San Antonio-based Jefferson Bank announced Thursday changes in the bank’s executive leadership.
The family-owned bank said 13-year CEO Danny Butler will have his role expanded to president and CEO, replacing Paul McSween, who served as bank president for 13 years.
McSween has been named chairman of the board, only the fourth chairman in the bank’s 77-year history.
Steve Lewis is stepping down from the board chair role he has held for 17 years but will continue as a member of the board of directors. Lewis is the son of the bank’s first chairman and CEO, A.J. “Jack” Lewis.
The leadership change is being made as the bank acts on its succession plan for the top-level posts.
“This plan was put in place by our board five years ago,” Lewis stated. “I am very confident in the industry expertise and leadership qualities Paul brings to the chairman role, and I am excited to have Danny expand his responsibilities as president and CEO. Paul, Danny and I have worked very closely together for many years.”
Founded in 1946 as a community bank, Jefferson has grown into a regional banking institution with financial centers throughout San Antonio and in Boerne, New Braunfels and soon, Austin.
The bank began work on a new headquarters building at 1900 Broadway in November 2020. The cost of the project was estimated at $86.2 million, according to filings with the Texas Department of Licensing and Regulation.
When complete, the 13-story tower will house the bank’s executive team along with 250 Jefferson Bank employees working in a portion of the lobby and on four floors.
“We are growing but we will not lose sight of how we got here,” McSween stated. “We will stay true to who we are. Our reputation is everything.”
The bank has $2.8 billion in total assets, $1.3 billion in assets under management by its Trust division and $1.2 billion in assets under management by 1900 Wealth, its wealth management subsidiary.
“To be entrusted with management of over $5 billion of assets is a great responsibility that we take seriously,” Butler stated. “My goal is to build on the achievements of the past 77 years and guide the continued growth and expansion of Jefferson Bank throughout Texas.”
