And a Mega Business Mixer Celebration
By Roberto Hugo Gonzalez
Texas Border Business
Things are moving along the right way for two great institutions, Vantage Bank Texas and Inter National Bank, and the Collins family, known for their contributions to the South Texas community.
On October 25, 2018 they celebrated a Mega Business Mixer at the INB headquarters in McAllen. Clients and friends attended to hear the exciting announcement given by Jim Collins, Chairman, and Sam Munafo, President/CEO. While the bank’s staff acted as wonderful hosts attending to dozens of distinguished clients of the banks, it was clear that Collins and Munafo had good news to share.
To share a bit of history, on Friday March 31, 2017, the Collins Family completed its purchase of Inter National Bank from Grupo Financiero Banorte, putting ownership of the institution back in the hands of the local family that helped establish it more than 30 years ago.
It is important to say that Inter National Bank earned a five-star rating from the independent rating agency BauerFinancial and is on Bauer’s Recommended Bank Report. According to Bauer, institutions in the report are “financially sound” and “operate well above… regulatory capital requirements.”
The good news reported during the business mixer is that soon the merger will be official, however everything will remain the same. Collins stated that customers will not notice any changes to the bank they have come to trust since 1985.
Munafo said that what’s changing for the bank is a larger legal lending limit that will increase, allowing them more dollars for the community. He added, “Both Vantage Bank Texas and Inter National Bank are great banks; together we will be stronger for our clients.”
Concerning the merger, on July 2018, officials with San Antonio-based Vantage Bank Texas and Inter National Bank of McAllen filed applications with federal and state regulators to merge the two banks. Pending approval, the new bank will be called Vantage Bank Texas. At that time, Collins told Texas Border Business that the merger was the logical next step to create value for customers and employees of both banks. Collins knows that customers value the privilege of enjoying the benefits of local decision making, because it is faster than anything else in the market.
Why the merger?The two banks have common owners, the Collins Family Trusts; it has long been their owners’ intention to merge the banks at the appropriate time. The Collins family has been committed to South Texas banking and serving the international community since 1985, when it was a founding investor of Inter National Bank. The family’s 2008 investment in Vantage Bank Texas solidified that commitment and extended it to the San Antonio market.
The merger will result in one bank that will provide expanded products and services to San Antonio, South and Central Texas as well as to El Paso and to their international clientele.
The business mixer featured an art exhibit by Kika Kuri, hors d’oeuvres catered by Bodega Tavern & Kitchen, and a wine tasting. This was a superb social business mixer. Collins said the business social events will continue because it is important to stay in touch with customers.