American Bank Expands Offerings, Opens Second DFW Location And Provides New Tech-Forward Service Lines

DALLAS, March 9, 2021 /PRNewswire/ -- American Bank, a Dallas-based financial institution offering both personal and business banking services, commemorates their two-year anniversary under new ownership with milestone moments, opening a second location in the Valley Ranch area in Irving, tripling their assets and introducing a new range of online services. NewcrestImage, a privately-owned Grapevine-based real estate investment firm, purchased the boutique bank in 2019, bringing a focus on building a legacy of integrity and exceptional, hospitality-imbued experiences.

Established in 1974, American Bank has served the metroplex for almost four decades with one primary location in North Dallas. Following NewcrestImage's acquisition, the bank has tripled its assets from $55 million to $170 million, opened a second location in Valley Ranch, expanded its commercial lending capabilities and closed $50 million in commercial loans, and added SBA lending, including more than 300 Paycheck Protection Program loans. In addition, American Bank has doubled its legacy consumer lending business from $25 million to $50 million.

"These achievements are a testimony to the American Bank team's dedication to the vision established two years ago," said American Bank President and CEO Jeff Weaver. "We are focused on providing innovative services and a new standard of banking."

Committed to elevating the consumer and business banking experience, American Bank incorporated a series of tech-forward conveniences, including treasury management products, implementing cloud technology and the ability to open accounts securely online. The growing community bank further bolstered business banking capabilities with the addition of American Bank Business Finance, a skilled team offering accounts receivable financing services.

"During a year of unforeseen challenges, we are proud of our team and their accomplishments," said Chirag Patel, Chairman of the Board. "With our customized solutions and expansion of locations, we look forward to delivering personalized service to our clients and enriching our communities."

ABOUT AMERICAN BANK
Founded in 1974, American Bank is a financial institution based in Dallas, Texas with a new location in Irving's Valley Ranch neighborhood. Serving the Dallas-Fort Worth area for almost four decades, the bank was established to help individuals and businesses make thoughtful decisions about their financial future. With $170 million in assets, the boutique bank delivers personalized service and creative solutions across a full suite of business and consumer product lines. For more information, please visit https://www.abdallas.bank/

SOURCE American Bank

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https://www.abdallas.bank