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The CEO and chairman of the board of the Texas Regional Bank in Harlingen has been elected to the Independent Bankers Association of Texas, or IBAT, which is the largest state community banking association in the country.
In a news release, the organization announced that Michael Scaief will serve as secretary-treasurer of the IBAT board of directors for 2023 through 2024.
He was elected during the association’s 49th annual convention in Frisco earlier this month.
Scaief is a Valley native who graduated from the University of Texas at Austin with a degree in economics.
He began his career in 1987 at First Valley Bank and worked his way up to senior vice president of managing lending and operations over the next 10 years.
Soon after, in 1998, Wells Fargo bought that bank and Scaief left to pursue other interests.
“In 2008, Scaief organized a group of Valley businessmen to explore establishing a new regional bank,” a news release stated. “In May of 2010, they purchased a South Texas bank, changed the name to Texas Regional Bank and began operating.”
Scaief also serves as chairman and president of the bank’s holding company, Texas State Bankshares, Inc.
He is also involved in numerous community organizations, including being past chairman of the Harlingen Industrial Foundation, the city of San Benito Board of Adjustments and Appeals and the San Benito Chamber of Commerce.
He has served as president of the San Benito Rotary Club and vice chairman of the Cameron County Regional Mobility Authority.
He’s also been an elder and session member of the First Presbyterian Church of San Benito.