Green Bank 2010 numbers show solid growth as the bank leverages deposits to fuel commercial loans in Houston, Austin and Dallas. According to the bank’s quarterly Report of Condition, assets increased approximately 59 percent to $865 million as the bank began its fifth year. Following a merger, Green Bank opened 2007 with $228 million in assets.
“The fourth quarter yielded a $100 million increase in loans, lines of credit, energy and owner-occupied real estate loans in the $1 to $15 million dollar range, ” said Green Bank President Geoff Greenwade. “The addition of nearly $200 million in deposits from the OneWest Bank Dallas acquisition has allowed us to expand Houston and Austin operations and establish a sound footing in Dallas. Our ability to meet the needs of successful clients is moving us to the forefront of Texas banking.”
The bank achieved remarkable growth in 2010:
• Total Assets – $865 million from $545 million (59%)
• Loans Receivable – $556 million from $373 million (49%)
• Deposits – $711 million from $467 million (52%)
• Staff Growth – 104 from 81 (28%)
In late June, Green Bancorp, Inc., the holding company for Green Bank, N.A., completed a $100 million equity capital raise transaction. This equity positioned the bank to complete the November acquisition of the Dallas branch of the former La Jolla Bank from OneWest Bank, FSB. With the addition of the OWB deposits, the bank’s lending limit increased to nearly $20 million.
“In six months, we completed a capital raise, closed our first acquisition and put our assets immediately to work in markets across the state, ” said Greenwade. “2011 only promises more opportunity--our bankers are hustling and we are gaining traction with mid-cap companies. As we continue to prove ourselves, more doors open.”
The bank’s long-term goal is to continue growing organically, and through acquisitions, to $3 to $5 billion in assets. Currently, the bank is hiring commercial loan officers and welcoming new private banking clients.
About Green Bank
Green Bank, N.A. (greenbank.com) is a wholly owned subsidiary of Green Bancorp, Inc. Headquartered in Houston, the bank focuses on the commercial and private banking needs of middle market businesses and individuals with innovative products and personal attention.
Green Bank is committed to streamlining processes, preserving resources and performing to a higher standard. Green Bank employees are empowered to work toward long-term goals and make sound lending and investment decisions.
Green Bank, N.A. is a federally chartered bank regulated by the Office of the Comptroller of the Currency, a division of the Department of the Treasury of the United States.