Not many folks remain in the same industry these days, it seems— much less stay with the same company.
But Spur Security Bank’s Elaine Key, president of the bank since 2013, has been a mainstay of the local bank for more than four decades. In that time, she says, she’s seen “tremendous changes in banking,” but after 42 years she’s ready for retirement.
The Spur-based bank hosted an afternoon reception last Friday for community and colleagues to wish her well. Local staff were on hand as well as representatives of the Lubbock-area office, where CEO and former Spur resident Kevin Bass handles executive functions.
When Key retires at the end of December, Bass said, more of those team members will be involved in Spur operations—as well as himself on a weekly basis—but Doreen Schmidt of Spur will step up to the role of assistant vice president, locally.
Key said that she’s seen the benefit of training and growing with a hometown business. “I started out in bookkeeping,” hired by Toby Collett in 1981, she said—openings at the bank were uncommon, and der children were young, one in school and the other age three. She went for it. “I am glad I did!” she said. “I love working at the bank, the type of work, and I truly feel blessed that God led me to apply for this job.”
After about six months she transferred to the loan department and began training as a loan secretary. In that capacity she worked for Collet, then Robert Pierce, and for many years with Eric Swenson.
Then, in 2004, she was promoted to loan officer, a position for which Swenson trained her. In 2013 she was appointed bank president, a role she continued when Bass acquired the bank in 2020. “I made a new friend and have enjoyed working with him as well as with Eric,” she said.
Key is just one of several employees with long tenure at Spur Security Bank. “I have had the honor of working with the best people during my years at this bank,” she said. “Everyone is just great – and it is a pleasure to come to work when you enjoy the people you work with. On top of that, I have met many interesting customers and enjoyed relationships with so many folks that I would not have had the opportunity to meet had I not been here.”
She’s also seen a great deal of change—from paper to pixels, as manual ledger sheets gave way to computers and in time to online banking. “Those changes have been good and also kept the bank up to date to serve customers in the best way possible. There have also been many regulation changes and updates—and at times those are more of a challenge to keep up with,” she said.
Bass anticipates more changes soon to roll out, with an increased level of access and service.
Key will get to pass the torch to others for those improvements. With her mother, Nora, living in Cisco— only a couple of hours away—she look forward to spending more time with her. Her in-laws, Weldon and Mary Ann Key, live in Snyder. And Elaine and husband Gary are also eager to spend more time with them and the next generations (two sons, Chad and wife Haley, their kids Olivia, Carson, and Crosby, and Derek and wife Jill, their kids Garrett and Ally) especially at Lake Granbury.
“I look forward to retirement and I am excited to see what the future holds,” she said.
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