With its eye on the Lone Star State, ViewPoint Financial provides retail and commercial banking through its ViewPoint Bank subsidiary. The thrift operates about 30 branches located mostly in the Dallas/Fort Worth area. ViewPoint offers standard deposit products such as checking and savings accounts and CDs, and uses deposit funds to originate primarily real estate loans: Residential mortages, commercial mortgages, and home equity loans account for about 90% of its lending portfolio. ViewPoint Mortgage, a subsidiary of ViewPoint Bank, operates a dozen loan production offices in Texas and Oklahoma. ViewPoint Financial converted from a mutual holding company to a stock holding company in 2010.
Formerly a credit union, the company became a bank in 2006 and has been transitioning itself into a diversified community-based institution. ViewPoint is increasingly writing commercial and industrial loans, which are often more lucrative than consumer loans, while keeping conservative underwriting practices. The company also provides warehouse purchase services to third-party mortgage banks, bringing it millions in added fee and interest revenues.
Meanwhile, the bank has also been expanding its mortgage operations geographically. In 2008, it took over the loan production offices of CTX Mortgage, the financing division of homebuilder Centex, allowing it to into new markets including Houston and San Antonio.
ViewPoint closed 10 limited-service banking locations in 2009 as part of its efforts to concentrate on full-service branches. Located in grocery stores such as Kroger and Albertsons, most of its limited-services branches were shut down when Albertsons shuttered several of its Texas stores that year. Since then, the bank has been phasing out its grocery store locations. The company has also been opening new full-service branches in its market. In 2012 it expanded in North Texas through the acquisition of Highlands Bank, which operated six branches in the Dallas area. – less