First State Bank of Shelby
Feature Business of the Week: First State Bank of Shelby
Written by: Jayleen Nelson
The First State Bank has been in Shelby since April 10, 1910. They have survived the Dempsey Gibbons fight, World War I and World War II. They are still here today serving Toole and the surrounding counties. The bank has been owned and operated by the Kluth Family since the 1940’s. Byron Kluth, the current CEO and former President, feels the success and growth of the bank has been due to the fact that they always have community service in mind. Many times, a small independent bank can’t keep up with technology advancement that larger banks offer. But, they make it up with service and taking care of every customer as if they’re family. With community betterment in mind the Kluth family has been instrumental in the Shelby Chamber of Commerce. Herb Kluth was the first President of the Chamber, followed by other officers of the bank, his wife Theo, son Byron, and Grandson Brice, as well as other employees of the bank since then.
The Bank specializes mainly in agricultural loans, as well as serving the oil and gas industry, and also plays an instrumental part in the funding of other businesses and main street merchants in the area.
The bank currently employees 17 people. When Byron first started at the bank in 1966, the total assets were 8 million dollars. Today the current assets of the bank are 166 million dollars. The bank and its employees appreciate the loyalty of their customers and try to give that same feeling back to them. Their hope is to continue to grow and service Toole County for many years to come.
Written By: Shane Adams
In this week's feature, I have selected First State Bank of Shelby. They are 1 of the 3 Gold members of the Shelby Chamber Membership this year, Thank You! That is not the only reason they are being featured. Going into this bank was one of the first places I went when I first took this job, since the Chamber has long banked at this financial institution for many, many years. I needed to get my name onto the Chamber accounts, everyone at the bank was very welcoming even though I was a totally new face to all of them! That's when I first met the Kluth’s, ever since I have had some great conversations with both Byron & Brice. It does amaze me, I can step into Byron’s office for a quick 2 minute question. Hour later Im stepping out of the office. Always interesting to hear about the history of the area that he shares!! Been down a few different rabbit holes in conversation. Both Byron & Brice have served on the chamber board in Shelby, it's another great source of information and/or perspective when we chat about Chamber related business. I've learned to listen to any and all sources of information when on the job.
First State Bank of Shelby is another, among many other businesses in Shelby, that are big supporters of the community in general with various events within the community. Being a gold member of the Chamber, that automatically sponsors them towards most all chamber events. If that isn’t enough, 2 instances just recently, last month even more supported the Chamber. While I had many great businesses in Shelby sponsored the event by buying all the food/supplies to be used towards the Sunburst appreciation picnic. There are always “incidental” items or unforseen expenses that occur during events. Byron reached out and asked me, can the bank help in any way? I replied that the incidents would be great if they could cover those items. He gladly cut a check to cover all the incidentals!! Thank You!!
Shortly afterwards was the Shelby appreciation picnic that Shelby & Cut Bank Chambers joined forces to do. A Couple hours before the picnic Bryon called my cell, asking if we needed any more volunteers to help serve as he would help. At that point I had all my bases covered, but the thought is what counts and I do appreciate the offer to help!!! Thank You First State Bank of Shelby and the Kluth’s for all the help to the Chamber and also the personal insight to me on various topics!
