State Bank of Texas had a remarkable 2014. In October, we assumed all of the deposits of the National Republic Bank of Chicago (NRB), acquiring them by entering into a purchase and assumption agreement with the Federal Deposit Insurance Corporation (FDIC). With this move, State Bank of Texas acquired approximately $954.4 million in total assets and $915.3 million in total deposits. In addition to assuming all of the deposits of The National Republic Bank of Chicago, State Bank of Texas […]
Category: Press Mentions
State Bank of Texas is #1 Community Bank in the U.S.!
Sageworks has declared State Bank of Texas to be the top community bank out of 4,566 community banks throughout the entire United States with an ROAA (Return On Average Assets) of 5.1% and an ER (Efficiency Ratio) of 24.4%!
Chan Patel: From $2 Million to $90 Million in 27 Years
In an April article, “Chan Patel turned to other motel owners to start State Bank of Texas“, Asian Hospitality journal reports how Chan Patel founded the State Bank of Texas in the 1980s with only $2 Million in capital, and then steadily built upon that to show $90 million in equity capital and total assets of $432 million now. The bank is particularly successful with commercial real estate (“CRE”) loans — so much so that the FDIC allows it to […]
Press Release: Chan Patel Featured in Journal & Bank Earnings Announced
First quarter earnings in 2014 were announced today by the State Bank of Texas and the announcement also mentions how Chan Patel was featured in an article in Asian Hospitality (an Asian-American Hoteliers news magazine), quoting him on some of the elements required to be successful in business, such as having a leader with a true stake in the business: Just like hotels, if an owner doesn’t own more than 5 percent he won’t take much interest in the business. […]