On June 29, Corpus Christi-based American Bank announced that Stephen Raffaele will replace Richard Scanio as chief executive officer, effective at the end of this year. Raffaele currently serves as American Bank’s president and chief operating officer.
Raffaele’s experience includes more than 30 years in the financial services industry. He joined the bank in 2016 as executive vice president and was promoted to president and chief operating officer in 2017. Prior to joining American Bank, Raffaele served at several Texas financial institutions, including positions as president, chief financial officer, chief operations/operating officer, chief strategy officer and chief development officer. In addition to his CEO role, which becomes effective December 31, Raffaele will continue as president of the bank. He is a chartered financial analyst and received a BA degree in business from Baylor University.
Scanio has been with American Bank for 29 years and has served as CEO for the past two-and-a-half years. He will continue as vice chairman of the board and will remain actively engaged with customer relations, community engagement and business development.
The bank recently announced a five-year strategic plan designed to leverage its strength as a community bank and its reputation for solutions-oriented client relationships, as well as to define the path toward becoming a leading Texas regional bank by 2022.
Founded in 1970, American Bank operates 14 locations in the communities of Austin, Corpus Christi, Goliad, Houston, Port Aransas, Rockport and Victoria.
Published in Bankers Digest July 9, 2018