PlainsCapital Bank Makes Direct Donation of $50,000 to VAMOS
By Roberto Hugo Gonzalez
As originally published By Texas Border Business newsprint Edition
The arrival of PlainsCapital Bank to the Rio Grande Valley marketplace couldn’t be more opportune. Mr. Alan B. White, Chairman and Chief Executive Officer of Plains Capital Corporation wasted no time in interacting with the leaders of the area that promote education.
White has secured PlainsCapital Bank’s participation in one of the most important non-profit entities, Valley Alliance of Mentors for Opportunities and Scholarships (VAMOS), that helps young people to acquire higher education.
Even though they are the Valley’s newest bank, their commitment to education and to this community is at a maximum level. White and his team donated $50,000 for this purpose, and that is a very generous contribution.
Additionally, White offered a $5,000 gift to Lauro Tijerina a VAMOS scholars and is now a mentor. The money goes to his studies, Lauro is going to graduate this may and becomes the first of his family to graduate with a college degree and the first to go to dental school.
Born in Roswell, N.M. in 1949, White moved to Lubbock in 1959 where he started his bank. White has built one of the most formidable financial-services companies in the state of Texas.
During an Exclusive interview with Texas Border Business he said, “In business there are a lot of challenges but I am fortunate to have a lot of good people that work with me like the ones you see here today. This has been a real pleasure coming in here.”
Was it hard at the beginning when you started in banking? “Well I was young and I didn’t know any better. I started in the eighties, and the eighties were challenging.” He continued, “It has been good and continues to be good and I feel blessed.”
Can you tell me what were those challenges? “Well, the banking business was in the tank in Texas and that was difficult. The loan situation was also challenging but we were able to get over that. In 2008 and 2009 again, those were difficult years, we have gone through that and things are better now.” Today there is a lot of regulation but according to White, it’s a matter of adapting and moving on.
What is your opinion of the Rio Grande Valley” “I have been down here quite a bit. There is a lot of commerce that goes on between here and Mexico and I guess I didn’t realize how much. I think that the Valley is vibrant and has great growth potential. I think that there is going to be more job market growth here than anywhere else. I am also amazed that 47,000 students are attending college and that blew my mind away,” he said.
He pointed out that the Valley is a great opportunity and it’s coming into its own. “I think that the relationship with Mexico and eight million people within a couple hundred miles, it has everything to gain.”
Do you really believe in education? “Absolutely,” he said. “When I was told about this I said this is where we need to be. You don’t give money to people that have no track record, VAMOS has a track record and they will put this money to good use.”
What is your opinion of the U. S. economy? “I think it is sluggish, and it’s coming back slow. It is gaining a little bit of steam but it’s not doing what everybody would like to see it do. But I think that we are blessed in Texas because it is better, not great but better.” In addition he said that as times goes on when people start getting jobs it will get a lot better.
What is your opinion on the Valley’s economy compared to other small communities?
“I think that the Rio Grande Valley has a lot of potential because of the commerce between here and Mexico. There is so much happening from building warehouses, agriculture, and education. The medical school, the availability of healthcare services, and people coming from Mexico to shop here, all of these make this area unique.”
I recently visited Los Cabos and I got a taste of the 16% sales tax imposed, but I feel that it will generate additional business for Texas and the Valley.”
Plains Capital Bank specializes in what kind of banking? “We do all of it, commercial, consumer and we do a lot of mortgage business. We have a large mortgage company that is all over the country.”
White said there are 27 branches of PlainsCapital Bank in the Valley and 84 branches outside the Valley. “In the mortgage company we have 330 branches, and in the investment bank we have 25 branches.”
White emphasized, “We are a community bank and we believe in taking care of our employees, taking care of our customers, and taking care of the communities we serve; and this is an example of what we do.”
White has been married to Lee Ann, since 2002 and they have two daughters, Erin and Amy, and a son, Michael. In 1972, he earned a BBA in finance from Texas Tech University.
PlainsCapital Bank Market President Albert Chapa said, “PlainsCapital Bank is committed to making a difference in the community and giving back to the markets we serve and VAMOS’s educational scholarships and mentoring programs are changing the lives of low-income students in the Rio Grande Valley. We are honored to partner with such a wonderful organization.”
VAMOS) is holding its 18th Annual Golf Cup Tournament presented by PlainsCapital Bank, on March 1, 2014 at the Palm View Golf Course. This tournament is the organization’s largest fundraiser and one of the most anticipated tournaments in the Valley. Teams will be competing for the VAMOS Golf Cup and over $20,000 in prizes will be awarded throughout the event.
Players will have an opportunity to win a brand new vehicle at each of the par 3’s. In addition, VAMOS will have its Annual Grand Prize Drawing at the end of the tournament. The winner of the drawing will have a chance to choose one of four Grand Prize Vehicles from the Bert Ogden Rio Grande Valley Dealerships.
White’s area of responsibility includes leading Plains Capital Corporation’s strategic direction and overseeing the Corporation’s financial strength, stability, and management. He is the Chairman of Plains Capital Corporation, PlainsCapital Bank, PlainsCapital Securities LLC, and PlainsCapital Equity, and PlainsCapital Insurance Services LLC boards of directors. Serves on the board of directors of Hilltop Holdings Inc. as vice chairman.
Serves on the boards of directors of FirstSouthwest Holdings LLC, PrimeLending and PlainsCapital Bank Lubbock Advisory Board.
White is a Visionary entrepreneur and tireless community leader. In 1987, he founded PlainsCapital Corporation, and acquired Plains National Bank (later renamed PlainsCapital Bank) in 1988. From 160 million in assets, White continues to drive the Corporation’s unprecedented growth; in the third quarter of 2013, PlainsCapital reached $9.1 billion in assets. He expanded PlainsCapital Corporation into a fully diversified financial institution offering banking, investment banking, public finance advisory, asset management, trust and residential mortgages with approximately 400 locations in 44 states and more than 4,400 employees nationwide.
White led PlainsCapital’s acquisitions of FirstSouthwest and PrimeLending, and led PlainsCapital during the Hilltop Holdings merger by acquisition and is the champion of PlainsCapital’s relationship-focused approach to delivering financial services.
His job philosophy is as he says, “I’ve got to keep people pumped up and focused.” Hobbies: “I watch TV. But other than that, my hobby is working.” TBB
Written by Roberto Hugo Gonzalez the 2009 SBA Journalist of the Year Award Winner & The 2009 and 2012 Paul Harris Award recipient.
Received the Robert H. Dedman Lifetime Achievement Award in Philanthropy by the Boys & Girls Clubs of Greater Dallas, 2013.
Named one of the Top 100 Most Influential Citizens of the Past 100 Years by the Lubbock Avalanche-Journal, 2008.
Received the Distinguished Alumnus Award from the Texas Tech Alumni Association, 2005
Inducted to the Texas Tech Athletic Hall of Legacy, 2003
Inducted to the Lubbock Chamber of Commerce Business Hall of Fame, 2002
Named “Outstanding CEO” by Texas Tech Rawls College of Business, 2001
Received Texas Tech University Ex-Student’s Association Lauro Cavazos Award, 1999
Named “Citizens of the Year” by the Lubbock Chamber of commerce, 1995
Received the West Texas Museum’s Action Award, 1995
Received the Distinguished Alumnus Award from Leadership Lubbock, 1990
North Texas NCAA Men’s Final Four Local
Organizing Committee board of directors
Circle Ten Boy Scouts of America honorary board member
North Texas Super Bowl Committee chairman
Cotton Bowl Athletic Association board of directors
MD Anderson Cancer Center Living Legend Committee member
Dallas Citizens Council member
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