State Bank of Texas ranks among nation’s top performing community banks
DALLAS–(BUSINESS WIRE)–State Bank of Texas, the national leader in hotel loans, today reported its 2021 year-end results with net income of $50 million and total assets of $1.35 billion. The bank’s return on average assets (ROAA) is 4.43%, ranking it first by ROAA (%) among 1,551 community banks between $100 million and $10 billion in assets. The ranking was compiled by BankRegData from year-end FDIC call report data, excluding credit card and home loan banks.
“This recognition reflects our commitment to the industry,” said Sushil Patel, President of State Bank of Texas. “It’s a true testament to our lending philosophy and core company values.”
It’s a nationwide independent and franchised limited-service hotel and motel lender known in the industry for closing loans in as little as 10 days.
From December 2019 to December 2021, State Bank of Texas increased its loan portfolio by nearly 50%, from $681 million to $1 billion. “Although the hospitality industry is going through a tough time during the pandemic, our bank continues to thrive,” said Rajan Patel, chief loan officer and executive vice president of State Bank of Texas. “It’s largely thanks to the courage and determination of the thousands of family businesses we serve.”
Inasmuch as Indian American Family Bankthe State Bank of Texas specializes in serving Indian-American hotel owner-operators, a population that owns two-thirds of all hotels in the United States.
“The more people learn about our character-based approach to hotel loans, the more they want to align with us,” says S. Patel. “They don’t just trust a community bank, but a fellow hotelier and a family business.”
About the State Bank of Texas
State Bank of Texas was founded in 1987 by Chan Patel and continues to be owned and operated by the Patel family, with Chan Patel (father) as CEO, Sushil Patel (son) as chairman and Rajan Patel (son) as Director of Loans and Executive Vice President. As the largest Native American-owned bank in the United States, the bank focuses on lending within the hospitality industry. For more information, company news and more, visit www.statebnk.comor follow Facebook, LinkedInWhere Twitter.