SouthStar Bank, Author at SouthStar Bank, S.S.B.

by SouthStar BankAugust 9, 2023

Congratulations Trip Ray! New Chief Credit Officer

Trip Ray has been promoted to the position of Chief Credit Officer. He has been with SouthStar Bank since 2016 and has served as the bank’s Chief Risk Officer since 2020. In his time with the bank, Trip has made tremendous contributions, including creating an Enterprise Risk Committee and actively working to build risk assessments across all departments of the bank, ensuring top quality and safety for our customers. Trip naturally gravitated toward the lending side of the institution in his role as Chief Risk Officer, making him an ideal fit for the Chief Credit Officer position. In his new role, Trip will be responsible for providing support, direction and developing credit information and loan policies to ensure the overall quality of the bank’s lending portfolio. He will oversee the Underwriting and Credit Administration Department and continue to work with the Audit Committee as well as internal and external loan review teams. When Trip is out of the office, he enjoys spending time with friends and family, playing golf, and spending time outdoors. Congratulations Trip!

Employee Spotlight

by SouthStar BankAugust 7, 2023

Employee Spotlight – Amanda Waldrop

Amanda Waldrop, Loan Operations Processor | SouthStar Bank Calvert Amanda Waldrop is a Loan Operations Processor at the SouthStar Bank Calvert location. She had previously worked at SouthStar Bank from 2016-2019 and was welcomed back in 2021. The two things she enjoys most about her job are her amazing coworkers and the ability to provide a helping hand to those who dream of home ownership. Amanda’s biggest professional accomplishment was starting a demolition/clean-up company with her husband. Their business had them chasing hurricanes from Rockport, Texas, to South Louisiana, providing services to those affected by the storms. They sold the business in 2021 and eventually moved back to Texas. When she is not working, Amanda spends her time traveling, camping, boating, cooking, enjoying a good cup of coffee, and spending time with friends, family, and her rescue dog, Gunner.

Employee News

by SouthStar BankAugust 4, 2023

Welcome Jason Herbert

Jason Herbert, Vice President of Lending & Branch Executive | SouthStar Bank Leander Jason Herbert joins the SouthStar Bank Leander branch as a Vice President of Lending and the Branch Executive. He is an alumnus of California State University San Marcos and brings over 20 years of experience in the banking industry with a focus on Residential Lending. In his position, Jason is looking forward to assisting clients with personal mortgage loans and expanding into the realms of commercial and construction lending. In his career, Jason is proud of his ability to help families become homeowners, particularly when they were told they could not do so. One of Jason’s crowning achievements across his career is the 600+ families and the 75+ active and retired military families he has assisted in their journeys to homeownership. He is a father of two and a member of the Leander Dad’s Group. He spends much of his time attending the various sports his children are involved in, including soccer, gymnastics, dance, and Ninja Warrior. When Jason can get some time to himself, he enjoys going to the golf course to unwind. NMLS#633039

IRA Accounts

by SouthStar BankAugust 2, 2023

What IRA is Best for Me?

When it comes to saving for retirement, Individual Retirement Accounts (IRAs) offer a range of options to suit various needs and preferences. However, the choices can be overwhelming for the everyday consumer. Whether you have been saving for years or are just beginning to plan your future, SouthStar Bank can help you get started. Roth IRA: A Roth IRA is a retirement account funded with after-tax contributions. One of the main advantages is the potential for tax-free growth and withdrawals during retirement. With a Roth IRA, contributions are made with money that has already been taxed, which means you won’t get an immediate tax deduction. However, the earnings within the account grow tax-free, and qualified withdrawals, made after age 59 ½ and held for at least five years, are also tax-free. Additionally, Roth IRAs do not have required minimum distributions (RMDs) during the account owner’s lifetime, giving the account owner more flexibility in retirement planning. Traditional IRA: A Traditional IRA is a tax-advantaged retirement account where contributions may be tax-deductible in the year they are made. The money you contribute to a Traditional IRA is not taxed until you withdraw it during retirement. While the contributions and earnings grow tax-deferred over time, withdrawals made after age 59 ½ are treated as ordinary income and taxed accordingly. Another key aspect of Traditional IRAs is that they come with required minimum distributions (RMDs) that must begin at age 72 (73 if you reach age 72 after Dec. 31, 2022), ensuring gradual distributions during retirement. Self-Directed IRA: A Self-Directed IRA is a unique retirement account that allows investors to go beyond traditional assets like stocks and bonds. With a Self-Directed IRA, you have the flexibility to invest in alternative assets, such as real estate, precious metals, private equity, and more. This option empowers investors to diversify their portfolio beyond conventional investments, potentially enhancing returns and reducing risk. However, it requires diligent research and understanding of the chosen alternative investments, as they may not be as liquid or easily valued as traditional assets. Checkbook IRA (Self-Directed IRA with Checkbook Control): A Checkbook IRA, also known as a Self-Directed IRA with Checkbook Control, is a specific type of Self-Directed IRA that provides even greater control and convenience in managing investments. With a Checkbook IRA, you establish an LLC (Limited Liability Company) owned by the IRA, and the IRA custodian allows you to serve as the manager of the LLC. As the manager, you gain the authority to make investment decisions and write checks from the IRA’s funds directly, eliminating the need for custodian involvement for each investment transaction. This streamlines the investment process and can be especially beneficial for those who prefer a hands-on approach to managing their retirement funds. SouthStar Bank is excited to offer a variety of IRA products, including IRA loans, to the Texas communities we have served for over 100 years. Our knowledgeable team can guide you through the process of selecting the right IRA for your retirement goals and provide […]

