Jesse Miller, SVP & Director of IT | SouthStar Bank
Jesse Miller has rejoined SouthStar Bank as a Senior Vice President and Director of Information Technologies. Jesse received his BBA from Texas A&M University-Central Texas and holds several certifications, including CCNA, CEH, and ITIL.
Jesse previously spent close to a decade with SouthStar Bank in the IT department and looks forward to making even more meaningful contributions in his new position. As Director of IT, Jesse will oversee the IT department and collaborate with the entire bank staff to solve technology problems and create workflow efficiencies.
Outside of work, Jesse spends much of his time on the soccer field, where he serves as a Director and Coach for Lonestar-SC. Jesse enjoys sharing his love for soccer with his wife and four children. He also enjoys traveling with his family, his favorite destination being Wales. One of Jesse’s hidden talents is that he has a green thumb and is excellent with plants!
SouthStar Bank is thrilled to welcome Jesse back to the team!
The Ride for the Brand award recognizes those individuals who have gone above and beyond to uphold the SouthStar Bank brand. In the cowboy days, when you worked for a big ranch or participated in a trail drive, the cowboy was loyal to the Brand he “rode for.” Guys that rode for the brand had deep connections representing the ranch that transcended their daily work. To strengthen our culture, we continue to need employees that are a good example of this type of steadfast loyalty and who support our mission, vision, and values.
Loan Officer- Lora Scasta
Operations- Deanna Ford
Support Operations- Melissa Thompson
Support Lending- Kay Lynn Rothbauer
Mortgage Support- Patty Barron
Internal Operations- Jennifer Bellavia
STAR LEADER
The Star Leader award is a special award given to applaud and promote the work and contributions of our most senior team. These individuals articulate a compelling vision for the institution and have inspired others to that vision. They actively support all aspects of our Bank’s advancement and show the highest commitment to professional growth. Recipients deserve exceptional notice and praise.
Samantha Alexander
Ryan Noyce
Miguel De La Riva
Bryan Buck
Billy Flemming
TRAIL BOSS
We also wanted to recognize a few individuals who have stepped up in their leadership roles. On a cattle drive, Trail Boss is the one in charge of the entire operation – keeping track of all the different elements of the drive, selecting routes, and making key decisions. Our Trail Boss awards go to those who have helped guide our teams, selected routes for new and expanded operations, and supported key initiatives to exceed expectations. We can all agree that this year brought many new challenges, and the executive team appreciates those who helped set the path for success.
Mark Kelly
Jesica Garza
Keely McCarthy
PRESIDENT’S AWARD
This prestigious recognition is awarded by the bank president, David Kapavik, to the individual he and the executive team feel has made the strongest contribution to the organization over the past year. They review many aspects including performance, leadership, service, and related organizational benefits.
Ivan Garcia
Cole Schindler
Steffani Scarborough
Greg Holub
RISING STAR AWARD
These individuals have been with the bank for less than two years, but have already made our star shine brighter. These emerging leaders were selected by the executive committee in each department because of their exceptional growth and contributions to the organization, as well as increased levels of leadership, responsibility, and sphere of impact.
Loan Officer- Tracy Talkington
Operations- Dayton Mejias
Support Operations- Jeremy Pauza
Support Lending- Lauren Lopez
INVESTAR SUPERSTAR
This award recognizes one individual who has embraced our partnership with Hilltop Securities. We look forward to the continued growth of this relationship and the benefits it provides for our clients.
Brandy Rumfolo
MERCHANT SERVICES SUPERSTAR
This award recognizes one individual who has embraced our partnership with Merchant Services. We look forward to the continued growth of this relationship.
Tyler Narro
COMMUNITY INVOLVEMENT
SouthStar Bank takes great pride in supporting our communities. The Community Involvement Award recognizes one recipient in each of our four regions for exemplifying the community bank spirit through active involvement in worthy causes and initiatives throughout the area.
