december 9, 2019 | volume 155, number 22 | bankersdigest

T E X A S Cohron Named CEO of JMFA Upon Retirement of John and Cher FloydBaytown-based John M. Floyd & Associates (JMFA) has announced the retirement of company founder,

chairman and CEO JOHN M. FLOYD and co-owner and COO CHER FLOYD. Company veteran JOHN COHRON has been named to succeed John Floyd as chief executive officer.

John Floyd founded JMFA nearly 40 years ago as a regional consulting prac-tice with a handful of employees. Under his leadership, the company trans-formed into what is now recognized nationwide as a premier provider of income-enhancement and expense-re-duction products, as well as consulting services, for banks and credit unions. Floyd has been lauded for the devel-

opment of high-performance overdraft privilege programs that are fully com-pliant and consumer friendly.

Cohron joined JMFA in 2002. As chief information officer, he has been the principal advisor to the executive team and directly managed the company’s consulting operations group. He has been responsible for client relationships regarding project performance improve-ments, as well as the company’s IT func-tions and software development.

Cohron’s experience includes 30-plus years in government and the financial industry, with expertise in software and systems engineering, au-tomation operations support and cost analysis optimization.

“As we look ahead, we have an in-creased focus on growing JMFA’s capac-ity far beyond what it has ever been to help community banks and credit unions compete and prosper,” Cohron says. •

COHRON

DECEMBER 9, 2019 | VOLUME 155, NUMBER 22 | BANKERSDIGES T.COM

PUBLISHED E VERY MONDAY E XCEP T THE FIF TH MONDAY OF THE MONTH

O K L A H O M A Jaynes Joins First Oklahoma Bank as Executive Vice President/Chief Administrative OfficerJenks-based First Oklahoma Bank recently announced the hiring of GREGG JAYNES as executive vice president/chief

administrative officer, responsible for managing human resources and operations. With more than 30 years of banking experience, his career has included serving at financial

institutions in Virginia, Indiana and Oklahoma. In 1995, Jaynes was named

senior vice president of shared services and human resources at BOK Financial Corp. He subsequently served as executive vice president/chief human resources officer at F&M Bancorp., Southwest Bancorp/Bank SNB and, most recently, Valley National Bank in Tulsa and Bank of Jackson Hole in Wyoming.

Jaynes holds a BBA degree in finance from Waynesburg University. His profes-sional memberships include the National Association of Stock Plan Professionals, Society of Human Resource Management and World at Work. He also is a certified compensation professional. •

JAYNES

T E X A S

Williams Announces Retirement as President and CEO of Austin BankJOHN P. WILLIAMS, president and CEO of Jacksonville-based Austin Bank Texas NA, has announced his retirement after

almost 29 years of service with the company. He began his banking career in 1973 as a teller with Texas American Bank in Dallas. From 1987 to 1989, he served as president/CEO for Texas

American Bank in both Addison and Plano. After a brief tenure with TEAM Bank, the successor to Texas American Bancshares, Williams joined the Austin family of banks in 1991 as president/CEO and director of First National Bank in Whitehouse. In 2006, he was named president, CEO and director of Austin Bank, as well as president and director of Austin Bancorp Inc.

“These past 47 years have brought massive changes in the financial ser-vices industry, but community banking has—and always will—stand the test of time,” Williams says.

Williams attended Louisiana State University and Northwestern State Uni-versity. He is a graduate of the South-western Graduate School of Banking at Southern Methodist University and the National Commercial Lending School in Norman, Oklahoma.

An active member of the community, Williams currently serves on the boards for the CHRISTUS Trinity Mother Frances Hospital Foundation and Tyler Catholic School Foundation. He is a past board

Continued on page 10

WILLIAMS

2 | Bankers Digest December 9, 2019

T E X A S BBVA USA Promotes Knudson to Houston CEOBBVA USA has promoted DILLAN KNUDSON to CEO in Houston, where he will oversee commercial banking and

global wealth operations for the bank’s biggest U.S. market. Previously BBVA USA’s Austin CEO, he will take over the responsi-bilities of leading the fourth largest bank in the Houston

area. He joined BBVA as a credit products officer in the Houston office in 2011. Since then, he has held various production and leadership positions for the bank in Phoenix, Arizona; Ontario, California; and Austin, Texas.

Before joining BBVA, Knudson worked in investment banking with an advisory service firm specializing in tax credit programs that attract private investments to incentivize economic growth in distressed communities. In addition, he worked in commercial real

estate lending throughout Arizona and Utah.

“This move signifies a full circle transition back to the market where my BBVA career started,” Knudson says. “I’m humbled by the opportunity to serve the Houston area and look for-ward to reuniting with so many friends and colleagues throughout the region.”

