Oscar Lowe Slaton, Sr. (1867-1946) was a banker who partnered with Walter Posey to create First National Bank.  Slaton served as president of the Lubbock Chamber of Commerce in 1917.  He was a leader in locating the railroad and Texas Tech in Lubbock.  Although he lived in Lubbock, the city of Slaton was named in his honor.

O.L. Slaton Middle School opened as a Junior High in 1946 (Tisdel & Associates, architects). Additional classrooms were added with the 1995 bond program.  The campus was reconfigured as a 6th-8th grade middle school in 2006.