Tuesday, March 2, 2021
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Broadway Bank History

The History of Broadway Bank

Since its beginnings in 1941 as San Antonio’s first suburban bank, Broadway Bank has always been a trendsetter, introducing innovative financial policies which help shape modern banking.

Today, Broadway is the largest independently owned bank headquartered in San Antonio. But it began in a small store front in Alamo Heights, founded by a military officer, Col. Charles E. Cheever, Sr., and his wife, Elizabeth Cheever. They envisioned a financial institution that would serve the hundreds of military families who were migrating to San Antonio because of the war effort, and the businesses which would serve those new residents.

The founders' son and Chairman Emeritus of Broadway Bancshares Inc., Charles E. Cheever, Jr., remembers the bank’s modest beginnings as "a very difficult period." After opening the bank, Col. Cheever was called away to Europe, where he spent the war years working as a Judge Advocate for Gen. George S. Patton. Mrs. Cheever, in her son’s words, was left "to hold things together" at home and at the bank, serving on the board of directors until her husband returned.

In succeeding decades, Broadway Bank set numerous "firsts." In 1959, it was the first San Antonio bank to establish a mortgage lending division, and it was the first to extend its banking hours to help working families.

In 1983, the bank was the city’s first to offer on-site brokerage services. Broadway’s successful Wealth Management Division was established in 1984. In 1996, Broadway Bank acquired Financial Centers in Fredericksburg, Kerrville, Boerne, Castroville, Hondo, and Seguin, Texas. In 2005, the bank acquired Balcones Bank, S.S.B. with Financial Centers in San Marcos, Wimberley, Kyle, and Buda. Today, the bank continues to progress northward with its latest additions in Bee Cave and Dripping Springs.

As Broadway Bank continues to maintain its commitment to providing traditional and innovative products and services, it will always strive to stay ahead by looking to the future, remembering the past, and concentrating on being here for the good of its customers.

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