Texas Border Business
McAllen – Rio Bank announced today that it has plans to expand its footprint into the San Antonio market. While the details of the plan are still being developed, the bank’s Board of Directors has agreed to commit the resources to establish the bank’s presence in the dynamic and growing market of San Antonio. Ford Sasser, current President and CEO stated, “The market around San Antonio is growing, and we believe we can play a part in that growth. We believe San Antonio and the communities surrounding San Antonio would fit well into our culture, and these are areas of the state of Texas with which we are familiar.”
There will also be some management changes at the bank effective January 1, 2022. Ford Sasser, the current President and CEO of Rio Bank will remain the CEO of the bank and will become Vice Chairman of the Board. Brian Humphreys will assume the position of President of the bank. Albert Guajardo will replace Brian Humphreys as Sr. Executive Vice President and Chief Lending Officer. Darrell Williams will become the Sr. Executive Vice President and San Antonio Market President.
Rio Bank was organized in 1985 by local investors. Current Chairman of the Board, Danny Vela said, “Over the years, the bank’s volume of customers has grown, and it continues to grow in the Rio Grande Valley. We also continue to see the bank’s deposit base grow and its loan portfolio expanded. We believe that the time has come for our bank to look at other markets, and the San Antonio area is one we have had an eye on for some time.”
The bank today has offices from Brownsville to Roma. With the growth in customers came the need for more staff and later the new corporate headquarters building on the expressway in McAllen. Brian Humphreys, the soon-to-be President of Rio Bank said, “Moving into the San Antonio area will expand the footprint of our South Texas bank and make it a regional bank.”
