New Arlington branch for PlainsCapital
PlainsCapital Bank is consolidating its two Arlington branch operations and staff into a new, larger, modern facility near AT&T Stadium.
PlainsCapital’s branches at 1501 North Center St. and 4501 Matlock Road closed permanently on July 27, and on July 30 the bank’s new 9,200-square-foot Arlington location at 804 N. Collins St. opened for business.
Construction on the new commercial banking center began in July 2017. The center features a 3,200-square-foot lobby, 6,000 square feet of commercial lending space, and state-of-the-art technology services, including an interactive console in one of the two drive-thru terminals that will allow customers to video conference with a remote PlainsCapital teller.
“We believe there should be a complementary balance between the digital and physical banking experiences we provide our customers,” said bank President and CEO Jerry Schaffner. “There is so much business development occurring in North Texas, particularly in the high-growth area around Arlington. We want to maintain prominent visibility in the community, and our new location is an important part of that. PlainsCapital’s commercial branch network plays a significant role in our business strategy. That said, we are also committed to providing the latest banking technologies to further expand our service offerings.”
The centralized location on North Collins gives PlainsCapital’s commercial bankers easy access to points east and west along the Interstate 30 corridor. The new Arlington branch is also situated in a designated low-income area, giving PlainsCapital the chance to assist in the revitalization happening around AT&T Stadium, according to a news release.
The changes bring PlainsCapital’s North Texas branch network to 20 locations.
The architectural firm for the project was Fusch Architects of Dallas, while the general contractor was Lubbock-based Lee Lewis Construction.
Dallas-based PlainsCapital Bank is the sixth largest bank by deposit market share headquartered in Texas. It has more than 60 branches with more than 1,200 employees. The bank is a wholly owned subsidiary of Hilltop Holdings.
AFFILIATED BANK RECEIVES
INVESTMENT FROM SUSSER
Susser Bank Holdings LLC announced July 2 its acquisition of about 66 percent of the common shares of Arlington-based BancAffiliated Inc. and its wholly owned subsidiary, Affiliated Bank NA.
“The investment in Affiliated provides a source of capital to accelerate its long-term growth and diversification strategy, designed to benefit the bank as well as its customers, employees and shareholders,” said Sam L. Susser, manager of SBH and the new chairman of the board of Affiliated, who is based in Corpus Christi.
“This investment was the perfect answer to the needs of all of our stakeholders,” said Garry Graham, who has been president and CEO of Affiliated for 20 years. He will remain in those positions.
“Like many community banks, we had shareholders that needed a strong liquidity option but have others that really want to see Affiliated continue to grow and support our long-term customers and dedicated team members,” Graham said. “The Susser transaction allows us to meet the needs of our team without an outright sale of the bank, which would have led to layoffs and disruption for our highly valued customers. Our markets are strong and we now have access to capital to help clients achieve their vision and goals.”
Commerce Street Capital LLC acted as financial adviser to Affiliated. Luse Gorman PC acted as legal adviser to Affiliated. Alston & Bird acted as legal adviser to SBH. Affiliated Bank began in 1959 as a credit union – the Affiliated Federal Credit Union. The bank operates from its headquarters in Arlington and has four full-service branches (Arlington, Bedford, Garland and Round Rock), seven mortgage locations (Arlington, Brownwood, Dallas, Fort Worth, Frisco, Round Rock and Waco) and one dedicated SBA office in Plano. The bank offers a variety of Small Business Administration, mortgage, business and consumer loans as well as business treasury management services and personal banking services. The bank’s total assets as of March 31, 2018, were $671 million.
TEXAS CAPITAL BANCSHARES
NAMES CHIEF RISK OFFICER
Texas Capital Bancshares Inc., the parent company of Texas Capital Bank, announced Aug. 6 that John D. Hudgens will step down as chief risk officer of Texas Capital Bank in September and will resign as chief risk officer of Texas Capital Bancshares effective Dec. 31. Hudgens will serve as a vice chairman until his retirement in August 2019.
Veteran banker John Turpen will become the new chief risk officer of Texas Capital Bank on Sept. 10 and chief risk officer of Texas Capital Bancshares on Jan. 1. Hudgens and Turpen will work together the rest of the year to ensure an effective transition.
“John’s [Hudgens] business acumen and commitment to developing a strong risk management culture have made him integral to our success as one of the fastest-growing and most successful banks in the country,” said C. Keith Cargill, president and CEO, in a news release.
Hudgens joined the bank in 1999 and became chief risk officer in 2009.
Turpen most recently was chief risk officer for corporate and commercial banking at U.S. Bancorp, the country’s fifth largest commercial bank.
The news release said Turpen joined U.S. Bancorp in 2009 after holding a number of progressively senior positions in credit, risk and strategic planning at HSBC and Wells Fargo. He earned a bachelor’s degree and an MBA from Drake University.
Texas Capital Bancshares Inc. (NASDAQ:TCBI), a member of the Russell 1000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank. Headquartered in Dallas, the bank has full-service locations in Austin, Dallas, Fort Worth, Houston and San Antonio.
HILLTOP PLANS NEW HQ
IN UNIVERSITY PARK
Dallas-based Hilltop Holdings Inc. (NYSE: HTH), parent of PlainsCapital Bank, announced that it has invested in a new commercial office building in University Park to serve as headquarters for both Hilltop and its largest subsidiary, PlainsCapital Bank. Joining Hilltop in the transaction is the company’s chairman and largest shareholder, Gerald J. Ford, who will be an equal investing partner in the project.
Hilltop and the Ford family will each own 25 percent of the six-story, 119,000-square-foot Class A building at 6565 Hillcrest Ave. Each also owns 50 percent of the 1.7-acre tract on which the building will sit. A third party unaffiliated with Hilltop and the Ford family will own the remaining 50 percent of the building.
Strode Property Co. is the project’s developer. The building will be named Hilltop Plaza, and construction is expected to be completed in the second half of 2019.
“Hilltop Holdings has experienced significant growth in the past five years, and this new headquarters project signifies our continued commitment to investing in our company and community,” said Hilltop’s co-CEO and President Jeremy B. Ford. “Hilltop Plaza will be a highly visible and unique property in one of Dallas’s most desirable areas. It is a fitting symbol of Hilltop Holdings’s strength and position as a financial services leader in Texas.”
Hilltop and PlainsCapital Bank will lease about 68,000 square feet of corporate office space on the top four floors of Hilltop Plaza and will also open a PlainsCapital Bank branch on the building’s first floor. Hilltop will occupy just over half of the building’s rentable space and expects to move in during the fourth quarter of 2019. The remaining space will be leased for commercial office, retail and restaurant use. The building will pursue LEED Silver certification.
Hilltop invested about $24 million in the project — about $5 million for its stake in the building and about $19 million for its stake in the land. Construction began in the fourth quarter of 2017, and total building costs are expected to be about $60 million.
“Combining our headquarters offices into this new location provides an important opportunity to increase collaboration and efficiency within the company,” said Hilltop’s co-CEO and Vice Chairman Alan B. White. “Hilltop Plaza will serve as the flagship for our expanding organization as we pursue our plans for long-term growth.”
The building was designed by the Dallas-based architectural and design firm Omniplan and will be located at the intersection of Hillcrest and Daniel avenues. The site is near Southern Methodist University and just south of Snider Plaza shopping center.
Hilltop was advised in the transaction by Bracewell LLP as legal counsel and by Lincoln Property Co. Rogers-O’Brien Construction Co. is the general contractor.