Sunstone Bank & Trust Launches To Provide Personal Banking To ALC Customers
American Lending Center (ALC) founder and CEO John Shen said the new initiative would provide added value to ALC clients with services ranging from customized deposit account solutions creating an opportunity to maximize FDIC coverage up to $200 million with secure digital banking. Personalized banking offers specific solutions for individuals, families and businesses including checking and money market accounts.
“With this unique platform, ALC is planning to serve the high-net-worth (HNW), ultra-high-net-worth (UHNW), and qualified business clients in its network,” Shen said. “ALC has partnered with TransPecos Banks to provide the banking services, and ALC will continue to work with its clients to assure the personalized attention for which American Lending Center has become known.”
On October 25 a launch party was held at American Lending Center’s headquarters in Irvine, attended by a VIP group of ALC clients and other officials. Patrick Kennedy, Chairman and Principal shareholder of TransPecos, and Dub Sutherland, its Vice Chairman, were on hand to announce Sunstone Bank & Trust.
“TransPecos Bank is pleased to partner with John Shen and his outstanding team at ALC/Sunstone Management and looks forward to providing high quality services to the select group of clients with these specialized needs.”
During the presentation, SB&T’s emphasis on personalized banking and easy money movement was highlighted. Customizable online and mobile banking will be offered, along with increased transaction limits. Money movement capabilities will include ACH origination, payroll processing, wire transfers, remote deposit capture and more.
In partnership with TrustCard (TruCard Holdings, Inc.), Sunstone Bank and Trust also will be offering a securities-backed credit card and line of credit product for its private banking clients.
The bank’s local advisory board consists of John Shen, founder and CEO of American Lending Center; John Keisler, CEO and Managing Partner at Sunstone Management; Lorna Gray, founder and President of Interface Education Services; and Hai Dang, a senior executive in real estate and financing. Two client representatives, both bilingual in English and Mandarin, are already onboard.
For more information, call (949) 279-2099 or visit sunstonebt.com.
About TransPecos Banks
TransPecos Banks, SSB is a Texas-based state savings bank with total assets of $748 million as of September 30, 2023. TransPecos is a 100-year-old community bank with corporate offices in San Antonio, Texas. The Bank and its affiliates are leaders in community development and business banking across the United States in specialized areas including government guaranteed lending, project finance, embedded finance using advanced technologies, and private banking. For more information, please visit transpecos.bank.
About American Lending Center: A Financial Times (FT) Americas’ Fastest Growing Company
American Lending Center (ALC) is a private nonbank lending institution and nationally recognized leader in small business lending. By the end of 2022, ALC has fully financed senior loan products to 83 qualified EB-5 projects in 19 states, contributing to a combined construction and business expansion budget of over 1.2 billion dollars. ALC’s lending practice has successfully created more than 13,000 new jobs nationwide since 2009.
In 2022, ALC launched its new rural construction and development fund with capital available for construction of fixed assets of all types in rural areas including manufacturing, energy, infrastructure, hospitality, specialty use, multi-use and other project types.
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