Knudson earned a bachelor’s degree in finance from the University of North Dakota. He also attended BBVA’s execu-tive education program at the University of Texas in 2016.

With Knudson’s move from Central Texas, BBVA USA has appointed JON REBELLO as its new Austin CEO, as reported in last week’s Bankers Digest. Rebello previously served as BBVA USA Texas Border and Gulf Coast Region CEO.

BBVA USA is a Sunbelt-based financial institution that operates 642 branches, including 330 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 37 in Colorado and 17 in New Mexico. •

KNUDSON

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O K L A H O M A Gateway First Bank Names Taveekanjana Chief Production OfficerJenks-based Gateway First Bank announced that TONY TAVEEKANJANA has been hired as executive vice

president and chief production officer. He will oversee all retail and corre-spondent mortgage production across the country out of Gateway First Bank’s offices in Dallas, Texas.

“With more than 800 Gateway team members reporting to him, Tony will have a critical role in helping Gateway become a top-tier mortgage bank,” says STEPHEN CURRY, chair and CEO.

Taveekanjana’s financial experience spans 20 years, including national sales leadership positions with Envoy Mort-gage, Movement Mortgage and Stearns Lending, as well as senior leadership po-sitions at New Penn Financial, Fifth Third Bank and Countrywide Home Loans.

“Gateway’s platform is compelling and unique,” Taveekanjana says. “I firmly believe that it is designed for long-term growth and success, and I am thrilled to be a part of it.”

Established in 2019 after the merg-er of Gateway Mortgage Group with a 100-year old bank, Gateway First Bank maintains $1.4 billion in assets, six bank branches in Oklahoma and 160 mort-gage centers across America.

TAVEEKANJANA

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Bankers Digest December 9, 2019 | 3

FDIC-Insured Institutions Reported Net Income of $57.4 Billion in Third Quarter 2019

FOR THE 5,256 COMMERCIAL BANKS and savings institutions insured by the FDIC, aggregate net income totaled $57.4 billion in third quarter 2019, a decline of $4.5 billion (7.3 percent) from a year ago. The decline in net income

was caused by higher noninterest expense and loan-loss provisions, as well as realized securities losses. Financial results for third quarter 2019 are included in the FDIC’s latest Quarterly Banking Profile released in late November.

“The banking industry reported posi-tive results this quarter, despite nonre-curring events at three large institutions that affected quarterly net income,” says JELENA McWILLIAMS, FDIC chair. “Overall, the banking industry reported strong loan growth, and the number of ‘prob-lem banks’ remained low. Net income at community banks improved due to high-er net operating revenue, and the annual rate of loan growth at community banks exceeded the overall industry.

“This quarter, we also saw two reduc-tions in short-term interest rates and a flat yield curve, which present new chal-lenges in credit extension and funding,” McWilliams continues. “It is imperative that banks maintain careful underwriting standards and prudent risk management in order to maintain lending through this economic fluctuation.”

Here are the highlights from the third quarter 2019 profile:

NET INCOME DECLINED 7.3 PERCENT FROM THIRD QUARTER 2018 DUE TO NONRECURRING EVENTS AT THREE LARGE INSTITUTIONS: The 5,256 FDIC-insured institutions reported aggregate net income of $57.4 billion in third quar-ter 2019, a decline of $4.5 billion (7.3 percent) from a year ago. The quar-terly decline in net income was due to nonrecurring events at three large institutions. However, 62 percent of all institutions reported a year-over-year increase in net income; slightly more than 4 percent of institutions were un-profitable. The average return on assets declined from 1.41 percent in third quarter 2018 to 1.25 percent.

COMMUNITY BANKS’ NET INCOME INCREASED 7.2 PERCENT FROM THIRD QUARTER 2018: The 4,825 FDIC-insured community banks reported net income of $6.9 billion in third quarter 2019, up

$466 million from a year ago. Pretax return on assets rose 3 basis points to 1.51 percent, marking the highest quar-terly pretax return on assets reported

by community banks since third quarter 2006. Growth in net interest income (up 4 percent to $19 billion), noninterest income (up 16.4 percent to $5.1 billion), and gains on securities sales (up 675.1 percent to $164.5 million) were respon-sible for the annual increase in profit-ability. Revenue growth in these areas offset increases in noninterest expense (up 5.8 percent to $15.2 billion), provi-sion expense (up 24.9 percent to $754 million) and income tax expense (up 12 percent to $1.4 billion).

NET INTEREST INCOME INCREASED 1.2 PERCENT FROM A YEAR AGO: Net interest income increased by $1.7 billion (1.2 percent) from 12 months ago, making it the lowest annual growth rate since fourth quarter 2014. Lower yield on earning assets contributed to the slow-down in net interest income. However, slightly more than two-thirds of all banks (70.9 percent) reported annual increases in net interest income. The average net interest margin declined by 10 basis points from a year ago to 3.35 percent.

