San Antonio’s Broadway Bank planning expansion into Dallas
Nine years after Broadway Bank expanded up the Interstate 35 corridor into Austin, the San Antonio bank has set its sights even farther north.The bank reported $5.2 billion in assets at the end of last year, around the time it promoted Steve York to head of new market integration. He will lead the efforts “to establish Broadway Bank’s presence” beyond its current markets, it said in a statement.
“Over the past year, due to the successful offering of relationship services in San Antonio, Austin, and surrounding markets, Broadway grew assets by 9.5 percent,” Broadway President David Bohne said in an emailed statement. “There’s just so much economic growth occurring up in the Dallas-Fort Worth area that it makes sense to put some locations and personnel up there to capture that,” he said.
In addition, he said, there’s been a declining number of “community-type banks” in the Fort Worth, so it represents an opportunity for Broadway. The bank earned $52.6 million on $176.4 million in revenue last year. By comparison, it generated $37.7 million in net income on $167.6 million in revenue in 2020.
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