In February of 1986, a small group of entrepreneurs and civic leaders opened a bank which is now seen as a part of the foundation of DeSoto, Texas. J. Pierce Monkres was asked to lead the efforts of Bank of DeSoto and has developed it to the incredible position it is in today. As the city continues to grow and expand, Bank of DeSoto stands strong in continuing to serve as a personal service based business. Our purpose is to provide excellent customer service as well as a pleasant banking experience.
Pierce Monkres, founder and CEO, has over 55 years in the banking industry alone. The current officials at Bank of DeSoto have over 300 years of combined banking experience of which many were spent with Pierce personally. The bank opened for business with a total of $1,750,000 in capital. Today, total assets exceed $178,000,000 while consistently paying dividends to its investors. The bank is owned and operated by many of these original investors, officers, and by the employee stock ownership plan. Many employees that started their career with the bank in 1986 are currently working there today.
Bank of DeSoto is not just a significant bank, but an integral part of the community. Among many awards and accomplishments, Bank of DeSoto has been presented twice with the "Large Employer of the Year" by the DeSoto Chamber of Commerce and "Best of the Best Financial Institutions" by the Readers Choice. As an active member in the community, the bank participates in many social, civic, and community service activities.
We proudly celebrated our 25th Anniversary in February of 2011. These past 27 years were dedicated to provide great customer service and will continue to do the same for years to come.