Vista Bank announced today that the former Professional Bank Co-Founder and Chief Executive Officer, Dan Sheehan, has joined the company as the Bank’s President to lead its expansion into Florida and execute on other strategic initiatives.
Headquartered in Dallas, Texas, and consistently named one of the state’s top commercial banks, Vista is known as the “Entrepreneurs’ Bank” serving small and middle-market companies while offering a suite of private banking services to qualified clients.
“After 111 years of serving entrepreneurs and their families throughout Texas, we are thankful to have the opportunity to expand our footprint into Florida with a seasoned local professional like Dan Sheehan. Together, we will provide a concierge-level banking experience to small and middle-market companies and the bold entrepreneurs that risk their capital every day,” noted John D. Steinmetz, Vice-Chairman of Vista Bancshares and CEO of Vista Bank. “I’ve had the privilege of working with Dan on various initiatives over the years and have come to respect his leadership greatly. I am excited to leverage Dan’s experience to take Vista to the next level and am confident he will be a strong strategic addition to our team.”
“John has great vision and energy, and I’ve enjoyed our relationship over the years. He has a proven track record of responsible growth throughout Texas, and I look forward to helping the Bank expand into new, attractive markets across Florida, starting with Palm Beach County,” added Vista Bank Board Member and President Dan Sheehan. “John has created a unique culture with talented banking professionals, and I know Vista’s ‘People First’ culture will resonate well across Florida’s banking landscape. Vista’s strong financial position and strategic M&A interests in pro-business states like Florida will fuel our ability to scale the Bank and compete nationally.”
Co-founding Professional Bank in 2008, Dan Sheehan helped grow the Bank to $2.7 billion in assets by attracting and retaining top industry talent, executing four institutional capital raises, expanding into eight new growth markets, and capitalizing on strategic M&A opportunities. Subsequently, Dan led the IPO listing of Professional Bank’s stock on the NASDAQ Global Exchange in 2020.
Sheehan’s accomplishments over the last several years earned him the region’s top accolades, including South Florida Business Journal’s “Heavy Hitter in Commercial Real Estate Finance,” Daily Business Review’s ‘Top Dealmaker’ in Finance, South Florida CEO’s “Six Million Dollar Man,” South Florida Business Journal’s “Power Leader,” South Florida Business & Wealth’s “Apogee Award,” and Palm Beach Magazine’s “Palm Beach 100.”
Recently ranked #20 out of 610 banks between $1-5 billion in assets nationally by CB Resource, Inc., Vista Bank’s focus on core banking fundamentals, including capital, liquidity, strategic M&A, and attracting and retaining the strongest talent in the industry positioned the bank to capitalize on opportunities like the expansion.
Vista’s Entrepreneurs Banking Entrepreneurs approach, marked by bankers who share their client’s work ethic and sense of urgency, has grown the Bank’s asset size by over 545% in the last decade. Coming off the strongest financial year in the Bank’s 111-year history, Vista reported on its Q1 2023 call report, peer-leading balance sheet strength with 15.4% of total assets in cash and 20.9% in liquid assets, along with 14.24% Common Equity Tier 1 capitalization. Additionally, Vista’s Securities portfolio comprises only 6.89% of total assets.
With locations across Texas and a recent bank acquisition, Vista is approximately $1.8 billion in total assets. The Bank’s strong investor base and depository relationships provided the runway for the Florida expansion.
Vista’s office is located at 3835 PGA Boulevard, Suite 305, Palm Beach Gardens, FL 33410.
About Vista Bank
Best known as the Entrepreneurs’ Bank, Vista Bank serves markets across North, Central, West Texas, and Florida through its Banking Centers and emerging digital presence. With a private client offering, 199 team members, almost $2 billion in assets and a rich 111-year history of Entrepreneurs Banking Entrepreneurs, Vista offers innovative solutions to personal and commercial clients alike while never sacrificing its top priority – putting People First. Learn more about Vista Bank, consistently recognized regionally and nationally as a top-rated financial institution, leading commercial bank, best workplace, best leadership team, and best in customer service.
