James D. Goudge

statement of condition

Broadway Bank ended 2014 with $3.2 billion in total assets, up $101 million in the fourth quarter and up $318 million vs. the start of the year. Asset growth is funded mostly by deposits, and our customers continue to entrust more of them to us. Deposits were up $73 million for the quarter and $197 million (+8%) for the year. Asset growth was also funded by increased short-term borrowings and from positive earnings added to stockholders’ equity. Total year-end equity of $344 million equates to a strong capital-to-assets ratio of 10.7%. Most of the deposit increase was channeled into new loans. Total loans increased by $44 million in the fourth quarter and were up $179 million (+15%) vs. the end of 2013.

It has been 74 years since Col. Charles E. Cheever Sr. and his wife Betty opened the first San Antonio bank outside of downtown in 1941, to serve the community of Alamo Heights and the military at Fort Sam Houston. Today, this bank serves many communities all across south central Texas, including Austin. The founders insisted on providing excellent value and service for customers, while always finding ways to give back to the community. In 2014, our employees volunteered 12,856 hours (at a dollar value of $289,902) with projects and purposes that make a difference in the communities where our 40 banking centers are located. As a strong, independent, family-owned bank, we remain committed to delivering the best banking experience and to building lasting customer relationships. If we continue to do this well, then—as Col. Cheever once remarked—“the numbers will take care of themselves.”

Sincerely,
James D. Goudge
Chairman and CEO

Source: 4Q14