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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
The years from 1989 through 2008 brought a focus on expansion and growth. During those years, American Bank of Commerce opened four banking centers in Lubbock, Texas, six banking centers in Austin, Texas, one in the Dallas area, one in Colorado Springs and one in Pueblo, Colorado.
In August 2005, as American Bank of Commerce approached its 43rd anniversary, the bank achieved the milestone of reaching 1/2 billion dollars in asset size.
American Bank of Commerce, consistently profitable for over forty five years, celebrated its 50th Anniversary with an open house and ribbon cutting at the Wolfforth Banking Center on June 10, 2013. In early 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.
American Bank of Commerce ended 2020 with total assets of $1,220,923,739 and total deposits of $1,072,335,561.