DALLAS--(BUSINESS WIRE)--Sandesh “Sand” Patel has joined State Bank of Texas (SBT)—an $887 million asset full-service commercial bank headquartered in Dallas, TX—as Senior Vice President of Lending.
The expansion of the bank’s senior lending team was announced by Sushil Patel, President of SBT. “We are pleased to have Sand join our leadership team,” said Patel. “Our core business of lending in the hospitality industry has a nationwide footprint, and with Sand’s experience in the Southeastern United States, we believe we can strengthen our position in this area even further.”
Sand Patel is a native of North Carolina. He graduated from North Carolina State University with a B.A. in Accounting, and has spent his career to date in the Atlanta area. He has considerable experience in the banking and finance industries, with over 25 years as a core member of senior management teams in various institutions. He has extensive experience in commercial real estate financing with a specialty in hospitality lending. In addition, he has owned and operated several hotels; this experience as both a lender and an owner fits SBT’s corporate expertise that has led to its nationally recognized financial success.
About State Bank of Texas
State Bank of Texas was founded in 1987 by Chan Patel and continues to be owned and operated by the Patel family, with Chan Patel (father) serving as CEO, Sushil Patel (son) as President, and Rajan Patel (son) as EVP and Chief Lending Officer. As the largest Indian-American-owned bank in the United States, the bank focuses heavily on lending within the hospitality industry and currently has a $634 million lending portfolio that includes properties in 27 states nationwide. SBT has been recognized as one of the top performing banks in the country, ranked #1 by ROAA for banks under $10 billion in assets. SBT intends to continue its formula of providing strong financial services to hard-working entrepreneurs while applying the same conservative fiscal practices that have been responsible for its historical success.