January 10, 2005 www.bankersdigest.com Volume 126, No. 2 Your Bank, Ponchatoula, Louisiana, Opens as Sterling Bank Names First De Novo in Louisiana Since January 2000 Brown Regional CEO Your Bank, located at 1639 Highway will target small businesses and con- Sterling Bank, Houston, Texas, has 51 in Ponchatoula, Tangipahoa Parish, sumers. named Allen D. Brown to be its new Louisiana, opened for business on Your Bank’s initial board of directors regional CEO. November 3, 2004. Your Bank success- is comprised of 12 members. Frank T. Brown will oversee Sterling Bank’s fully raised $4,500,000 in capital from Vallot, owner of Acadiana Hardwood wealth management, international approximately 235 local investors. and Cypress, Ponchatoula, will serve banking, SBA lending, and energy The bank’s capital has subsequently as chairman of the board; Glenn R. lending departments. He most re- increased to $5 million. Bartels as CEO and CFO, and A. Glenn cently served as CEO of Metrobank, The de novo bank is believed to be the Geddis as president of the new state first new bank charter in the fast growing chartered commercial bank. Rounding N.A., Houston, Texas, and president of Northshore community of Ponchatoula out the management team is Gwen Metrocorp Bancshares Inc., a Houston- in the last 70 years. The bank had its Bartone will serve as vice president/ based bank holding company. grand opening on December 11, 2004. operations. Sterling Bank, a subsidiary of Sterling Your Bank is located east of I-55 and Commissioner John Ducrest of the Bancshares Inc., operates 36 banking south of I-12 in a permanent facility Office of Financial Institutions stated offices in the Houston, San Antonio, which has two drive-thru lanes and a Your Bank is the first new commercial and Dallas metro areas Q drive-up ATM. The full-service bank bank to be chartered in Louisiana since January 2000 when First Community First Fidelity Taps BOK Financial Corp., Tulsa, Oklahoma, Buys Short First Fidelity Bank, N.A., Oklahoma City, Valley Commerce Bancorp, Phoeniz, Arizona has named Marc Short Tulsa division BOK Financial, Tulsa, Oklahoma, has Valley Commerce Bank has assets of president. The 20-year banker joins entered into an agreement to acquire $152 million, net loans of $89 million, First Fidelity from Bank of America Phoenix-based Valley Commerce Ban- and deposits of $112 million. The bank, where he served five years as senior corp and its Valley Commerce Bank sub- founded in 1995, has two full-service vice president of the commercial group sidiary, allowing the $14.4 billion-asset offices, one each in Phoeniz and Scott- in Tulsa. Earlier, he served in corporate regional financial services company sdale. banking and commercial lending with to expand into the nation’s sixth-larg- The Phoenix-Mesa-Scottsdale area Bank of Oklahoma and Bank One est city with full-service banking, BOK has growing incomes and five year pop- Q Financial Vice Chairman Burns Hargis ulation growth approaching 13 percent. Please route this issue to: announced on December 1. During the 1990s, the population grew BOK’s planned acquisition is part of by more than 45 percent, according to a strategy of expanding into growing a statement issued by BOK. metropolitan markets. BOK’s subsidiary BOK will pay $32 million in cash for In This Issue... bank, Bank of Oklahoma, opened an all outstanding shares of Valley Com- LPO in Phoenix during the summer of merce, subject to possible adjustments Financial Institutions Continue to 2004. in accordance with the terms of the make S Corporation conversions; “We look for fast-growing, large agreement. The transaction, subject trend to continue. metropolitan areas that have a highly to necessary approvals, is expected to Feature...... 3 consolidated banking presence - large close in the first quarter of 2005. national banks, but not many middle- BOK Financial also owns Bank of Al- Charter Activity...... 11 market banks. ... we can come in and buquerque, Bank of Arkansas, Bank of provide all the services of a national Texas, Colorado State Bank and Trust, Classified...... 13 bank but with a more community bank broker/dealer BOSC, and the TransFund approach,” Hargis said. p e o p l e TEXAS Retired First of Abilene Chairman Johnson Dies at Age 88 Sterling Names He- Walter Fred Johnson Sr., died in born November 15, 1916, in Lyford in Abilene on December 21, 2004. He was the Rio Grande Valley. aney CEO, MedCentre Johnson began his banking career Sterling Bank, Houston, has announced at the age of 18 as a bookkeeper at the the appointment of banking veteran Jim First National Bank of Raymondville. Heaney as CEO for its MedCentre office at 8525 Wurzbach He rose to cashier at that bank before in San Antonio. serving as a national bank examiner. The announcement He moved to Abilene in 1954 to be- was made by Danny come president of the First National Buck, Regional CEO Bank of Abilene, then known as the of Sterling Bank. Farmers and Merchants National Heaney has more Bank. than 25 years of He served as president and chairman executive level of First National Bank of Abilene. In banking experience. 1973, he was instrumental in forming The last four year First Abilene Bankshares (now First Fi- he served as CEO for the San Antonio nancial Bankshares), a multi-bank hold- market of Birmingham, AL-based ing company with First National Bank SouthTrust Bank. Earlier, he served of Abilene as its lead bank. He served as executive vice president/lending at

