Bank News Archives - Page 4 of 8 - SouthStar Bank, S.S.B.

by SouthStar BankNovember 16, 2021

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

Bank News

by SouthStar BankOctober 29, 2021

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.

Bank News

by SouthStar BankOctober 29, 2021

Congratulations Jeff Harris! 2021 Best Mortgage Lender Runner-Up

Congratulations Jeff Harris! Jeff was named runner-up in the Best Mortgage Lender category for the 2021 Kerr County Readers Choice Awards. He is a Vice President of Lending at the SouthStar Bank Kerrville location. A veteran of the United States Marine Corps, Jeff prides himself on his commitment to his customers, community, and country. All of his clients are treated with professionalism and compassion as they achieve their dreams of homeownership, whether they are first-time home buyers, someone moving to the community, or a second homeowner. NMLS# 1678994

Bank News, Event

by SouthStar BankOctober 8, 2021

SouthStar Bank Kerrville Ribbon Cutting

A recap of the Kerrville Ribbon Cutting SouthStar Bank celebrated its newest full-service branch, located at 1101 Junction Hwy, on September 24. Following the branch ribbon cutting conducted by the Kerrville Chamber of Commerce, guests enjoyed barbeque and live music by Max Flinn. SouthStar Bank specializes in residential mortgage, real estate and construction lending, now operating 16 full-service branches across Central Texas. The team includes Kent McKinney, Business Development Advisor, Jeff Harris, Vice President of Lending, Donny Lehmann, Vice President of Lending, Kyla Gesell, Assistant Vice President & Branch Manager, Shelby Mossman, Loan Assistant, Sherri Steadham, Loan Assistant, Meghan Jackson, Personal Banker, Sche Kehner, Personal Banker, Claudia Gonzales, Personal Banker, Brittany Selement, Personal Banker. Combined they offer an impressive 89 years of experience in the financial industry. All are deeply invested in the Kerrville community, serving as leaders in local organizations such as Rotary Club of Kerrville, Hill Country Crisis Council, and Together with Hill Country Veterans. “I cannot tell you how excited I am to be part of the SouthStar Family,” said Jeff Harris. “This is a wonderful change for not only the staff, all of which are still with us, but for our community! The involvement, of a true community bank, that I have witnessed thus far is amazing and is only going to continue to grow in our home town of Kerrville and surrounding areas. The banking family that we have now is just that…family. It’s nice to be part of an organization that is like family — one that shows they truly care for not only their employees but their customers as well.” SouthStar Bank was honored to have the Schindler family and other shareholders join the celebration. The Raymond G. Schindler family of Houston, TX purchased controlling interest in the Bank in 1981 through its holding company, Southern Bancshares, Inc. Operations under the current name, SouthStar Bank, S.S.B., began on January 1, 2015 following the merger of Lone Star, First Star and Texas Star banks with David R. Kapavik being named President and CEO after previously serving as President of Lone Star Bank. The name SouthStar Bank was ultimately selected for its strong reference to the bank’s deep southern heritage, warm hospitality, and recognition as a bright star in the communities it serves. “I appreciate the warm welcome from everyone in Kerrville. Community is a huge part of our organization, and I can tell from those I’ve met that there’s a strong spirit. Our focus is always to provide friendly, flexible financial services where we live and work, and I’m looking forward to bringing that Texas Style of banking to the Hill Country region,” said David Kapavik, President and CEO at SouthStar Bank.

