San Antonio-based Broadway Bank is expanding business operations to a Preston Center office, 5 miles north of downtown Dallas.
The bank’s expansion to Dallas follows an increasing trend of corporate expansions and relocations to the business-friendly hub and incubator for innovation and growth.
Broadway Bank will begin with a three-person team focused on commercial real estate. CEO David Bohne expects the Dallas-area commercial real estate team to gradually grow to as many as ten members the following year.
Once the privately-held bank has positioned a foothold in the area, it plans to use its $5 billion in assets to start building branches.
“We’re not going to Dallas thinking we’re going to take on the big titans there,” Bohne said. “We are just going up there to get our share and try to establish a foothold there and continue to grow.”
Office leasing and construction in Dallas-Fort Worth is undergoing rapid growth and has topped pre-pandemic activity. This has the CEO confident about the opportunities the Texas real estate market will bring.
“There’s definitely going to be pockets in the U.S. that are going to have continued growth and then some pockets that will have retractions,” Bohne said. “I think the growth rate in Texas will slow, but it will still be growth nonetheless.”
The 81-year-old Broadway Bank was started in Alamo Heights in San Antonio by a military officer, Col. Charles Cheever Sr., and his wife, Elizabeth Cheever. They wanted to create a financial institution for military families migrating to the city.
Broadway Bank is listed as “Broadway National Bank” and as the 32nd largest bank in Texas based on total assets, according to data from the Texas Department of Banking. It has 31 locations in South Central and Central Texas.