Urban North – Tracy Talkington
Urban South – Bianca Howle
Rural North – Lora Scasta
Rural South – Julie Gamez
STAR SERVICE AWARD
The Star Service Award recognizes one recipient in each of our four regions for service above and beyond the expected norm. Recipients consistently demonstrate exceptional knowledge of our products and services, as well as an intuitive understanding of our clients’ needs. Recipients consistently exemplify the SouthStar mantra of providing friendly, flexible common-sense financial services
Urban North – Kathryn Davis
Rural North – Debra Morris
Rural South – Lucia Fernandez
ANNIVERSARIES
35 YEARS: Sharon Green, Betty Singleton
25 YEARS: Julie Gamez, Patsy Novosad
20 YEARS: Lora Scasta, Roni Nickelson, Gary Mobbs
15 YEARS: Donna Corley, Andrew Denny, Karen Mode, Kandy Lopez
10 YEARS: Lori Bednorz, Davonica Rembert, Mary Hall, Katherine Frederick
5 YEARS: Kristin Ross, Jesica Garza, Kristy Hollis, Linda Van Doren, Amanda Aaron, Patty Barron, Bridget Brosh, Kyla Gesell, Amanda Waldrop
RIDE FOR THE BRAND NOMINEES: Anthony Albino, Bobby Simper, Brittany Smith, Christine McGinnis, Deanna Ford, Dylan Wald, Felicia Hamilton, Jennifer Bellavia, Jorden Caudle, Kay Lynn Rothbauer, Lora Scasta, Mary Kujawa, Matthew Curren, Meghan Rabel, Melissa Thompson, Patty Barron, Sam Bell, Shelby Mossman
STAR SERVICE NOMINEES: Aften Serrano, Amanda Waldrop, Amber Gallagher, Annabelle Thompson, Andrew Denny, Anthony Albino, Betty Singleton, Bianca Howle, Blake McNicoll, Brandy Rumfolo, Brianna Tirado, Bridget Brosh, Cecilia Ramos, Christine McGinnis, Daniel Desselle, Davonica Rembert, Dawn Embry, Dayton Mejias, Deanna Ford, Deangela Dozier, Debra Morris, Diane Romo, Greg Holub, Ibrahim Madni, Jenny Currie, Jeremy Bernal, Jesica Garza, Julie Gamez, Kacy Kirk, Kali Gaskill, Kathryn Davis, Kay Lynn Rothbauer, Keely McCarthy, Kerri Gonzalez, Kristy Hollis, Kyla Gesell, Laura Blackstock, Laura Desselle, Lucia Fernandez, Mariela Ramirez, Meghan Rabel, Melissa Greger, Melissa Swift, Michelle Felde, Miguel De La Riva, Pam Browning, Patty Barron, Riley Martine, Roni Nickelson, Rosalinda Larson, Rubi Perkins, Sam Bell, Samalia Huggins, Samantha Schulz, Sara Huggins, Sarah Ortega, Sche Kehner, Shelby Mossman, Steffani Scarborough, Tamara Siegel, Terry Thompson, Tina Zan, Tyler Narro
COMMUNITY INVOLVEMENT NOMINEES: Amanda Aaron, Anthony Albino, Bianca Howle, Bill Staley, Bridget Brosh, Daniel Desselle, Davonica Rembert, Deanna Ford, Debra Morris, Diane Romo, Gary Mobbs, Ivan Garcia, Jason Herbert, Jeff Harris, Jesica Garza, Jordan Collier, Julie Gamez, Kacy Kirk, Kimberly Watson, Kristy Hollis, Kyla Gesell, Laura Blackstock, Laura Desselle, Linda Martinez, Lora Scasta, Mariela Ramirez, Mary Hall, Melissa Gregor, Melissa Thompson, Miguel De La Riva, Monica Leal, Pam Browning, Sam Bell, Samalia Huggins, Sara Huggins, Sche Kehner, Shirley Sears, Tamara Siegel, Tina Zan, Tracy Talkington, Tyler Narro
Congratulations to all award recipients and nominees!
Bond Bourquein, Personal Banker | SouthStar Bank Georgetown
Bond Bourquein joins SouthStar Bank Georgetown as a Personal Banker. Bond attended Oklahoma City University, and this will be her first time working in the banking industry. She is excited to bring her enthusiasm and joyful attitude to her role and the Georgetown community.
Outside of work, Bond enjoys spending time with her dog and boyfriend, cooking and baking, and staying active. She is a long-time dancer and has even made it to the final stages of the Houston Texans Cheerleader audition process. In her free time, Bond teaches a group fitness class and frequents a local CrossFit gym to stay in shape. Like many, Bond enjoys traveling with her favorite destinations being anywhere with a beach.
