OCTOBER 15, 2004
DALLAS BUSINESS JOURNAL

Banking & Finance

Local bank playing well in Lakewood

Chad Eric Watt, Staff Writer

Professional Bank N.A., the new local bank in Dallas' Lakewood neighborhood, is moving in on $17 million in loans. That's ahead of where the bank planned to be in its 10th month. That progress has bank Chairman Jack Seifrick saying they could break even in 12 months -- very quick for a start-up bank.

Most of those loans are tied to real estate. The bank's chief lending officer Mark Smith came from Inwood National Bank, a much more mature operation that specialized in real estate lending.

Because of all those loans, Professional is working hard to get deposits and is pumping up the interest it pays on certificates of deposit to 2.5% -- among the tops in town.

The automated nature of modern banking makes moving money tough, but Professional is counting on Lakewood's community-minded residents to go local when they get the right prompting.

And Professional has plans in the works to stage a flower-focused farmers' market that would benefit charities in its parking lot some Saturday mornings.

cwatt@bizjournals.com