Spirit of Texas Bank is a community bank that focuses on customer care. It has 14 locations, including its newest location, serving Colleyville and Grapevine in the Dallas-Ft. Worth metroplex.
Community banks promote growth in the local economy by sponsoring small business loans, farming loans, and family loans. Where a large bank might have corporate offices in one state and offer services in another, a community bank has officers in the local branch to meet the requests of its clientele. Community banks are more likely to look at the person, their character, and their circumstances when a loan application is received, whereas larger banks often make lending decisions based primarily on credit scores.
Small businesses are the major source of employment, contributing 55 percent of all jobs to the workforce. Since 1990, big business has lost 4 million jobs while small businesses gained 8 million.
Community banks are small businesses themselves, so they understand the financial needs of the small business owner. Spirit of Texas Bank is invested in the community, offering small business loans to build the local economy and encourage growth and expansion.