TOTAL LOAN AND LEASE BALANCES IN-CREASED FROM THE PREVIOUS QUARTER AND A YEAR AGO: Total loan and lease balances increased by $99.5 billion (1 percent) from the previous quarter. Growth among major loan categories was led by consumer loans, which include credit cards (up $31.3 billion, or 1.8 percent) and residential mortgage loans (up $22 billion, or 1 percent). Over the past year, total loan and lease balances rose by 4.6 percent, slightly

Continued on page 10

“IT IS IMPERATIVE THAT BANKS MAINTAIN CAREFUL UNDERWRITING STANDARDS AND PRUDENT RISK MANAGEMENT IN ORDER TO MAINTAIN LENDING THROUGH

THIS ECONOMIC FLUCTUATION.” —Jelena McWilliams, FDIC chair

w w w . t b b . b a n k • 8 0 0 - 5 2 2 - 9 2 2 0


T E X A S National Bank of Texas Hires Whisman and WooleyJAMIE WHISMAN has joined National Bank of Texas in Fort Worth as market president for the bank’s Hurst location.

She previously served for the past decade as vice pres-ident of commercial lending at Veritex Bank. Whisman brings a wealth of banking and commercial lending experience, having

worked for many years in the Hurst, Euless and Bedford area.

RANDY WOOLEY has joined the bank as the vice president/SBA and CML loan officer. He gained significant banking and

SBA loan experience working at Texas Trust Credit Union. Wooley holds a BA degree in communi-cations, business and sociology from the University of North Texas.

National Bank of Texas operates locations in Fort Worth, Azle, Burleson and Hurst. •

WHISMAN WOOLEY

L O U I S I A N A Home Bank Welcomes Smith as Commercial Relationship ManagerADAM SMITH has joined Lafayette-based Home Bank as vice president/senior commercial relationship manager, serv-ing the bank’s Northshore market. He brings more than 18 years of banking expertise to his new role. Previously, he was vice president/relationship manager at Chase Bank. Smith holds a BBA degree in management from the University of Mississippi. He also received his MBA

degree with a con-centration in finance from the University of New Orleans.

Established in 1908, Home Bank operates 40 loca-tions across South Louisiana and West-ern Mississippi. •

T E X A S

Macy to Lead Mortgage Team at American BankJEFF MACY has joined Corpus Chris-ti-based American Bank as mortgage team lead. Making the announcement

was JOHN WESS-MAN, executive vice president/consumer banking and marketing. Macy will manage the bank’s mortgage origina-tion and operations activities bank wide.

He joins Amer-ican Bank with more than 20 years of mortgage lending experience. Most recently, he served as the area mort-gage sales manager for BBVA in Austin. He began his mortgage lending career as mortgage banking officer and sales manager at GMAC Mortgage, followed by similar positions with United Lending and BBVA Compass. In 2015, he joined Capital One as area mortgage sales manager before moving to his most recent position with BBVA.

Macy graduated with a bachelor of arts degree in finance from Eastern Washington University.

“American Bank’s mortgage ser-vices have been highly regarded for many years as a personal, flexible and responsive resource for home loan solu-tions,” Wessman says. “Our goal is to provide this same experience across the bank’s entire geographic footprint by building on the reputation and platform that we’ve developed primarily in our Coastal Bend market. Jeff will be a key resource for us in developing and exe-cuting that plan.”

In January 2018, the bank an-nounced a five-year strategic plan designed to leverage its strength as a community bank. One of the key elements of the bank’s vision includes growth and investment in existing markets such as Austin, Corpus Christi and Victoria, coupled with expansion into new markets, including San Antonio and Houston, both of which took place in 2018. •

MACY

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T E X A S

Cadence Bancorporation’s Murphy Named “Most Admired CEO” HonoreePAUL B. MURPHY JR., chairman and CEO of Houston-based Cadence Bancorpo-ration, was recently named a “Most

Admired CEO” honoree by the Houston Business Journal. In making its selections, the panel of judges evaluated contribu-tions to company success, civic involvement and

career achievement to identify 42 for-profit and 17 nonprofit leaders for this year’s award. Murphy’s leadership philosophy—“Aim high, work hard”—has guided the bank from its formation through four acquisitions and an IPO.

“From the beginning, we’ve set out to build a company culture based on the empowerment of our people and solid execution on the fundamentals,” Mur-phy says. “To be acknowledged for our commitment to be a great place to work and to always do a great job for custom-ers is a proud accomplishment.”

Murphy serves on the boards of the Hope and Healing Center and Institute, Houston Hispanic Chamber of Com-merce, Natural Resource Partners and Oceaneering International. He also serves on the City of Houston Complete Communities advisory board.

