Exciting Developments Underway
In a recent interview with the Dallas Business Journal, Carl Cravens, our Chief Banking Officer, shared our plans to more than double our headquarters space by relocating from the current Uptown location to the iconic Old Parkland East Campus. This move reflects our commitment to growth, enabling us to better serve our clients and bankers as we continue to expand. Alongside the opening of our first branch in Collin County, we’re strengthening our presence across all major Texas markets, delivering exceptional service and innovative banking solutions to even more communities. Dallas Business Journal has the story >
Susser Bank will more than double its space by moving its headquarters from the Crescent in Uptown to another iconic Dallas location to accommodate growth.
The Dallas-based bank also plans to continue expanding into new Texas markets including with its first branch in Collin County. Both moves come on the heels of a $40 million capital raise earlier this year and signify continued momentum for the bank.
Susser will move its headquarters from roughly 6,500 square feet in the Crescent to more than 14,000 square feet in Old Parkland East, a new addition by developer Crow Holdings to the office campus known for Jeffersonian architecture and a roster of deep-pocketed finance tenants. Carl Cravens, executive vice president and chief lending officer for Susser, said the bank intends to move into the new space in summer 2025.
He said the move was “just due to the fact we’re out of space and the floor plan at Old Parkland where we’re moving to is just a better fit for us.
“We’ve added bankers and we’ve added staff to our back office on the credit analyst side and the portfolio management team and just needed more space,” Cravens added.
Cravens said the bank will have space for around 40 people in the new office.
The bank had $2.15 billion in assets as of March 31, up more than 12.5% a year prior, according to call reports filed with the Federal Financial Institutions Examination Council.
Susser Bank has been headquartered in the Crescent since 2021, after previously being located in Bedford. The Susser family acquired a majority stake in BancAffiliated Inc. in 2018 and converted the bank from a national bank to a state-chartered bank in 2020, followed by the name change and HQ move to Dallas. Sam L. Susser, a longtime Corpus Christi businessman and the bank’s chairman, became CEO in 2021.
Cravens said the bank’s lease at the Crescent was coming up for renewal and bank leaders had to make a decision about whether to add space there or look at other options. Old Parkland made sense because Sam Susser’s personal office is already located there and it offers a “good central location.”
“We were familiar with the facilities, the meeting spaces and the debate chambers where we’ve held several meetings, guest speakers and shareholder meetings,” Cravens said. “The layout and the familiarity of the location was something we were accustomed to. And we like that it’s just easy to get in and out of for our clients.”
Susser Bank will join law firm Polsinelli PC, which recently inked a lease for 41,000 square feet at Old Parkland East.
In addition to the headquarters move, Susser Bank also has plans to open a branch in Plano, its first in Collin County. The bank, which had $1.7 billion in deposits and a $1.4 billion loan portfolio as of March 31, currently operates nine branches in Dallas-Fort Worth, Houston, San Antonio and Round Rock. The bank also operates three loan production offices in Austin, Corpus Christi and Plano.
The bank previously disclosed plans to convert the Austin loan production into full-service branch this year, and now it intends to follow suit in Plano as well. The branch will be located at 6900 N. Dallas Pwky., according to a filing with the Texas Department of Banking.
Following the capital raise in January, Sam Susser said the bank would focus on growing commercial and industrial relationships and continuing to hire additional commercial lenders and employees for its mortgage business.
Susser brought on Janine Marshall as a market president about two years ago to lead an expansion into Collin County that has gone well for the bank. Today, about 4% of Susser’s loan portfolio comes from Collin County and Marshall’s team has grown to five bankers, Cravens said.
“It was time to find a branch setting for her,” Cravens said.
The bank will look to continue growing the team in Plano. Cravens said he could see the team doubling within the next year and half as Susser continues to gain momentum in the market.
By Holden Wilen – Staff Writer, Dallas Business Journal
Jul 25, 2024