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 agreed to purchase approximately $626.1 million of the failed bank’s assets. It was an exciting opportunity, and we are pleased to have been in a position to take advantage of it.

Even before that acquisition, we were named the top performing community back in the United States. Sageworks, a financial information company and the leader in the financial analysis of privately held companies, performed an analysis of more than 4,500 banks with between $100 million and $10 billion in assets, determining we were at the top of the list.

Earlier this month, SNL Financial, the premiere provider of breaking news, financial data, and expert analysis on business sectors critical to the global economy, released its annual ranking of 2014’s top 100 best performing banks with assets between $500 million and $5 billion. Once more, State Bank of Texas is proud to have earned a spot on the top of the list. Our purchase of NRB was certainly a factor, but our strong existing platform was the basis for this additional success.

Texas has been a place of tremendous opportunity for me and for the State Bank of Texas. I will always be grateful for the chances afforded me in this business climate, as well as to my sons, Sushil Patel, EVP and Chief Lending Officer, and Rajan Patel, SVP of Lending. By continuing our formula of providing loans to hard-working entrepreneurs while applying conservative fiscal practices, we envision continuing success.