Lending Partner Update: Broadway Bank

Broadway Bank recently announced it is moving forward with its strategic plan to enter the Austin market. The plan calls for four to six locations throughout the Austin area over the next three to five years with an investment of approximately $20 million and 50 personnel.

"This move makes perfect sense for us and is a milestone in our strategic growth and development plan for presence north along the IH-35 corridor and into Austin," said Jim Goudge, chairman and CEO of Broadway Bank. "We started our expansion north in 2005 with acquisitions in San Marcos, Kyle, Buda and Wimberley. In 2--9, we added banking centers in Dripping Springs and Bee Cave."

Broadway Bank is now operating a loan production office at 2905 San Gabriel while its new Austin headquarters is under construction. The LPO offers real estate loans, residential loans, personal loans, commercial loans, and cash management services, which include business lines of credit and private banking.

The planned 5,700 square-foot Broadway Bank Austin Headquarters will be part of the four-story Midtown Medical Towers at 38th & Lamar Blvd. The location will include a personal banking lobby, private offices, conference rooms, a four-lane motor bank and ultimately, a staff of 20. It is slated to open in April 2013 and will offer a full suite of services, including private banking, commercial banking and personal banking, among other services. Future sites and construction timeframes are still in the planning stages and have not been confirmed.

"At Broadway Bank, we pride ourselves in being a true community bank. Our size, strength, and stability allow us to provide services for customers that may be too small for the national banks, but still need the comprehensive products, services and concierge banking that Broadway Bank offers," said Harvey P. Hartenstine, newly appointed president of the Broadway Bank Austin Region. "The city's long-term growth potential and our relationship centric culture and value proposition will work well together."

Stephen Jeffrey, a long time Austin banker and third-generation resident, was recently named Senior Vice-President, private and business banker. Jeffrey and Roger Bott, a Broadway Bank SVP and seasoned private banker within the Austin Area, are now supporting the Loan Production Office.

Article from Texas Banking Magazine, Volume 101, No. 10, October 2012.