DOCSLIB.ORG

Lone Star National Bancshares-Texas, Inc

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Lone Star National Bancshares-Texas, Inc _.____--=-_,, ® Lone Star National Bancshares· Texas, Inc. July 31, 2020 Federal Reserve Bank of Dallas Attention: NIC Unit, Statistics Dept. 2200 North Pearl Street Dallas, Texas 75201-2216 RE: FR Y-6 Reports for the fiscal year-ending December 31 , 2019. - Replace Enclosed are the following documents as required under section 211.23 of Regulation K: 1. Form FR Y-6 2. Report Item 1: Annual Report is attached. 3. Report Item 2: Corporate Organizational Chart 4. Report Item 3: Shareholders 5. Report Item 4: Insiders 6. Statement of Related Interest of Directors 7. Branch Data Verification Please let me know if you need additional information. David M. Penoli Director, EVP & CFO 520 E. Nolana Avenue * McAllen, TX 78504 Phone: (956) 984-2804 * Fax: (956) 984-2848 * 1-800-580-0322 www .lonestarnationalbank.com FR Y-6 0MB Number 7100-0297 Approval expires November 30, 2022 Page 1 of 2 Board of Governors of the Federal Reserve System Annual Report of Holding Companies-FR Y-6 Report at the close of business as of the end of fiscal year This Report is required by law: Section 5{c)(1)(A) of the Bank This report form is to be filed by all top-tier bank holding compa­ Holding Company Act (12 U.S.C. § 1844(c)(1 )(A)); sections 8(a) nies, top-tier savings and loan holding companies, and U.S. inter­ and 13(a) of the International Banking Act (12 U.S.C. §§ 3106(a) mediate holding companies organized under U.S. law, and by and 3108(a)); sections 11(a)(1), 25, and 25A of the Federal any foreign banking organization that does not meet the require­ Reserve Act (12 U.S.C. §§ 248(a)(1 ), 602, and 611 a); and sec­ ments of and is not treated as a qualifying foreign banking orga­ tions 113,165,312,618, and 809 of the Dodd-Frank Act (12 U.S.C. nization under Section 211.23 of Regulation K (12 C.F.R. § §§ 5361, 5365, 54 12, 1850a(c)(1), and 5468{b)(1)). Return to the 211.23). (See page one of the general instructions for more detail appropriate Federal Reserve Bank the original and the number of of who must file.) The Federal Reserve may not conduct or spon­ copies specified. sor, and an organization (or a person) is not required to respond to, an information collection unless it displays a currently valid 0MB control number. NOTE: The Annual Report of Holding Companies must be signed by Date of Report (top-tier holding company's fiscal year-end): one director of the top-tier holding company. This individual should also be a senior official of the top-tier holding company. In the event December 31, 2019 that the top-tier holding company does not have an individual who is Month / Day / Year a senior official and is also a director, the chairman of the board must N/A sign the report. If the holding company is an ESOP/ESOT formed as Reporter's Legal Entity Identifier (LEI) (20-Character LEI Code) a corporation or is an LLC, see the General Instructions for the authorized individual who must sign the report. Reporter's Name, Street, and Mailing Address 1, David M. Penoli Name of the Holding Company Director and Official Lone Star National Bancshares-Texas, Inc. EVP &CFO , Director Legal Title of Holding Company Title of the Holding Company Director and Official P.O.BOX 1127 attest that the Annual Report of Holding Companies (including (Mailing Address of the Holding Company) Street/ P.O. Box the supporting attachments) for this report date has been pre­ Pharr TX -------78577 pared in conformance with the instructions issued by the Federal City State Zip Code Reserve System and are true and correct to the best of my knowledge and belief. 520 East Nolana Avenue McAllen, Texas 78504 Physical Location (if different from mailing address) With respect to information regarding individuals contained in this report, the Reporter certifies that it has the authority to provide this Person to whom questions about this report should be directed: information to the Federal Reserve. The Reporter also certifies David M. Penoli -EVP---- & CFO- ------ that it has the authority, on behalf of each individual, to consent or Name Title object to public release of information regarding that individual. The Federal Reserve may assume, in the absence of a request for (956)984-2866 confidential treatment submitte ·n accordance with the Board's Area Code/ Phone Number/ Extension "Rules Regarding Availability I ormation," 12 C.F.R. Part 261, (956)661-4877 · that the Reporter "vid al c n ent to public release of all Area Code/ FAX Number details in the rep t i ividual. [email protected] E-mail Address www.lonestarnationalbank.com Address (URL) forthe Holding Company's web page Date of Signature For holding companies .aQ1registered with the SEC- Is confidential treatment requested forany portionof O=No Indicatestatus of Annual Reportto Shareholders: this reportsubmission? ......... .......................... }=YesO IBJ is included with the FR Y-6 report In accordancewith the General Instructions forthis report D will be sent under separate cover (check only one), D is not prepared 1. a letter justifying this request is being provided along with the report.. .. .. .... .. .. .. .. .... .. .. .. .. .. .. .... .... 