New CEO named at IBC Port Lavaca
IBC Bank-Port Lavaca has a new CEO.
On Monday, the bank announced that President and CEO Richard Bothe will be transitioning to a leadership role as chairman of the board of the bank's regional board and named Executive Vice President Derek Schmidt as the market's new CEO.
Bothe joined IBC Bank in early 1994 and, by the end of his first year, was named to lead the Port Lavaca market. He has made his mark on the community and the banking industry by serving in a number of organizations, including serving as president of Formosa Plastics Calhoun High School Scholarship Foundation, past president of the Rotary Club of Port Lavaca, and a member of Partners in Education Committee of Calhoun County. Thus far, Bothe's financial career has spanned more than 50 years.
"It is an honor to express my thanks to Richard for his 18 years of exceptional service to IBC and for his commitment to the Coastal Bend community as president and CEO of IBC Bank-Port Lavaca," said Dennis E. Nixon, IBC Bank president and CEO. "As Richard transitions to leading our local IBC bank board of directors, we welcome Derek Schmidt as the new CEO and are confident he will serve the needs of our customers in Port Lavaca, Bay City and Victoria with excellence."
Schmidt is a graduate of Tarleton State University and Southern Methodist University's Southwestern Graduate School of Banking. He joined IBC Bank earlier this year with more than 25 years of banking and financial experience. Schmidt is a member of the Rotary Club of Port Lavaca. He was drawn to IBC Bank because of its size and strength, according to the release, but likes the fact it offers the customer service of a community bank.
He anticipates growth for IBC Bank-Port Lavaca in the next two years because of the economic buildup in the area, including Formosa Point Comfort's expansion and the development of Excelerate Energy's floating liquefaction export facility, according to the release.