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Bank News

Congratulations Jesica Garza! New Branch Executive

Congratulations to Jesica Garza on her promotion to Branch Executive! Jesica Garza has been promoted to Branch Executive of the SouthStar Bank Georgetown Branch. Jesica has been with SouthStar Bank for three years as a portfolio lender, specializing in land and construction financing. She has multiple years of prior experience in mortgage lending and has also taught mortgage and real estate investing courses to continuing education students as a Certified Mortgage Planning Specialist. A local to Georgetown, Jesica proudly graduated as a Georgetown Eagle in 2004 and continued on to Texas State University to pursue her degree in International Relations. As Branch Executive, Jesica is looking forward to broadening and sustaining the branch’s relationships with the community. Active in the community, Garza previously served on the Austin Board of the National Association of Professional Mortgage Women. In addition, she stays involved with her husband’s non-profit, Flatwater Foundation, and its mission to provide access to therapy for families coping with a cancer diagnosis. Jesica and her husband, Mark, have two kids: one son and one daughter. Member FDIC | Equal Housing Lender | NMLS# 1508061

Congratulations Riley Martine! New Assistant Vice President

Riley Martine has been promoted to the role of Assistant Vice President at the SouthStar Bank Southwest Austin branch. She will continue in her role as Portfolio Manager and will also be taking on the official role of Executive Assistant to the Chief Lending Officer. Her initiative, positive attitude, and ability to multitask have given Riley a great reputation amongst her coworkers and clients. Riley is looking forward to continuing to assist in the management and growth of the bank’s portfolio. “I love learning and SouthStar never ceases to give me the opportunity to do so,” she says. In her free time, Riley enjoys running, reading, and going to concerts. Her biggest personal achievement was when she completed the Austin Half Marathon in April 2021. Congratulations Riley!

Congratulations Miguel De La Riva! New Branch Executive

Congratulations to Miguel De La Riva on his promotion to Branch Executive of the Harker Heights branch! Miguel De La Riva was promoted to Branch Executive at the Harker Heights Branch. He joined SouthStar Bank at the beginning of 2022 with over 20 years of industry experience. In his long career, Miguel has funded everything from small business loans, home loans for first-time buyers, and multi-million-dollar commercial real estate transactions. In his new role, Miguel is excited to continue working with the team in Harker Heights, or as he calls them, the Harker Heights Heroes. He also enjoys serving his community and is looking forward to continuing to get to know the citizens of Harker Heights and the communities surrounding Ft. Hood. He specializes in using his strong analytical and problem-solving skills to find solutions for complex loans. “ I always look forward to helping more people accomplish their goals and realize their dreams,” he says. “Helping the clients who were told ‘it cannot be done by everyone else is one of the best parts of my job.” Miguel is a veteran of the United States Marine Corps and bilingual in Spanish. Outside of work, Miguel enjoys spending his time in the great outdoors, enjoying various bodies of water with his wife and loyal dogs. Member FDIC | Equal Housing Lender | NMLS# 980470

