MCALLEN, Texas – Texas Regional Bank reached over $1 billion in assets last quarter, a milestone that cemented the institution as one of the top three chartered banks in the Rio Grande Valley and one of the top 100 banks in Texas.
According to their annual shareholder report, the chain, which operates 20 locations across Texas – including 12 in the Valley, hit the landmark figure last year after an “unprecedented” increase in acquisitions surpassed expectations.
Texas Regional Bank Chairman Michael Scaief attributes their success to finding opportunities and building relationships in the communities they service. This encompasses our neighbors across the border.
“The business down in Mexico is tremendous,” said Scaief. “The manufacturing, the produce, the agricultural – most of that stuff comes north and into the United States, and so it’s natural to create a partnership with these folks.”
In June 2018, Texas Regional Bank established the International Private Banking (IPB) division to accommodate their Mexican customers. Headed by TRB Senior Vice President Eduardo Caso, the IPB team brought in over 100 unique binational relationships, accounting for over $45 million in total deposits and $30 million in construction type loans or investment last year. As a result, the South Texas market reported a deposit growth of $47 million in 2019, bringing their deposit total to $619 million. Their loan portfolio grew to $417 million.
Continuing the momentum, the organization launched TRB Foreign Exchange Services in February to expedite currency exchanges for their international customers.
“Mexico’s doing great,” said Scaief. “It gets a bad rap, kind of like the Valley does, and it’s not necessary.”
While obtaining $1 billion in assets is a significant feat, Scaief maintains that TRB is still the community bank run by “the people you know.” With over 800 shareholders, most from the Valley, the bank is structured so no family can own a majority. Scaief says TRB’s commitment to the people of South Texas is the bedrock of their business and has been since its founding in 2010.
“Our idea was the economy is suffering,” said Scaief. “In 2008, 2009, 2010, we’d seen a super-regional sale; we’d seen another bank fail; and we had a whole lot of customers, including myself, that had lost their home. So, it was our focus to bring back relationship-banking as quickly as we could.”
Ten years on, and TRB has opened its new corporate headquarters in Harlingen, invested in many local projects – including their recent partnership with GR Fresh, and received recognition for their philanthropic endeavors. Their accomplishments highlight Scaief’s belief in the necessity of regional banks for the prosperity of the local communities.
“Community banks are very important to the Valley,” said Scaief. “And, I’m a big proponent to see the success of all of them that are here. We have some great competitors, and competition makes it better for everybody. And, so, I’m proud of our size, but I’m also proud of what all the other banks do for the Valley because I think it’s very important.
Editor’s Note: The main image accompanying the above news story shows Texas Regional Bank Chairman Michael Scaief and Texas Regional Bank Senior Vice President Eduardo Caso.