RED BOOK as chairman of that company until his Security National Bank, San Antonio, retirement in 1986. He continued to which SouthTrust acquired in 2000. Before joining Security National, he serve as a member of that board until served as a lending officer at NBC Bank 1992. Corp. of Texas and InterFirst Bank, both He also served as vice president in San Antonio and president of the Texas Bankers As- Q sociation from 1965-1967. He served as chairman of the Regional Advisory www.bankersdigest.com

Bankers Di- Established 1942 MAZON A Weekly Bank News Magazine (USPS 041180) Published every Monday at Dallas, Texas

Copyright 2005 Bankers Digest® BONNIE JAMISON BLACKMAN, Publisher/Editor R. GILBERT BLACKMAN, Managing Editor 9550 Forest Lane, Suite 125 Dallas, Texas 75243-5928 Phone 214/221-4544 Fax 214/221-4546 E-mail: [email protected] website: www.bankersdigest.com Subscription rate: One year $29.00, single copy $1.00 Opinions expressed by columnists and writ- ers of bylined articles are not necessarily BD COUPON those of Bankers Digest. Editorial guidelines may be obtained upon request. Articles and photos may be submitted to above address or sent via e-mail. Periodical postage paid at Dallas, Texas POSTMASTER: Send address changes to Bankers Digest®, 9550 Forest Lane, Suite 125, Dallas, Texas 75243-5928.

Page  BANKERS DIGEST January 10, 2005 F E A T U R E S Corporation to make the S Corporation election, S Corporations — 37.7% of banks and according to the annual S Corporation 22.0% of stock-thrifts. Following closely Financial institutions con- analysis conducted by global accounting behind are banks in the Midwest with tinue to make S Corporation firm Grant Thornton LLP. The number 33.6 % and stock-thrifts in the Southeast conversions; trend expected of banks and thrifts making the election with 17.8 %. is expected to increase in the coming • Fourteen banks and eight stock-thrifts to continue. years due to these changes. “The with more than $1 billion in total assets enactment of these changes late in have successfully made the S Corpora- By Grant Thornton LLP 2004 undoubtedly did not give some tion conversion. 2004 S Corporation Analysis financial institutions enough time to • Of the 2,137 existing bank and thrift www.GrantThornton.com restructure in time to make the election S Corporations, 503 will reach the 10 for 2005,” says John Ziegelbauer, partner year mark from their initial conversion In the last in charge of Grant Thornton’s financial date in 2007; another 414 will do so in eight years institutions practice and co-author of 2008. “The S Corporation conversion that banks and the study. “Accordingly, it would not be has universal appeal to financial institu- thrifts have surprising if a surge in the number of tions across both geographies and as- been able to banks and thrifts making the S Corpora- set sizes,” says Dick Soukup, co-author convert to S tion election is spread out over two or of the study and a financial services Corporation more years.” industry assurance partner with Grant status, the number of financial institu- Additional findings of Grant Thornton’s Thornton’s Chicago office. “As bank and tions making the election has steadily analysis include: thrift S Corporations approach the 10 increased each year. Today, over 24 • A total of 2,137 — 24.4% of the 8,755 year mark from their initial conversion percent of eligible financial institutions eligible Federal Deposit Insurance date to S Corporation status, they may are S Corporations. As of March 31, Corp.-insured banks and thrifts as of make attractive acquisition targets due 2004, a total of 2,137 banks and thrifts March 31, 2004 — are currently S Cor- to tax laws that favor S Corporations.” are S Corporations. porations. This represents a 128 net To receive a complimentary copy of Changes made by the American Jobs increase of S Corporations over 2003. Grant Thornton’s 2004 S Corporation Creation Act 2004 (AJCA) will generally • The Southwest region has the high- analysis, e-mail Kristi Grgeta at kristi. make it easier for financial institutions est percentage of financial institution [email protected] or call 877/835-1723 Q

