In 1890 F.J. Grayum began the Snyder Bank, a private institution, in his drugstore on the south side of the square. Although Snyder had no railroad and goods were shipped on wagons from Colorado City (25 miles south), W.A. Fuller, a wealthy rancher, saw the need for a national bank in Snyder to help encourage business growth. Fuller and his associates bought out Grayum’s bank and opened Snyder National Bank on March 13, 1905.
During the 1930’s when many banks were closing, M.A. Fuller, the current bank president, announced to the community that he was bringing a plane loaded with cash into town. After unloading the sacks of cash, Fuller then invited all the bank customers to withdraw their accounts. This dramatic move seemed to reassure the community and customers of the bank that the bank was not in trouble and there was never a “run” on the banks.
After operating from Grayum’s drugstore for a short time the bank occupied several locations until moving to the current location in 1957. On November 5, 2008, Snyder National Bank successfully converted from a National Bank to a State Bank and changed the name to Community Bank of Snyder. Community Bank of Snyder is now a full service financial institution serving the residents of Snyder and the surrounding Scurry County area. The bank is still privately owned by 130 local shareholders and has grown to 120 million dollars of total assets.