First State Bank was named large family business of the year by the Hankamer School of Business at Baylor University's Institute for Family Business earlier this month.
The bank was first chartered in 1905 in Gainesville, and now serves four counties with 11 locations.
Ryan Morris, the current CEO of the bank, is a Baylor University graduate and his great-great grandfather founded the bank. His father, Frank Morris, is currently chairman of the bank's board.
“It is truly an honor to be recognized across Texas as the Large Family Business of the Year, and an affirmation of the incredible culture we’ve built. Our mission is to place our home, neighbors and family ahead of profits, which continues to set us apart in the industry and fuels our success,” Morris said in a press release.