Best Bank, Loan Company & Customer Service

Voted first in three Odessa American Reader’s Choice Poll categories, American State Bank continues to offer its customers the best in banking services and convenience.

At this time, American State Bank is adding a fourth banking facility to the three already located in Odessa, and they are remodeling their main branch at 620 N. Grant.

“We’re very excited about the new building and the renovation,” says Terry Richey, ASB president. “The new location gives our customers greater access to us, and the renovation will make banking more convenient for both customers and employees.”

American State Bank has weathered the storm of the current financial downturn.

“During a down economy, we can stand up and proudly say we did all the right things. We’re in good shape,” Terry says.

American State Bank has been firmly rooted in the Odessa community since the beginning. The building at 620 N. Grant, constructed in 1959 by El Paso Products Group, started as the American Bank of Commerce.

“Well-known citizens like J. B. Sheppard, W. D. Noel, Earl Rodman and Woody Sewell were part of that group,” Terry says. “It later became Chase Bank and then was purchased by American State Bank in 2000.  It’s interesting that the building has gone back to having ‘American’ as part of its name.”

With more than $2.265 billion assets as of June, American State Bank has a “huge equity” of 10%, Terry says.  “That’s much higher than the 5% many institutions maintain. Part of the strength and stability of this bank is that we maintain a good loan to deposit ratio.”

He adds that American State Bank has been given the top rating by auditors for 13 straight years during a full FDIC audit.

American State Bank offers a full line of banking products.  These include checking, savings, certificates of deposit, safe deposit boxes, consumer loans, commercial loans, mortgage loans, cash management, online banking, debit cards, non-traditional bank investment options and trust services.

Founded in Lubbock in 1948, American State Bank is represented in the community by a local director and board.
The bank shows its commitment to the community with its presence at events like Mud Bug to benefit Meals on Wheels. “Fifty of our people went out to help with this event,” Terry says.

Along with the Odessa Parks and Recreation Department, ASB works diligently each year to make the 9/11 Tribute at Memorial Gardens a success.

“Last year’s event included a tribute to our fallen police officers, which was very moving,” Terry says.