Chambers Bank Expands to Dallas with New Office Opening
Danville’s Chambers Bank Expands to Dallas, Texas
Danville’s Chambers Bank is making a bold move to expand its operations beyond Arkansas by opening a new office in Dallas, Texas. This expansion marks the bank’s 24th full-service location and is expected to kick off this fall.
Mike Donnell, the president of Chambers Bank, expressed excitement about the upcoming Dallas office, stating, “We plan to get that going in the next 90 to 120 days. We’re looking to build core deposits and relationship banking.” The bank aims to start operations in leased quarters in the Love Field area of Dallas with plans for future expansion northward through the metro area.
To lead this new venture, J.J. Gomez, a seasoned banker with 34 years of experience in Texas, was hired as the Dallas market president. Gomez has previously worked with prominent banks in Texas and brings a wealth of knowledge to Chambers Bank.
While Chambers Bank has made loans in the Dallas-Fort Worth metroplex in the past, this new office will be its first full-service branch in the area. The bank has established lending relationships in the region over the years, with ties to Dallas Cowboys owner Jerry Jones, who is a shareholder in Chambers Bancshares.
The decision to enter the Dallas market comes after delays caused by the economic disruption of the coronavirus pandemic and concerns about interest rates. Chambers Bank is focused on growth and is actively seeking opportunities for expansion in Arkansas, Texas, and Missouri.
With a goal of reaching $2 billion in total assets by the end of 2030, Chambers Bank is strategically planning its growth while managing risks. The bank, led by the fourth generation of the Chambers family, has a rich history dating back to 1930 when the family entered the banking business.
Despite facing challenges in the past, including the real estate bubble burst in 2008, Chambers Bank has shown resilience and adaptability. The bank has learned valuable lessons from past experiences and has implemented more disciplined underwriting practices to ensure sustainable growth.
As Chambers Bank prepares to enter the Dallas market, it remains committed to its core values of hard work, prudent decision-making, and a focus on building lasting relationships with customers. The expansion to Dallas represents a significant milestone for the bank and sets the stage for continued success in the future.
