In 1988, a group of local businessmen formed Texas Peoples National Bancshares, Inc. (TPNB). In December of 1988, TPNB acquired the assets and assumed the liabilities of the failed First National Bank Bogata from the FDIC. The assets and liabilities were acquired into a new wholly owned subsidiary of TPNB known as Peoples National Bank. People's National Bank was a newly chartered bank through application with the Office of the Comptroller of the Currency (OCC). One of the original investors, Ronald E. Abbott, the present Chairman and CEO, still serves as a director today. In 1990, PNB moved its home office to Paris, Texas, retaining Bogata as a branch location. Terry Christian was hired as the President of the Bank, bringing a strong local customer base from a competing bank in Paris. PNB began to experience rapid growth as a result of a local board of directors with a commitment to serving the local community. In 1990, PNB built and opened another branch and drive-thru facility at the corner of Collegiate Drive and Lamar Avenue in Paris.
In 1995, PNB opened an additional branch at the newly constructed Wal-Mart Supercenter in Paris. PNB was the first local bank to offer the convenience of three locations to its customers.
On March 3, 2004 Texas Banking Commissioner Randall S. James issued a state charter for Peoples Bank, Paris, Texas. Chairman Abbott stated, We believe that Peoples Bank can best serve its community as a state bank and look forward to operating under a state charter.