The Community Bank That’s Powering One of the Fastest Growing Regions in America

Home to 1.3 million people, the Rio Grande Valley is an economic engine for South Texas and Mexico. From agriculture to healthcare services to wholesale shipping, its small business ecosystem is flourishing. And with its population expected to nearly double over the coming decades, the region is projected to have one of the fastest-growing economies in the United States.

Rio Bank is helping to drive that growth. With 16 branches in South Texas, the bank knows the area and the people who live there—94 percent of whom are Hispanic or Latino.

Community banks like Rio can provide the local expertise and cultural connections their customers want, leading to economic prosperity. JPMorgan Chase is helping to advance these banks’ missions through direct investments and ongoing support.

In 2021, JPMorgan Chase made a multimillion-dollar investment in Rio Bank as part of its $30 billion racial equity commitment. This support is part of the company’s  investment of over $100 million in 16 Black-, Hispanic- and Latino-owned and -led Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CDFIs) across the U.S.

Bruce DeWitt, Head of MDI Partnerships at JPMorgan Chase, says working with Rio Bank was an easy decision. “The firm was looking to invest in diverse-led institutions that are trusted in their community, have great leadership and play an important role in growing their local economy. Rio Bank does all of those things and more.”
 

Two years later, JPMorgan Chase continues to find new ways to support these institutions and help them grow. In addition to receiving direct equity investments, the company’s MDI and CDFI partners across the country:

• Become J.P. Morgan clients, connecting them to the company’s expertise, solutions and network
• Gain access to 15,000 Chase ATMs
• Receive custom training and advisory support
• Are able to participate in business opportunities, such as loan syndications, that help build capacity and diversify their portfolios

Helping Customers Succeed

Tatiana Bravo, who grew up in McAllen, Texas, and is now Executive Vice President of Customer Care & Sales at Rio Bank, has been able to see the impact of this partnership firsthand. “Through our partnership with JPMorgan Chase, we’ve been able to create additional opportunities to help our clients grow by expanding our reach, enhancing our product base and allowing the bank to focus on our customer success,” she says. In 2023, Rio Bank provided over 620 loans and led financial literacy workshops for more than 1,100 people across South Texas with support from JPMorgan Chase.

As the Valley continues to grow, Bravo and the Rio Bank team will continue to expand their services to help create a stronger, more inclusive economy.

“Rio Bank lives the mission of being a true community bank,” Bravo says. “Our bankers work with our customers as best as we can to ensure their success. As long as our customers are successful, we will be, too.” 

Learn more about how JPMorgan Chase is creating a stronger economy through meaningful local investments.