As the end of year draws near, I would like to thank our clients, shareholders and teammates for an amazing year. The success of The Bank of Austin is based on the relationships we’ve earned with Austin area businesses that we serve every day, along with the solid foundation of our shareholders and board of directors. Our passion for helping businesses grow and thrive steadily remains our mission and our purpose.
One of the milestones I’m most proud of is that we’ve quadrupled in size with a 300% growth rate in terms of total assets since our inception 17 months ago. We have a strong deposit and loan pipeline, and we are enthusiastic to earn new opportunities with value-added advice and strategies. Our success is fueled by the expertise and commitment from our highly-skilled team as well as our solid board of directors. We are honored and privileged to meet with new business owners every day and to provide those owners with a unique and personalized experience.
Being one of the few locally-owned banks in Austin, I am grateful for the gracious welcome our bank has received as we’ve met with business owners across our community. In fact, as a growing bank, we face some of the same headwinds and tailwinds that many of our local business owners experience. We are consistently working to outperform a competitive marketplace, while also growing and selecting additional talent to enhance our team and service capabilities. There is no doubt that the spirit of partnership and passion for business growth is alive and well in our community and for that, I am extremely grateful.
2018 will be an important year in our history, as we grew our team, increased our capabilities and expanded our reach. As trusted advisors and strategic partners, we’ve helped business owners streamline their operational processes with customized financial solutions and other services. One of our most valued services is our robust Treasury Management platform which provides our business owners not only with peace of mind and protection, but also with tools to optimize their cash flow cycle. We also opened an insurance division for personalized insurance services.
It’s a great time to be in the growing city of Austin, and it is an honor to serve business owners through custom-tailored banking solutions. As we grow together as a bank and as a community, our promise to our clients will become even brighter—we are with our business owners every step of the way as Austin’s bank for business.
Best wishes and happiness to you and your families over the festive season. We look forward to a successful 2019!
President & CEO