Pioneer Bank continues to grow in Austin; Adds C&I Lender

AUSTIN, Texas, March 3, 2015 /PRNewswire/ -- Pioneer Bank announced an increased focus on Austin's growing need for Commercial and Industrial Lending (C&I) by adding Kevin Kleinsteuber, Senior Vice President.  He will be responsible for the expansion of the Bank's C&I lending portfolio in Austin and throughout Central Texas.

Commercial and Industrial (C&I) loans are secured by collateral other than real estate and can be used for a variety of business purposes from working capital to inventory financing and investments in equipment.  "The need is here" said Brian May, Senior Vice President of Pioneer's Austin branch located at 3720 Jefferson Street. "We talk to businesses every day that would benefit from an experienced C&I lender like Kevin."

Kevin Kleinsteuber has over 25 years of banking experience with 15 spent exclusively in C&I lending.  During his time as a C&I lender, Kleinsteuber has helped businesses in every industry, from technology to retail, with revenues from $10 million to $100 million. A graduate of University of Texas Pan American, he has made Austin his home for the past 11 years.  He spends his free time with his friends and family, playing golf and riding his motorcycle.

Since opening in 2011, the Austin branch of the Dripping Springs based bank has grown to $85.3 million in assets.  "Our growth in Austin has been strong; 96% loan growth from 2013 to 2014," added Jeff Wilkinson, President and CEO of Pioneer Bank. "The next phase of our growth is to expand our product line and enhance our C&I lending capabilities. That's why we brought in Kevin who can instantly leverage his experience into positive results for our customers."

About Pioneer Bank:

Pioneer Bank, SSB is a Texas state savings bank with headquarters in Dripping Springs, Texas, and branch offices in Austin, Kerrville, San Marcos, La Grange and Weimar.  As of February 28, 2015, Pioneer bank reported total assets of $383.6 million, total loans of $278.7 million, and total deposits of $340.8 million.

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SOURCE Pioneer Bank