Bank News, Important Notice, Press Release

by SouthStar BankAugust 27, 2021

SouthStar Bank Acquires Community First National Bank, Kerrville Branch

It’s Official: SouthStar Bank Joins the Kerrville Community MOULTON, TX, August 27, 2021 – SouthStar Bank has purchased the Kerrville branch of Community First National Bank with the full approval of the Texas Department of Savings and Mortgage Lending and the Office of the Comptroller of the Currency. The branch, located at 1101 Junction Highway in Kerrville, TX, will be open for business as a SouthStar Bank branch on Monday, August 30th. The community is invited to attend a ribbon cutting celebration on September 24th at 3:30 PM. BBQ will be served and there will be live music from 5:00 PM to 7:00 PM. The event is free, family-friendly, and open to all. SouthStar Bank has been a fixture in Texas banking since 1920. It’s headquartered in Moulton, TX and now has 16 locations throughout Central Texas (including the new Kerrville branch). According to SouthStar Bank President & CEO David Kapavik, the sale represented a strategic initiative for both organizations. “The Kerrville branch is a perfect fit. Community First National Bank built a strong reputation for local, friendly service. These values are in line with SouthStar Bank’s mission to provide friendly, flexible, common-sense financial solutions—Texas style! Their values are aligned with ours as a true community bank. We are excited to grow the Bank’s footprint into the Hill Country area.” SouthStar Bank retained the Community First National Bank Kerrville team at the branch, including Brittany Selement (Personal Banker), Claudia Gonzales (Personal Banker), Jeffery Harris (Vice President of Lending), Donny Lehmann (Vice President of Lending), Kent McKinney (Business Development Advisor), Kyla Gesell (AVP/Branch Manager), Meghan Jackson (Personal Banker), Sche Kehner (Personal Banker), Shelby Mossman (Loan Assistant), and Sherri Steadham (Loan Assistant). When speaking of the Kerrville team, Kapavik said: “The local team is strong, helping to make the transition as seamless as possible both internally and for the new clients we are bringing into the SouthStar Bank family.” Kent McKinney, Business Development Advisor and former Community First National Bank Senior VP feels the team will be in great hands. “During the transition, I have had the opportunity to meet many of the SouthStar Bank people, from owners, to managers, to staff members at several levels. Without exception they are some of the nicest, most pleasant, most dedicated individuals you could hope to meet. There will always be some changes resulting from this kind of transition, but what you won’t see is a decrease in friendly, efficient customer service.” McKinney notes that the staff has been looking forward to the change, and praises SouthStar Bank for the investments they’ve made in local nonprofit organizations. “SouthStar Bank looks forward to a long-term presence,” adds Kapavik. “Extending our 100-year history of helping local residents reach their financial goals.” For more information, visit https://southstarbank.com//. * * * ABOUT SOUTHSTAR BANK SouthStar Bank, S.S.B., specializes in residential mortgage, real estate, and construction lending, operating 16 full-service branches across the Central Texas region. Established in 1920, the bank continues to focus on community involvement and personal relationships. […]

Bank News

by SouthStar BankAugust 20, 2021

Congratulations Amber Minnick! New Portfolio Manager II

Congratulations to Amber Minnick on her promotion to Portfolio Manager II! Amber Minnick has been promoted to Portfolio Manager II for our Specialty CRE Team. She joined SouthStar Bank in 2020 and made an immediate impact on the team, closing over 180-unit loans and reorganizing the Homebuilder Finance department. Amber will continue to manage the builder lines of credit and oversee the procedures and processes for HBF. She will also manage the closings for lot development loans, review the quarterly loan covenants, and complete quarterly market analyses for the portfolio. Amber is the most excited to develop a deeper understanding of the acquisition and development process of Homebuilder markets in her new role. Amber enjoys spending her free time with her boyfriend and their families. Some of their favorite activities include boating on Lake Travis, taking road trips, and visiting local Hill Country wineries, breweries, and distilleries. NMLS # 2026848

