"Helping to Build a Better Community"
Security First National Bank (SFNB) has proudly served the community of Hugo and the surrounding area for over 90 years, meeting the financial needs of some families generation after generation. At SFNB, we firmly believe in our motto, "Helping to Build a Better Community," and strive to incorporate that attitude in everything we do every single day. See how long we've been working for you, along with some history of our city*, in the timeline below:
- 1824: The United States Army establishes Fort Towson, which was abandoned in 1829 only to be rebuilt in 1830.
- 1831: The Choctaw begin arriving after being forced out of their Mississippi Valley homeland.
- 1901: The city of Hugo is founded and named after the French novelist, Victor Hugo.
- December 27, 1929: The first stockholder's meeting of Security State Bank was held.
- January 7, 1930: The bank opened its doors for the first time.
The bank's first employees were J.M. Cecil, President; R.C. Newton, Vice President; Jake Cobb, Dale Eddleman, and Lucy Edinger.
- 1933: R.C. Newton was elected bank president.
At that time, the president was authorized to make loans up to $75.00. Any loans over that amount had to be approved by the Discount Committee or brought before the Board of Directors.
- 1933: Total budget expense of the bank was a mere $7,960.35.
The president's annual salary was $1,800, which breaks down to just $150 a month. The remaining employees made anywhere from $420 to $1,680 a year.
- 1934: Bank declared and paid its first dividend at 3%.
- April, 1937: Bank deposits were first insured by the Federal Deposit Insurance Corporation (FDIC) to a maximum of $5,000.
- 1942: Circuses begin using the town of Hugo as their winter headquarters. Over the years, as many as 20 different circuses have wintered in Hugo, thus the nickname, "Circus City, USA."
- 1947: Security State Bank was authorized to commence business by the National banking Association as Security First National Bank of Hugo, Oklahoma.
- 1960: Mt. Olivet reserves a section of the cemetery, called "Showman's Rest," for circus performers and some rodeo cowboys. The section is the final resting place of bull-rider Lane Frost. A large granite memorial identifying the section is inscribed, "A Tribute to All Showmen Under God's Big Top."
- 1962: Hugo's first official PRCA rodeo was sponsored by Freckles Brown. The annual rodeo is one stop along a cowboy or cowgirl's journey to the National Finals Rodeo in Las Vegas. Hugo still hosts the annual rodeo, the first weekend in June.
- 1974: Hugo Lake is created when the Corps of Engineers build the Hugo Dam.
- 1981: The town restores the Frisco Depot, turning it into a public museum now listed on the Register of Historic Places, along with the Hugo National Guard Armory, the Hugo Historic District, and the Hugo Public Library.
- March 1, 1983: Hugo Bankshares, Inc., becomes new parent company for Security First National Bank of Hugo.
- January 25, 1990: Sooner Southwest Bankshares, Inc., becomes new parent company for Security First National Bank of Hugo and remains the bank's holding company today.
- 1993: The Endangered Ark Foundation is established by D.R. and Isla Miller to preserve the endangered Asian elephant. The foundation is now home to the second largest herd of Asian elephants in the United States.
- July 10, 1995: Mike Brewer named President / CEO of SFNB and remains in the position today.
- October 2001: Hugo celebrates 100 years.
*Much of the history of Hugo listed here was pulled from an article from the Oklahoma Historical Society's website about the city. To read more, follow this link to the OHS website or use the following citation:
Larry O'Dell, “Hugo,” The Encyclopedia of Oklahoma History and Culture, https://www.okhistory.org/publications/enc/entry.php?entry=HU010. Accessed 30 April 2021.