Bruce Bugg and Texas Partners Bank aim to capitalize on booming Interstate 35 corridor
San Antonio banker J. Bruce Bugg Jr. sees big opportunities for growth on the horizon for The Bank of San Antonio and its affiliated banks.
Encouraged by the region’s explosive population growth, and propelled forward by the success of a recent business reorganization, the banks’ parent company recently raised $35 million by selling debt offerings.
That money will beef up the banks’ loan capacity, allow them to reach larger clients, and maybe even one day charter new banks in Boerne or the Interstate 35 corridor, Bugg said.
“It supports our organic growth,” said Bugg, chairman, CEO and president of Southwest Bancshares, the holding company for The Bank of San Antonio. He emphasized “organic” as a contrast to the mergers and acquisitions that often power other banks’ expansions, but which can prove complicating to operations.