Bank News

by SouthStar BankAugust 12, 2021

Congratulations Alexis Michael! 2021 Emerging Leader Honoree

AUSTIN August 11, 2021 – Alexis Michael of SouthStar Bank has been selected as an Emerging Leader in the banking industry by the Texas Bankers Foundation and will be honored at the Texas Bankers Association’s 136th Annual Convention in Austin during a special awards luncheon on August 26. “Alexis is not a self-proclaimed great leader. Instead, she leads by example and doesn’t ask her team to do anything that she isn’t willing to do including catching a few hours of sleep on a cot during the PPP application process and waking up and working a full day again,” said David Kapavik, SouthStar Bank CEO & President. Launched in 2019 by the Texas Bankers Foundation in collaboration with the Bank Leadership Council, the Emerging Leader Award honors bankers who have had a positive impact on the banking industry and who represent the best values of Texas community banking. Alexis worked her way up in the banking industry with a passion for helping people starting as a Teller in 1999. She was initially hired as a Branch Executive and SBA Director and took a branch that was struggling to meet it’s aggressive financial and efficiency goals to a branch that met each goal in a short time frame. Later she was promoted to her current role of Regional Credit Manager mentoring and leading a Loan Officer production team at four branches. To be honored, bankers must have five years of experience in banking, be an employee of a TBA member banking institution and be nominated by the bank president, CEO or board chairman. “We are both excited and very proud to recognize the 2021 Emerging Leader Award recipients and our third class of honorees,” said Chris Furlow, president & CEO of the Texas Bankers Association. “This diverse group of outstanding bankers will help lead the Texas banking industry into the future and we’re thrilled to celebrate the work they’re doing throughout the state of Texas.” For 32 years, the Texas Bankers Association and Foundation have honored those who have served in the banking industry for 50 years or more. The Foundation has since expanded its awards portfolio to recognize banks and TBA members who give back to the community, promote financial literacy and showcase excellence in their fields.

Bank News, Important Notice, Press Release

by SouthStar BankJune 23, 2021

SouthStar Bank Enters Purchase Agreement to Acquire Kerrville Branch of Community First National Bank

The planned acquisition by SouthStar Bank will expand its Central Texas footprint; the proposed sale meets strategic initiatives for both community-focused institutions. June 23, 2021─Moulton, TX─ SouthStar Bank announced an agreement to purchase the Community First National Bank Branch in Kerrville, TX. The sale is contingent on regulatory approval by the Texas Department of Savings and Mortgage Lending (TDSML), the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC). Pending final approval, the sale is scheduled to close August 27, 2021. Terms of the deal between the privately-held organizations were not disclosed. SouthStar Bank plans to continue operations at the Kerrville branch and retain current staff to streamline the transition and maintain continuity for customers and team members. “The Board and Management are eager to welcome Community First employees into our SouthStar Bank family. We’ve seen an enthusiastic presence in the local community, making the branch a seamless fit with our organization. We strive to accomplish a uniquely Texas-Style of banking throughout all locations with friendly, flexible, common-sense financial solutions. said David Kapavik, President and CEO, SouthStar Bank. “The acquisition will allow us to expand into the Hill Country, reach new opportunities, and remain the personal, community-focused bank we’ve always been.” SouthStar Bank is a family-owned community bank focused on providing the highest level of service to its customers. Established in 1920, SouthStar Bank recently celebrated its 100th anniversary. Today, the bank operates 15 branches utilizing both the latest in financial products and technology, and the same small-town service on which SouthStar Bank was founded. Kent McKinney, Sr. Vice President of Community First National Bank stated “The staff and employees of the Kerrville Branch of Community First National Bank are excited to become a part of the dynamic and progressive SouthStar Bank organization. They have a strong history of community involvement and growth and will be a valuable addition to the Kerrville community.” A celebration is tentatively planned for late September, which will include BBQ and live music. The event will be free and open to the public. * * * SouthStar Bank, S.S.B. operates 15 full-service branches across the Central Texas region with headquarters in Moulton, TX. The Bank specializes in residential mortgage, real estate, and construction lending. Decisions are made locally, allowing the flexibility to apply common-sense standards to products, services, and loan requests. Since opening in 1920, the Bank continues to focus on community involvement and personal relationships and now holds over $1 billion in assets. Southern Bancshares (Houston, TX), holds majority ownership of SouthStar Bank. All loans subject to approval. Other fees and restrictions may apply. Equal Housing Lender and Member FDIC, NMLS # 410624. ─ end ─

