Fort Worth, Texas (PRWEB) November 11, 2010
Texas Exchange Bank (TEB), formerly the Bank of Crowley today announced the opening of its first Metroplex branch in Fort Worth and two new officers: President and Director Casey Sullivan and Executive Vice President Rick Jenkins. The move is the latest in a string of moves by the newly capitalized bank to become the lender of choice to businesses in North Texas.
The 3,500 square-foot branch is in response to increasing commercial loan demand and growth since the bank’s launch announcement earlier this summer. Doors will open at 9:00 a.m. on November 15 for business at: 2820 South Hulen, Fort Worth, 76109. The bank is currently hiring for teller and new accounts positions.
“The business environment is perfect for Texas Exchange Bank to succeed,” said bank President and Director Casey Sullivan. “Most existing bank portfolios are encumbered with problem loans, over-exposure in out-of-favor asset classes and investments that are forcing them to increase their reserve requirements – thus diminishing their capacity for new lending. By way of contrast, we have a pristine balance sheet with virtually no problem loans and lots of new capital. The bottom line: Texas Exchange Bank stands ready to make real estate and other commercial loans.”
Casey Sullivan joins TEB, having served as a Board Member of TEB since 2008. In addition, he spent five years as the President of BSB Capital and as Executive Vice President of CSG Investments, Inc., both wholly owned affiliates of Beal Bank. During his 19-year career, Sullivan has personally originated, structured and managed well over $1 billion in investments across a wide spectrum of asset classes.
Rick Jenkins brings over 18 years of commercial business and commercial real estate lending to Texas Exchange Bank. Most recently he was the downtown Fort Worth banking center president for Southwest Securities, FSB. His diverse background in both the banking and commercial real estate arena has earned him a valued reputation in strategic planning and portfolio management while focusing on understanding the customer’s needs and objectives and how the bank can best help achieve those objectives.
“Texas Exchange Bank is already originating $3 million-to-$7 million business and real estate loans in North Texas,” said Rick Jenkins, Executive Vice President of Texas Exchange Bank. “This branch is ideally located to meet the needs of North Texas customers.”
Recently announced Texas Exchange Bank brings together a familiar team. As the CEO, Mike Palmer is working alongside bank owner Geoffrey Rayner to lay the groundwork for long-term success. Raynor was one of the original investors in Texas Capital Bank, now one of the largest independent banks in Texas with over $5.3 billion in assets, and Palmer was President, Fort Worth Region. Both plan to duplicate their success with TEB.
“Texas Capital Bank was a huge win for everyone involved -- borrowers, depositors and investors,” said Mike Palmer, CEO of Texas Exchange Bank. “With Texas Exchange Bank, we will be reading from the same proven playbook to win again.”
Texas Exchange Bank has a strong pedigree of quality bankers that is already making a splash in the North Texas Metroplex. Crowley branch President Jerry Pace, for example, has recently won “Best of the Best Awards: Banker” for the second year in a row from The Star Group Newspapers (http://bit.ly/bestbanker). 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 a current focus in the DFW Metroplex. 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, and plans to open additional branches in Dallas and other Metroplex locations in 2011 and beyond. We are actively funding $2-to-$5 million commercial 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.
Fort Worth: 2820 South Hulen, 76109. Lobby and drive-through are open M-F from 9:00 a.m. – 5:00 p.m. Contact Vice President Esther Thedford at 817-349-6609 for additional questions about branch services or hiring.
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