The Bank Note
Connecting with Shareholders of Alliance Bank Central Texas
April 2019
Message from Todd Moore
When I look back on the past twelve years, it is exciting to see how our growth has helped us meet the evolving needs of our customers. From our first branch location in a strip center next to a hair salon, to our now five locations in Waco, Donie, Jewett and Woodway, our innovative approach to providing a personalized banking experience has helped families and business owners across Central Texas, and beyond.
Our team recently assisted a couple from Dallas who was referred to us by a corporate partner in the north Texas market. After reviewing their needs, we matched them with a secondary market, long-term fixed rate mortgage. Here is what they had to say about their experience:
“I would like to sincerely thank you all for your help throughout the past twelve months. As a first time buyer with a lot on my plate right now both personally and professionally, I couldn’t have expected a smoother process. It really meant a lot to us to have received such fantastic support along the way. Be sure that Kelly and I will reach out to your team for any future needs.” –Greg
Our banking service is eliminating geographical barriers, and our lines of products and services continues to expand. For many years, we were unable to offer 30-year mortgages. What has traditionally been a cumbersome and frustrating process for borrowers, we are now able to better facilitate with the customer service and care our clients have come to expect and appreciate. We hope you are enjoying this newsletter and that you learn about the many ways we can serve you through technology and new products. Call, email or come see us. We want to hear from you!
Todd Moore
President & CEO
Cell Phone: 254.722.2300
Alliance Bank Central Texas Makes National News
While the number of credit unions purchasing banks is on the rise, it is not yet as common that a bank purchases a credit union. So when it does, it hits national industry news! Credit Union Journal and American Banker featured stories about our unique approach to acquiring the Texas Farm Bureau Federal Credit Union.
Financial Update
For the first quarter of this year, the bank reported a $34 million increase in loans (17%), $37 million in assets (14%), and $42 million increase in total deposits (17%)
over the same period last year. Strategic efforts to increase core deposit checking accounts have been successful as they were up $6 million (14%). This helps the bank
replace higher cost wholesale funding, which has been used in part to fund impressive asset growth. As of March 31, 2019, the bank generated net income before tax
and loan loss provisions of $530 thousand, and a net income of $363 thousand.
Making Customer Payments Easy
Want to maximize sales by making it easy for customers to pay? Merchant card services from Alliance Bank not only allows you to process major credit and debit cards, but also cut down on processing time, errors and billing expenses....getting your money to you faster! Let us provide a no-cost analysis to compare programs. Contact Letty Coronado to find the best merchant services solution for you.
Record Breaking New Accounts
The opening of our branch in the Texas Farm Bureau building was a huge success. Our team has been working diligently to meet the needs of our Texas Farm Bureau customers, totaling 381 loans and 425 new accounts to date!
Construction Corner
Construction at the new full service Texas Farm Bureau branch location is well underway and will soon be home to a modern teller pod design, waiting area, conference room and an exterior entrance for employees’ family members and retirees. The project is scheduled to be complete in early May.
BEFORE
AFTER
About Alliance Bank Central Texas
Alliance Bank Central Texas is a community bank founded by a local board of directors, owned by a diverse group of over 200 shareholders, and operated by seasoned bankers, most of whom have spent their entire careers in Waco. In less than ten years it has seen assets grow from $35 million to over $300 million. The bank is focused on helping entrepreneurs, professionals and residents, and understands the condition of the local market. It feels real value is created through people connecting personally with their bankers, versus simply having transactions with a bank. Alliance Bank Central Texas provides a full range of financial services including business, personal and mortgage loans. It also provides a variety of deposit products and services including commercial, personal and certificates of deposits along with electronic banking, mobile deposit and cash management services.
Read Previous Newsletters