John Jay, President and CEO of The Roscoe State Bank, has been elected to serve as Secretary/Treasurer of the Independent Bankers Association of Texas (IBAT) for 2011-2012. Mr. Jay was chosen for the honor at the 37th Annual IBAT Convention recently held in San Antonio. Being elected to serve in this capacity on the Executive Committee of IBAT, he will begin a four year progression of leadership, which will culminate with John being named Chairman of the Association.
IBAT is a trade association representing more than 2,000 Texas community banks and branches, headquartered in Austin, Texas. Founded in 1974, the Association began with the premise âto promote the interests of independent banking in areas vital to independent bankingâ. It continues today as a pioneer providing products and services to its members as well as promoting interests important to community banks in Austin and Washington D.C.
Mr. Jay, a 1981 graduate of Texas A&M University, with a degree in Agricultural Economics, began his banking career with Texas American Bank (TAB) in Ft. Worth, as a credit analyst that same year. He continued his career with TAB rising to the position of Vice President in the Agriculture Lending Division until his departure in July 1990. John returned to his native West Texas after receiving a call from his father, Clyde Jay, then president of The Roscoe State Bank, requesting his assistance in running the Bank. Clyde handed over the reins to John and he was named President & CEO in August of 1990, with Clyde continuing to serve as Chairman of the Board. During this time, the Bank showed Total Assets of $31,112,380, Total Deposits of $26,978,264 and employed fifteen (15) full time employees.
In 1992, John, Clyde, Ron Stovall and Johnâs two brothers purchased the remaining outstanding shares from the minority stockholders. The Bank continued operating the one location in Roscoe until September 1996, when the Bank opened its first branch in Sweetwater. Looking to expand the Bankâs brand of banking, the Bank opened its second branch facility in Bastrop in June 2004. Under his leadership and guidance, the Bank has experienced steady growth in these two distinct markets. At the end of September 2011, the Bank showed Total Assets of $139,730,217, Total Deposits of $124,686,262 and employed thirty five (35) full time employees.
Mr. Jay recently completed a nine year term as a Director for the Sweetwater Enterprise For Economic Development (SEED) and served as President for three years. In addition, John currently serves on the Nolan County Foundation Board and has previously held Board positions on the Sweetwater Industrial Foundation, the Rolling Plains Technical Foundation and the Hendrick Medical Center Foundation. He has also served on the Board of Directors of IBAT from 2001-2007 and currently is in the second year of a three year term on the IBAT Services Board.