First National Bank of Cameron
Historical marker location:Two banks operated in Cameron prior to the establishment of the First National Bank. The Buckholts Exchange Commission, a small frontier deposit office, faltered during the Civil War, and the Milam County Bank closed during the panic of 1895. On August 22, 1889, the First National Bank of Cameron opened its doors for business in a rented building, while construction commenced on a permanent bank structure at the corner of First Street and Houston Avenue. John M. Hefley and other businessmen realized the necessity of a new financial institution for the growing town of Cameron, and they began the bank with $50,000 capital. Hefley was elected as the bank’s first president, and continued to serve as a director and stockholder until his death in 1903.
The bank grew slowly at first, but record cotton prices and the discovery of oil in the county during the late 1910s and early 1920s helped the bank to develop. The bank temporarily relocated to the former post office building during construction of a newer, larger structure at the bank’s original site in 1921. Although the bank reorganized during the Great Depression, it remained open, unlike several other banks in Milam County. As a product of the reorganization, the bank was renamed First National Bank in Cameron.
In 2007, the bank’s name changed again to Classic Bank, to reflect the expansion of its holdings to several cities which already had First National Banks. Today, the institution that began as the First National Bank of Cameron continues to serve the citizens of its community
As one of the most visible programs of the Texas Historical Commission (THC), historical markers commemorate diverse topics in Texas history, including: the history and architecture of houses, commercial and public buildings, religious congregations, and military sites; events that changed the course of local and state history; and individuals who have made lasting contributions to the state, community organizations, and businesses.
The University of Texas at Austin, founded in 1883, is one of the largest universities in the United States and has produced many notable alumni, including several U.S. presidents.
In 1825, the Mexican government issued land grants in the region, attracting a wave of American immigrants to the area. In 1834, the Mexican government designated Milam County as a separate municipality, and it was named after Benjamin Rush Milam, a prominent Texas revolutionary. After the Texas Revolution in 1836, the region experienced continuous growth and development.
During the mid-19th century, agriculture became the primary industry in Milam County, with cotton being the dominant crop. Many plantations were established, relying on slave labor until the abolition of slavery in 1865. The county also saw the establishment of several small towns, including Cameron, Rockdale, and Buckholts, which served as centers of trade and commerce.
In the late 19th and early 20th centuries, the arrival of the railroad played a significant role in the county's development. The expansion of rail lines allowed for easier transportation of goods and people, boosting the local economy. The county experienced periods of prosperity and setbacks, including the Great Depression, but managed to rebound and adapt to changing economic conditions.
Today, Milam County remains an agricultural hub, known for its production of cotton, corn, and livestock. It is also home to scenic landscapes, historical landmarks, and a vibrant community that values its history and heritage. The county continues to evolve, embracing new opportunities while preserving its cultural roots.
Milam County Timeline
This timeline provides a concise overview of the key events in the history of Milam County, Texas.
- 1824 - Milam County is part of the Mexican state of Coahuila y Tejas
- 1837 - The Republic of Texas establishes Milam County as a separate entity
- 1846 - Milam County is officially part of the state of Texas after the Texas Annexation
- 1860s - Milam County experiences a surge in population and economic growth due to the railroad expansion
- 1874 - Cameron is selected as the county seat of Milam County
- 1940s-1950s - Milam County becomes an important hub for oil and gas production
- 1960s-1970s - Milam County faces economic decline due to the decrease in oil and gas production
- 1990s - Milam County experiences some economic revitalization through tourism and the establishment of new industries