Funeral services for Mr. Milton L. Payne, age 89, of Carthage, TX, will be held at 3 p.m. on Friday, March 23, 2012, at Jimerson-Lipsey Funeral Home Chapel with Dr. William Everett and Rev. Steve Jackson officiating. Interment will follow at Shady Grove Cemetery near DeBerry. The family will receive friends from 5-7 p.m. on Thursday at the funeral home. Mr. Payne passed away on Wednesday morning, March 21, 2012, at his home.

Milton Payne was born November 12, 1922 in Madison County Texas to R.H. and Ivy Mae Madole Payne. The family moved to Panola County, where he grew up and attended Carthage schools. Mr. Payne attended Sam Houston University. Prior to graduation he entered the Air Corp in 1943 and served three years in the European Operation as a Control Tower operator. When he was discharged in 1946 he returned to Sam Houston University to complete his BA in Business Administration. He was a graduate of the first class of Southwestern Graduate School of Banking at SMU in 1960.

Mr. Payne began his career with First State Bank and Trust Co in the summer of 1941 as a part time bookkeeper. He continued to work during the summers, after his college graduation, he became a full time employee in 1948. Mr. Payne served First State Bank in a number of capacities- Vice President, President, Chairman of the Board, and Senior Chairman. A position he held until the time of his death.

Mr. Payne has been a member of Central Baptist Church since 1943. He served on the Industrial Development Foundation Board, Panola County Chamber of Commerce, and Panola County Cattleman's Association. He served on the Development Board for East Texas Baptist University. Mr. Payne felt education was a top priority and something that could never be taken from you. He was especially interested in the timber and cattle industry. He enjoyed collecting art and rare coins. The Texas Bankers Association honored Milton Payne in 2010 for serving in the banking industry for 69 years. He lived by this philosophy "Always treat a person as you would want to be treated and be honest in all your dealings"

He is preceded in death by his parents R.H. and Ivy Mae Payne; brothers, R.D. Payne, Chester Payne and sisters, Nelda Payne Kirksey and Ethel Mae Payne.

In 1952, he married Frances Perkins, together they had two children. They celebrated 59 years of marriage. He is survived by his wife, Frances, two daughters Christie Payne Rose and husband Randal Rose: Cindy Payne Stark and husband Joel Stark, all of Arlington; four grandchildren Cammy Rose of Texarkana, Alan Rose of Arlington, and Abby and Amy Stark of Arlington.

He is survived by his siblings, Jean Payne Samples and husband Ron of Alpharetta, Georgia, Chris Hollon of Dallas, and Jimmy Payne and wife Sandy of Carthage, as well as many nieces/nephews, great nieces/nephews and great-great nieces and nephews.

Serving as pallbearers are Gary Payne, Randy Payne, Mark Kirksey, Steve Kirksey, Alan Rose, Ron Samples, Syd Samples, and Tom Hollon.

Serving as honorary pallbearers are the Officers and Directors of the First State Bank & Trust Co. of Carthage.

Memorials may be made to the church or charity of your choice.

A guestbook may be signed online at www.jimerson-lipsey.com.