North Texas Financial Institution Susser Bank Enters San Antonio Market


A North Texas bank follows a familiar game plan as it enters the San Antonio market.

Dallas’ Susser Bank, which held nearly $ 1.4 billion in assets as of March 31, hired three San Antonio bankers who had worked with Houston-based Cadence Bank to get started here.

When Cadence Bank entered San Antonio in 2012, it attracted seven bankers from IBC Bank-San Antonio, a division of International Bancshares Corp, based in Laredo.

Among them was Steve Edlund, who was named Cadence Market Director. He now holds a similar position at Susser Bank.

Sam L. Susser, who chairs consumer and commercial banking, said his family made the decision to go into banking because of the “huge consolidation” in the industry.

“There are a lot of banks in Texas that were very responsive and really knew their customers and were so easy to deal with that became so important,” Susser said. “They’re not as nimble as they were five or ten years ago. We see these banks getting bigger and bigger.

Steve Edlund will be responsible for the San Antonio market for Susser Bank.


Susser sees an opportunity for his bank to listen to professionals, entrepreneurs and small and medium-sized businesses.

Susser Bank recently changed its name from Affiliated Bank. It became a state chartered bank at the end of last year. The bank is owned by Susser Banc Holdings Corp. since 2018.

It is the 85th largest bank in Texas in terms of assets, reports the Texas Department of Banking.

Susser Bank has seven locations – Bedford, Arlington, Dallas, Fort Worth, Garland, Round Rock, as well as San Antonio – and employs over 200 people. Its San Antonio office is at 11503 NW Military Highway.

“Our goal is to have a presence in all of the major markets in the state of Texas,” said Susser. “What sets us apart is that we are building the business to last another hundred years.”

The bank declared $ 938.2 million in loans and $ 1.1 billion in deposits as of March 31.

It generated $ 3.5 million in profit out of approximately $ 17.6 million in revenue in the first quarter. By comparison, he lost $ 376,000 on roughly $ 15.2 million in income during the same period last year.

The institution was started in 1959 as the Affiliated Federal Credit Union, serving the owners and employees of Affiliated Food Stores, a wholesale food distributor.

The credit union converted to a federal savings bank in 1998 when it had around $ 8 million in assets, according to Susser’s website. The bank changed from a jointly owned bank to a joint stock institution in 2001, an ownership structure that enabled it to raise capital from investors.

Sam Susser is also Chairman of Susser Holdings II LP, a family-owned investment company. He sold Susser Holdings Corp. from publicly traded Corpus Christi and its some 600 Stripes convenience stores to pipeline company Energy Transfer Partners for $ 1.8 billion in 2014. The company employed about 12,000 people and was on the Fortune 500.

Susser Holdings Corp. was then switched to Energy Transfer’s Dallas-based Sunoco partnership. In 2018, 7-Eleven completed the acquisition of 1,030 convenience stores, including Stripes stores, for $ 3.3 billion.

BauerFinancial, a Florida-based company that assesses the financial results of banks and credit unions, awarded Susser Bank the company’s highest rating – five stars, which is considered “superior,” for the quarter ended. March, 31st.

Adam Carr, senior vice president of commercial banking, and Elaine Cruz, vice president of commercial banking, join Edlund in the Susser Bank office in San Antonio. All three worked together at Cadence and IBC.

On its San Antonio debut in 2012, Cadence revealed plans to open five to ten branches here, whether through openings or acquisitions. His website, however, shows that he only has one location in San Antonio.

Cadence appointed Ross Vaughan to be its president in San Antonio. He was a commercial banker at Cadence.

Earlier this year, Cadence announced its merger with BancorpSouth Bank of Tupelo, Mississippi, in a deal valued at around $ 6 billion. The transaction is expected to close in the fourth quarter. After the merger, Cadence will have more than $ 40 billion in assets.

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