Dallas-based American Bank opened a new branch in Frisco on August 7—the bank’s third location, joining the main office on West Northwest Hwy. in Dallas and its branch in Irving’s Valley Ranch neighborhood. Located at 3382 Preston Rd. in Frisco, the new branch will be managed by Stephanie San Miguel, who has almost 25 years of banking experience in management positions with community banks as well as regional and national banking institutions.
“Since being acquired by Bright Force Holding in 2019, we have grown from $55 million in assets to more than $400 million in assets by focusing on ‘boutique banking’ that delivers personalized service and innovative solutions for both business and consumer customers,” says Jeff Weaver, president and CEO.
“As one of the country’s fastest-growing community banks, it’s very appropriate for American Bank to bring our convenient and competitive style of banking to Frisco, one of the country’s fastest-growing communities,” adds Chirag “Chuck” Patel, chairman. “We’re locally owned and managed, which allows us to make faster loan decisions, avoiding the rigid policies and delays typically associated with larger banks.”
Established in 1974 as Pan American National Bank of Dallas, the bank’s name was changed to American Bank in 1987. It was acquired in 2019 by Bright Force Holding, an investment group based in Grapevine that is comprised of six prominent Asian-American business leaders: Chirag Patel, Daxesh Patel, Mehul Patel, Mital Patel, Sanjay Patel and Yogi Patel. These six investors are partners in NewcrestImage, a privately held investment firm that currently owns an extensive portfolio of diversified real estate and alternate assets, including approximately 70 hotels across 26 states.