Rafferty and Jordan Promoted, IBERIABANK Quintero, Garton, And
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March 17, 2014 www.bankersdigest.com Volume 144, No. 11 Rafferty and Jordan Quintero, Garton, and Hicks Market President, Promoted, IBERIABANK Mikles Div Presidents Centennial Bank in AR Kevin P. Rafferty, who has served as Great Plains National Bank, Elk City, Matt Hicks was recently promoted executive vice president and market OK, has announced the promotion of to market president of Conway, AR- president of South Manuel Quintero, based Centennial TX for Lafayette, Robert Garton, Bank in Rogers LA-based IBERIA- and Tony Mikles and Bentonville, BANK since 2009, to division presi- according to Scott has been named dent and Jeff Wa- Hancock, Centen- regional president ters to president nial Bank division of Texas to oversee of the 3rd Street president. the Texas markets Branch in Elk City, Hicks began his and the energy according to CEO banking career in lending division. Rafferty Mark Russell. Quintero 2004 with Liberty Hicks Carmen A. Jordan As division Bank of Arkansas will assume the role of Houston mar- president, each banker will be re- in Jonesboro. After relocating to NW ket president. sponsible for managing a designated AR in 2006 with Liberty, he served in Rafferty’s previous experience in- region of branch locations and be- branches throughout the area, includ- cludes leadership and management coming a part of senior management. ing Siloam Springs. He stayed on with positions with First American Bank, These individuals will be a key factor Centennial Bank after it bought Lib- Washington, DC, in future decisions erty in 2013. Most recently, he served and Whitney Na- for the bank. as a vice president of lending in the tional Bank from Waters, an ex- Bentonville and Rogers markets. 1979 – 2009 in perienced com- He holds an MBA degree from Hard- New Orleans, LA, mercial lender in ing University in Searcy and a BS de- and Houston. He the Elk City market, gree from Arkansas State University in earned bachelor’s has been respon- Jonesboro. He is past chair of United sible for the over- and MBA degrees Way Generation: Give and current board all management of from Tulane Uni- member and treasurer for the Single the bank’s Business versity. Parent Scholarship Fund of Northwest Jordan Manager Program, Mikles Currently ex- Arkansas ecutive vice presi- which purchases in- Q dent and regional group manager for voices from area businesses. Please route this issue: the bank’s commercial banking group, Great Plains National Bank, with Jordan reports to Rafferty. She has $600 million in assets, has expanded over 23 years of commercial lending its footprint into the surrounding experience. Prior to joining IBERIA- Oklahoma City BANK, she served as chief lending of- market, opened a In This Issue... ficer at Encore Bank in Houston and full-service mort- Letter of Credit: Common Sense earlier managed the corporate energy gage company, services lending division at Amegy and in January Prevails Bank in Houston. 2014 acquired Legal Phases....................................3 Jordan is a graduate of Lamar Uni- branches in Wood- versity in Beaumont, TX, where she ward and Taloga Charter Activity..............................9 earned a BBA degree in finance. She from First Ameri- currently serves as vice chair of Lamar can Bank in Nor- Classified........................................10 University’s College of Business Waters Q man Q Published weekly on Mondays except fifth Mondays P E O P L E TEXAS Clarke Joins Integrity in Byrd elected SVP/SBA, WestStar CEO Patton Houston as Senior VP Texas Brand in Dallas Reappointed by Perry President/CEO Charles M. “Mack” Veteran Dallas area banker Ken Byrd Gov. Rick Perry has reappointed Larry Neff Jr. has announced that John A. has recently joined the Dallas Uptown L. Patton, president/CEO of $1 billion- Clarke has joined office of Garland’s asset WestStar Integrity Bank, Texas Brand Bank Bank, El Paso, to SSB, Houston, as as SVP to head its the Finance Com- senior vice presi- SBA lending pro- mission of Texas. dent. With over 32 gram. His term will expire years in Houston Byrd has more February 1, 2020. banking Clarke will than 40 years in Patton is a past focus on commer- banking, focusing on board member for cial lending to pro- small business and the El Paso Branch Clarke fessional service Byrd commercial lending Patton of the Federal Re- firms, including for the past 20 years. serve Bank of Dal- legal, accounting, medical, architec- He has also served as president/CEO of las and a past board chair for the Unit- tural, and consulting. two D/FW area community banks. ed Way of El Paso. He is an advisory Clarke holds a BBA degree in finance Byrd is an honors graduate of SWGSB board member for the El Paso His- from the University of Houston, where at SMU and a graduate of Texas Tech In- panic Chamber Educational Founda- he is