ROSWELL, New Mexico, February 15, 2021 – February marks 120 years in business for Pioneer Bank. Pioneer Bank opened its doors on February 19, 1901 as the Roswell Building & Loan Association in Roswell, New Mexico, to meet the need for capital to finance home construction. Over the past century, Pioneer Bank has grown into one of southern New Mexico’s most prominent community-based institutions for business and personal banking.
“Team Pioneer celebrates 120 years in business by reflecting on our past, but more importantly focusing on our future”, stated Christopher Palmer, President/CEO. “The most inspiring aspect of Pioneer Bank’s continued growth and success are our Team members and our partnership with the communities we serve. We owe our longevity to our Team, customers, and communities. We will continue to live up to our mission to make a positive difference in the lives of those who work, bank, and invest at Pioneer.”
The original meeting of the stockholders was held on December 27, 1900. A committee of nine was chosen to prepare the charter and by-laws, which were filed with the Secretary of the Territory of New Mexico and approved by the stockholders on April 5, 1901.
The first President of the Board of Directors was D.S. Rosenwald. The first Directors were W.T. Jones (Vice-President), J.M. Hervey (Secretary), L.K. McGaffey (Treasurer), Nathan Jaffa, George Bixby, L.W. Martin, E.A. Cahoon, E.P. Rasumssen, Charles W. Haynes and W.T. Jones. Our Presidents throughout the early years also included Nathan Jaffa, 1902-1903 and 1906-1907; C.C. Tannehill, 1903-1906; E.A. Cahoon, 1907-1935; and Gov. J.F. Hinkle, 1935-1951.
Through joint efforts of many, the Association weathered the depression years and established the Association as a sound financial institution serving Roswell and the Pecos Valley. The Association became a member of the Federal Home Loan Bank system on February 1, 1933; and its accounts were insured by the FLSIC on September 15, 1936.
In May of 1967, the name Roswell Building & Loan Association was changed to “Roswell Savings & Loan Association.” Equitable Building & Loan Association was merged with the Association in May, 1974. They again changed the name in April of 1975 to Pioneer Savings and Trust in an effort to reflect the broader scope of activities in which we were engaged.
In July, 1976, Pioneer converted from a mutual association to a stock association, issuing common stock. In 1994, we underwent another name change to Pioneer Savings Bank.
On April 18, 2000, a name change to Pioneer Bank was adopted in order to reflect the full range of banking services offered to Pioneer’s communities. As of the end of 2020, assets stood at $861,653M.
Pioneer Bank continues to grow and is proud of their service to customers since 1901. Pioneer will pursue expanding their services with new technology and innovation to provide desired services to our customers.
Pioneer Bank takes being a “Community Bank” as a personal mission to partner with our communities to cultivate growth for all. This means more than just specializing in deposits and loans. Pioneer Bank understands our responsibility extends to our neighborhoods, cities and towns, state and nation. With over 150 employees in locations that cover southern New Mexico, we know that our success is dependent on the success of our communities.
History of Pioneer Bank
First Stockholders Meeting
The original meeting of the stockholders was held on December 27, 1900. A committee of nine was chosen to prepare the charter and by-laws, which were filed with the Secretary of the Territory of New Mexico and approved by the stockholders on April 5, 1901.
First Board of Directors meeting
The first President on the Board of Directors was D.S. Rosenwald. The first Directors were W.T. Jones (Vice-President), J.M. Hervey (Secretary), L.K. McGaffey (Treasurer), Nathan Jaffa, George Bixby, L.W. Martin, E.A. Cahoon, E.P. Rasumssen, Charles W. Haynes and W.T. Jones. Our Presidents throughout the early years also included Nathan Jaffa, 1902-1903 and 1906-1907; C.C. Tannehill, 1903-1906; E.A. Cahoon, 1907-1935; and Gov. J.F. Hinkle, 1935-1951.
Roswell Building & Loan Association Opens Its Doors
Pioneer Bank opened its doors on February 18, 1901 as the Roswell Building & Loan Association in Roswell, New Mexico, to meet the need for capital to finance home construction. Over the past century, Pioneer Bank has grown into southern New Mexico’s number one community-based institution for business and personal banking.
The Association’s capital goal had originally been set at $100,000; however, by September 1, 1901, the founders had raised $200,000. During the 20th century, steady progress and success allowed the bank to add branches throughout southern New Mexico and establish Pioneer Mortgage Company in west Texas.
Roswell Building & Loan Association Changes Names
Through joint efforts of many, the Association weathered the depression years and established the Association as a sound financial institution serving Roswell and the Pecos Valley. The Association became a member of the Federal Home Loan Bank system on February 1, 1933; and its accounts were insured by the FLSIC on September 15, 1936.
By the early 1950’s, the Association reached assets of over $12,500,000. In May of 1967, the name of Roswell Building & Loan Association was changed to “Roswell Savings & Loan Association.”
Roswell Savings & Loan Association Opens New Headquarters
The new offices are located at 306 N. Pennsylvania Ave. in Roswell, New Mexico
Ruidoso Branch Opens
Original branch was located at Sudderth & Chase. Current location is 1095 Mechem.
Alamogordo Branch Opens
The new branch in Alamogordo is located at 1020 10th St.
Roswell Savings & Loan Association changes name to Pioneer Savings & Trust
Roswell Savings & Loan Association merged with Equitable Building & Loan Association in May, 1974. We changed our name in April of 1975 to Pioneer Savings and Trust in an effort to reflect the broader scope of activities in which we were engaged.
First Branch in Hobbs Opens
The first location in Hobbs is located at 1020 N. Turner St.
Carlsbad Branch Opens
The location in Carlsbad is located at 111 N. Canal St.
Las Cruces Telshor Branch Opens
Original Las Cruces location was in the historic Armijo house at 105 E. Lohman.
Ruidoso Moves Main Branch
The new location is at 1095 Mechem Drive
Pioneer Savings and Trust Changes Name
We changed our name to Pioneer Savings Bank.
Pioneer Opens New Branch in Roswell
The new branch was located at 301 S. Sunset Ave. to reach more customers in Roswell.
Roswell Opens Additional Branch
To continue to serve our customers, we opened a new branch at 3301 N. Main St.
Pioneer Savings Bank Updates Name
On May 11, 1999, a name change to Pioneer Bank was adopted in order to reflect the full range of banking services offered to Pioneer’s communities. By the end of 2001, the assets held by the bank were $372,901,648.
Las Cruces Opens New Branch
The new location is located at 2900 Roadrunner Parkway. We are also excited that we are going to be building a new, state-of-the-art building at this location beginning in March of 2021. Helping Las Cruces grow!
Roswell Opens New Branch
To make banking easier for our customers, we opened a new branch at #2 St. Mary’s Place.
Las Cruces Moves Main Branch
The new location is at 3831 E. Lohman Ave.
New Las Cruces Location Opens
New branch opens at 705 E. University Ave. Making this our third location to support Las Cruces.
New Corporate Headquarters Opens
Our new Corporate Headquarters are located at 3000 N. Main St., Roswell, NM 88201
Hobbs Opens New Branch
Our second Hobbs location is at 1600 W. Joe Harvey Blvd.
New Construction is Completed in Roswell
The new building construction, which began in 2017, houses two ITM’s, a few businesses, and is located at 3301 N. Main St.
