The board of directors of Jacksonville-based Austin Bank announced a change in their corporate office at the November meeting. Jeff Austin Jr. has been elected senior chairman of the board and his son, Jeff Austin III, has been named chairman of the board. This transition continues the Austin family legacy of banking into the fourth generation. Both will continue to work from the bank’s corporate office in Jacksonville.
Austin Jr. served as chairman of the board since 1997, filling the role vacated upon his father’s death. Under his leadership, the bank grew from 22 locations with assets less than $500 million to 35 locations and assets in excess of $2.5 billion. While his role in active bank management will be scaled back, Austin Jr. will retain his roles as chairman of Austin Bancorp Inc., Capital Bank in Houston and First State Bank in Athens.
“Austin Bank today is the result of the hard work and dedication of its employees and those who have preceded them,” Austin Jr. says. “I have tremendous confidence that Jeff, Russ Gideon [president and CEO], the leadership team and our board will continue to maintain the high standards and outstanding performance of the bank.”
Austin III has served as vice chairman of the board of Austin Bank since 2000. He previously served as president and CEO of affiliate bank First State Bank, Frankston, which merged into Austin Bank in 2009. He currently serves on the board of directors for First State Bank in Athens and Capital Bank in Houston.
“I have been fortunate over the years to work with and learn from so many great bankers and leaders, including my father and grandfather,” Austin III says. “I look forward to continuing the growth and expansion of the bank while working with our board of directors, executive committee and staff to make decisions that will be in the best long-term interest of our customers, employees and shareholders.”
Established in 1900, Austin Bank offices are located in 35 East Texas locations within 25 cities and 13 counties. Austin Bank is locally owned and operated by the Austin Family who is celebrating 112 years of service in the Texas banking industry.
