Merchants Exchange Bank

Historical marker location:

East Railroad Avenue and Depot Street, Benavides, Texas

( Northeast Corner of Intersection of East Railroad Ave. and Depot Street.)

Marker installed: 2015

Francisco Vaello Puig opened the Merchants Exchange Bank in Benavides in 1908. With the success of the Texas Mexican Railroad and the discovery of oil reservoirs, Benavides became a thriving small railroad town with a bright future. The Merchants Exchange Bank grew to reflect the wealth of the times. In 1937, the Vaello family built and relocated the establishment to this sandstone structure. In 1961, financial pressure on the bank ultimately crippled the business. By 1962 the bank closed, and Benavides began a steady decline which the closure of the bank compounded. The remaining structure acts as a testament to the former prosperity of the town.

RECORDED TEXAS HISTORIC LANDMARK – 2015.