IRA Non-Recourse Loans – Get Started with Us Today

IRA Non-Recourse Loans | SouthStar Bank Consider the following scenario: You want to buy real estate using your self-directed IRA. The non-recourse loan is applied for by your IRA or retirement plan and the debt is secured by real estate.   Some of your IRA money and the non-recourse loan are used to purchase the property, leaving the rest of your IRA funds invested and earning interest. For example, let’s say you find an investment property for $200,000 and have $200,000 in your IRA. You don’t use all the money in your IRA, but maybe $100,000, then you can get a non-recourse loan in the name of the self-directed IRA to make up the difference. Your IRA now has $100,000 in it, which is earning interest and growing. These loans are often utilized to provide you with additional funds in the event that your property requires repairs or upgrades, or to invest in commercial real estate. Taking out a non-recourse loan allows you to diversify your investing portfolio rather than putting all of your eggs in one basket. It’s a huge win for you and your retirement account. By leveraging the bank’s money, non-recourse lending enhances your IRA. Furthermore, the IRA’s money is safeguarded and can be used for other investments. How Do Non-Recourse Loans Work? When you have a small IRA or just don’t have enough funds to invest in real estate, your IRA can get a non-recourse mortgage loan. The non-recourse loan is a loan in the name of the IRA, secured by collateral (usually the property being purchased). The loan is based on the value of the real estate investment and in most situations, the IRA holder’s credit does not play a role in the IRA’s eligibility. Borrow What You Need There is no minimum or maximum loan amount at SouthStar Bank. The loan is in your IRA’s name and the amount you can borrow is determined by the value of your real estate investment. SouthStar Bank offers non-recourse IRA loans for single-family houses and condominiums (2-4 units). Keep in mind that the property’s net operational income/cash flow must be sufficient to cover loan payments. A percentage of the purchase price must be vested in a self-directed IRA for eligible borrowers. Your non-recourse IRA loan down payment will be determined by the property you buy, its condition and estimated cash flow. A 40 percent down payment is usually required by SouthStar Bank. Non-Recourse Loan Benefits A non-recourse loan, as mentioned above, is a form of loan that you can take out using your IRA to buy real estate investments. Your IRA owns these loans, which are subject to UDFI (unrelated debt-financed income) and must be returned through your IRA. Non-recourse loans have other advantages than helping you finance your real estate venture. Your IRA, not you, is responsible for your loan When you open a non-recourse loan, your IRA owns it, not you, which means that you will not be held personally liable should anything happen over […]

Congratulations Curtis Wren! New Executive Vice President

Congratulations to Curtis Wren on his promotion to Executive Vice President! Curtis has spent the last four decades in banking and finance. He has been with SouthStar Bank for the last eight years, where he has made a significant impact on the Bank’s loan approval process as a Senior Vice President and Chief Credit Officer. In his role, Curtis is responsible for the Credit Administration Group and the administration and maintenance of the Bank’s Lending, Appraisal & Evaluation, and Environmental policies, and the adherence to them in analyzing, underwriting, and approving loans. Prior to his promotion, Curtis was awarded the 2021 President’s Award, which is given to the individual who has made the organization’s strongest contribution over the past year. As Executive Vice President and Chief Credit Officer, Curtis will continue to share his extensive knowledge and experience with the loan officers and credit analysts. “I don’t look at lending just from the viewpoint of the collateral and cash flow,” he says, “I look at lending in the context of the request and as making a smart investment in the people behind the request, and I will continue to share that philosophy.”  A proud member of the Georgetown community, Curtis is involved with several local organizations including Main Street Baptist Church, Ducks Unlimited, and the Coastal Conservation Association. He has also held leadership positions with the Georgetown Rotary Club where he was the Director and the Sargent-at-Arms. In his free time, Curtis enjoys barbecuing, traveling, and spending time with his family and friends, particularly his four grandchildren. Two of  his most significant personal accomplishments are his marriage to wife, Charis, for 38 ½ years and the wonderful family they have raised. A surprising pastime is that he enjoys making renovations to his 1890s home and yard. Member FDIC | Equal Housing Lender | NMLS# 680305

Congratulations Amanda Aaron! 2022 Emerging SBA Lender of the Year

Amanda Aaron has been named a 2022 Emerging SBA Lender of the Year by Coleman Publishing, which is a Nationally recognized publication of SBA information to small business bankers. Amanda joined SouthStar Bank in July 2019, bringing in over 15 years of financial experience to the team. Beginning her career in credit and quickly working her way up to a seasoned loan officer, Amanda expertly guides her clients through the entire lending process and makes them feel comfortable in what can seem a daunting endeavor. Amanda is levelheaded, compassionate, and practical when it comes to SBA lending. She takes the time to learn the client’s business and identify the best loan option for their financial needs. Keeping the borrower’s utmost success in mind, she quickly becomes a trusted advisor and partner. With small-town roots, Amanda is passionate about small business and its crucial effect on main street America. This passion drives her ongoing pursuit to be the subject matter expert for all things SBA, even in an ever-changing environment. This was especially crucial during the frenzy of PPP lending where Amanda remained up to date on the latest guidelines. As a valued member of the SouthStar Bank SBA Team, Amanda actively shares her knowledge with new and seasoned loan officers.  Amanda is a member of Commercial Real Estate Women (CREW) and the Central Texas Association of Government Guaranteed Lenders (CTAGGL). Coleman Publishing is the leading provider of information to small business bankers. They produce and distribute training courses, webinars, and newsletters to help assist small business bankers in their lending decisions. Every year Coleman Publishing hosts the SBA Lender Professional Awards to honor SBA lenders and their exceptional contributions to the SBA lending community. Congratulations Amanda! Member FDIC | Equal Housing Lender | NMLS# 1819235

