plains-state-bank Research by SuperAGI

Overview

Plains State Bank is a full-service community bank established in 1957, headquartered in Humble, Texas. The bank operates four banking centers, specializing in Small Business Administration (SBA) lending and serving both individuals and businesses, particularly small business owners across Texas. As a Preferred Lender under SBA guidelines, the bank is known for its innovative financing solutions tailored to meet the needs of small business owners.

Financial Highlights

Plains State Bank demonstrates significant financial robustness, with total assets amounting to $435,153,000. Recently, the bank reported a net income of $4.5 million for the third quarter, contributing to a year-to-date net income of $12.8 million.

Recent Developments

Plains State Bank expanded its service offerings through the acquisition of Core+ Financial Strategies, a Houston-based wealth management and tax services company. This acquisition forms part of its growth strategy to provide enhanced financial advisory services alongside traditional banking. The rebranding to Bank of the Plains on June 20, 2023, signifies the bank's effort to unify its brand identity and leverage broader market opportunities.

Leadership

Milan B. Saunders - Chairman & CEO, oversees the bank's strategic direction and operational leadership.

Chris Morris - Executive Vice President and Chief Lending Officer, supervises the bank's lending strategies.

Shirley Knesek-Enloe - Chief Financial Officer, manages financial operations.

Ashley Denton - Chief Risk Officer, responsible for identifying and managing risks.

Christy Kuhn - Executive Vice President and COO, oversees operational management and strategic planning.

Professional Services

Plains State Bank offers an array of personalized banking services including business lending, treasury management, online and mobile banking, and tailored products for both commercial and individual clients. The bank commits to providing a unique professional banking experience with advanced technology and expert staff. Its focus on community banking is reflected in strong local relationships and enhanced customer service delivered by knowledgeable lending professionals.

Specialized Services

Through a partnership with Raymond James Financial Services, Inc., Plains State Bank extends wealth management services providing a wide range of investment options. These services are not FDIC insured and involve certain risks.

Competitor Landscape

Plains State Bank operates within a competitive landscape that includes regional peers such as Arrowhead Bank, Cowlitz Bank, and Beacon Business Bank. Additional competitors in this sector include Arbor Bank, Truist, and First Republic Bank. Plains State Bank matches similar revenue ranges with regional competitors like Pioneer Bank and Midwest Bank, indicating a strong competitive stance.

Unlike some aggressive expansion strategies seen in competitors like UniCredit, Plains State Bank has focused on stable growth. Competitors such as Citizens Investment Services and Lake Osceola State Bank offer similar service frameworks, positioning Plains State Bank as a formidable player in its operational geography.