Founded in 2008, Texas Security Bank is a $1 billion institution that focuses on serving owner-managed businesses by elevating, educating, and leading.
Texas Security Bank's core value of exemplary customer service shines through with its Net Promoter Score of 88 when the banking benchmark average is 32. With offices in Garland, Dallas, Farmers Branch, and (soon-to-be) Southlake, Texas Security Bank proudly serves “Champions of Free Enterprise” across Dallas-Fort Worth.
A history of rapid growth
Texas Security Bank’s partnership with IntraFi® dates back many years. The bank originally began using IntraFi’s services to offer customers access to FDIC insurance for amounts greater than $250,000. When Texas Security Bank began to grow rapidly, its loan demand was increasing 15% to 20% while its deposit base was growing around 10% to 15%. To help fund its loan growth, the bank turned to the wholesale-funding market.
Texas Security Bank was quickly drawn to IntraFi’s funding solutions for a number of reasons. The bank was now able to obtain large amounts of funding at favorable rates while working with a company that ran business so seamlessly.
“One morning, I called IntraFi and requested a large amount. I was expecting IntraFi to take multiple days to fulfill the order and was blown away when we got the funding that afternoon,” said Ben Swinney, Texas Security Bank’s SVP and Treasurer.
Texas Security Bank’s interest rate sensitivity fluctuated from time to time and its managers realized they would need a range of funding options and terms. The bank was impressed with IntraFi’s ability to assist there as well.
“The flexibility of IntraFi’s variable priced funding options for 6 months, 12 months, and 18 months was huge for the bank,” Swinney explained.
A lasting partnership
Overall, Texas Security Bank has been thrilled with IntraFi’s terms, responsiveness, and customer service.
The bank even expanded its use of IntraFi's services to provide large-dollar customers access to millions in FDIC insurance on demand deposit accounts and savings accounts, while enabling Texas Security Bank to keep the full amount of those deposits in house.
The bank anticipates working with IntraFi for years to come given the strong partnership. “IntraFi is helping us achieve our mission to elevate the champions of free enterprise,” Swinney says.