Cadence Bancorporation is a region-al financial holding company with $17.9 billion in assets as of September 30. Its subsidiary, Cadence Bank, operates 98 locations in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. •

MURPHY

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T E X A S

Gravel Retires, Byler Promoted at TexasBankCHARLES GRAVEL, vice president/branch manager in Bangs for Brownwood-based TexasBank, is retiring after a 32-year

banking career. He has been a part of the TexasBank team since 2004. The announcement was made by GREG DODDS, president and CEO, who also announced that MATTIE BYLER has

been promoted to serve as bank officer/branch manager in Bangs.

“[Charlie’s] integrity, attitude and commitment to the community has served as an inspiration to his coworkers, customers and friends,” Dodds says.

During his career, Gravel has been actively involved in his community, including service to the Brown County Youth Fair, Bangs Community Youth Fair Fund, Bangs Mayfest, Brown County Child Welfare Board, Bangs Athletic Booster Club, Bangs Economic Development Board, Bangs Business Association and Brown County Crime Stoppers Association.

Byler started her banking career at TexasBank in 2007 as a teller. When she left for college, she continued her banking career, then rejoined the TexasBank team as a mortgage processor in 2016. She has worked at the Bangs branch since 2018.

Byler notes that Gravel “has been a role model to me and a great mentor over the years. I contribute the success I’ve had in my career to Charlie for the advice he gave me early on and hope to honor his legacy here at the Bangs branch.”

The community is invited to the TexasBank branch in Bangs for a retirement celebration honoring Gravel from 4 to 5 p.m. on December 12.

TexasBank operates eight full-service branches in North and Central Texas. •

GRAVEL

T E X A S Izard Named Vice President/ Mortgage Loan Officer at Guaranty Bank & TrustSUE IZARD has been named vice president/mortgage loan officer in the

Conroe office of Mount Pleas-ant-based Guaranty Bank & Trust. She has been in the mortgage industry since 1977, origi-nating loans with annual closings that have earned her top

producer awards for the past 20 years. Her experience includes closing, processing, branch supervision and mortgage loan origination.

Izard is a member of the Houston Association of Realtors, National Asso-ciation of the Women’s Council of Real-tors Montgomery County and Greater Tyler Association of Realtors.

Established in 1913, Guaranty Bank & Trust operates 32 locations across Texas. •IZARD

O K L A H O M A Stride Bank Appoints Shockley to BoardJOE T. SHOCKLEY, CPA, has been appointed to the board of directors for Enid-based Stride Bank. He has worked

in the banking industry in Oklaho-ma for more than 40 years and recently retired as executive vice president/chief financial officer for Southwest Bancorp Inc. and its subsidi-

ary bank, Bank SNB. Shockley is also founder and CEO of Shockley Consulting LLC, a bank consulting company.

After graduating from the Univer-sity of Oklahoma with a BBA degree in 1973, Shockley worked in public accounting with Arthur Andersen & Co. and a regional firm in Oklahoma City as the manager of the firm’s banking practice. He later became controller for First Oklahoma Bancorporation and its subsidiary bank, The First National Bank of Oklahoma City, eventually becoming chief financial officer. He also served as an executive at First Interstate Bank of Oklahoma, CAMCO, the First Interstate Bank of Oklahoma, Boatmen’s Bank and BankFirst Corp. before joining South-west Bancorp. •

SHOCKLEY

A R K A N S A S Lambert and Rushing Join Stone BankMountain View-based Stone Bank has added JEREMY LAMBERT as senior vice president/commercial lending and

SHAWN RUSHING as commercial loan assistant for the bank’s White Hall office.

Lambert, a 17-year banking vet-eran, joins the bank after working with Relyance Bank and

Simmons Bank. He earned a BS degree in agri business from the University of Ar-

kansas and complet-ed the Southwestern Graduate School of Banking at Southern Methodist University.

Rushing, a 26-year financial ser-vices professional, joins the bank from Relyance Bank. She

holds an associate’s degree in account-ing from Southeast Arkansas College.

Stone Bank operates branches in White Hall, Little Rock, Mountain View DeWitt and Harrison. •

LAMBERT

RUSHING


T E X A S American Momentum Bank, Security Bank to MergeCollege Station-based ADAM BANK GROUP INC., parent company of AMERI-CAN MOMENTUM BANK, recently an-nounced that it has entered into a plan of merger with Midland-based SECURITY STAR BANCSHARES INC., the parent com-pany of SECURITY BANK. The acquisition of Security Bank, which has 11 Texas locations, is expected to close by early next year. Following the transaction, American Momentum Bank will have ap-proximately $2.6 billion in consolidated total assets and $2.2 billion in deposits.