Employee Spotlight

by SouthStar BankJuly 31, 2023

Employee Spotlight – Allison Spence

Allison Spence, Personal Banker | SouthStar Bank Southwest Austin Allison Spence is a Personal Banker at the SouthStar Bank Southwest Austin location. She worked in the banking industry for five years before joining the SouthStar Bank team one year ago. The one thing Allison enjoys most about her job is connecting with customers in and around her community. She also loves using her problem-solving skills to assist her customers and their needs best. One of Allison’s most significant accomplishments was gaining confidence within her Personal Banker role. She believes that her newly acquired knowledge has positively affected her personal life. In her community, Allison is involved with her local church, One Chapel Austin. She hopes to be a part of their Mission work in the future. When she is not working, Allison spends her time caring for plants, playing with her pups, and tending to her chickens. One item on her bucket list is to travel to Milan, Italy to meet family.

Employee News

by SouthStar BankJuly 26, 2023

Welcome Emma Taylor

Emma Taylor, Personal Banker | SouthStar Bank Leander Emma Taylor has joined the SouthStar Bank Leander team as a Personal Banker. Emma has one year of experience in the banking industry. The one thing she is most excited about bringing into her new role is her customer service skills, positive attitude, and dedication. In her free time, Emma enjoys writing and spending time with her dog. Welcome Emma!

Employee Spotlight

by SouthStar BankJuly 24, 2023

Employee Spotlight- Aften Serrano

Aften Serrano, Portfolio Manager – SBA & Business Manager | SouthStar Bank Loan Administration Building Aften Serrano is a Portfolio Manager/ SBA & Business Manager based at the SouthStar Bank Loan Administration Building. Aften worked in banking and finance for 19 years before joining the SouthStar Bank team three years ago. She has worked in numerous positions, including Teller, Personal Banker, Banking Officer, Branch Manager, and Back Office. In her position, Aften enjoys being able to help small businesses survive and thrive, while also creating jobs in and around her community. One of Aften’s favorite professional moments was performing investigations on high-risk customers for the BSA/AML Department. In her community, Aften is a member of the Daughters of the Republic of Texas. Currently, the organization is working to save a cemetery on Liberty Hill from being destroyed by a large development company. When she is not working, Aften spends her time woodworking, building, and refurbishing furniture. Known for being adventurous, she has traveled to Costa Rica and hopes to walk the Great Wall of China.

Employee News

by SouthStar BankJuly 21, 2023

Welcome Ivan Garcia

Ivan Garcia, Vice President of Lending/Community Manager | SouthStar Bank Ivan Garcia joins SouthStar Bank as a Vice President of Lending and Community Manager. Ivan brings 14 years of experience in the lending industry and will be focused on expanding SouthStar Bank’s presence along the IH-35 corridor. Ivan prides himself on being able to provide opportunities for home ownership in historically underserved communities. Ivan covets the personal connection and relationship-building aspects of the lending process, striving to develop trust between lender and customer and navigating first-time home buyers through the sometimes complex mortgage process Ivan is also fluent in Spanish and is heavily involved with the Austin Hispanic Chamber of Commerce and the National Association of Hispanic Real Estate Professionals (NAHREP). One of his most significant professional achievements was when he was named one of the NAHREP Top 100 Regional Loan Officers in 2021. Outside of the office, Ivan enjoys spending time with his family, who began fostering children four years ago.

Employee News

by SouthStar BankJuly 20, 2023

Welcome Rubi Perkins

Rubi Perkins, Personal Banker | SouthStar Bank Hearne Rubi Perkins has joined the SouthStar Bank Hearne team as a Personal Banker. She is most excited to bring her stellar customer service skills to her new role. In her free time, Rubi enjoys painting and traveling. Her favorite place she has traveled to is Niagara Falls. Welcome Rubi!

Bank News, Employee News

by SouthStar BankJuly 19, 2023

Congratulations Stephanie Weaver! New Branch Manager

Stephanie Weaver has been promoted to Assistant Vice President and Branch Manager at the SouthStar Bank Georgetown branch. Prior to her promotion, Stephanie was a Personal Banker at the Georgetown location. During this time, she was responsible for opening new accounts, running transactions, and verifying customer information. In her new position, Stephanie will be responsible for growing new and existing relationships between the bank and its customers. She is most excited about speaking with her customers to learn how her team can better serve them. Another aspect that Stephanie is excited about is taking over the training of new employees in preparation for their next steps within the banking and finance industry. In her free time, Stephanie enjoys spending time with her family and fur babies, bowling, and traveling to San Antonio to visit her younger sibling.