Taking It to the Bank
Watson Wheeling and Dealing
9/15/06
Amy Smith
Austin Chronicle
Copyright 2006
Former Mayor Kirk Watson, the likely successor to state Sen. Gonzalo Barrientos, can now add "banker" to his lengthy résumé. The Democratic nominee, Austin lawyer, and ex-Chamber of Commerce chair has teamed with another opportunistic sort – LCRA general manager Joe Beal – among others, to form Bastrop County Holdings Inc.
The Elgin-based bank will operate under the name of Frontier Bank of Texas on recently acquired land currently occupied by an old car dealership. Another leading founder of the holdings company, former comptroller John Sharp, has left the fledgling outfit, Watson said, adding that it was Sharp who recruited him to join the venture.
Other key investors include former LCRA board chair Steve Rivers and Elgin veterinarian Charles Graham.
Since filing its initial papers with the secretary of state's office in 2005, the company has recruited additional Bastrop-area investors, Watson said. "Our goal is to create a community-owned bank, where Central Texans get to directly invest in their bank."
Watson shrugged off any potential criticism that could grow out of his business relationship with the LCRA chief, particularly given the agency's penchant for pursuing controversial water/wastewater projects.
"This is not about politics," Watson said. "This is about creating a successful business in an underserved area."
© 2006 Austin Chronicle:www.austinchronicle.com
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9/15/06
Amy Smith
Austin Chronicle
Copyright 2006
Former Mayor Kirk Watson, the likely successor to state Sen. Gonzalo Barrientos, can now add "banker" to his lengthy résumé. The Democratic nominee, Austin lawyer, and ex-Chamber of Commerce chair has teamed with another opportunistic sort – LCRA general manager Joe Beal – among others, to form Bastrop County Holdings Inc.
The Elgin-based bank will operate under the name of Frontier Bank of Texas on recently acquired land currently occupied by an old car dealership. Another leading founder of the holdings company, former comptroller John Sharp, has left the fledgling outfit, Watson said, adding that it was Sharp who recruited him to join the venture.
Other key investors include former LCRA board chair Steve Rivers and Elgin veterinarian Charles Graham.
Since filing its initial papers with the secretary of state's office in 2005, the company has recruited additional Bastrop-area investors, Watson said. "Our goal is to create a community-owned bank, where Central Texans get to directly invest in their bank."
Watson shrugged off any potential criticism that could grow out of his business relationship with the LCRA chief, particularly given the agency's penchant for pursuing controversial water/wastewater projects.
"This is not about politics," Watson said. "This is about creating a successful business in an underserved area."
© 2006 Austin Chronicle:
To search TTC News Archives click
To view the Trans-Texas Corridor Blog click
posted by Porkus Maximus Tex: at Friday, September 15, 2006
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