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The American Bank of Commerce first opened for business as Wolfforth State Bank on September 11, 1962 with James S. Moore as chairman of the board. In January 1963, Wolfforth State Bank moved from temporary facilities to its first home in downtown Wolfforth, Texas. Wolfforth State Bank changed its name to American Bank of Commerce at Wolfforth on June 1, 1972.
Expansion and Growth
Over the years, the bank has focused on healthy expansion and growth. American Bank of Commerce now operates four banking centers in Lubbock, Texas, six banking centers in Austin, Texas, two in the Dallas area, one in Colorado Springs, and one in Pueblo, Colorado.
In March 2019, American Bank of Commerce purchased Infinity Mortgage Holdings, LLC as a wholly owned subsidiary of American Bank of Commerce. The bank is excited to now offer a full suite of mortgage products, programs, and resources to our valued customers.
In June 2020, American Bank of Commerce expanded its services once again with the launch of American Insurance Partners, LLC. American Insurance Partners is an independent insurance agency located in Georgetown, Texas and provides a broad range of insurance products and services from the finest insurance carriers.
In February 2022, American Bank of Commerce merged Infinity Mortgage into the bank, and our mortgage division now operates under the dba ABC Bank Home Loans. The bank is proud to continue to extend its mortgage services with Mortgage Loan Originators serving Texas and Colorado offering Conventional, FHA and VA loan programs with competitive rates and fees.
American Bank of Commerce remains consistently profitable and will celebrate its 60th Anniversary in 2022. The key to the bank's success has been through thoughtful and sound decision making and the development of its leadership team. In 2013, James S. Moore—who led this family owned bank through fifty years of prosperous growth—retired and passed the leadership role to the next generation of Moore family, Dr. John Moore. Dr. Moore has served on the board since 2005 and assumed the role of Chairman of the Board from his father in January 2013. Effective January 2019, E. Powell Thompson was named Vice Chairman of the Board, and James Arnold was elected President and Chief Executive Officer. James S. Moore passed away in 2021, but his legacy with American Bank of Commerce will live on forever.
American Bank of Commerce ended 2021 with total assets of $1,482,814,876 and total deposits of $1,312,431,832.