 1909. The event was well attended by shareholders, customers and area bankers. Jeff Austin Sr. had worked at First State Bank after graduating from the University of Texas and serving a stint in the Railroad Commission Office. Jeff Austin Jr. became chairman of the board in 1997 when Jeff Austin Sr. passed away and Michael Dennis was named president. The third member of the Austin family to become president was, coincidentally, TBA Chairman-Elect Jeff Austin III, who took the helm in 1999. The authors congratulate the Austin family for their success and leadership in their industry that now spans over 100 years.
A legacy of leadership and service Donny Palmer Texas Banking; Jun 2009; 98, 6; Docstoc pg. 28 Reproduced with permission of the copyright owner.
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