American Bank in Texas has new CEO

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American Bank in Austin, Texas, has a new leader.

The $1.4 billion-asset bank said in a press release Thursday that Stephen Raffaele became its CEO on Jan. 1. Raffaele succeeded Richard Scanio, who had been the bank's CEO since 2016.

The appointment was part of a transition plan announced last June.

Raffaele, who joined Amerian in 2016 as an executive vice president, will remain the bank's president. Scanio will continue as vice chairman and will be involved with client relations, community relations and business development

American "has a history as a leader in community banking, serving south and central Texas for over 47 years," Raffaele said in the release. "I am honored to have the opportunity to lead the bank and look forward to delivering on our commitment to serve the needs of our clients, employees and communities well into the future."

Last year, American announced a five-year strategic plan to help it become a leading Texas regional bank by 2022.

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