Did you realize that a Self-Directed IRA can essentially serve as a lending institution? Promissory notes are a convenient way to loan money from retirement accounts to approved people and businesses while also earning interest on the loans. Many of our Self-Directed IRA holders choose to capitalize in alternative investments by becoming private lenders.
How the process of lending money works
It’s crucial to realize that IRS regulations apply because you’re making a loan through your Self-Directed IRA. You can’t lend to particular groups of persons or organizations. That list is quite short. You, your spouse, your parents, grandparents, children, grandkids, and their spouses, as well as any entity in which they own a majority stake are all considered to be disqualified people. There are still many persons and organizations that need loans.
A secured or unsecured promissory note may be issued by your IRA. You can also create a mortgage or trust deed in conjunction with a secured real estate note. The borrower will sign the promissory note and any other relevant loan documents after you draft it.
Always keep in mind that your IRA—not you, the IRA holder—is the lender. This implies that all income is reinvested in the IRA. All IRA loan documentation must be signed in the IRA’s name, not your own.
Here are some of the options for lending money with your Self-Directed IRA:
Equipment financing
Non-performing notes
Automobile loans
Bridging loans to companies that seek debt finance
Debt-financed loans
Microloans for small businesses
Residential and commercial mortgages
Equity participation loans
Personal loans
Advantages of using a Self-Directed IRA to lend money
1. You decide the rules.
As the account holder, you have the option to predetermine the terms of the loan, which is one of the key benefits of lending. You choose who or what firm you lend money to, as well as the loan amount. Additionally, you have control over the loan’s term, interest rate, and quantity and frequency of payments. You can decide whether the loan is secured or unsecured. Real estate is frequently used as collateral to secure loans, but secured notes also allow for the use of other assets.
2. Possibility of outstanding returns and maximal future earnings.
You can gradually grow your retirement funds by making loans. By defining the conditions for principal and interest, you are generating a pre-determined return on your investment. Many people find that this results in a reliable stream of revenue returning to their self-directed IRA. Additionally, if the loan is backed by property or other assets, you are effectively investing in both the borrower and the security because you will have access to the asset in the event that the borrower fails on the loan.
3. Assist those who might not otherwise be eligible for loans.
Lending money through your Self-Directed IRA could be a way to assist a person or company that has previously had trouble securing a loan. There are many creditworthy individuals or organizations out there that may be unable to obtain funding from a bank for a number of different reasons. However, it is crucial that you conduct your own research on any potential borrowers.
4. Make sure you take all necessary precautions.
Many people who have an interest in making loans find the process of discovering prospective borrowers enjoyable, including conducting their own research on potential borrowers. Here are some things to think about and important inquiries to make:
Who is the organization or group seeking a loan?
How secure is it? If it’s a company, does it have a track record?
Is it possible to see any financial documents before making a loan?
What occurs if there is a default?
Account holders will use promissory notes and mortgages to secure loans pertaining to real estate. If a default does occur, you would be able to perform a self-directed IRA foreclosure and take possession of the property.
These are but a few possible inquiries. Always use caution!
5. Tax benefits.
Self-Directed IRA lending also allows you to make loans while maintaining all tax advantages related to IRA funds. Until you begin receiving distributions from your Self-Directed IRA, if it is a regular IRA or a ROTH IRA, any earnings from this form of investment are tax-deferred. You don’t have to start taking withdrawals from your traditional retirement plan until you are 72. There are no distribution requirements if you hold a Self-Directed Roth IRA.
Ready to open an account? Talk to us. We’re excited to help you secure the lot of your dreams.
Land loans are used to purchase land without a house on it.
In Part II of our series, we’ll further expand on the fundamentals of land loans:
Pros and cons of land loans
You made your land purchase — now what?
Pros and Cons of Land Loans
Pros of Land Loans
You can build your dream home from the ground up. Purchasing land gives you the opportunity to start from zero and build a brand-new home that is precisely as you want it.
Develop at your own pace. If you pick a raw land loan, you can postpone building on the property until you are ready to move forward. Our loan terms for lot loans are 3 to 12 years, giving you plenty of time to obtain house plans and to finalize the plans and budget with the builder.
