FORT WORTH, Texas--(BUSINESS WIRE)--Texas Exchange Bank (TEB) today announced a $7.5 million increase in bank capital from $14 million to $22 million, as well as the opening of three loan production offices in Houston and Austin. In line with this cross-state expansion, the bank also has added four seasoned bankers to its management team: Houston’s Lloyd Whatley, Scott E. Smith, Michele Alvarado, and Austin’s Gregory J. Goff. All join TEB as executive vice presidents.
Today’s announcements cap a string of market-expanding initiatives the bank has undertaken over the past two years, and come in the wake of the November 2010 opening of its Fort Worth branch. TEB officials stressed that the new loan production offices come in response to increasing commercial loan demand and growth. “We are actively funding $2 million-$5 million commercial business and real estate loans as well as community oriented loans in the range of $25,000 to $2 million and are targeting $5 to $10 million loans in the near future as we execute our growth plans,” reported Mike Palmer, CEO of Texas Exchange Bank. “We met with great bankers across the state, and I’m pleased these four experienced executives are joining our ranks.
“At the same time, investors have committed significant new capital to support our growth initiatives, and we’re focused on providing quality loans and products to businessmen needing funds for operating businesses and commercial ventures, including commercial real estate. We’re blessed to be in great places for business, whether it be Fort Worth, Houston or Austin, as we continue our expansion across Texas.”
As it opens its doors in Houston and Austin, TEB is maintaining its practice of recruiting bankers with deep lending experiencing in each of its local operating markets. In Houston, experienced commercial banker Whatley brings to TEB nearly a quarter century of proven lending and customer relationship experience in the commercial real estate and commercial and industrial sectors. Prior to joining TEB, Whatley most recently served as banking center president and manager for several of Prosperity Bank’s larger Houston locations.
Native Houston banker Smith brings to the table more than 15 years of local commercial banking experience. Smith, who comes to TEB after serving as the President and Director of Plains State Bank, is a member of the US Small Business Administration's Advisory Council, and is a specialist in helping emerging businesses reach their growth potential.
“I am excited about the opportunity to spearhead TEB’s expansion into the Houston market, and look forward to serving existing and new customers there,” Whatley said. “Houston is a wonderful market and we should have great opportunities there given our strong balance sheet and local demand.” Smith added, “I am impressed with TEB’s senior management team, access to growth capital, and plans for expansion. I look forward to establishing a meaningful TEB presence in the Houston market.”
Michele Alvarado comes to the team with over 25 years experience in Houston where she specializes in commercial real estate lending. Prior to joining TEB, she managed the real estate group for First Bank which covered all aspects of real estate lending including commercial and residential construction lending, term loans and land development loans. In addition, she has experience managing and disposing of REO properties, problem loans and commercial lending. She previously worked for Compass Bank and First City Bank.
“With many other banks experiencing regulatory restraints with respect to real estate loans, we expect to identify many solid commercial lending opportunities,” said Alvarado. “Our current focus is on acquisition financing and refinancing term loans. For us, this is the right time to be taking on real estate exposure and I am excited that TEB has the capacity and interest in real estate lending.”
Austin’s Goff joins TEB after more than a decade as an executive with Wells Fargo Bank, and will direct TEB’s marketing and sales activity in Austin. In his career to date, Goff has closed commercial real estate loans in excess of $750 million while serving markets in both Texas and Florida. Goff’s experience also includes a stint at Wells Fargo’s Regional Commercial Banking Office in Houston, where he served the lending and treasury management needs of a variety of middle market commercial businesses. Goff noted, “TEB is unique in that it has very sophisticated processes, tools, and perspectives befitting a much larger institution, combined with streamlined decision making, nimbleness and flexibility associated with much smaller entities. Austin is a strong and growing market, and I am eager to establish our presence there.”
Palmer commented further, “It is gratifying to take these concrete steps on executing our business plan, and I am confident we are well positioned for growth and success. We will continue to seek experienced bankers and great customer partners as we expand in existing and new markets in Texas.”
Go to http://bit.ly/TEBpressroom for more information on today’s announcement plus bios, photos and logos.
About Texas Exchange Bank
Texas Exchange Bank is a well-capitalized bank expanding its footprint in Texas with locations in Fort Worth, Crowley, Houston and Austin. The bank has been locally owned and operated since it first opened for business in 1970 in Crowley, Texas. We take great pride in providing highly personalized financial services to our business and individual clients. Texas Exchange Bank opened its first Fort Worth branch in November 2010; its Austin and Houston loan production offices in September 2011; and plans to expand in Dallas and other major Texas markets in 2012 and beyond. We are actively funding $2-to-$5 million commercial business and real estate loans as well as community-oriented loans in the range of $25,000 to $2,000,000. We are hiring experienced bankers to help us grow.
Dallas/Fort Worth: 2820 South Hulen Street, Fort Worth, Texas, 76109. Contact Mike Palmer or Rick Jenkins at 817-207-0030 for additional questions about services or hiring.
Austin: 700 Lavaca, Suite 1445, Austin, Texas, 78701. Contact Greg Goff at 512-820-8076 for additional questions about services or hiring.
Houston: 20333 State Highway 249, Suite 200, Houston, TX 77070. Contact Lloyd Whatley at 281-378-8030 or Scott Smith at 832-217-8303 for additional questions about services or hiring.
Houston Office #2: 1330 Post Oak Blvd., Suite 1600, Houston, TX 77056. Contact Michele Alvarado at 713-963-3647 for additional questions about services or hiring.