How I Built Two Banks to $1 Billion in Total Assets | Andy Schornack Interview

Andy Schornack is a CEO of Flagship Bank and a President of Security Bank and Trust Company.Flagship Bank - $324 million in total assetsSecurity Bank and Trust Co. - $713 million in total assets“I always wanted to be in a position where I’m running my own small medium sized company. I didn’t know it’d be a bank.”We discuss:— The story of how they have bought and built two banks from nothing to a Billion $$ in assets— What do bankers look for when giving loans to SMEs— Internet banking vs. traditional brick-and-mortar banks— How bankers think in different situationsShow Notes:00:00:00 - Where does Andy's ambition come from00:05:14 - What is the secret souce when it comes to building banks00:07:00 - Why people don't like bankers00:09:27 - Bankers are often behind the walls, why Andy builds in public00:13:22 - You'll be surprised who's watching you00:13:42 - Winter is coming00:15:40 - Why most fintech businesses suck00:19:40 - Banks Andy have bought00:21:06 - What small biz owners should know about bankers00:24:18 - How big is the acquisition opportunity of millennials to buy companies00:26:15 - The story of a shipping company with a debt of $1.3B00:31:00 - The story of a RE investor with $700 million in debt00:35:30 - The story of how a true professional creates and maintains relationships with his clients00:42:27 - What books Andy reads00:45:55 - Being relentless together with Jeff Bezos00:52:45 - How to become a CEO of a bank and what would Andy do when staring again todayFollow PrivatEquityGuy on Twitter: https://Twitter.com/PrivatEquityGuyJoin HoldCo Builders weekly newsletter on finding deals, raising capital, and growing small niche manufacturing businesses: https://privatequityguy.beehiiv.com/subscribeAndy on Twitter: https://twitter.com/SchornackThis podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.