American Momentum Bank operates 20 banking centers in Texas and Florida, as well as a loan production office in Dallas. It entered the West Texas mar-ket this past January with the acquisi-tion of COMMERCIAL STATE BANK.

“From a retail standpoint, [the merger] enhances our footprint in West

Texas and provides a better opportunity and service coverage area,” TIM JONES, American Momentum Bank’s Texas pres-ident, told The Eagle (Bryan/College Station’s newspaper). “Security Bank is a very professionally run organization and we think we marry up very nicely together.”

Following the acquisition, JAMES C. THOMAS, chairman and CEO of Security Star Bancshares, will serve as West Tex-as CEO for American Momentum Bank.

“With this merger, we are further able to provide our Security Bank customers with an outstanding banking experience,” Thomas told The Eagle.

“American Momentum Bank is a first-class operation and an ideal fit for our brand of community banking, and it is our priority to ensure that this merger is seamless for all involved.” •

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A R I Z O N A California-Based Silicon Valley Bank Expands Footprint In ArizonaIn mid-November, Santa Clara, California- based SILICON VALLEY BANK announced the expansion of its operations in Arizona. The bank has secured an additional 60,000 square feet of office space in Tempe with plans to make the expansion in the first quarter of 2020. The company plans to increase its presence there by more than 300 employees in the next three years. According to a company press release, Silicon Valley Bank services half of all venture-backed companies in the U.S.

“We’re thrilled that Silicon Valley Bank has continued to scale its opera-tion and create new Arizona jobs since it first established a presence in Tempe in 2012,” says SANDRA WATSON, Arizona Commerce Authority president and CEO.

“Silicon Valley Bank’s growing pres-ence in Arizona is another sign of [the state’s] expanding tech sector,” says Arizona Governor DOUG DUCEY. “We are proud that this company—recog-nized globally as a leader in technology and business—has chosen Arizona to expand.”

“Silicon Valley Bank brings not only financial opportunities and assistance to Tempe businesses, it brings extreme-ly good jobs to Tempe,” says Tempe Mayor MARK MITCHELL. “These posi-tions use future-looking skills that will keep Tempe on the leading edge for our workforce.”

“The available technology labor pool in Greater Phoenix is growing at rates that are outpacing major hubs across the U.S.,” says CHRIS CAMACHO, pres-ident and CEO of the Greater Phoenix Economic Council. “We’re excited about Silicon Valley Bank’s continued invest-ment in the region, reinforcing that this market is where businesses with inno-vative ideas can scale and succeed.”

Silicon Valley Bank is currently located at Hayden Ferry Lakeside near Tempe Town Lake and has more than 700 employees. With the expansion, the company now has 190,000 square feet in the Hayden Ferry office complex. The roles to be filled in the new Tempe location include IT, finance, operations and corporate shared services. •


T E X A S

Benchmark Bank Opens First Branch Inside Houston’s Beltway 8Plano-based BENCHMARK BANK recently opened its first branch inside Houston’s Beltway 8, as reported in the Houston Business Journal. The branch at 6348 Woodway Dr. in Tanglewood opened in mid-October, CHAD LYONS, Houston-ar-ea president for Benchmark Bank, told the Business Journal. Benchmark Bank entered the Houston market in 2015 when it opened a branch in The Wood-lands, but the community bank wanted to open a location inside Beltway 8 to better serve its customers in River Oaks, West University, Bellaire and West Houston, Lyons says.

Lyons, who joined Benchmark Bank as the Houston market presi-dent in March 2018, works out of the 3,300-square-foot Tanglewood branch. He oversees five additional employees in Houston, with three employees work-ing out of Benchmark Bank’s branch in The Woodlands, according to the Business Journal.

Benchmark has no immediate hiring plans in Houston, according to Lyons. The bank aims to grow its branch count further in the local market, but Lyons told the Business Journal that right now it’s important to establish a foothold and a foundation in Houston with its new branch.

Benchmark Bank provides both personal banking and business banking, working with commercial real estate cli-ents’ business banking needs and focus-ing on families for its personal banking side of the business. “Since we preach community banking and being a family bank, we really try to get out and market to wives—women and kids’ accounts—trying to educate them about banking,” Lyons told the Business Journal.

Established in 1964, Benchmark Bank operates eight locations in Plano, Dallas, Austin, West Lake Hills, The Woodlands and Houston. As of September 30, it reported Houston-area deposits of approximately $13.2 million. •

T E X A S Vista Bank Named One of the ‘Best Community Banks to Work For’ by Community Banking AssociationIn early December, the INDEPENDENT COMMUNITY BANKERS OF AMERICA (ICBA) announced the winners of its inaugural

“BEST COMMUNITY BANKS TO WORK FOR” awards program. Dallas-based VISTA BANK was recognized as a 2019 winner in the category of community banks with assets between $750 million and $999 million. Winners in other cate-gories, based on asset size, include Farmers State Bank in Hartland, Minne-sota (less than $150 million); Timber-line Bank in Grand Junction, Colorado ($150 million–$499 million); Norwood Bank in Norwood, Massachusetts ($500 million–$749 million); and First Citizens Bank in Mason City, Iowa ($1 billion or more in assets).