At that point, you can secure a construction loan.
Options with a single closure simplify construction. Construction loans have the benefit of financing your land purchase and the cost of new construction, transforming into a conventional mortgage when you’re ready to move in. This is useful if you’re ready to start building. Since you’ll just close once, the procedure will be simpler.
Cons of Land Loans
It might be harder to market raw land. Purchasing land can carry greater risk than purchasing a home, particularly if the economy isn’t doing well.
Land does not increase in value in the same manner as renovated property. Raw property is harder to sell than upgraded property when economies go “soft.”
Land may not be buildable. If you intend to construct a home in the future, especially if you’re purchasing unimproved land, you must confirm that the property can support a home. Do your due diligence! You’ll want to confirm road access, utility hookups, zoning requirements, and more.
You’ll face tougher qualifying criteria. A land loan can be more difficult to obtain than a conventional mortgage. Historically, borrowers looking to qualify for a land loan have needed to provide evidence of improved credit and make a larger down payment.
You made your land purchase — now what?
After purchasing the land, you can now begin making plans for what you want to construct there. Whether you’re building a house for yourself or a business, there are many different ways to fund the project.
SouthStar Bank offers several of the most popular methods for financing a construction project, including:
→ Construction-to-permanent loan. As soon as you move in, the loan transforms into a conventional mortgage. Money is disbursed as construction advances.
→ Construction-only loan. Similar to a construction-to-permanent loan, these loans cover the cost of building the house as it is being built. However, it won’t change into a conventional mortgage. At the conclusion of construction, the remaining sum must be paid in full, or you must refinance to a new loan that repays the construction loan.
→ FHA construction loan. These loans provide a one-time close construction-to-permanent loan and are supported by the Federal Housing Administration. With a credit score as low as 500, you may be eligible.
→ VA construction loan. The Veterans Administration allows qualified military service members or veterans to finance a home construction project using a VA loan. This is also a one-time close loan.
→ Owner/builder loan. You might be interested in supervising the construction of your home yourself if you dare to be a general contractor. Some lenders provide loans for owner-builder projects, in which the homeowner also oversees construction.
→ Hard money loan. A hard money loan could be used to finance your construction if you lack many regular financing sources. Although the property is used as security for these loans, they typically have greater down payments and interest rates than other options.
Get Help Today
Building your own home is a time-honored Texas tradition. We’re proud to help Texans realize this dream.
Land loans are used to purchase land without a house on it. You can use a land loan to build a home or a business.
There are several types of land loan. Vacant Land Loan or Raw Land Loan
This is unimproved land that cannot be developed due to the lack of utilities including roads, water and sewer lines.
Undeveloped Land Loan
Unimproved land is comparable to raw land in that it may have some older structures or basic infrastructure, but it typically lacks the full range of water, electricity, and other amenities that you’ll require. There may have been a house on this property at one time, but not anymore.
Improved Land Loan This kind of land is suitable for building a home and has access to utilities and highways. These areas could also be referred to as lots.
How do Land Loans Work?
Land loans are similar to conventional mortgages in that they require a down payment, and are backed by the assets they buy, and are repaid over time. A loan officer will assist you in applying for the loan and examine your credit while you work with them. With land loans, the borrower would follow a similar process to that of a typical home loan.
Although individual lenders may choose to set more strict requirements, the Federal Deposit Insurance Corp. sets minimum down payment requirements for land loans. The FDIC requirements are as follows:
Raw land: 35% minimum down payment
For unimproved land, a 25% down payment is required.
15% minimum down payment required for improved land
Land Loans – 9 Types
Land loans can be more difficult to obtain since they differ from conventional mortgages, but you still have options. Here are some possible financing options for your piece of land.
1. Bank or credit union loan
2. Government land loan programs
3. Home equity loan
4. HELOC
5. USDA loan
6. SBA loan
7. Personal loan
8. Buying a teardown
Are You Ready to Get Started?
Our lenders specialize in land/lot loans and will help you secure your chosen site until you’re ready to build.
But we don’t stop there! We offer construction loans and construction-to-permanent loans to help you build your home. We make it smooth and easy to move through each stage of the custom home building process.
Ready to start the loan application process? If your down payment is lined up and your credit is in great shape, talk to us. We’re excited to help you secure the lot of your dreams.
