Chartered on November 2, 1928, during the great oil boom days the original Lea County State Bank of Lovington played an important part in the early development of this area. Dedicated to the people of Lea County, the bank adopted their pioneer spirit, which would eventually make this part of New Mexico great.
When the hard times of the Great Depression hit, Lea County took it hard. Petroleum prices fell along with the population. Banks failed. But remembering its commitment to the people, Lea County State Bank persevered in spite of the tough economic times, in fact the bank even opened a branch in Hobbs.
When the demand for oil returned in 1934, once again the county boomed. And, once again, Lea County State Bank of Lovington was there for the people. The bank continued to grow and prosper in partnership with the county.
As Hobbs began to grow, the bank’s main office was eventually moved there to more adequately accommodate its customers. The bank’s name was shortened to Lea County State Bank in April of 1938. The bank subsequently changed ownership in 1959 and became known as First Interstate Bank of Lea County in 1981.
In September 1991, the bank was purchased by a group of local investors. The name was officially changed to Lea County State Bank. Today, Lea County State Bank has come full circle with the return to its original name and philosophy of putting customer service first.
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