Our History

In February of 1986, a small group of entrepreneurs and civic leaders opened a bank that is now seen as a part of the foundation of DeSoto, Texas. Pierce Monkres was asked to lead the efforts of the Bank of DeSoto and has developed the business into 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.

Pierce Monkres, founder and Chairman of the Board, has over 60 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 $220,000,000 while consistently paying dividends to its investors. The bank is owned and operated by many of these original investors, and officers, and by the employee stock ownership plan. Many employees who started their careers 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 Reader’s Choice. As an active member of the community, the bank participates in many social and community service activities.