Frost Provides Specialized Financial Services for Nonprofits Exceeding $2 Billion
For bankers accustomed to the world of commercial customers, non-profit organizations can be a breed apart. After all, non-profits use different accounting standards, they raise capital differently, and for many, their net income is zero.
Frost recognized that a specialized team of bankers who understand the unique nature of non-profits could better serve organizations that serve the community. That’s why, back in 2004, Frost formed its Public Finance division, headed by Noel Byrne, to focus exclusively on not-for-profit and governmental entities. In the 12 years since, the Public Finance division has grown to 14 relationship managers and two sales managers statewide.
Frost’s work with not-for-profit organizations is significant. In 2016, total loan commitments for the team exceeded $2 billion, representing 10% of the bank’s total loan commitments while deposits have grown to over $745 million.
In North Texas, the Public Finance team is headed by Sales Manager Shirley Cox. Her team in Fort Worth includes Relationship Managers Jeff Salavarria, Austin Burns and Eryn Norris. Former Public Finance Sales Manager Hadley Woerner is now serving as Regional President for the Fort Worth region of Frost.
The North Texas Public Finance team works with clients in the arts and culture, education, faith, government, health care, housing and social services sectors. The Public Finance team understands the value that each of these sectors brings to the community and can provide specialized financial services including depository and treasury services, credit facilities, including operating lines of credits, capital campaign bridge lines, as well as short and long term solutions for capital expansion. And, for those qualifying, tax-exempt financing alternatives.
Helping those who help the community. Contact us if we can be of assistance with your efforts to better our community.