American State Bank, founded in 1948 and headquartered in Lubbock, Texas, is a financial service company with $2.0 billion in assets and offers a full range of banking and financial services to customers in West Texas. They currently have 34 branch in 18 communities.
American State Bank first opened on May 20, 1948 in Lubbock. Upon opening, the bank ran an ad in the Lubbock Avalanche-Journal, which stated, "Answering a vital public need, the American State Bank opens today." The American State Bank has had unusual continuity of management - there have only been two presidents since its inception. The first president, Jack Payne, had a term lasting from the banks first opening until 1974. He was succeeded by the current president, W. R. Collier.