EVP, Houston Market President, William Griffin, discusses plans to grow the bank’s Houston presence to match the level of success achieved in Dallas-Fort Worth. Deposits went from zero to $225M in just 2 years, demonstrating his and the bank’s commitment to bridging the gap between its DFW and Houston markets. The bank aims to provide personalized banking, mortgage services, and treasury management to small- and medium-sized businesses and their employees in Houston while leveraging the latest technology to deliver responsive, personalized service. Dallas and Houston Business Journals have the story >

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Susser Bank aims to make its presence in Houston as large as it is in Dallas, even though it has a decades-long head start in the latter, the bank’s Houston-area leader said.

The Dallas-based bank is led by Chairman and CEO Sam L. Susser, who previously led Houston-based Susser Petroleum Partners, which was acquired by Dallas-based Energy Transfer Partners LP in 2014 and then renamed Sunoco LP (NYSE: SUN) and relocated to Dallas. In 2018, Susser Banc Holdings Corp. acquired a majority stake in Susser’s previous parent company, BancAffiliated Inc.. Affiliated Bank NA was renamed Susser Bank in May 2021.

The bank’s Dallas presence dates back to 1959, but its Houston operations started in May 2021 when William Griffin joined as executive vice president and Houston market president. Locally, the bank started with a loan production office before opening its first full-service branch location at 1900 Post Oak Blvd. in early 2023.

Susser Bank had $1.26 billion in deposits in the Dallas-Fort Worth-Arlington metropolitan area, compared with $225.27 million in deposits in the Houston metro as of June 30, 2023, according to Federal Deposit Insurance Corp. data. Overall, the bank had $2.1 billion in assets, $1.9 billion in deposits and a $1.5 billion loan book as of Sept. 30. The bank is committed to closing the gap between its Houston and Dallas markets, Griffin said.

The Houston market is important for the bank, and particularly for Sam Susser, Griffin told the Houston Business Journal.

“He believes the Houston market should be as big as the Dallas market, even though they started a long time before we did,” Griffin said.

Susser Bank hit the ground running when it first entered the market, and opening its first full-service branch has only accelerated that growth, Griffin said. The bank grew its loans and deposits by double digits last year — a trend he expects will continue in the years to come. Additionally, it has built a team of 11 employees, most of whom are experienced bankers in the Houston market, Griffin said.

Susser Bank’s core strategy is to be a commercial bank serving small- and medium-sized businesses and their owners and employees, Griffin said. The bank offers private and personal banking services, a full-service mortgage operation and a treasury-management platform. Griffin said being led by someone like Susser is a differentiator for the bank in the market.

“The fact that we are growing a bank that’s led by an entrepreneur, we think that is a great selling point for growing our business and it makes us a little different,” Griffin said.

By Chandler France – Reporter, Houston Business Journal

Jan 29, 2024

Chairman and CEO Sam L. Susser talks entrepreneurship, lessons from going public, leadership and the key to business excellence with the Texas Business Hall of Fame.

Read the interview, here.

Susser Bank recently closed on $40.3M in equity fundraising, providing opportunities to grow our commercial and industrial relationships, while continuing to provide the same level of outstanding service to clients. Dallas Business Journal has the story>

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Susser Bank has more than $40 million in new capital as it looks to continue growing loans and deposits, with a focus on commercial lending.

The Dallas-based bank’s holding company, Susser Banc Holdings Corp., recently closed a $40.3 million round of equity fundraising. CEO Sam Susser said the bank initially targeted raising about $20 million. The private capital raise included money from 68 new investors as well as several existing investors. The largest investment was $10 million from an entity that is majority owned by the Susser family.

Susser Bank’s successful capital raise follows a year when the banking industry dealt with its greatest crisis since the Great Recession with the failures of several large institutions. In addition to the industry turmoil, banks have also held off on raising capital as they have tightened their balance sheets amid soaring interest rates, the possibility of an upcoming recession and challenges in the commercial real estate market.

