President and CEO Jeff Schmid recently spoke with the Dallas Business Journal about the bank’s recent growth, expansion strategy and vision to be the next great Texas bank.
By Catherine Leffert Staff Writer, Dallas Business Journal
Susser Bank has grown its workforce by more than 10 percent in the last six months, opened shop in new Texas markets, upgraded its technology platforms and rebranded since it switched leadership in 2018.
President and CEO Jeff Schmid took the helm at the company 14 months ago at the start of the COVID-19 pandemic to help strategize the bank’s growth and identity after it was bought in 2018 by Susser Banc Holdings Corporation, led Sam L. Susser. Schmid said the Arlington-based bank outlined then that it wanted to expand to be a high-performing state-wide institution.
“I came along to really help the organization, figure out, ‘Who do we want to be?’” Schmid said. “The strategy is fairly simple: we’re going to create the next great Texas bank.”
To execute that strategy, Schmid said the bank has prioritized talent acquisition and technology advancements.
Schmid said in the last four months, the bank has begun building markets into San Antonio, Austin, Houston and Dallas and plans to grow its banking workforce in those areas by 10-15 percent in the next two years. He said the bank also wants to grow its mortgage workforce and business. It currently has about 200 employees across locations, with 20 to 25 added in the last six months.
The bank’s technology upgrades include its website, online document signing capabilities and a third party deposit treasury business that allows Susser to bank with people across the U.S.
“We’ve leveraged this quiet little bank in Arlington into the major markets in Texas,” Schmid said. “And those markets are led by really smart bankers. And then to connect all that we did some major technology conversions last year that really kind of allowed us to punch above our weight.”
The bank was renamed from Affiliated Bank this year as its goals and leadership have changed. For the past two to three decades, the bank had focused on its builder residential home financing business. Schmid said over the past year, the bank has worked to build a strong commercial private enterprise and traditional mortgage business. He added the bank’s recent growth has been in aim of aligning with its new strategy.