Independent Banker - February 2022 - 50

bank based in Texas City, Texas,
with 27 banking centers primarily
in the Houston metro. Many are
affected by the ups and downs of
the energy sector. Some have direct
ties to it, selling equipment to the oil
exploration industry or working as
contractors, for example. Others are
plumbers, dry cleaners or restaurants
who provide services for the
sector's workforce.
Houston suffered
damage from
Hurricane Harvey
in 2017.
" Everyone is somehow or another
impacted by energy, " says David
Daspit, Texas First Bank's chief credit
officer and regional loan president.
" It's just the nature of who we are in
Texas. I've been doing this over 40
years, and our dependence on energy
is certainly less than it was when I
was a very young banker, but it's still
very significant. "
Previous plant expansions by big
energy companies have benefited
the southeast Texas communities
the community bank serves, but the
recent downturn led many industry
giants to put further expansions
on hold. Many of the bank's clients
share that conservatism. " Currently,
the climate is one of caution for
our small-business customers, "
Daspit says. " Business investment in
facilities, equipment, etc., is not what
we would hope it would be. "
However, Daspit attributes much of
the success of Texas First Bank, which
was founded in 1973, to the personal
relationships it has with customers.
" It's knowing our clients and
oftentimes anticipating what their
needs are going to be and helping
them achieve whatever goals they may
have, " Daspit says, before pausing to
greet a longtime customer. He notes
that when that customer's company
was struggling about 20 years ago,
another bank " didn't have quite the
same outlook for their business as
we thought it might have, " Daspit
says. " We were able to help them,
and they've been loyal customers
ever since. "
Storm-ravaged communities
rely on Texas First Bank
Texas First Bank's banking centers are on or near the Gulf Coast, and that
can be a precarious footprint to have during the Atlantic hurricane season,
which typically runs from June through November. Many of its locations
have been affected over the years, including an office on the Bolivar
Peninsula in Galveston County that was entirely washed away by Hurricane
Ike in 2008 and had to be relocated.
The community bank has a robust disaster plan that helps it reopen
banking centers as safely and as quickly as possible. After all, the needs of
affected clients can seem almost as immense as the storm itself. Insurance
claims take time, and eventual payments don't always cover all the
expenses facing a homeowner or business.
Some storms require extra doses of creativity and generosity. For
example, soon after Hurricane Harvey flooded much of the Gulf Coast
in August 2017, Texas First Bank partnered with the Galveston Economic
Development Partnership and two other Galveston-based community
banks, HomeTown Bank and Moody National Bank, to create the Hurricane
Harvey Business Recovery Loan Program.
The program enabled businesses to obtain a 180-day loan with a fixed
rate of 4% APR, which was close to the overnight prime interest rate. The
banks provided between $10 million and $12 million in loans.
In a write-up about its post-Harvey efforts, Texas First Bank stated the
community banks " joined together to do what was right and show a
united front. "
Local knowledge
is everything
Daspit, who is based in Baytown,
Being involved in local communities
is another secret to the bank's
success, Daspit says. Texas First
Bank contributes to charitable
organizations, and he says its
bankers are " highly encouraged " to
serve on boards and committees of
local organizations.
Texas, has held leadership roles in his
local Rotary Club and at the United
Way. He currently sits on the board of
the Baytown Chamber of Commerce.
" Serving our clients is serving our
community, " he says. " You can't do
one without doing the other. " 
Mindy Charski is a writer in Texas.
50 Q ICBA Independent Banker Q February 2022
Independent Banker - February 2022

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