0 For Federal Reserve Bank Use Only 2. a letter justifying this request has been provided separately ... 0 RSSDID NOTE: Informationfor which confidential treatmentis being requested C.I. must be provided separately and labeled as "confidential." Public reporting burden for this information collection is estimated to vary from 1.3 to 101 hours per response, with an average of 5.50 hours per response, including time to gather and i maintain data in the required form and to review instructions and complete the information collecton. Send comments regarding this burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden to: Secretary, Board of Governors of the Federal Reserve System, 20th and C Streets. NW, Washington, DC 20551, and to the Office of Management and Budget, Paperwork Reduction Project (7100-0297), Washington, DC 20503. 12/2019 Lone Star National Bancshares• Texas Inc. Consolidated Financial Statements and Independent Auditor' s Report Years Ended December 3 1, 2019 and 2018 II II SMITH FANKHAUSER VOIGT& W.ATSC>N, PUC INDEPENDENT AUDITOR•s REPORT To the Board of Directors and Audit Committee of Lone Star National Bancshares - Texas, Inc. and Subsidiaries We have audited the accompanying consolidated financial statements of Lone Star National Bancshares - Texas, Inc. and its subsidiaries (a Texas corporation) (the "Institution.,), which comprise the consolidated balance sheets as of December 31. 2019 and 2018, and the related statements of income, comprehensive income, changes in stockholders' equity, and cash flows for the years then ended, and the related notes to the consolidated financial statements. We also have audited Lone Star National Bancshares - Texas, Inc. 's internal control over financial reporting, including controls over the preparation of regulatory financial statements in accordance with the instructions for the Federal Financial Institutions Examination Council Instructions for Consolidated Reports of Condition and Income (call report), as of December 31, 2019 based on criteria established in the Internal Control - integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Management's Responsibility for the Financial Statements and Internal Control over Financial Reporting Lone Star National Bancshares - Texas, Inc. and its subsidiaries' management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation and maintenance of effective internal control over financial reporting relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. Management is also responsible for its assessment about the effectiveness of internal control over financial reporting, included in the accompanying Management Report Regarding Statement of Management's Responsibilities. Compliance with Designated laws and Regulations, and Management's Assessment ofInternal Control over Financial Reporting. Auditor's Responsibility Our responsibility is to express an opinion on these consolidated financial statements and an opinion on the Institution's internal control over financial reporting based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement and whether effective internal control over financial reporting was maintained in all material respects. An audit of consolidated financial statements involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Institution's preparation and fair presentation of the consolidated financial statements in order to design audit procedures that
Load more

Recommended publications
  • Report Annual
    ANNUAL 2 0 1 4 REPORT Lone Star National Bancshares-Texas, Inc. Our Mission Statement Lone Star National Bank will be the respected leader in financial services committed to building customer relationships and helping them succeed financially. With our Customers, Employees, Community and Shareholders, Lone Star National Bank stands by the following Pillars: Customers: Being a trusted financial advisor by providing superior customer service through an array of financial products. Employees: Providing a rewarding work environment with opportunities for career advancement and professional development. Community: Championing our communities with pride and integrity to promote growth. Shareholders: Creating a culture to operate efficiently and effectively to maximize shareholder value. Our Values which support our Pillars: ITY EGR INT H O N E S T N Y O I T A C I N U M RESPECT M O C T N E M IT A M C M O C C OU NT ABILITY We will continue to move forward in our commitment to impact those in the communities we serve. - S. David Deanda, Jr. President 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 56 Board of Directors 58 Advisory Directors 60 Bank Officers 62 Banking Centers, Mortgage & ATM Locations 64 Our History Letter to Our Shareholders, Both of the bank’s operating subsidiaries are experiencing positive earnings and increasing their book Customers and Friends of business. Our investment subsidiary has been recognized as one of the best performing investment divisions with LPL's banking divisions and we expect that to continue.
    [Show full text]
  • 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.
