Vantage Bank taps new president to expand Houston footprint
San Antonio-based Vantage Bank has tapped Tray Mounce as its new Houston market co-president, a step forward in the bid to grow its market share there.
According to regional president George Cardenas, the plan was always to have two presidents in the Houston market. Cody Cannon, the first appointee, joined the bank in November 2022.
"It's such a large market that we felt that we needed a co-market president to cover all of Houston and other cities around it," Cardenas told the Business Journal in an email. Mounce and Cannon are market presidents for the bank's Galleria and Woodlands locations.
Mounce joined Vantage after most recently serving as senior vice president with Texas Capital Bank. His expertise includes trade financing and real estate acquisition and investment, among others.
With 2023 poised as a potentially fraught year due to climbing interest rates curbing demands for borrowing money, Vantage said it is setting its sights on small- and medium-sized commercial loans in addition to consumer and international banking customers. These strategies are similar those being employed by other San Antonio banks growing their Houston footprints.
"We saw a big opportunity that Houston is one of the larger metro areas in Texas," Cardenas said. "We always had an interest in Houston (...) to diversify our portfolio."
In November, Vantage President and CEO Jeff Sinnott noted he expects Houston to be the bank's biggest market.