In addition to determining the top community banks to work for, the com-petition, based on anonymous employ-ee responses, also garnered insights into what makes a community bank attractive to employees. The percent-age of community bank employees who would recommend their employer to others is an impressive 98 percent.

According to ICBA, “Vista Bank has put its own twist on the usual customer- first strategy. The golden rule, ‘people first’…starts with its own employees.”

“More than anything, we want to connect with our people so they know they are more than a teller or a cred-it analyst or a lender—they are an important part of Vista Bank,” says JOHN D. STEINMETZ, Vista Bank CEO and

president, in ICBA’s Independent Banker magazine. He credits Vista Bank’s cul-ture and people with being instrumental in its success, which includes more than a century in business and explosive growth in the past decade. Over the past 10 years, Vista Bank has nearly tri-pled the number of its full-time employ-ees, from about 60 to nearly 150.

Vista Bank supports its employees through a variety of programs, such as LOVE, or Leaning On Vista in times of Emergency. Through the program, employees can apply for financial assistance to help with an unexpected or challenging expense, or employees can nominate a colleague confidentially. LOVE has provided financial assistance for a number of circumstances, from medical bills to home repairs following severe storms.

Other examples of the bank’s commitment to employees include a profit-sharing program and efforts to reduce out-of-pocket health care expenses. Vista Bank pays for a major-ity of health care insurance costs and also contributes $1,200 per year to an individual’s health care savings account to help keep health care affordable for both individuals and families.

“I have always believed that loyalty has a direct correlation with a com-pany’s long-term success,” Steinmetz says. “‘People first’ is a very intentional approach that is a commitment at every level within the company.” •


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Arizona Federal Credit Union Completes Purchase of Pinnacle BankPhoenix-based ARIZONA FEDERAL CRED-IT UNION recently finalized its purchase and acquisition of Scottsdale-based PINNACLE BANK, a community bank with $259 million in assets and 2,200 clients. The acquisition, which was first announced in June, was finalized on November 30 following shareholder and regulatory approval. This is the first time an Arizona-based credit union has acquired an Arizona-based bank. Con-version of systems is estimated to occur in the second half of 2020.

As part of the acquisition, the com-bined institution will retain the Arizona Federal Credit Union name and charter, and deposits will be federally insured by the National Credit Union Adminis-tration up to $250,000. In addition, all former Pinnacle Bank employees will become employees of the credit union.

“Now that the acquisition is legally complete, our teams will begin the next phase of work involving the consoli-dation and conversion of systems and services,” says RONALD L. WESTAD, president and CEO of Arizona Federal Credit Union. “We…look forward to pro-viding additional products and services once our systems are converted later next year.”

Arizona Federal Credit Union currently has 12 branches across the metro-Phoenix area. With the comple-tion of the acquisition, the four former Pinnacle Bank branches will become ARIZONA FEDERAL BUSINESS AND HOME LOAN CENTERS.

“While Arizona Federal is well known for its outstanding delivery of consumer financial services, the team from Pinna-cle will provide expertise in the areas of small-business services and residential loans, further enhancing the credit union’s portfolio of services,” says MI-CHAEL J. THORELL, former Pinnacle Bank chairman and CEO, who has joined the credit union as president of commercial and residential lending. •

T E X A S Citizens Bank to Celebrate Holiday with Annual Christmas Performances in Historic Downtown KilgoreKilgore-based CITIZENS BANK continues to celebrate 70 years of community banking with its decades-old tradition of CHRISTMAS PERFORMANCES and open-house festivities in its historic downtown Kilgore location. The holiday celebration throughout December will include choral and orchestral perfor-mances from area school and Kilgore College ensembles, as well as a cus-tomer appreciation luncheon.

For more than 30 years, Citizens Bank has hosted its Christmas Perfor-mances in its Kilgore bank lobby. This year’s line-up will showcase local en-sembles from Kilgore College, Kilgore ISD, Sabine ISD, St. Luke’s Methodist Mother’s Day Out and Stepping Stone Preschool.

The performances—approximately 30 minutes in length—will be held Decem-ber 6, 9, 10, 12, 13, 16,18 and 19.

As a show of appreciation for the support that customers and the com-munity have shown Citizens Bank over the past 70 years, the bank will host its annual OPEN HOUSE 10 a.m.–2 p.m., December 13, with a full buffet open to the public.

