History

In the mid-1970’s, a group of Pittsburg businessmen met in the office of County Judge, Jesse Nickerson III, to discuss the need of establishing a new financial institution that would specialize in providing mortgage financing to the residents of Camp and surrounding counties.   From that discussion, the idea of forming Cypress Savings and Loan Association was born.  After almost two years of raising capital, filing applications, and attending hearings in Austin, Cypress’s insurance of accounts by the FDIC and ability to open was officially approved on October 3, 1977.

Craig Chesley, following a long family tradition of savings and loan management in Tyler, was elected as the bank’s first president and Bullard Johns, co-owner of Cozart-Johns Insurance Agency, became the bank’s first board chairman.  Following Chesley’s return to Tyler in 1983, Gary Bicknell was chosen as the bank’s second president and continues in that capacity today.

Cypress was initially organized as a state chartered stock institution with $500,000 of capital, a very small amount by today’s rigid capital requirements. Today, Cypress reports over 15.5 million of Tier 1 capital and is the only remaining savings institution in Northeast Texas which began as a stock chartered institution- a fact of which we are extremely proud. While having undergone several name and charter changes since its organization, the word ‘Cypress’ has always been retained.

Now operating as Cypress Bank, a state savings bank, we have assets in excess of $175 million and offices in four Northeast Texas counties. Cypress is a major provider of mortgage credit in each of these markets and offers an array of deposit products and services to meet the financial needs of our customers.