Our story

SBT is the culmination of years of hard work, grit and a determination to succeed, driven by founder Chan Patel. His story is the story of State Bank of Texas.

Founded on hospitality

Chan Patel, SBT’s founder, CEO and Chairman,
is the American Dream personified.

Born in Bombay, India in 1945, he grew up in an 8’ x 8’ room with four siblings. In 1965, with $600 (his parents’ life savings), he came to America to attend Stanford University, where he earned his bachelor’s degree with top honors.

In 1976, while working three jobs to support his family, Chan bought his first hotel, which quickly began to turn a profit. Over time, he expanded his holdings to a total of 17 hotels. Never one to rest on his laurels, Chan learned that his fellow hard-working, entrepreneurial immigrants were struggling to get business loans due to cultural differences. He set out to make that right, and in 1987 he founded the State Bank of Texas.

Chan Patel

Banking on relationships

Chan Patel’s banking dream wasn’t easy to achieve.
In the 1980s, the economy was struggling. Starting a bank required $2 million of capital. With Chan able to invest $1 million on his own, he approached other local Indian businessmen to purchase shares, and family and friends to invest $100,000 each in exchange for lifetime directorships.

On October 19, 1987 (Black Monday, the day the stock market crashed), SBT opened it doors. With all eyes watching the “Motel Patels,” he and his investors took bank training courses and hired a single paid employee. They made it through the worst of the 1980s recession, and later hired professional bankers to serve a growing customer base. From the second quarter of its opening to this day, SBT has never reported a quarterly operating loss.

A wealth of experience

Today, over 30 years after its inception, SBT maintains a book equity value of $250 million — all without having to raise another penny in capital. Family-owned and -operated, specializing in lending solutions for the hospitality industry, SBT is the largest Indian-American-owned bank in the U.S., with over $2 billion in assets.

Today’s SBT continues to shape the banking and hospitality industries, under the stewardship of Chan Patel and the execution and drive of his two sons, Sushil and Rajan. Yet despite their success, the Patels maintain the values that made them successful: developing one-to-one relationships with their customers, and working steadfastly to assist those customers in need of financing.

The Patel family

Like any good family, we believe in fairness and integrity with our customers. We take great pride in developing long-lasting relationships that have spanned generations.

Chan Patel, Founder

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