Established in 1949, Citizens Bank is an independent community bank with 11 banking centers in Bryan/College Station, Carthage, Center, Gladewater, Humble, Kilgore, Kountze, Sour Lake, The Woodlands and Yorktown, as well as a loan production office/deposit production office in Plano. •


FDIC Third Quarter continued from page 3

above the 4.5 percent annual growth rate reported last quarter. Commercial and industrial loans registered the largest dollar increase from a year ago (up $131.9 billion, or 6.3 percent).

ASSET QUALITY INDICATORS REMAINED STABLE: The amount of loans that were noncurrent (i.e., 90 days or more past due or in nonaccrual status) declined by $184.8 million (0.2 percent) from the previous quarter. Noncurrent bal-ances reported mixed results for major loan categories. Residential mortgages declined by $407.4 million (1 percent), while credit card balances rose by $940.9 million (8.1 percent) and com-mercial and industrial loans increased by $263.5 million (1.5 percent). The average noncurrent loan rate declined by 1 basis point from the previous quarter to 0.92 percent. Net charge-offs rose by $1.9 billion (17.2 percent) from a year ago, and the average net charge-off rate rose to 0.51 percent.

THE NUMBER OF BANKS ON THE “PROBLEM BANK LIST” REMAINED LOW: The number of problem banks fell from 56 to 55 during the third quarter, the lowest number of problem banks since first quarter 2007. Total assets of problem banks rose modestly from $48.5 billion in the second quarter to $48.8 billion.

THE DEPOSIT INSURANCE FUND’S RESERVE RATIO ROSE TO 1.41 PERCENT: The Deposit Insurance Fund (DIF) balance totaled $108.9 billion in the third quarter, an increase of $1.5 billion from the previous quarter. The quarterly increase was due to assessment income, interest earned on investment securities held by the DIF, and a reduction in losses from past failures. The reserve ratio rose by 1 basis point from the previous quarter to 1.41 percent.

MERGERS AND NEW BANK OPENINGS CONTINUED IN THE THIRD QUARTER: During the third quarter, four new banks opened, 46 institutions were absorbed by mergers, and no banks failed.

A R I Z O N A

Branches

The Office of the Comptroller of the Currency (OCC) reports that it has approved an application by FIRST NATIONAL BANK TEXAS, based in Killeen, to establish a branch at 902 W. Irvington Rd. in Tucson.

The OCC reports that SUNFLOWER BANK NATIONAL ASSOCIATION, based in Denver, Colorado, has established the following branches: 5090 40th St. in Phoenix; and 355 E. Germann Rd., Ste. 110, Gilbert.

L O U I S I A N A

Branches

The OCC reports that it has approved an application by JPMORGAN CHASE BANK NATIONAL ASSOCIATION, based in Columbus, Ohio, to establish a branch at the southwest corner of S. Carrollton Ave. and Hampson St. in New Orleans.

The Louisiana Office of Financial Institutions (LOFI) reports that RED RIVER BANK, based in Alexandria, has established a branch at 70561 Hwy. 21 in Covington.

T E X A S

Mergers and Acquisitions

The Texas Department of Banking (TDB) reports that HERITAGE BANK, based in Pearland, has applied to merge with and into THIRD COAST BANK SSB, based in Humble.

The TDB reports that AMERICAN MOMENTUM BANK, based in College Station, has applied to merge SECURITY BANK, based in Midland, with American Momentum Bank.

The TDB reports that CITY BANK, based in Lubbock, has completed its acquisition of WEST TEXAS STATE BANK, based in Odessa.

Branches

The TDB reports that SOUTHSIDE BANK, based in Tyler, has established a branch at 19529 Northpark Dr. in Kingwood.

The TDB reports that it has approved an application by CAPITAL BANK, based in Houston, to establish a branch at 23033 Grand Circle Blvd., Ste. 100, in Katy.

The TDB reports that TEXAS BRAND BANK, based in Dallas, has established a branch at 3033 Main St. in Dallas.

The OCC reports that it has approved an application by JPMORGAN CHASE BANK NATIONAL ASSOCIATION, based in Columbus, Ohio, to establish a branch at the southwest corner of Hwy. 59 and Northpark Dr. in Houston.

The OCC reports that it has approved an application by AMARILLO NATIONAL BANK, based in Amarillo, to establish a branch at 2630 Parkway Dr. in Lubbock.

The OCC reports that it has approved an application by LAMAR NATIONAL BANK, based in Paris, to establish a branch at 1240 FM 407 at Plaza Place in Northlake.

Williams Retiring continued from page 1

member of the Tyler Catholic School System, Junior Achievement of Tyler, Tyler Industrial Foundation, Whitehouse Chamber of Commerce, Whitehouse Economic Development Council and the Jacksonville Chamber of Commerce. Williams is a past member of the South Tyler Rotary Club and has supported and worked with United Way, the Liter-acy Council of Tyler and Boy Scouts of America Circle Ten Council.

