After more than 10 years in the Texas market, we are just as excited today as we were the day we launched about serving our clients and the community here. We’re steadily growing, and at the end of the third quarter 2023, average loan balances for the Texas region were $2.6 billion – an increase of 23% compared to the same period in 2022.
Our mindset remains the same as it has throughout our 110+ year history, and that is continuing our growth with a customer-first mindset. This year, that includes not only growing the bottom line, but also the Dallas team. We recently added an industry veteran in Todd Burns‡ as our market president, and we will continue to add new bankers, including a middle market team lead, to our almost 100 local associates.
Now let’s take a look at the insights and experiences from our leaders in Texas and how we are advising clients in today’s economic environment.
Be optimistic in the face of uncertainty
While facing inflation, elevated interest rates and other economic uncertainty, many business leaders and consumers alike can feel as though only doom and gloom are ahead. Todd Burns, UMB Dallas market president, believes the DFW business climate remains strong thanks to the diverse makeup of the local economy that is allowing it to continue to evolve and grow even with the headwinds of higher rates and slowdown in certain industries. UMB feels good about our prospects for growing with the local economy, and our clients have seen first-hand the power of our platform.
While the overall attitude among most DFW-area business owners is positive, that does not mean that business leaders don’t need to adjust to accommodate for slowing in some parts of the economy. UMB advises businesses to do the following three things to help position themselves for success despite the uncertainty of the economy:
- Evaluate credit needs and interest rate risk
- Increase payment automation
- Work with a financial partner that watches your blind spots
Adapt and prepare amidst ongoing challenges
It’s no secret that the past couple of years have been challenging for businesses and as a result, the DFW business landscape continues to evolve to keep up with these turbulent economic times. Jeff Strasner, UMB Bank commercial banking team lead in Texas, shares his thoughts on the most important items business leaders can discuss with their teams. These items include:
- Financial forecasting and modeling
- Cash and liquidity
- Business credit cards
Strasner also elaborates on UMB’s own unique approach and theme for 2024: growth. It may seem counterintuitive given the current state of the economy; However, as a 110-year-old-bank we’ve experienced many times of uncertainty and are prepared for all economic environments. In a time where many banks are putting projects or hiring on hold, we’re hitting the gas and building out teams that will allow us to offer even more services to our clients.
Learn from your personal journey and professional strengths
Eddie Broussard, president of UMB Bank’s Fort Worth region, details key approaches he has learned from his professional career in Fort Worth banking that he has brought with him to UMB to contribute to the bank’s overall growth. These powerful approaches include:
- Be aware of what brings you happiness in your career. Your career might not always go as you planned, but if you are enjoying what you are doing and it is allowing you to push yourself and grow, then you are doing perfectly fine.
- Understand nothing replaces hard work. Your professional and personal life aren’t always going to be a walk in the park, so it is important to have courage to keep moving forward and putting in your time and energy. Down the road you will see how your hard work and determination paid off, sometimes in ways you could have never imagined.
- Surround yourself with the right people. We must push ourselves to learn and grow in our own individual capacity. Yet, it’s paramount that we realize we can’t reach lofty goals or achieve significant success on our own. We must support, inspire and learn from one another, because if you do not have the right people surrounding you, then you will not reach the success you are after.
Stay involved in your community and build relationships
UMB’s incredible growth in the DFW market can be greatly contributed to our associates’ passion for the Texas community and build relationships on the ground. has donated funds to support several organizations in Texas communities, including Dallas-based organization Metrocare Dallas‡, BankWork$‡ (a CareerWork$‡ program), teh National Medal of Honor Museum, and the National Juneteenth Museum.
By being an active member of the community and cultivating strong relationships, UMB and its associates have built trust with fulfilled promises over time. Michael Garner, president of the Texas region at UMB Bank, stays involved with the community by working with Cristo Rey Fort Worth‡. Garner helps moderate- to low-income families support their tuition by working with corporate partners. He shares “I believe investing in our children’s futures will create adults who are excited to be active participants in their community, which ultimately builds a better future for us all.”
At UMB, we have been fortunate enough to have consistent growth in the Texas market even through uncertain economic times and this is all thanks to our customers who trust in the work we do. We are very excited to see what the next 10 years will hold for UMB, the DFW community and beyond.
Stay informed on industry trends and noteworthy company news by visiting our Industry News section on umb.com. Follow UMB on Facebook‡ and LinkedIn‡ to see regular updates about our company, people and timely financial perspectives.
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