jim w. collins
Vantage bank texas & rioco partners
In 2018, Vantage Bank merged with Inter National Bank, the banking institution your family founded in McAllen, Texas. As Chairman of the Board, can you tell us about your vision for the future of Vantage Bank?
In 1983, A group of business friends and families founded Inter National Bank to give private banking type services to Rio Grande Valley commercial businesses and to our Foreign National friends and customers of Northern Mexico. Then in 2006, Grupo Banorte purchased Inter National and became the new owner for the next ten years. The Collins Family Trust acquired the bank in 2016 and by 2018, Inter National Bank grew to approximately $1.5 billion in assets with locations in the Rio Grande Valley including McAllen, Brownsville, Laredo and El Paso.
In 2018, Vantage Bank and Inter National Bank came together under one family and employee ownership to continue this banking philosophy of services, targeting Texas related commercial banking relationships, and foreign nationals. Vantage Bank Texas’ culture, mission and vision is to serve our stakeholders and communities by offering banking services including loans, mortgages, currency exchange, depository accounts in an honorable manner. Our vision is to continue delivering these services in a private banking model offering advice and a personal and meaningful relationship. Today, Vantage has approximately $3.2 billion in assets.
What is one attribute or trait you think has benefited you the most in your career?
I believe the key to success lies in your work ethic. It’s important that work ethic includes family values and consistent follow up. This involves devoting the time, energy, and focus to reach a goal or successful conclusion. The goals, tasks, and efforts must be continually evaluated, updated and reevaluated as we go through life changes. Moral codes and personal values must be included with hard work.
One of TBHF’s core values is community. You are very active in the Rio Grande Valley community, working with organizations such as the Rio Grande Valley Business PAC, the Rio Grande Children’s Home, The Loring Cook Foundation, and the James W. Collins Family Foundation. In your experience, how does community leadership go hand in hand with business leadership?
Community is crucial to our family lives and our businesses because it shapes our future. I like the quote “a rising tide lifts all boats.” Achieving a grand vision takes a lot of teamwork, effort from all sectors, and a set of cultural values to make a strong and true community.
The Rio Grande Valley has a bright future. Our area is benefiting from the expanding higher educational options provided by community colleges and universities. In the last 10 plus years, enrollment in the University of Texas RGV, Texas A&M in McAllen, South Texas Community College, and other training programs have grown tremendously. Education will provide our community the future opportunities to enhance opportunity for our citizens, improve quality of life issues, and access to medical care. I believe that education is an equalizer for opportunities.
How do you define “excellence” in business?
Excellence in business occurs when all stakeholders achieve satisfaction and exceed expectations. Your stakeholders extend beyond just shareholders and owners; it also includes employees, teammates and associates; customers, and vendors or suppliers and the local communities you serve.
My philosophy is that consistent excellence year after year is rare and should be recognized and rewarded.
You’ve served on the Board of TBHF for over two decades. Is there a particular memory or experience that stands out in your mind?
Although I am now a Director Emeritus, I served on the Board for approximately 20 years. TBHF is special as it delivers on its mission. I have found the mission of TBHF to be short, sweet, and strikingly simple. TBHF honors and recognizes successful business leaders and entrepreneurs. It uses its funds for scholarships to promising students and business leaders. It is rare for an organization to deliver on its mission efficiently and effectively.