    [Show full text]
  • 2020-10-13-Finance-Packet.Pdf
    South Texas College Board of Trustees Finance, Audit, and Human Resources Committee Ann Richards Administration Building Board Room Pecan Campus, McAllen, Texas Tuesday, October 13, 2020 @ 5:30 p.m. Agenda “At anytime during the course of this meeting, the Board of Trustees may retire to Executive Session under Texas Government Code 551.071(2) to confer with its legal counsel on any subject matter on this agenda in which the duty of the attorney to the Board of Trustees under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with Chapter 551 of the Texas Government Code. Further, at anytime during the course of this meeting, the Board of Trustees may retire to Executive Session to deliberate on any subject slated for discussion at this meeting, as may be permitted under one or more of the exceptions to the Open Meetings Act set forth in Title 5, Subtitle A, Chapter 551, Subchapter D of the Texas Government Code.” I. Approval of September 8, 2020 Finance, Audit, and Human Resources Committee Minutes ............................................................................................. 1-12 II. Review and Action as Necessary on Award of Proposal, Rescind of Award, Purchases, and Renewals .................................................................... 13-36 III. Review and Recommend Action on Resolution 2021-002 for Adoption of Rules Relating to Electronic Bids or Proposals................................................. 37-41 IV. Review and Recommend Action on Financial Advisor and Continuing Disclosure Services .......................................................................................... 42-50 V. Discussion and Action as Necessary on Primary Bank Depository Services ............................................................................................................ 51-58 VI. Review and Recommend Action on Resolution 2021-001 Authorizing Investment Brokers, Dealers, Banks, and Investment Pools ...........................
    [Show full text]
  • Lone Star National Bancshares-Texas, Inc
    Lone Star National Bancshares-Texas, Inc. 09 AnnualReport B R I N G I N G T H E B A N K T O Y O U Our Mission Statement Lone Star National Bank will be the respected leader in financial services through flawless execution of quality sales, service, and support, and achieving extraordinary customer loyalty with timely delivery of value-added services to our stakeholders: Customers: Deliver value-added personal financial services Employees: Create an enthusiastic team by offering them rewarding career opportunities Community: Serve with pride and integrity, and help our communities grow, including low to moderate income neighborhoods and small businesses Shareholders: Remain a high performance bank with a high rate of return for shareholders Contents 4 Letter to Shareholders, Customers & Friends 7 Financial Highlights 8 Management’s Discussion and Analysis of Financial Conditions and Results of Operations 12 Management’s Report on Responsibility for Financial Reporting 13 Independent Auditor’s Report 42 Board of Directors 44 Advisory Directors 46 Bank Officers 48 Banking Centers, Mortgage & ATM Locations 49 Our History We are ‘Bringing the Bank to You’ through our bankers, our branches, the Internet, LSNB MobileTM and Office BankerTM. A. Jabier Rodriguez Chief Executive Officer Book Value Per Share ’06 $19 ’07 $23 ’08 $26 ’09 $28 Shareholders’ Equity Letter to Our Shareholders, (Dollars in Millions) Customers & Friends ’06 $106 ’07 $126 Dear Shareholders, Customers and Friends, ’08 $145 The economic contraction that brought about the longest lasting recession in the history of our nation ’09 $161 began in 2007 and persisted through most of 2009.
    [Show full text]
  • Lone Star National Bancshares-Texas, Inc. Annual Report 2015 Our Mission Statement
    Lone Star National Bancshares-Texas, Inc. Annual Report 2015 Our Mission Statement Lone Star National Bank will be the respected leader in financial services committed to building customer relationships and helping them succeed financially. With our Customers, Employees, Community and Shareholders, Lone Star National Bank stands by the following Pillars: Customers: Being a trusted financial advisor by providing superior customer service through an array of financial products. Employees: Providing a rewarding work environment with opportunities for career advancement and professional development. Community: Championing our communities with pride and integrity to promote growth. Shareholders: Creating a culture to operate efficiently and effectively to maximize shareholder value. Our Values which support our Pillars 4 Letter to Shareholders, Customers & Friends 8 Financial Highlights 9 Management’s Discussion and Analysis of Financial Conditions and Results of Operations 16 Management’s Report on Responsibility for Financial Reporting 17 Independent Auditor’s Report 56 Board of Directors 58 Advisory Directors 60 Bank Officers 62 Banking Centers, Mortgage & ATM Locations 64 Our History Our goal is to make the customer’s banking experience exceed their expectations. - S. David Deanda, Jr. President Letter to Our Shareholders, value to our company. We are focusing on loan growth and developing a large referral base of Customers and Friends customers. The bank has done well in that market as San Antonio has continued to have a strong and vibrant economy. We are making significant strides in developing new relationships and expanding our share of the market. Both of the bank operating subsidiaries have experienced substantial growth year over year and both have increased their book of business.