Bank News, Employee News

by SouthStar BankMarch 29, 2021

Congratulations Kimberly Watson! New Branch Executive

Congratulations to Kimberly Watson on her promotion to Branch Executive! Kimberly Watson was promoted to Branch Executive at our Southwest Austin Branch. She joined SouthStar Bank in 2013 with over 20 years of experience in the industry. Throughout her time with SouthStar Bank, Kimberly has played an instrumental role in expanding SouthStar Bank’s mortgage department. Kimberly specializes in portfolio loans, real estate, and construction financing. She also handles refinance and traditional mortgage lending. Kimberly prides herself on her ability to build long-term relationships with her customers. “I love helping borrowers buy their 1st home and then later helping them build their dream home,” she says. She is able to provide comfort with her expertise and personable skills ,which allows her to guide customers through every step of the loan process. Outside of work, Kimberly enjoys spending time with her husband, Van, and their daughter Raece. NMLS # 794827

Bank News, Important Notice

by SouthStar BankDecember 28, 2020

Tax Tips & Planning

Tax-saving tips brought to you by Briggs & Veselka Co. HEALTH & RETIREMENT CONTRIBUTIONS: Health Savings Account (HSA) Contributions Individuals who are covered by a qualifying high deductible health plan may make deductible contributions to an HSA, subject to certain limits. For calendar year 2020, assuming a full year of coverage, the maximum contribution is $3,550 for self-only coverage and $7,100 for family coverage ($3,600 and $7,200 for 2021), plus an additional $1,000 for those age 55 or older. Distributions from an HSA to pay qualified medical expenses are not taxable. Distributions used for nonmedical purposes are taxable, and if made before age 65, are subject to a 10% penalty tax. IRA Contributions for 2020 IRA contributions may be made on or before the original due date of the return. If otherwise eligible, those contributions may still be deducted on the 2020 return. ROTH IRA contributions have the same due date. No deduction is allowed but the growth can eventually be withdrawn tax-free as long as requirements are met. CARES ACT Created a $300 partial above-the-line charitable contribution for individuals taking the standard deduction and expands the limit on charitable contributions for itemizers Waived the 10% early-withdrawal penalty on retirement account distributions for individuals facing virus-related challenges. Allows businesses or individuals with business losses resulting in Net Operating Losses a five-year carryback of net operating losses (NOLs) earned in 2018, 2019, or 2020. The NOL limit of 80% percent of taxable income is also suspended, so businesses may use NOLs they have to fully offset their taxable income in carryover years. TAX CREDITS: Recovery Rebate Credit 2020 For 2020, eligible individuals are allowed a refundable income tax credit of $1,200 ($2,400 for joint filers) plus $500 for each qualifying child under age 17. The credit is reduced by 5% of the amount by which the taxpayer’s 2020 adjusted gross income exceeds $75,000 ($150,000 for joint filers; $112,500 for heads of household), but not below zero. The IRS automatically made advance payments (Economic Impact Payments or EIPs) of the recovery rebate credit to most eligible individuals during 2020. This includes individuals who filed a tax return in 2018 or 2019 and individuals receiving government benefits such as Social Security Income, Social Security Disability Income, Veterans Compensation and Pension and Railroad Retirement. Eligible individuals who were not in one of the automatic payment categories or did not receive as much as they may be eligible for should compute this credit on their 2020 return. Taxpayers should have received Notice 1444, Your Economic Impact Payment, within a few weeks after the IRS makes the EIP. Taxpayers should keep the notice for use in filing 2020 tax returns as the amount received will reduce the amount of credit computed for 2020. BUSINESS ITEMS: Depreciation First-year depreciation deduction. Most used as well as new machinery and equipment bought and placed in service in 2020 qualifies for a 100% bonus first-year depreciation deduction. Qualified business income deduction A deduction of up to 20% of their qualified […]