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Lone Star National Bancshares-Texas, Inc. Annual Report 2013

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Lone Star National Bancshares-Texas, Inc. Annual Report 2013 Lone Star National Bancshares-Texas, Inc. Annual Report 2013 Our Mission Statement The mission of Lone Star National Bank is to be the premier, independent community bank in South Texas by providing the following to our Stakeholders: Customers: Value-added quality sales and service; Employees: Providing a rewarding work environment with opportunities for advancement; Community: Helping our communities to grow, and serving them with pride and integrity; Shareholders: Providing a high rate of return consistent with a high performing bank. 4 Letter to Shareholders, Customers & Friends 8 Financial Highlights 9 Management’s Discussion and Analysis of Financial Conditions and Results of Operations 14 Management’s Report on Responsibility for Financial Reporting 15 Independent Auditor’s Report 54 Board of Directors 56 Advisory Directors 58 Bank Officers 60 Banking Centers, Mortgage & ATM Locations 61 Our History I am proud to report that this financial institution is healthy, strong and secure. - S. David Deanda, Jr. President Leer to Our commitment to being a community bank that puts people first. Finally, our leadership oversaw an expansion of our presence in the San Antonio market with the addition of two new full-service Shareholders, Customers banking centers. One located off 1604 in the Stone Oak area and another on Huebner road. In 2013 and Friends LSNB saw tremendous accomplishments and this is only the beginning! In 2014 we will continue moving forward by focusing on accomplishing five important strategic goals. First, we will continue to become stronger in the area of regulatory compliance. I am happy to report that last year we took tremendous strides towards accomplishing our goal of transforming the bank into an institution with systemic structuring capable of continually producing superior Greetings Shareholders, Customers and Friends: regulatory compliance. We have taken the steps necessary to build our regulatory compliance team within the bank and we have also taken the necessary steps to create a team of outside expert In 1988 I celebrated my fourth year in the banking industry. Around that time I began a new chapter in my consultants who will assist us in ensuring that we accomplish all of our compliance goals. Second, career with a small bank on the brink of failure. From 1988 to 1990 I had the privilege of belonging to a small we will take new steps to develop our existing talent. Driven individuals who are already a part of group of leaders who turned that failing bank around and took it from certain financial ruin, to financial health the company will be given the opportunity to step into greater leadership roles. Existing members that lasted for years after my departure. Out of this experience came two important lessons. First, vision of the LSNB family who know our values, who have embraced our organizational identity and calling accompanied by hard work and consistency leads to progress. Second, people of poor character can take and who are looking for greater significance within the company will be given an opportunity to take environments filled with potential for accomplishment, and if allowed to, can destroy opportunity. I look on greater responsibilities. This will give us an opportunity to create future leaders from our existing back on my time at that institution with pride. It is the pride that comes from knowing that with an talent pool. Third, we will expand our influence in the Rio Grande Valley. Make no mistake about it, unwillingness to quit and with the blessings of God, what seems un-preservable, can be turned into Lone Star National Bank is the premier financial institution in the RGV. This is not debatable. We are something great! Most people and companies do not understand this principle, and instead of head and shoulders above any of our competitors and in 2014 we will continue to show our commu- experiencing the power of it end up folding in failure. Many of the financial institutions we see nity why we are The Valley’s Bank. Fourth, we will continue to develop our new Mortgage Depart- around us will over the course of the next few years come to find out whether they will experience ment into what will become one of the finest mortgage departments in existence, allowing us to this kind of turnaround or whether they will fold in failure. Our situation is quite different. more effectively bring the dream of home ownership to the communities we serve. Finally, we will continue our expansion into exciting new markets by taking steps necessary to add SBA Offices and At this point in my career, as I look at this great company, of which I am proud to be a part, there Loan Production Offices both in San Antonio and in other parts of the State of Texas. 2014 will be an is once again pride. It is not the pride that comes from avoiding collapse or reviving a dead exciting year for Lone Star National Bank! financial institution. It is not the pride that comes from bravely taking the first of many steps in an attempt to scale what others see as an insurmountable mountain. It is the pride Those two lessons I learned years ago are still present and relevant today. Vision, accompanied by that comes from being in the process of scaling the mountain and looking down in hard work and consistency leads to progress. People of poor character can take environments filled wonder at how far you have come, then turning to look up at what lies ahead with potential for accomplishment, and if allowed to, can destroy opportunity. The vision is clear. At and knowing that the peak is within reach. Friends and fellow shareholders, LSNB hard work and consistency are our default position. Progress is inevitable. The peak of the today I am proud to report that this financial institution is healthy, strong mountain is within our sight. Let us, together, quell the voices of those who would seek to destroy and secure. Lone Star National Bank has a great future ahead! We can all our opportunity to greatly impact our communities. Together, with pride, looking down in wonder- look back with pride and ahead in enthusiastic anticipation of the great ment at how far we have come by the blessings of God. Let us turn our eyes upward to what lies success that lies before us! ahead and reach for the peak. The year 2013 was a great year for Lone Star National Bank. In 2013 the bank’s total assets increased to $2.2 billion and $14.4 million in net income In friendship, was earned. The bank’s Return on Equity was 6.53% with Shareholders’ Book Value per share growing by 2.7% and Market Value increasing by 13.1%. In 2013 we were able to reduce our problem assets by $14.5 million. We revamped our teams company-wide. Specifically by way of S. David Deanda, Jr. our new Mortgage Department in San Antonio, so that our team members President more accurately represent who we are as a company, our values and our Per Share Data: Shareholders’ Equity Book Value (Dollars in Millions) 09 09 $28.47 $161 10 10 $29.57 $184 11 11 $32.88 $208 12 12 $35.37 $221 13 13 $36.35 $223 4 l 2013 Annual Report Stock Price Per Share 09 $36.00 commitment to being a community bank that puts people first. Finally, our leadership oversaw an 10 expansion of our presence in the San Antonio market with the addition of two new full-service $35.50 11 banking centers. One located off 1604 in the Stone Oak area and another on Huebner road. In 2013 $37.50 12 LSNB saw tremendous accomplishments and this is only the beginning! $38.25 13 $43.25 In 2014 we will continue moving forward by focusing on accomplishing five important strategic goals. First, we will continue to become stronger in the area of regulatory compliance. I am happy to report that last year we took tremendous strides towards accomplishing our goal of transforming Total Assets (Dollars in Millions) the bank into an institution with systemic structuring capable of continually producing superior 09 Greetings Shareholders, Customers and Friends: regulatory compliance. We have taken the steps necessary to build our regulatory compliance team $1,857 within the bank and we have also taken the necessary steps to create a team of outside expert 10 In 1988 I celebrated my fourth year in the banking industry. Around that time I began a new chapter in my $2,092 consultants who will assist us in ensuring that we accomplish all of our compliance goals. Second, 11 career with a small bank on the brink of failure. From 1988 to 1990 I had the privilege of belonging to a small $2,184 we will take new steps to develop our existing talent. Driven individuals who are already a part of 12 group of leaders who turned that failing bank around and took it from certain financial ruin, to financial health $2,124 the company will be given the opportunity to step into greater leadership roles. Existing members that lasted for years after my departure. Out of this experience came two important lessons. First, vision 13 of the LSNB family who know our values, who have embraced our organizational identity and calling $2,213 accompanied by hard work and consistency leads to progress. Second, people of poor character can take and who are looking for greater significance within the company will be given an opportunity to take environments filled with potential for accomplishment, and if allowed to, can destroy opportunity.
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