Presented by: Dallas Business Journal
IBC Bank announced its expansion into North Texas with the opening of a commercial loan office in Irving.
The bank is a subsidiary of International Bancshares Corp. (Nasdaq: IBOC), headquartered in Laredo. It already boasts 164 locations in Texas, but is just now entering the Dallas-Fort Worth area after years of looking for the right opportunity.
“When talking about a great market like the Dallas market, you want to be a part of it,” said Bill Schonacher, president and CEO of IBC Oklahoma, which manages the bank’s business in and around Dallas. “We’ve been looking for the right opportunity to enter, and it just hasn’t happened. We decided to try with a loan office, and so far that’s been really successful.”
The area’s dynamic market and its flow of commerce clinched the decision to open an office here, Schonacher added.
“It also follows our strategy of being along the I-35 corridor,” Schonacher said. “Just a tremendous amount of opportunity is what we see there.”
The new office is located in Las Colinas in the Williams Square Central Tower. IBC moved into the space in July and occupies about 1,400 square feet. Sripathy Gunaratnam, IBC’s vice president of commercial lending, will head the opertion.
“It’s exciting to be part of this new phase in IBC’s growth,” Gunaratnam said in a news release. “I’m looking forward to being involved in the Dallas business community.”