A History of Reliability

Freemon, Shapard & Story is the oldest continually licensed CPA firm in the State of Texas.

Arch Freemon
Grundy Shapard
Herbert Story
Our firm was founded in 1920 by Grundy Shapard.

He earned his Master’s degree in business administration from Harvard University and had been with a national accounting firm in the Dallas area. He moved to the Wichita Falls area to establish his practice and meet the service needs of the rapidly expanding oil and gas industry.  He was joined in the 1930s by Arch Freemon, who had been with the Internal Revenue Service and later became one of the early leaders of the Texas State Board of Public Accountancy.

Herbert Story, who had been employed in the accounting departments of several area oil and gas companies, joined the firm in the 1940s.​

The three formed the existing partnership January 1, 1945, and are responsible for developing the sophistication and intense drive to provide the quality service the firm still exhibits today. New partners Marc Duke, Howell Arrington, and Jim Reeves were admitted during the 1950s in a proactive move to succeed Mr. Shapard and Mr. Freemon, who retired during the late 1950s and 1960s.

The new partners further refined the firm's mission of prompt, quality service.  They, in turn, retired from the firm in the 1970s and 1980s.  In preparation for their retirement, new partners John Barfield, Dennis Cannedy, and Mac Cannedy, Jr. were admitted during the early 1980s.

Herbert Story retired from the firm January 1, 1996.  His long tenure and guidance of 50 years ensured that the traditions on which the firm was founded bridged all generations.

Upon the death of John Barfield in 2008, new partners Bob Henry and Debby Humpert were admitted in 2013.  In preparation for the partial retirement of Dennis Cannedy and Mac Cannedy, Jr., new partners Angela St. John, Lauren Welch, Ryan Cannedy and James Rowland were admitted in 2019.

These partners joined the other principals, directors, managers, and staff in a total devotion to the firm's historic and traditional goal of prompt, quality service provided at a value.

This is a testimony to the vision of quality service created by our founders and demonstrates the firm's ability to adapt to a changing environment. The firm will continue its tradition by providing timely, valuable services and embracing the challenges of the future.  Quality lasts and never goes out of style.