American State Bank was chartered in September, 1970 as an Oklahoma State Banking Corporation. The bank opened December, 1970 at 3816 North Peoria Ave. in North Tulsa, Oklahoma which serves as our state- wide corporate headquarters. Previously, the Bank also operated a full service branch banking facility at 13 North Lottie in Oklahoma City, Oklahoma but this facility was subsequently closed.
American State Bank has been minority owned since inception. The U. S. Department of Treasury has consistently designated the Bank as a minority owned financial institution which allows it to actively participate in the U S Treasury’s Minority Bank Deposit Program. Also, this voluntary program encourages Federal agencies, State and local governments and the private sector to use Minority Bank Program participants as depositaries and financial agents. Further, In May, 2008 The U. S. Department of Treasury certified the Bank as a Community Development Financial Institution (CDFI) primarily because of the Bank’s ongoing commitment to focus its financial products and developmental services in distressed communities. In March, 2009, the Treasury Department certified the Bank as a Community Development Entity (CDE) indefinitely which allows the Bank to fully participate in the New Markets Tax Credit (NMTC) Program statute, among other things.
The owners and officers of the Bank are actively involved in the North Tulsa Community and hold memberships and leadership positions in such organizations as: The Oklahoma Bankers Association, The Community Bankers Association of Oklahoma, The National Bankers Association, The Tulsa Metro Chamber of Commerce, The Greenwood Chamber of Commerce and many other neighborhood and banking associations.
FDIC's Transaction Account Guarantee Program
We are participating in the FDIC's Transaction Account Guarantee
Program. Under the program, all non-interest bearing transaction
accounts are fully guaranteed by the FDIC for the entire amount in the
account. Coverage under the Transaction Account Guarantee Program (TAGP)
is in addition to and separate from the $250,000 coverage available
under the FDIC's general deposit insurance rules.