State Bank of Texas Honored with Top Ranking Among Independent Community Banks
May 16, 2023
State Bank of Texas (SBT) is the number one, top-performing community bank with more than $1 billion in assets as ranked by the Independent Community Bankers of America® (ICBA) for 2023. The ICBA compiled this year’s rankings to recognize community banks that are consistently high performers. Using FDIC data, they took pre-tax return-on-assets (ROA) figures from the past three years, with the most recent year more heavily weighted.
SBT credits its growth to being owner operated and as such, can adapt quickly to market demands and client needs. Additionally, being focused on hospitality lending contributed to the bank’s growth and success. During the COVID-19 crisis, when many banks halted lending to hotels, SBT saw an opportunity to acquire new clients. By helping to finance new hotel owners and assist them on their entrepreneurial journey, SBT is seen as more than just a lender or a bank.
“Combined, our owners and board own nearly 165 hotels in the US. That knowledge and experience is of significant benefit to the health of our business and to our clients,” said Sushil Patel, President, SBT. “Our clients understand the value of having a lender they can contact at any time. SBT, as a community bank, is best positioned to serve their financial needs, making their dreams a reality. We didn’t create hospitality lending, but we’re making it better.”
The Independent Community Bankers of America® creates and promotes an environment where community banks flourish. ICBA is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education, and high-quality products and services.
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.