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Keeping you up to date with the latest news about American Bank and issues that affect your financial life.
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American Bank Opens New Austin Office in The Domain
December 14, 2015 – Austin, TX – American Bank opened its fourteenth location on Monday, December 14, with a Loan Production Office (LPO) to serve North Austin, Round Rock and the surrounding communities. The office is located in the heart of The Domain, a premier mixed-use real estate development in Austin’s northwest corridor. The Domain LPO occupies approximately 2,000 square feet in Suite 440 of the d7 building, a 222,000 RSF Class “A” office project located at 11501 Alterra Parkway.
The Domain LPO is American Bank’s fourth location in the Austin market. It is staffed by two experienced commercial lending officers: Donna Day and Rob Wilson, with Ms. Day managing the activities of the office. Both Day and Wilson have expertise in general business lending, as well as real estate lending in the Austin market. The Domain location also has available space for American Bank’s Trust, Cash Management and Mortgage Lending officers to conveniently meet with customers from the North Austin and surrounding areas.
American Bank was founded in 1970 in Corpus Christi, and is the largest locally-owned and independent financial institution in that area, with assets totaling nearly $1.3 billion as of September 30, 2015. Recognizing the need for a strong community bank with a local board, which specializes in financial solutions for small- to-mid-sized businesses, entrepreneurs, professionals and executives, the bank entered the Austin market in 2001 with a Westlake branch, now located at 3520 Bee Caves Road. Two additional Austin locations followed: Downtown, at 620 Congress Ave., Suite 100, which opened in 2012, and the Austin Region Executive Offices in the One American Center building at 600 Congress Ave., Suite 1850, which opened in 2013. Ten other offices are located in Texas: six in Corpus Christi, and one each in Port Aransas, Rockport, Goliad and Victoria. The bank offers a full range of personal and business loan and deposit solutions, along with mortgage lending and trust and asset management services. A full range of non-bank investment services is also available through American Investment Services, a division of Herndon Plant Oakley Ltd., member FINRA/SIPC.
American Bank Board Announces Leadership Transition
Corpus Christi, TX – American Bank’s Board of Directors has announced the election of new executive and board leadership, effective January 1, 2016. Ben B. Wallace has been elected Chairman of the Board and Richard F. Scanio President and CEO.
Wallace will replace Co-Chairman and Chief Executive Officer Al Jones, who is stepping down from those roles effective December 31, 2015. Wallace has been serving as Co-Chairman of the Board of Directors and Scanio as President and Chief Operating Officer. Jones will stay actively involved with the Bank, continuing to serve as a Director and President of American Bank Holding Corporation, the entity which owns American Bank, American Financial Insurance Services (which owns Borden Insurance), AB Asset Management, and ABNA Investments.
“American Bank just completed 45 years of service to the Corpus Christi community and is going strong, with expansion in other areas of Texas. This is a perfect time to begin the transition to the next generation of American Bankers,” said Jones. “As a locally-owned and operated organization, American Bank is built on personal relationships. The Hawn and Scanio families started this bank, and the next generation of the founding families is still actively involved. You do not find that in many banks these days.” Jones added, “We are a family bank through and through. From our ownership to our employees, the American Bank family is among the finest you will ever find.”
Wallace has served the Bank as general counsel and on the Board of Directors since 1984. He was elected Vice-Chairman in 2004, and Co-Chairman in 2014. Wallace is involved in other business interests throughout Central and South Texas. Scanio has been with the Bank since 1989, serving in various positions including Chief Lending Officer. He was elected to the Board of Directors and named Executive Vice President in 2004. In 2007, he was named Chief Operating Officer and in 2009 became President of the Bank. Jones said, “Both men are extremely capable banking professionals; their experience will serve American Bank well.”
Jones has been with the Bank since its inception in 1970, and was elected to the Board of Directors in 1976. He started as Cashier and later served as Vice President of Operations. From 1988 to 2004, he held the position of President and CEO. In 2004, he was elected Chairman of the Board and CEO.
“Al is the longest-serving member of the American Bank family, and has been instrumental in building this Bank from the ground up, literally,” said Wallace. “His legacy to the Bank and the communities we serve is one of dedication, loyalty, and creating better places to live and work.” Since Jones became Chairman and CEO in 2004, American Bank’s assets have more than doubled, from $633 million to $1.3 billion.