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January 10, 2005 BANKERS DIGEST Page  p e o p l e TEXAS Frost Bank Announces Officer Promotions in appointed senior vice president, Dallas real estate lend- Houston,Dallas, Fort Worth, and San Antonio ing. Frost Bank, San Antonio, has announced Enid, OK, and has Jeff N. Reed has recent promotions and appointments in served with Frost been appointed re- Houston, Dallas, Fort Worth, and San for 32 years. lationship bank- Antonio. Denise Peace ing officer, Dallas In Houston, Gary D. Goodart has has been promoted corporate banking. been promoted to market president to senior vice pres- Sharon Escobar for the Northwest ident, regional op- has been named Crossing Financial erations manager, personal banking Center at 13191 Houston. She is re- officer in customer Northwest Freeway. sponsible for con- service at the Coppell Financial Cen- He has 35 years sumer operations for the Houston and ter. banking experience Galveston financial In Fort Worth, Frost elected personal and has served centers. She has 28 banking officers/customer service:Jerry with Frost for eight years of banking Cedillo, Ridglea Financial Center; Lau- years. Goodart is experience and has ra Gee, Grapevine Financial Center, and also the vice presi- served with Frost Tim Maiden, Hulen Financial Center. dent of the board of Bank for 13 years. In San Antonio, promotions to vice Harris County Utility District #6. Linda Fort was president include: , mar- Also in Houston, Lerleen Hawkins elected personal Ericka Pullin has been promoted to senior vice banking officer, keting; Lorena Salazar and Laura president, commercial lending, Staf- customer service, E.Cortez, international division, and ford. She has a BS degree in business Harrisburg Finan- Ernest M. Cunningham, asset review education from Phillips University in cial Center, Houston region. department. Promoted to assistant vice president: , In Dallas, John W. Wood has been Lorena R. Contreras international division, and Jaime A. Martinez, private banking. Elected assistant financial management group officer/financial management services: Diane Flores and Meagan E. Kenny. Carol Groves was promoted to finan- cial management officer, personal trust. TGS + BD Judy K. Meya was appointed admin- color istrative officer, corporate donations. Katherine Lambaria, Jay Schroeder, and Lynn Fossey have been elected

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Page  BANKERS DIGEST January 10, 2005 p e o p l e TEXAS Sonneborn, Livingston Banking at SMU. Woodhaven Names Spivey Livingston has experience in middle Teller Operations Officer Join Legacy as SVPs market lending. After service at Compass Legacy Bank of Texas, Plano, announced Woodhaven National Bank, Fort Worth, Bank and Bank One for over five years, the addition of senior vice presidents announced that Joshua Spivey has he recently joined Legacy Bank’s lending and been named teller operations officer. Eric Sonneborn Brian Livingston team where he will oversee expansion to its lending team. Sharon W. Burran, president, made the into middle market commercial banking. Sonneborn recently joined Legacy announcement. His philanthropic involvement includes Spivey joined the bank in 2000 as part- Bank as manager of construction lending serving on the board of directors for after 10 years with Bank of America’s time teller while attending college. Since Family Services of Plano. then, he has served as both assistant homebuilder division in Irving and He has an undergraduate degree head teller and head teller at the main Fayetteville, Arkansas. He has been from The University of Texas at Austin office. He will now be responsible for active in the Homebuilders Association and holds masters degrees in business overseeing and coordinating all func- of Greater Dallas and the Greater Fort and accounting from the University of tions of the teller department for the Worth Builders Association for the Texas at Dallas Q bank’s four offices as well as assisting past four years. He is a graduate of in bank security operations Q the University of Arkansas and the Southwestern Graduate School of

