The town of Yoakum incorporated on May 13, 1889, and with a growing population and business, a banking house was needed. W.O. Richardson recognized this need and with the assistance of other community leaders, organized a commercial bank in Yoakum. On June 19, 1890, the First National Bank of Yoakum was established with the following board of directors: J.M. Bennett, J.P. Morris, A. May, B.P. Stephenson, W. Heuermann, Jr., W.S. Boothe, and W.O. Richardson. The First National Bank of Yoakum opened its doors for business on July 10, 1890, in rented space. A permanent lot was purchased in August 1890 and the bank relocated to a two-story building some time before May 1892. The local bank prospered and grew, even withstanding the panic of 1893 that devastated most small banks. In early 1907, the shareholders changed the name to Yoakum National Bank. Involvement in the community and area’s interests were often considered, such as investment in the local cotton and tomato industry, and later the leather industry. In 1971, they moved to this location to better serve the community. From its earliest years, the First National Bank of Yoakum and later the Yoakum National Bank played a vital and major role in the growth and development of Yoakum and the surrounding areas. Through support of individuals and businesses, the Yoakum National Bank aided the financial prosperity of Yoakum’s citizens and industries. (2017)