There’s no shortage of fast growing companies in the Austin area. To be ranked near the top of that list of companies is no small feat indeed. Frontier Bank of Texas was recently named a 2019 winner in the Fast 50 Awards presented by the Austin Business Journal. The awards recognize the Central Texas firms that have been most successful in dealing with extraordinary growth over a short period of time.
Since 2016, Frontier has multiplied its Central Texas footprint with the addition of banking centers in Manor, Leander and two in Austin. These new locations have joined existing brick-and-mortar facilities in Bastrop and Elgin to make Frontier one of the fastest growing community banks in Texas over the past three years. This rapid growth has occurred under the leadership of Frontier President and CEO Patrick Johnson.
“There are four critical components that have fueled the growth of our bank,” said Johnson. “Our customers, our staff, our stockholders and the unwavering leadership and support of our board of directors have contributed enormously to our growth.”
Johnson, who was also nominated as CEO of the Year in Central Texas, credits much of the bank’s success in handling the rapid growth to Board Chairman Senator Kirk Watson. Dealing with the challenges facing companies that are rapidly expanding requires a unique combination of vision and a steady hand.
“As a bank, we have the financial tools and the level of personal service that families and businesses are looking for,” said Watson. “At that point, growth is simply a function of taking our company culture and our way of doing business to more and more neighborhoods and communities,” he said.
The Fast 50 Awards scrutinizes companies headquartered in the Austin area that had net revenues of at least $500,000 in 2016. The financial information for each company is then verified by the accounting firm of Maxwell, Locke and Ritter. The winners are chosen from two categories, those with less than $10 million in annual revenues and those with more than $10 million in annual revenues. Frontier Bank ranked 17th among companies with annual revenues of more than $10 million.
Fast growing companies like Frontier Bank require more space, more capital and more staff to sustain rapid growth. Frontier has been successful in managing these challenges by hiring the right people in the right places and by staying focused on multiplying their footprint. The bank expects to continue the extraordinary growth trajectory of the past three years. With new locations already displaying strong growth metrics, Frontier is poised for further expansion in the months ahead.