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Our eleventh
year of business at Southwest Bank of Texas will be long remembered
by our shareholders, customers and staff alike.
The world
of banking is changing at breakneck speed. And with another
consecutive year of record growth and innovation behind us,
Southwest Bank of Texas has emerged definitively, not only
as a key participant in this rapidly evolving environment,
but also as a break-away innovator and leader.
This year’s
theme, “One Bank, Banking Ahead,” capsulizes this
breakaway leadership. And it is a bold statement that only
Southwest Bank of Texas can truly make. It articulates our
corporate culture, business mindset, and acknowledged position
as an innovative leader in exemplifying what successful banking
should be. It expresses the incremental value our customers
have come to expect from us. It reflects our engaged, proactive
involvement in the communities we serve. And it codifies our
vision of the boundless opportunities that are ahead.
Marking
the beginning of the new millennium, the year 2000 was, for
Southwest Bank of Texas, a period of substantial achievement,
growth and transition. Here are some highlights.
PERFORMANCE.
Our “star” shined brightly in 2000 as one of
the top-performing bank stocks in the country. Compounded
annual operating earnings per share (as originally reported)
have grown 23 percent over the last five years, a clear testament
to Southwest Bank of Texas’ strong performance.
ASSET
GROWTH. From $3.27 billion in 1999, to 2000’s close
of $3.94 billion … growth of approximately 20 percent.
OPERATING
INCOME. In 2000, rising 32 percent to $46.9 million …
with 2000 operating earnings per diluted share up 29 percent
to $1.39, an increase from $1.08 in 1999.
LEGAL
LOAN LIMIT. Up to $49 million from $40 million last year.
LOANS
OUTSTANDING. A 23 percent increase from the $2.04 billion
reported in December 1999 to $2.51 billion.
EXPANSION.
With the successful merger of the three subsidiary banks
of Citizens Bankers, Inc. into Southwest Bank of Texas, we
marked positive progress in our carefully planned expansion
strategy. The Citizens merger grants us a preferential presence
in the Baytown area of Houston’s east side. With the
merger comes Citizens’ strong deposit portfolio, and
substantial retail and middle-market business customer base.
TECHNOLOGY
LEADERSHIP. Southwest Bank of Texas continues to lead
with the launch of expanded versions of our proprietary, Internet-based
retail and commercial banking tools, NetST@RSM and
bank@home. (We were one of the first banks in the United States
to offer Internet-delivered e-statements.) Our commitment
to facilitating our customers’ growth and success through
the development and integration of e-commerce and e-financial
solutions is a hallmark of our “Banking Ahead” approach
to customer service.
RECOGNITION.
Southwest Bank of Texas is now included in the Standard
and Poors Small-Cap 600, in addition to our inclusion in 17
other key financial indices.
S O U T H W E S T B A N C O R P O R A T I O N
O F T E X A S , I N C
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