The Bank Of San Antonio Plans New Corporate Headquarters

The Bank of San Antonio plans to build a corporate headquarters — in Castle Hills.

The fourth-largest locally based bank has disclosed it will construct a three-story, 57,000-square-foot office building at 1900 N.W. Loop 410, next to Pape-Dawson Engineers Inc.’s headquarters.

The Bank of San Antonio’s headquarters now is in leased space in the Forum Office Complex at 8000 Interstate 10 West in San Antonio. Its lease expires in June 2017.

“We’re taking this action because it’s a significant step in our growth and support for the San Antonio business community,” said J. Bruce Bugg, the bank’s chairman.

The building also will house related companies San Antonio Capital & Trust Co. and the Bank of San Antonio Insurance Co. The three companies combined employ just under 100 people, Bugg said.

Launched with $25 million in assets in June 2007, six months before the start of the Great Recession, the Bank of San Antonio’s assets are now about $500 million, Bugg said. It had about $337 million in loans and $392 million in deposits as of Sept. 30.

The bank posted net income of almost $2.9 million in the first nine months of last year, up from $2.1 million for the same period in 2013.

The bank was organized by a host of area power brokers, including: Robert Cavender, president of Cavender Auto Group; Gene Dawson Jr., president of Pape-Dawson; Steven Lee, president of real estate investment firm Lee Partners Inc.; and Bugg, a private investor.

The building will be owned by the bank through another company.

The building is expected to cost $10 million to construct. Metropolitan Contracting Co. Ltd. is the construction firm; Project Control is the project-management team; and Chesney-Morales Architects & Associates Inc. is the building architect.

Bexar County property records show Bank of San Antonio bought the 3.7-acre property on Northwest Loop 410 from a partnership affiliated with Pape-Dawson officials in the summer of 2013. The bank paid $1.65 million for the land, Bugg said.

The project still requires final approval from the bank’s board, which is slated to take up the matter Feb. 19, Bugg said. Construction is expected to start in March, with completion expected in May 2016 and move-in set for September 2016.Though the bank will be calling Castle Hills its home next year, there are no plans to change the name of the bank.

“You can be assured it will remain The Bank of San Antonio,” Bugg said.

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