    [Show full text]
  • CRA Evaluation Charter No. 17611
    PUBLIC DISCLOSURE September 26, 2016 COMMUNITY REINVESTMENT ACT PERFORMANCE EVALUATION Lone Star National Bank Charter Number 17611 206 West Ferguson Pharr, TX 78577 Office of the Comptroller of the Currency 10001 Reunion Place, Suite 250 San Antonio, TX 78216-4133 NOTE: This document is an evaluation of this institution's record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and sound operation of the institution. This evaluation is not, and should not be construed as, an assessment of the financial condition of this institution. The rating assigned to this institution does not represent an analysis, conclusion, or opinion of the federal financial supervisory agency concerning the safety and soundness of this financial institution. Charter Number: 17611 Table of Contents OVERALL CRA RATING ....................................................................................................................... 1 DEFINITIONS AND COMMON ABBREVIATIONS ........................................................................... 2 DESCRIPTION OF INSTITUTION ........................................................................................................ 6 SCOPE OF THE EVALUATION ............................................................................................................ 8 FAIR LENDING OR OTHER ILLEGAL CREDIT PRACTICES REVIEW ...................................... 9 CONCLUSIONS WITH RESPECT TO PERFORMANCE TESTS................................................
    [Show full text]
  • Mexican Businessman Indicted for Alleged Money Laundering And
    UnIIad States Dlltrlct Court btbn District of TWI FILED UNITED STATES DISTRICT COURT MAY 2 2 2012 SOUTHERN DISTRICT OF TEXAS BROWNSVILLE DIVISION ~DI!Id J. Bradley, Clerk of Court UNITED STATES OF AMERICA § § w. § CRIMINAL NO. 8-12 - 435 ' § FERNANDO ALEJANDRO CANO-MARTINEZ INDICTMENT THE GRAND JURY CHARGES: At all times material to tbis Indictment: COUNT ONE [Conspiracy To Commit Money Laundering Title 18, United States Code, 1956(b)] A. Introduction 1. Beginning no later than January 1, 1998, and continuing to the present, there existed a large-scale criminal organization known as the "Gulf Cartel." The armed branch or 'muscle' of the Gulf Cartel was known as the "Zetas," or "Los Zetas," comprised in part of military deserters from the armed forces of Mexico. The headquarters of the Gulf Cartel was in Matamoros, Tamaulipas, Mexico, across the international border from the city of Brownsville, Texas. 2. The Gulf Cartel conducted numerous criminal activities, including, but not limited to: (a) the acquisition, possession, and distribution of large quantities of controlled substances, including marihuana and cocaine; (b) smuggling controlled substances to the United States; (c) extortions; (d) kidnappings; and (e) murders. 3. The primary destination market for controlled substances acquired by the Gulf Cartel was the United States. Cocaine and marihuana were distributed in the Southern and Western Districts ofTexas and elsewhere in the United States. Proceeds from the distribution ofcocaine and marihuana consisted of large amounts of United States currency, which were transported in the reverse direction, that is, from the United States to the State of Tamaulipas in Mexico.
    [Show full text]
  • Annual Report Lone Star National Bancshares-Texas, Inc
    11 ANNUAL REPORT LONE STAR NATIONAL BANCSHARES-TEXAS, INC. 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 7 Financial Highlights 8 Management’s Discussion and Analysis of Financial Conditions and Results of Operations 12 Management’s Report on Responsibility for Financial Reporting 13 Independent Auditor’s Report 50 Board of Directors 52 Advisory Directors 54 Bank Officers 56 Banking Centers, Mortgage & ATM Locations 57 Our History We deeply value our personal relationship with you. We will never take it for granted. A. Jabier Rodriguez Chief Executive Officer Leer to Our Shareholders, Customers and Friends The financial industry rebounded after dustry. The increased oversight includes four (4) of the most difficult years that increased levels of Equity Capital and the banking industry has ever experi- Allowance for Credit Losses to meet enced. We emerged much wiser and regulatory requirements. The capital committed to implement company-wide ratios required, for banks, have Enterprise Risk Management processes increased from 6% to a general range of in every decision that we make. Our 9.5%. The allowance from 1% to a focus is to keep Enterprise Risk at low- general range of 2.5%. These new levels to-moderate levels and Rewards at resulted in an increase of capital and moderate to high return levels.
    [Show full text]