On March 4, Texas National Bank, a $170 million bank headquartered in Sweetwater, announced the upcoming launch of Bankers Lender, a digital-first bank designed to serve the needs of individuals working in the banking industry.
“Bankers are no different from anyone else when it comes to consumer preferences,” says Mike Fernandez, president and CEO. “Everyone is looking for a low-cost and convenient way to transact, and when it comes to banking, bankers want to work with someone they can come to know and trust. At Texas National Bank, we have a long history of serving other bankers in our region, and we believe this market niche is perfectly suited to be served via a digital-first bank.”
Customers of Bankers Lender will be onboarded through a digital platform that will allow for application, approval and movement of funds entirely online. Fernandez and his team anticipate an April launch with initial customer offerings of:
- Unsecured revolving lines of credit;
- Unsecured closed-end loans;
- Secured revolving lines of credit;
- Secured closed-end loans; and
- Demand deposit accounts.
Bankers Lender plans to add additional products, features and services for bankers after the initial launch.
Texas National Bank chose digital expansion after consulting with Dave and Tanner Mayo of FedFis and Christopher Williston VI with the Independent Bankers Association of Texas (IBAT), the trio behind Bankers Helping Bankers, a bankers-only platform for collaboration and education.
“We initially reached out to Christopher at IBAT to discuss our idea of targeting bankers across the state of Texas,” Fernandez explains. “We didn’t think our existing technology stack was up to the task and we were at a loss for how to put our idea into motion. That’s when Chris told us about Bankers Helping Bankers and introduced us to Dave and Tanner. Without these guys and the platform they developed to help solve challenges like ours, I don’t think we would be taking this exciting step.”
“It’s incredibly important to our board of directors that Texas National Bank continues serving the needs of our markets long into the future,” Fernandez adds. “Bankers Lender provides an avenue for the bank to expand its customer base and uncover new loan opportunities. It also acts as a supplement to our traditional community banking model, which ultimately supports us in our commitment to our communities.”
Bankers Lender is currently accepting a limited number of beta testers for the April launch. If you are interested in participating in this group, or if you want to learn more about Bankers Lender, email Mike Fernandez.