Following the oversubscribed round, Susser launched a tender offer for $17.5 million of shares to legacy investors of Affiliated Bank, Susser Bank’s predecessor, who have generally been invested for 20 to 25 years.

“That is underway right now and creates a path to liquidity for any shareholders that have been around a long time and would like to monetize their investment,” Susser said in an interview.

The Susser family acquired a majority stake in BancAffiliated Inc. in 2018. The family converted the bank from a national bank to a state-chartered bank in 2020, renamed it Susser Bank and later moved its headquarters from Bedford to the Crescent in Dallas. Susser, a longtime Corpus Christi businessman, became CEO in 2021.

Under the Susser family’s control, the bank has more than tripled its assets from about $700 million to $2.1 billion as of Sept. 30, 2023, according to federal filings. Susser Bank has $1.9 billion in deposits and a $1.5 billion loan book.

Susser said his bank kept a strong balance sheet and continued to grow last year while others struggled in the wake of the failures of Silicon Valley Bank, Signature Bank and First Republic Bank.

“They were either too hot in a post-Silicon Valley world, meaning their loan-to-deposit ratios were too high and not enough liquidity on hand, or they had liquidity but they were getting it through borrowings instead of their core deposits,” Susser said. “We were blessed to not be in that category.”

Some banks that have historically operated conservatively with low loan-to-deposit ratios also ran into trouble because of their bond portfolios. Banks bought tons of bonds after the Federal Reserve slashed interest rates during the pandemic, but rate hikes since 2022 have eroded their value.

“Knock on wood, our balance sheet was very strong during the crisis,” Susser said.

Susser Bank has also expanded into new Texas markets as part of an effort to become a statewide institution. It operates nine branches, including six in Dallas-Fort Worth, and has opened locations in Houston, San Antonio and Round Rock, outside Austin. The bank also currently operates a loan production office in Austin slated to become a full-service branch later this year.

Amid that growth, Susser said it became “time to bring in some additional capital.”

“This capital, along with our internally generated profits, will hopefully allow us to grow the bank another $300 [million] or $400 million [in assets] over the next couple of years,” Susser said.

As the bank puts its new capital to work, Susser said the focus will be on growing commercial and industrial relationships. The bank will also continue hiring additional commercial lenders and employees for its mortgage business. In the last year, Susser Bank added 14 employees as of Sept. 30, growing its workforce to 243.

Susser Bank has grown assets at a “double-digit” clip annually over the last five years, and Susser said he sees that trend continuing in 2024. The first half of the year “looks pretty good,” he said, and the second half could be even stronger if the Federal Reserve cuts rates as many economists have predicted. While he doesn’t fixate on certain asset size goals, Susser wants to ensure the bank grows consistently while continuing to provide a high level of personalized service to its customers.

By Holden Wilen – Staff Writer, Dallas Business Journal

Jan 10, 2024

Following the announcement of our $40.3 capital raise, Chairman and CEO Sam L. Susser, was interviewed by David Johnson, Business Editor and Host of CEO Spotlight on KRLD-AM, one of the largest radio stations in the country. Susser shared insights into Susser Bank’s approach to providing customized banking solutions for our clients, highlighting the importance of nurturing long-term relationships over transactions. The interview also covered the current state of the mortgage industry with respect to Susser Bank Mortgage and expressed confidence in the bank’s ability to thrive in the current economic climate while maintaining its high level of customer service.

D CEO’s signature special publication, the Dallas 500, features profiles of the most influential North Texas executives in more than 50 industry categories. We’re proud to announce that Sam L. Susser, Chairman and CEO, has been honored for the second year in a row as one of D CEO’s Dallas 500. While this recognition celebrates our CEO, it is the collective efforts of every member of the Susser Bank team that has made this accomplishment possible. We are proud to maintain our customer-centered approach that drives our unwavering “100 year” commitment to providing exemplary service to our clients and an outstanding place to build a career for our bankers and support team.
 
You can access the full list of the Dallas 500 here.