Sam L. Susser, Chairman and CEO of the Bank, spoke with the Dallas Business Journal about the mission behind our name and succession planning.
Many North Texas banks are ready to be acquisitive as mergers in the industry steadily increase and the number of smaller banks continues to drop.
Though a myriad of factors contribute to M&A activity for financial institutions — low interest rates dampening traditional money-making methods, technology advancing at a presto pace and big banks getting bigger — there’s a major, less economically-driven issue.
North Texas bank leaders all agree — a successful bank needs qualified successors.
One of the most important, and increasingly more obvious, aspects of current and upcoming deals is the question of “who will run the bank?”
As many community banks look to the future, some could be eyeing to sell because they don’t have a succession plan. Others could be foregoing a succession plan because they’re looking to sell.
Sam Susser, chairman and CEO of Susser Bank, said when he became chairman of the company three years ago, he met with at least 20 other Texas-based community bank leaders.
“Most of the banks that I met with, their plan was to sell out,” Susser said. ”They definitely were not worried about succession planning. Their succession plan was to consolidate. I definitely believe that’s a trend…Because banks are wanting to exit, they’re not focused on succession planning.”
By Catherine Leffert – Staff Writer, Dallas Business Journal
Aug 23, 2021, 11:36am EDT