Congratulations to American Bank’s Stephen C. Raffaele and Keystone Bank’s Jeff Wilkinson for being nominated as the top CEO in Central Texas in the Austin Business Journal’s 2022 “Best CEO Awards.” The Austin Business Journal hosts the annual awards to recognize chief executive officers in Central Texas who have a strong record of innovation and outstanding performance, and who also demonstrate difference-making leadership in the philanthropic, civic or political arenas.
Raffaele has served as Corpus Christi-based American Bank’s president and CEO since 2018. Over the past several years, American Bank has experienced tremendous success, tripling its growth rate relative to the five years prior to Raffaele joining the bank. In 2021, American Bank surpassed another milestone when it reached $2 billion in assets.
Last year, Raffaele led efforts to redesign and implement an updated five-year strategic plan for American Bank, which he originally initiated in 2017. In the past year, American Bank has expanded under Raffaele’s leadership. The bank purchased ACG Equipment Finance, an Austin-based specialty finance company, in late 2021. And in June 2022, the bank announced it was acquiring TexStar National Bank in San Antonio, which is set to close in early 2023. All this was accomplished despite significant challenges, including the COVID pandemic, extremely low interest rates and adverse economic conditions.
A 34-year banking industry veteran, Raffaele joined American Bank as senior executive vice president and chief operating officer in 2016 and was promoted to president and chief operating officer in 2017. He was named CEO and president in 2018. Prior to that, Raffaele held various C-level positions in several financial organizations, including F&M Bank & Trust Co. and Guaranty Bank, both in Dallas, as well as Sterling Bank in Houston.
Raffaele is a chartered financial analyst and is an active member of the CFA Institute. In addition, he currently serves on the board of the Texas Bankers Association. Raffaele has also been involved with many other charitable organizations, including the Art Museum of South Texas, Boy Scouts of America, American Cancer Society and the Salvation Army. He is a graduate of Baylor University, where he earned a B.A. degree in business.
According to the Austin Business Journal, “Wilkinson previously founded Pioneer Bank [in Dripping Springs] in 2007, growing its assets to $1.2 billion and expanding to 22 locations across Texas. The Austin Business Journal once ranked Pioneer Bank as one of the largest local banks headquartered in Austin. Wilkinson has led [Austin-based] Keystone Bank as chairman and CEO through rapid growth in four short years, achieving a 73 percent net revenue growth between 2019 and the end of 2020, a 38 percent increase from 2020 to 2021 and three successful capital raises.”
“With an entrepreneurial spirit and motivation to positively impact his community, Wilkinson launched the Banking on Community podcast recorded in Keystone Bank’s podcast studio in downtown Austin,” the Journal notes. “Highlighting Texas entrepreneurs, founders and leaders, their stories aim to inspire others to invest in their own communities.”
This year, Wilkinson supported the initiative to launch Keystone Bank’s service-minded council that focuses on volunteering, financial contributions and nurturing the community within the bank’s team. In addition, he is involved with multiple local nonprofit organizations, serving on the Austin Habitat for Humanity finance committee, the board of Trails Property Owners’ Association and the advisory board for Qualtik.
Established in 1970, American Bank has 13 Texas locations in Austin, San Antonio, Houston, Corpus Christi, Port Aransas, Rockport, Goliad and Victoria. Established in 2018, Keystone Bank operates three locations—two in Austin and one in Ballinger.
