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Bank Notes: Ciera Bank temporarily relocates

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Ciera Bank temporarily relocate

As construction on Fort Worth Ciera Bank’s new building has begun, the bank has moved temporarily to 1120 Summit Ave., just two blocks north of the current – and future – location. The temporary location has a lobby and drive-thru service.

Ciera Bank tore down its former location, 15,692-square-foot building, at the northeast corner of the Interstate 30 and Summit Avenue and is in the process of building a new three-story brick building with more than 21,000 square feet.

cierabank.com/

Arlington CPA firm joins BDO Alliance

Sutton Frost Cary LLP, a full-service accounting firm with locations in Arlington and Fort Worth, has joined the BDO Alliance USA, a nationwide association of independently owned local and regional accounting, consulting and service firms with similar client service goals.

Sutton Frost Cary has served the Dallas-Fort Worth area for more than 25 years. As an independent member of the BDO Alliance USA, the firm can expand its services by drawing on the resources of BDO USA LLP, one of the nation’s leading professional services firms, and other Alliance members.

“Our client base here in the D-FW Metroplex is increasingly exploring business opportunities in other domestic markets and foreign countries. The BDO Alliance USA allows us to better serve these clients as they expand regionally, nationally and globally, while maintaining our autonomy,” said Managing Partner John Sutton. “In addition to the geographic benefits, our firm will have access to greater technical knowledge and specialty services of BDO USA and its international organization.”

SFC works with privately and publicly held businesses in construction, manufacturing, insurance, distribution and technology industries as well as nonprofit organizations and employee benefit plans.

Origin Bank names Birdwell commercial banking manager

Warrie R. Birdwell has joined Origin Bank as a senior vice president and manager of the bank’s Dallas commercial banking team.

Birdwell has more than 15 years of banking experience, specializing in serving the financial needs of both privately held and publicly owned middle market companies. Birdwell will focus on expanding relationships with existing clients at Origin Bank and fostering new relationships in order to continue growing the bank’s presence in the Dallas market.

“We are very pleased to have Warrie Birdwell join the Origin Bank team,” said Van Pardue, Texas president. “He has extensive knowledge of the banking industry and a proven record of success. More importantly, he truly understands and embodies our corporate culture and will make a tremendous impact on our success as our organization continues to grow.”

Origin Bank, formerly community Trust Bank, is a more than century old, Louisiana-chartered bank, with 41 banking centers throughout Louisiana, Texas and Mississippi. Origin Bank is a wholly-owned subsidiary of Community Trust Financial Corp., a financial holding company with assets of more than $3.9 billion. Community Trust Financial Corp.’s common stock is not listed on any exchange and is traded through individually negotiated transactions.

GM Financial’s quarterly earnings rev up

Fort Worth-based General Motors Financial Co. Inc., the captive finance company for and a wholly-owned subsidiary of General Motors Co., reported on Oct. 21 net income of $179 million for the quarter ended Sept. 30, 2015, compared with $158 million for the same period last year.

Earnings for the nine months ended Sept. 30 were $515 million, compared with $478 million for the nine months ended Sept. 30, 2014.

Consumer loan originations for the quarter were $4.7 billion, compared with $4.3 billion for the quarter ended June 30, 2015, and $4.1 billion for the quarter ended Sept. 30, 2014. Consumer loan originations for the nine months ended Sept. 30 were up, at $13.1 billion, compared with $11.1 billion for the same period 30 last year. The outstanding balance of consumer finance receivables was $28.0 billion at Sept. 30, 2015.

Quarterly operating lease originations were $6.2 billion, compared with $5.6 billion for the quarter ended June 30, 2015, and $1.8 billion for the quarter ended Sept. 30, 2014. Operating lease originations for the nine months ended Sept. 30, 2015, rose dramatically to $14.8 billion, compared with $4.1 billion for the same period in 2014. Leased vehicles, net was $16.9 billion at Sept. 30.

The company had total available liquidity of $11.6 billion at Sept. 30, consisting of $1.6 billion of cash and cash equivalents, $8.0 billion of borrowing capacity on unpledged eligible assets, $1.0 billion of borrowing capacity on unsecured lines of credit and $1.0 billion of borrowing capacity on a Junior Subordinated Revolving Credit Facility from GM.

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