“Growing up in Natchitoches, both of my parents were community bankers, working and retiring together in 1978,” Williams notes. “It never crossed my mind that banking would become my ca-reer and that I would develop such a pas-sion for it. Banking is a people business built on trust, service and integrity.”

Austin Bank operates 33 offices in 24 communities. It is locally owned and operated by the Austin family, celebrat-ing 110 years of service in the Texas banking industry. •


originating C&I, CRE and SBA loans and deposit relationships. Base salary will be commensurate with experience in the expected range of $110,000 to $200,000. We also have a progressive incentive plan and top-of-the-line benefits! Please send résumé to James Barkley at [email protected].

CHIEF LENDING OFFICER, TEXAS. Community bank prefers commercial producer with credit acumen, increased responsibilities, stability. Position in non-metro area with strong career progression. Mark Mitchell, Lone Star search, 972/335-9009.

SENIOR COMMERCIAL LENDERS. Dallas, Houston and Austin: Texas bank looking for senior commercial lenders in Dallas, Houston and Austin with five to 10 years of experience originating C&I, CRE, SBA and deposit relationships. Could move

into a leadership role. Prefer credit trained, currently producing in their market. Base salary $125–200K-plus and a progressive incentive plan. Send résumé to [email protected] or call Anthony Potenti at 214/515-7609.

SENIOR BANKER IN FORT WORTH. Looking for well-rounded banker who will assume president position in three years. $200k range. Please send résumé to [email protected], or call 214/515-7606. Thank you.

COMPLIANCE/IT OFFICER. $250-million community bank in West Texas is seeking an individual with some compliance and IT experience. Willing to train the right individual. Competitive salary, room for advancement and a senior management position. Please send résumé to [email protected] with

“OCT-1” in the subject line.

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S E R V I C E S

INTERNAL AUDIT OUTSOURCING: Time to improve or develop your internal audit function? Our firm can help! We provide administrative guidance or training to your personnel or will handle all your internal audit needs. Oversight, operational, IT, regulatory compliance, FDICIA and SOX—we can assist your company in all facets of internal auditing. Call Bryan Kendrick to discuss at 210/413-4134, or visit our website at www.kendrickservices.com.

P O S I T I O N S A V A I L A B L E

MARKET PRESIDENT FOR FIRST FINANCIAL BANK’S GLEN ROSE LOCATION. First Financial Bank is currently seeking a market president for its Glen Rose location. The ideal candidate will have 10-plus years of commercial lending experience and be a highly motivated individual with the desire to be a community banker. Must have a good knowledge of credit analysis skills, banking policies, procedures and regulations. Please apply at www.ffin.com/careers.

EXPERIENCED, ABLE LOAN OFFICER FOR EAST TEXAS COMMUNITY BANK. Locally owned and operated, $700-million-plus, A+ rated community bank (Weiss Ratings) located in East Texas seeks loan officer. Applicant should have experience in all lending areas and must understand loan regulatory requirements and the importance of outstanding customer service. Primary duty will be generating new loan business with secondary responsibility being servicing existing customer relationships. Salary is commensurate with qualifications. Submit résumé to [email protected] with

“JUL-2” in the subject line.

COMMERCIAL LENDERS NEEDED IN AND AROUND SAN ANTONIO, AUSTIN, CORPUS CHRISTI, EAST TEXAS AND OUR BRANCH LOCATIONS IN THE COMANCHE/WEATHERFORD/CENTRAL TEXAS AREA. We are expanding! Spirit of Texas Bank is looking for commercial lenders

1700 RIO GRANDE ST., STE. 100AUSTIN, TEXAS 78701

(USPS 041180)

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B A N K E R S D I G E S T D E C E M B E R 9 , 2 0 1 9

A R K A N S A S Stone Bank Pledges Funds to Local School District for Mobile Phone AppMountain View-based STONE BANK has pledged $20,000 over the next four years to help fund the Mountain View School District’s new mobile phone app. “Anything we can do to help our students and their parents communi-cate more effectively with the schools is important,” “says KENDALL STUBBS, branch manager at Stone Bank in Moun-tain View.

The new app “will help us use the latest technology to keep our students and parents in touch with the schools,” says Brent Howard, Mountain View School District superintendent. “It is critical that corporate partners like Stone Bank stay involved with supporting the schools and our goal to provide a premium education to our students.”

The app is free and available at all popular app stores. It provides access to events calendars, staff directories, notifications on school closings and event cancellations. It also includes a live feed option. The app provides infor-mation for all the district schools.

Stone Bank operates branches in White Hall, Little Rock, Mountain View, DeWitt and Harrison. •

december 9, 2019 | volume 155, number 22 | bankersdigest

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