 | |
| Company type | Private |
|---|---|
| Industry | Banking Financial services Investment services |
| Founded | September 30, 1907 |
| Founder | William Lewis Moody, Jr. |
| Headquarters | , |
Number of locations | 16branches |
Area served | Southeast Texas,Central Texas |
Key people | Robert L. Moody,Chairman Emeritus Victor Pierson, Chairman, President &CEO Craig Barker, Executive Vice President |
| Products | Finance Consumer Banking Corporate Banking Wealth Management Mortgage loans Loans Trust services |
| 11.382 million USD | |
| 11.397 million USD | |
| Total assets | $1.32 billionUSD (September 30, 2018)[1] |
| Total equity | $148.2MUSD |
| Owner | Moody Bancshares, Inc. |
Number of employees | 210 |
| Website | MoodyBank.com |
Moody National Bank (MNB) is a nationally charteredbank, founded in 1907, that is based inGalveston, Texas.
With assets of nearly $1.7 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.[2][3] The company offers a full range of commercial and consumer banking products, as well as trust and investment banking services to customers throughoutSoutheast Texas andCentral Texas, including theGreater Houston area.[1][3]
The bank is unique in that through its trust department, it hasde facto control of theAmerican National Insurance Company (ANICO), one of the largest life and property/casualty companies in the U.S. The bank's trust department administers theMoody Foundation and the Libbie Shearn Moody Trust, which together own the majority ofANICO's shares.[4][5][6]
Moody National Bank is a wholly owned subsidiary of Moody Bancshares, Inc., a privately owned financial holding company, also based in Galveston.[6] Moody Bancshares also maintains a controlling interest in Galveston-basedHometown Bank N.A.[7]
In 1907, Galveston businessmanWilliam 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.[8]
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 toGalveston County for use as a historical museum dedicated to the memory of her father.[9]
With the legalization of branch banking in Texas in 1988, Moody National Bank merged with sister bank, South Shore National Bank inLeague 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, theAmerican National Insurance Company.[10]
By the 2000s MNB began to spread out from its traditional base of Galveston County opening offices inBrazoria,Fort Bend,Harris andTravis counties.[11][12][13]
Moody National Bank operates 16 financial centers across Central and Southeast Texas in the following counties:
29°18′17″N94°47′38″W / 29.3047°N 94.7938°W /29.3047; -94.7938
