The First National Bank was chartered in June, 1956. The original Board of Directors were M. R. Prestridge, Mose Cauthen, H. H. Stevenson, C. F. Loggains, P. B. Hendricks and George Abbott who served as Chairman of the Board until 1986.
The original capital stock of 20,000 shares was issued to 79 local residents as shareholders. The bank began its operations in a small remodeled doctor's office at 414 Tenth Street, Alamogordo, New Mexico. The original bank building, still located on Tenth Street has seen several renovations which have resulted in the building you see today. First National Bank has expanded its service area with branches in Alamogordo, Cloudcroft, Ruidoso, Tularosa, and Artesia National Bank in Artesia, New Mexico