SBT President Named to Federal Reserve of Dallas Council
March 08, 2022
The Federal Reserve Bank of Dallas has appointed seven new members to its Community Depository Institutions Advisory Council. State Bank of Texas President Sushil Patel has been selected to a three-year term on this highly-respected banking council.
The council, composed of representatives from financial institutions of various sizes in the Eleventh District, is part of a Federal Reserve initiative to enhance communication with community bankers. The council provides senior Dallas Fed officials with grassroots information on a variety of topics, including economic and banking conditions, regulatory policies, and payments issues.
Guided by the mantra “Building a strong economy together™, the Dallas Fed promotes a strong financial system and healthy economy in the Eleventh Federal Reserve District, which includes Texas, northern Louisiana and southern New Mexico. Through its offices in Dallas, El Paso, Houston and San Antonio, its work for and with the people of its district to build an economy that works for everyone.
“It is an honor to be selected by the Dallas Fed for this important position,” says SBT’s Sushil Patel. “As a banker and business owner, I look forward to bringing a unique perspective to the council.”
Sushil Patel joined State Bank of Texas in 2004 and has served on the Board of Directors since 2000. Prior to joining, Sushil worked as Senior Analyst at Bank of America Securities in the Global Corporate & Investment Bank. He holds a B.B.A. in Finance from The University of Texas at Austin and an M.B.A. from the University of Chicago Graduate School of Business. In addition to his work in banking, the Patel family operates and develops hotels in Manhattan, other boroughs of New York City and throughout the Dallas/Ft. Worth Metroplex. Sushil serves as the Secretary of the Planning and Zoning Commission for the City of Irving and has been on the Planning and Zoning Commission since 2010.
State Bank of Texas was founded in 1987 by hotelier Chan Patel and continues to be owned and operated by the Patel family, with Chan Patel (father) serving as CEO, Sushil Patel (son) as President, and Rajan Patel (son) as Chief Lending Officer and EVP. As the largest Indian-American-owned bank in the U.S., the bank focuses on lending within the hospitality industry.
Click here for the full press release from the Federal Reserve.