Congratulations Jeff Harris! New Branch Executive

Congratulations to Jeff Harris on his promotion to Branch Executive! Jeff Harris has been promoted to Branch Executive at our Kerrville Branch. In banking since 2017, Jeff specializes in mortgage and consumer lending. A proud US Marine Corps. Veteran, Jeff has a passion for helping his fellow Veterans and families obtain the ultimate goal of homeownership. The values instilled in the USMC have influenced Jeff’s passions, which include active involvement in his community and building strong, trust-based relationships. “I am committed to helping clients achieve their dreams of owning a home; whether they are a first-time homebuyer or a high-net-worth investor, they will experience the same level of professionalism and compassion.,” he says. While Jeff will be taking on a new role, he plans to remain active in his community. Currently, Jeff serves as President for The Rotary Club of Kerrville and sits on the board of The City of Kerrville Planning & Zoning Commission.  He is also the Vice President of the Hill Country Crisis Council, a Director for Together with Hill Country Veterans, and is currently enrolled in Leadership Kerr County Class 36. When he is not working, Jeff loves spending time with his wife Kristy, who is also a Veteran, attending Church, going salt-water fishing, attending symphony concerts, sporting events, and playing golf. Member FDIC | Equal Housing Lender | NMLS# 1678994

Congratulations Amber Gallagher! New CRE Draw Manager

Congratulations to Amber Gallagher on her promotion to CRE Draw Manager! Amber Gallagher was promoted to CRE Draw Manager of the SouthStar Bank Commercial Real Estate Department. In the industry for over 15 years, Amber started as a Personal Banker. Since her transition to lending, she has been instrumental in the closing and servicing of some of the most complex and high-dollar transactions in SouthStar Banks’s portfolio. Amber enjoys working closely with clients on their loan needs and assisting loan officers in carrying out smooth transactions. Her expertise and attention to detail are just two of the many reasons she has been chosen to take over as CRE Draw Manager. She will continue in her role as Vice President and Commercial Loan Closing Coordinator handling a broad range of business, from agriculture and commercial loans to mortgage financing. Amber and her husband enjoy spending time with their kids and watching them grow in their college education pursuit and new adventures. During her time away from the office, Amber and her family enjoy spending time outside on different lakes boating and surfing. Member FDIC | Equal Housing Lender | NMLS# 1691626

Congratulations Larry Weisinger! New Branch Executive

Congratulations to Larry Weisinger on his promotion to Branch Executive! Larry D. Weisinger was promoted to Branch Executive of the SouthStar Bank Bee Cave Branch. With nearly two decades in the commercial and residential banking sector, Weisinger provides vast expertise to the local community. A graduate of The University of Texas at Arlington and the University of North Texas, he quickly excelled with a passion for consulting clients in reaching their financial goals. Weisinger has developed a proven strategy for success, built on traditional customer service and a unique understanding of the mortgage loan process and local market. He has shown strong leadership and performance in his role as Senior Vice President of Lending and will be an asset in guiding the team at the Bee Cave location. Weisinger will continue to specialize in mortgage loans, including traditional home loans, bank-held portfolio loans, and construction financing. A native Texan, Larry enjoys spending time in the great outdoors hunting and fishing. A 20-year resident of Lake Travis, Larry has been married to his wife Tracie for 29 years. They raised two children in the LT school district, both excelled academically and athletically. Member FDIC | Equal Housing Lender | NMLS# 299096

Congratulations Claudia Gonzales! 2021 Best Teller

Congratulations Claudia Gonzales! Claudia was named the winner of the Best Teller category in the 2021 Kerr County Readers Choice awards. She is located at the SouthStar Bank Kerrville branch and has been with the bank for the last four years. Since starting her career in banking, Claudia has strived to always provide her customers with top notch service. Hoping to move up in the banking industry, Claudia enjoys learning about all aspects of banking including lending and new accounts. In her new role as a Personal Banker, she is excited to be able to assist her customers further with their banking needs.    

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