Moody National Bank
|Founded||September 30, 1907|
|Founder||William Lewis Moody, Jr.|
Number of locations
|Southeast Texas, Central Texas|
|Robert L. Moody, Chairman Emeritus |
Victor Pierson, Chairman, President & CEO
Craig Barker, Executive Vice President
|11.382 million USD|
|11.397 million USD|
|Total assets||$1.32 billion USD (September 30, 2018)|
|Total equity||$148.2M USD|
|Owner||Moody Bancshares, Inc.|
Number of employees
With assets of nearly $1 billion, Moody Bank is one of the oldest and largest privately owned Texas-based banks. Its trust department, established in 1927, administers over $26 billion in assets, and is the largest domiciled in the state of Texas. The company offers a full range of commercial and consumer banking products, as well as trust and investment banking services to customers throughout Southeast Texas and Central Texas, including the Greater Houston area.
The bank is unique in that through its trust department, it has de facto control of the American National Insurance Company (ANICO), one of the largest life and property/casualty companies in the U.S. The bank's trust department administers the Moody Foundation and the Libbie Shearn Moody Trust, which together own the majority of ANICO's shares.
Moody National Bank is a wholly owned subsidiary of Moody Bancshares, Inc., a privately owned financial holding company, also based in Galveston. Moody Bancshares also maintains a controlling interest in Galveston-based Hometown Bank N.A.
In 1907, Galveston businessman William Lewis Moody, Jr. founded the City National Bank in the Trust Building in downtown Galveston. The new bank quickly grew and by 1920 a new building was constructed a block away on Market Street.
During its early years the City National Bank merged with the Galveston National Bank and continued to steadily grow in size and assets. In 1953 the board of directors decided to honor the bank's founder by changing the name to Moody National Bank. A year later Mr. Moody died and his daughter, Mary Moody Northen assumed control of the bank and ANICO.
By 1962 the bank had outgrown its neo-classical headquarters on Market Street, and a new seven-story building was constructed a block away. The old building, after sitting vacant for several years, was donated in 1972 by Ms. Northen to Galveston County for use as a historical museum dedicated to the memory of her father.
With the legalization of branch banking in Texas in 1988, Moody National Bank merged with sister bank, South Shore National Bank in League City, Texas. South Shore National Bank had been established by the Moody Family to provide financial services to the South Shore Harbor subdivision, which was being developed by their family controlled insurance company, the American National Insurance Company.
Banking center locations
Moody National Bank operates 16 financial centers across Central and Southeast Texas in the following counties:
- "FDIC Institution Directory". Federal Deposit Insurance Corporation. Retrieved 2018-02-15.
- Elder, Laura (2004-03-22). "Moody National Bank looks to expand influence". Galveston County Daily News. Galveston Newspapers Inc. Retrieved 2011-03-14.
- "COMMUNITY REINVESTMENT ACT PERFORMANCE EVALUATION" (PDF). Office of the Comptroller of Currency. 2010-04-12. Retrieved 2011-03-14.
- "Ownership Summary for ANAT". NASDAQ.
- "Moody Foundation 2005 Annual Report" (PDF). Moody Foundation. Archived from the original (PDF) on 2009-05-29. Retrieved 2011-03-14.
- "Filing: American National Insurance Company Control List". Securities & Exchange Commission.
- "Federal Reserve National Information Center: Moody Bancshares Ownership Structure". Federal Financial Institutions Examination Council. Retrieved 2011-03-14.
- Handbook of Texas: NORTHEN, MARY ELIZABETH MOODY. Texas State Historical Association. Retrieved 2011-03-14.
- Galveston Historical Foundation: Galveston County Historical Museum Archived 2007-10-15 at the Wayback Machine
- RALPH BIVINS. "League City site in midst of boom/South Shore Harbour is hot". Houston Chronicle. Retrieved 2011-03-14.
- Moody Bank announces New Austin Branches Archived 2008-05-21 at the Wayback Machine
- United States Securities & Exchange Commission Filing: Form 8-K National Western Life Insurance Company
- Calnan, Christopher (2009-06-07). "Area's entrepreneurial ways attract 102-year-old Galveston-based bank". Austin Business Journal. Retrieved 2011-03-14.