The Bank Note - July 2021
Connecting with Shareholders of Alliance Bank Central Texas
July 2021
Message from Todd Moore
The first six months of this year have flown by! In the Financial Update you can see it has been a great year for the bank so far. Since June 30, 2021, assets are up to $433 million, 24% over June 30, 2020. When we bought the State Bank of Jewett, it was $35 million. Loans are up 29% and deposits are up 30%. Operating profit is up 63%. Despite adding staff and making provisions (on a formula basis) to the loan loss allowance, due to dramatic loan and asset growth, 2021 should be a record year for earnings, exceeding our budget.
In AskAlliance, Dr. Theresa Lassetter and Dr. Nick Cobb, partners at Heart of Texas Smiles, talk about their journey to business partnership and the detailed thought behind the design and creation of their new building. Their first design for the building was drawn on an airplane napkin, and now, after months of planning with designers and architects, their vision is coming to life. “People hate going to the dentist, so setting a positive culture, tone and vibe is everything. We try to make coming in as least horrible as possible.” said Dr. Lassetter. “If you ignore problems, they get worse, not better,” Dr. Cobb added.
James Morton, D.D.S., is one of our founding directors. By any measure, Jim has truly led an exemplary life of servant leadership. The Board Spotlight reveals that in addition to serving the community for 35 years in his own dental practice, this Eagle Scout is an avid runner, finishing three Boston Marathons.
The Business Spotlight shines on Jack Walzel of Tri-Co Propane, Inc. From early days of farming and ranching, Jack learned the value of hard work. He has turned that into a highly successful business that serves the energy needs of residential, commercial and agricultural businesses across Central Texas.
Gloria Salas, Randy Petrini and Clarence Hennig all do such great jobs for your bank. You will find them in today’s Bank Note. We are all grateful for all they do, for so many.
Did you know that one way we get new customers is from our Google Reviews? Please click on the Google link in today’s newsletter and leave a positive message. It is an easy way to help your investment grow!
And, as always, call on us if you need us for anything, banking or otherwise. It’s why we’re here!
Hit us up at AskAlliance@alliancebanktexas.com or give me a call on my cell at 254-722-2300.
Todd Moore
Chairman & CEO
Board Spotlight
James Morton, D.D.S., served the Waco community for 35 years as the owner of a successful dental practice focused on family and cosmetic dentistry. As an Eagle Scout, he is a nature enthusiast, with a compassionate and dynamic leadership style rooted in the character traits of Scout Law. His passion for serving others has permeated through many areas of his life, including his service on the Alliance Bank board for the past 14 years.
Business Spotlight
Tri-Co Propane, Inc.
While helping his dad raise Angora goats, farming the corn and hay needed to feed them, Jack Walzel, owner of Tri-Co Propane, Inc., learned the importance of a strong work ethic at an early age. He took those experiences and funneled them into his own journey to business ownership. Today, he has over thirty years of experience as a retail propane company owner, dedicated to meeting the propane needs of commercial, residential and agriculture customers across Central Texas.
20 Questions in 30 Seconds
Gloria Salas joined the Alliance Bank team in 2019. She values great teamwork and feels that she is part of a team who works really well together. When it comes to household chores, she despises washing dishes, but vacuuming is therapy for her.
Congratulations
Please join us in congratulating Clarence Hennig and Randy Petrini on their unanimous board election to the position of Executive Vice President. Randy and Clarence are vital to the daily operations and success of Alliance Bank and we are fortunate to have them on the team!
PPP Update
PPP Forgiveness
It’s that time again! If you received your PPP loan through our bank, you may now be eligible to apply for forgiveness. For Second Draw loans, borrowers can choose a covered period of eight to 24 weeks. Once your covered period is over and you have exhausted your PPP funds on allowable expenses, you are eligible to apply for forgiveness. If your loan amount was less than $150,000 and you used all your proceeds on allowable expenses without decreasing wages and employees, you may likely use the 3508S form to apply for forgiveness. Most other borrowers will be eligible to use the 3508EZ. The longer form, 3508, will be used by borrowers who had to make a larger reduction in their employees’ hours, wages, or positions. There are many exceptions and scenarios affecting which form you may use. Please read the instructions and understand the representations you are making when submitting the appropriate form.
You may find links to the forms at
www.alliancebanktexas.com/ppp. If you have questions regarding which form you are eligible to use, please feel free to call us at 254-741-8000 or
e-mail
AskAlliance@alliancebanktexas.com.
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