Bank News Archives - Page 4 of 7 - SouthStar Bank, S.S.B.

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 […]

Bank News, Important Notice

by SouthStar BankNovember 23, 2020

Christmas at SouthStar Bank

Join us in giving back this holiday season. The holidays are upon us! In the spirit of the season, many of our locations are serving as donation drop-offs for local toy drives. New unwrapped donations will be accepted for all ages. We are not accepting stuffed animals at this time. Over the past 100 years SouthStar Bank has built a tradition of community service, supporting past generations and the generations to come. Now, we want to give back to the communities who have supported and driven our success over the years. See below to find the donation spot closest to you: Dec. 11: Georgetown | Toy Drive Dec. 14: Round Rock | Toy Drive Dec. 15: Bee Cave| Toy Drive Dec. 15: Leander | Blanket & Toy Drive

Bank News, Event

by SouthStar BankNovember 2, 2020

SouthStar Bank Celebrates 100 Years

A recap of the 100th Anniversary Celebration. SouthStar Bank celebrated its 100th Anniversary on Wednesday, October 21, 2020 after first opening its doors as The Farmers and Merchants Bank of Moulton in 1920 with the motto Safety, Strength and Service. True to its Texas Style motto, the Bank welcomed the community for complimentary BBQ accompanied by live entertainment. “Starting from humble beginnings as Farmers and Merchants Bank, we have grown not only in numbers, but also in talent, services and community. SouthStar Bank has remained true to its community banking roots, growing to over $1 Billion dollars in assets over the past 100 years. I would like to thank all of our loyal customers who have been with us for so many years. Your trust and support have always been the biggest drivers for our continued growth.” said Kapavik. The bank was honored to have the Schindler family and other shareholders with local ties join the celebration of this historic milestone for SouthStar Bank. 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. In conjunction with the 100th Anniversary, the SouthStar Bank Moulton Branch was restored to reflect the building’s original beauty and design. The official unveiling of the renovated building was a highlight of the day and included tours throughout the evening. Built in 1906, the historic “Boehm Mercantile Store” was purchased in 1990 for conversion into expanded Bank headquarters. The building was transformed back into an authentic interpretation of turn-of-the-century, Victorian architecture. Many desirable features were preserved within the building, including original longleaf pine floors, pine structural columns, ornate pressed metal ceiling, and the stately, half-moon window overlooking the rolling hills of the Moulton countryside. Like SouthStar Bank, the building shines with new life, ready to serve its community for another century to come.

Bank News, Event

by SouthStar BankOctober 20, 2020

SouthStar Bank 100-Year History

An overview of the last 100 years. SouthStar Bank opened its doors as The Farmers and Merchants Bank of Moulton in 1920 with the motto Safety, Strength and Service. Sixty-one years after opening, The Farmers and Merchants State Bank changed its name to Moulton State Bank in 1981. That same year, the Raymond G. Schindler family of Houston, TX purchased controlling interest in the Bank through holding company Southern Bancshares, Inc., which still holds majority interest today. The purchase supplemented the holding company’s acquisitions of First State Bank of Bremond in 1973 and Lott State Bank in 1975. The Bank’s name was once again changed nine years later to the First State Bank of Moulton in 1990. The name change represented the historical significance of the original banks of Moulton. The historic “Boehm Mercantile Store” was purchased soon after for conversion into expanded headquarters where the bank still operates today. Due to the bank’s friendly and flexible brand of community-style banking, the bank expanded into neighboring communities and counties, opening a new branch in Shiner, TX in June 1997, followed by one in Gonzales, TX in February 2005. Around the same time, a Loan Production Office was opened in Austin, representing the Bank’s entry into a growing urban market. In 2004 the Bank’s name was changed to Lone Star Bank, S.S.B. to better reflect the bank’s expanding regional presence in Texas. Another decade of growth ensued as the holding company expanded into more urban markets, including the construction of several flagship facilities in the Austin area under the Lone Star and First Star brands. 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. 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. David R. Kapavik, previous President of Lone Star Bank, was named President and CEO. Kapavik continues to lead the organization with the current executive team: Billy Fleming, EVP & National Sales Manager for Mortgage Warehousing; Brent Gibbs, EVP & Chief Lending Officer; Cole Schindler, EVP & Strategic Development Officer; Jo Ann Biezenski, EVP, Compliance Manager & Director; Kevin Knesek, EVP & Chief Operations Officer; Lori Singleton, EVP, Chief Loan Administration Officer & Special Projects Manager; and Robert Simper, EVP & Chief Financial Officer. Former First Star Bank President Norman Koch, now retired, serves as Business Development Advisor. Today, SouthStar Bank operates 15 full-service branches across the Central Texas region and specializes in residential mortgage, real estate and construction lending. Since opening in 1920, the Bank continues to focus on community values and personal relationships coupled with flexible, common-sense lending. “Starting from humble beginnings as Farmers and Merchants Bank, we have grown not only in numbers, but also in talent, services and communities. SouthStar Bank has remained true to its community banking roots, growing to over $1 billion dollars in assets over […]

Bank News, Important Notice

by SouthStar BankOctober 16, 2020

HomeAid Fundraising Drive

Your donation is appreciated in support of this great cause! Over the past 100 years SouthStar Bank has built a tradition of community service, supporting past generations and the generations to come. In honor of our 100th anniversary, SouthStar Bank continues this tradition by partnering with local non-profit, HomeAid Austin. HomeAid Austin is unique in that it is a 501(c)(3) non-profit whose sole purpose is to serve other non-profits. The charity organization identifies long-term, stable homeless care providers who need additional capacity and pairs them with builders, vendors and suppliers, who donate time, materials and labor to rehabilitate and build housing for Austin’s homeless. These care providers directly serve: Youth who have aged out of foster care Women in crisis pregnancy Victims of domestic violence and spousal desertion Children who have become homeless due to a family crisis Mentally challenged Adults living with HIV/AIDS Families and individuals who are homeless as a result of job loss or illness Individuals and families suffering from drug and alcohol abuse Veterans SouthStar Bank proudly supports HomeAid Austin’s mission to build new lives for Austin’s homeless families and individuals through housing and community outreach. Contributions to the SouthStar Bank team fundraising pages will be accepted through October 23. Click below to visit your local branch fundraising page: Bee Cave Georgetown Leander Round Rock Southwest Austin Steiner Ranch Every little bit helps! We greatly appreciate your consideration in joining us to support our local community.