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January 10, 2005 BANKERS DIGEST Page  p e o p l e TEXAS Comerica Taps Lauter First Financial, Cleburne, Durham Named VP/Cashier, SVP and Kendall VP Ups Allen, Vincent to SVP Independent Bank of Texas Comerica Bank has announced that First Financial Bank, Cleburne, Independent Bank of Texas in Irving has Glenn M. Lauter has been named senior announced the promotion to senior vice announced the promotion of Lori Tuck- vice president, North Texas Business president of Cynthia Allen, Financial er to vice president and cashier. Brad Banking. Lauter Center Manager, Ridgeway location, and L. Durham, president and CEO, made also becomes group Jeff Vincent, a commercial lender at the the announcement. manager of the busi- Burleson location. Dora Vasquez was Tucker has served as assistant vice ness banking group promoted to banking officer. president and manager of deposit op- at Comerica’s Rich- Allen, who previously managed the erations since the bank’s founding as ardson-Belt Line Alvarado location, was named manager a de novo in May 2003. She has 11 years office. of the Ridgeway location in January of bank operations experience, eight Lauter joined 2004. She joined First Financial in years of management experience, and Comerica in 2000. 1995, serving as a teller, mortgage loan is a recent graduate of the TBA Compli- His prior banking processor, and in marketing. ance School Q experience includes Vincent, who holds a BBA degree in eight years with Wells Fargo Bank. accounting from Texas A&M University, He holds a BBA degree from Texas Cochener Joins Texas B&T, joined First Financial in August 2003. A&M University. Longview, as VP, Mgr of HR He earlier served with Frost Bank as Comerica has also named Lori Kendall Kevin Cochener has joined the Texas a commercial banker, an associate vice president, treasury management Bank and Trust Company, Longview, relationship manager, and a middle sales. as vice president and manager of market commercial lender in both Dallas She served with Comerica for nine human resources, according to an and Fort Worth. years before leaving in 1998 to join announcement by chairman Rogers Vasquez, who has served with the bank Washington Mutual Bank. She rejoined Pope. since 1996, began as a teller and was later Comerica in September 2004 Cochener holds an MS degree in Q promoted to new accounts. She became human resource management and a a Licensed Annuity Representative in BS degree in psychology, both from 2001, was promoted to personal banker Texas A&M University. Most recently, in 2002, and was recently promoted to he was employed as a corporate loan officer and processor with First recruiter for Baker Hughes Inc. Prior to Financial Mortgage Q that, he served as a human resources generalist for Houston-based British Petroleum Q

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January 10, 2005 BANKERS DIGEST Page  p e o p l e OKLAHOMA Butler Joins First American Hanson Joins Arkansas Val- Reichert and Fyffe Upped, Bank as Vice President/CLO ley State in Broken Arrow First National in Sallisaw First American Bank, Norman, an- Arkansas Valley State Bank, Broken First National Bank, Sallisaw, has an- nounced the selection of Shanon But- Arrow, has named Sherri Hanson as nounced the promotion of Ethelda ler as vice presi- director of human resources. Terry Reichert and Carol Fyffe to assistant dent of commercial Almon, president and CEO, made the vice president. lending at the Nor- announcement. Reichert has served in banking a to- man West/Goldsby Hanson has extensive experience tal of 29 years, serving in proof, teller Banking Center. in all areas of human resource man- department, collection department, and Prior to join- agement, including management of new accounts. She serves at the Roland ing the bank, he employee benefits programs, compen- main office at 100 E. Ray Fine Blvd. Fyffe has served in banking since served with Okla- sation administration, coordination 1972. In 1993, she joined the bank in homa State Bank in and delivery of training, and leadership the credit department. She is now credit Guthrie. He began development. supervisor and loan assistant at the his banking career in 1999. She holds a bachelors degree in so- Roland main office Butler received a BBA degree in ciology and an MBA degree from Santa Q finance from Southwestern Oklahoma Barbara University Q Keiffer Elected AVP, State University Q Farmers & Merchants Bank Ethan Keiffer was recently elected as- Koone Joins Southwestern Bank in OkC as Sales Mgr sistant vice president of the Farmers Southwestern Bank, Oklahoma City, and implementing an aggressive sales & Merchants Bank, Crescent. He has announced that Peggy Koone has been training and business development served in lending since his 2001 gradu- name sales manager. She will direct program. ation from Oklahoma State University, and coordinate the bank’s sales and Koone has more than 20 years of where he earned a bachelors degree in marketing efforts, in addition to creating banking experience Q agricultural economics and financeQ

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Page  BANKERS DIGEST January 10, 2005