currently a board member and termediate School of Banking. He holds tion and a member of The University immediate past chair for the Alumni the RMA Executive Credit Professional of Texas at El Paso 2014 Centennial Association and a member of the Let- (ECP) designation, is an active member Commission. He is also a past board terman’s Association. He serves on of Texas Association of Business Bro- member for the Texas Bankers Asso- the advisory board for The Briarwood kers, and is a founding member of the ciation and a past board member and School and is a lifetime member of the North Texas Association of Government past chair for the El Paso Hispanic Houston Livestock Show and Rodeo Guaranteed Lenders (NTAGGL) Chamber of Commerce. Q Q Patton joined the bank in 1990 as one of the founders and in December IT’S NOT TOO LATE TO JOIN US 2009 was promoted to president/COO and later to president/CEO. He has served in banking in El Paso for more than 30 years and holds a bachelor’s 12th Annual Bank Conference degree from Eastern New Mexico Uni- versity in Portales Q Keynote Speaker – Congressman Pete Sessions “Congressional Update on Banking” ANKERS IGEST® B Established D 1942 Tuesday, April 22, 2014 A Weekly Bank News Magazine (USPS 041180) Conference Published weekly on Monday except fifth Mondays at 9516 Bill Browne Lane, Dallas, Texas 75243 Wednesday, April 23, 2014 Copyright 2014 Bankers Digest® BONNIE JAMISON BLACKMAN, Publisher/Editor Golf Tournament R. GILBERT BLACKMAN JR., Managing Editor P. O. BOX 743006 Dallas, Texas 75374-3006 Four Seasons Resort and Club Phone 214/221-4544 Irving,Texas Fax 214/221-4546 E-mail: [email protected] website: www.bankersdigest.com Register online NOW at CommerceStreetCapital.com. One year subscription rate: Print $37.00, Online $26.00; Both $50.00. Single copy $1.00 For additional details, please contact Susan Tomcko Opinions expressed by writers of bylined at 214-545-6824 or [email protected]. articles are not necessarily those of Bankers Digest. We make no representations or war- ranties for information, products, or services contained in any advertisement in this maga- zine or on our website. Editorial guidelines may be obtained upon request. Articles and photos may be submitted to above address. Periodical postage paid at Dallas, Texas POSTMASTER: Send address changes to 1445 Ross Avenue | Suite 2700 | Dallas, Texas 75202 | 214-545-6800 ® ©2014 Commerce Street Holdings, LLC, All rights reserved Bankers Digest , P.O. Box 743006, Dallas, Texas 75374--3006 Page 2 BANKERS DIGEST March 17, 2014 L E G A L P H A S E S LETTER OF CREDIT the trustee asserted that the parent in reality shared the same CEO and company, not the subsidiary, owned management. In other words, when is- Common Sense Prevails the account, and therefore the initial suing the letter of credit, the bank was pledge from the subsidiary to the bank dealing with a “flesh and blood” per- By was invalid. son who had authority to bind all of Cliff A. Wade and Jared T.S. Pace his companies, the parent and subsid- SettlePou iary included. And, indeed, the bank in Dallas, Texas ...the bank in this case this case presciently documented its www.settlepou.com understanding of the CEO’s relation- presciently document- ship with his various entities and their Bankruptcy Judge ed its understanding of authority to act for one another. Jeff Bohm, presid- Judge Jeff Bohm refused to decide ing over a case the CEO’s relationship who actually owned the certificate of in the Houston deposit account, but he agreed with Division of the with his various entities the bank that, regardless of owner- Southern District and their authority to ship, the parent company allowed the of Texas, recently subsidiary to transfer the account as overruled a Chap- act for one another. security for the letter of credit. In so ter 7 Trustee’s over- holding, Judge Bohm emphasized that Cliff A. Wade reaching avoidance “a party need not have legal title to the Bankers Digest claims against a Representing the bank, our firm ar- collateral in order to properly grant a TIB,bank’s March security 2014 interest for a letter of gued in the first instance that the sub- creditor a security interest.” Rather, it 1/3credit pg, colortransaction. Sommers v. Comerica sidiary did, in fact, own the certificate is sufficient if the true owner makes it Bank, N.A. (In re: Terrabon, Inc.), No. 13- of deposit account. But even if it did appear to the lender that the borrower 03069, 2013 Bankr. LEXIS 4965 (Bankr. not, we urged that the parent com- does, in fact, own the collateral. Such S.D. Tex. Nov. 23, 2013). pany consented to the subsidiary’s a rule prevents crafty borrowers from In Sommers, the facts are as follows: pledge, especially since the related setting up numerous companies and a bank issued a letter of credit in fa- entities were merely legal fictions who (continued on Page 8) vor of an energy tech company’s sub- sidiary.