January 5, 2024
DALLAS, TX – (January 3, 2024) – Vista Bank has launched a Financial Institutions Group for banks and credit unions led by two Texas financial industry veterans, Peter Stringer and Crystal Garcia.
Prior to his retirement, Stringer spent over two decades building the Financial Institutions Group at Texas Capital Bank into a $7 billion line of business. Vista Bank President & CEO John Steinmetz felt the pair had more to contribute to the banking industry and made a compelling offer to bring Stringer out of retirement. He was named Manager of Financial Institutions and recruited Garcia as a Client Associate. The division has seen early success with a competitive Financial Institution Money Market Account.
“We are very fortunate to have two incredibly talented and highly esteemed bankers leading this initiative,” said Steinmetz. “Peter and Crystal bring a proven track record, impeccable reputations, and a wealth of experience to our launch of this new line of business, which explains their early success.”
“Vista Bank’s strategic disciplined growth, strong leadership, capital support, and ownership are incredibly compelling,” stated Mr. Stringer. “I’m pleased to be back in the banking business and delighted to partner again with Ms. Garcia. She is well-respected statewide and has a proven history of delivering the first-class service our clients expect and deserve.”
Financial institutions that hold reserves above what their regulators require can loan those funds to other institutions. Vista’s Financial Institutions Money Market Account rate is tied to the Federal Reserve’s interest rate on excess reserves (IOER.)
“We are committed to providing a consistent, competitive product that allows clients to confidently manage their liquidity,” Stringer added. “Vista is a conservatively managed bank with strong capital ratios and, most important to today’s market, a substantial liquidity position.”
The new line of business is the third milestone in Vista’s recent growth. In April of last year, the Bank closed on the Charis Bank transaction, adding locations and clients in the Dallas and Justin, Texas region.
In June, Vista expanded outside of Texas for the first time in 111 years by opening an office in Palm Beach, Florida, and announcing seven strategic hires to grow the new footprint.