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.
Chan Patel featured in Asian Hospitality, April, 2014.
The bank is particularly successful with commercial real estate (“CRE”) loans — so much so that the FDIC allows it to lend an unusually high amount in commercial loans:
State Bank of Texas’ loan portfolio is unnaturally heavy in commercial real estate loans, but because those are practically the only loans that the bank has been successful with, the FDIC has granted the bank a special dispensation to lend up to 500 percent of its capital in CRE loans.
The article also relates how Chan encouraged his sons to also become bankers with him, and they are now officers at the State Bank of Texas. Sushil Patel serves as Executive Vice President and Chief Lending Officer while Rajan Patel serves as Vice President.
Asian Hospitality is a monthly news magazine and is North America’s largest-selling bilingual Asian periodical focused upon the Hospitality industry.