Interviewed By Maryan Aiken
“One of the exciting challenges in commercial real estate is that it is constantly changing.”
jeff kirby. executive vice president. veritex community bank
Photography by Beth Stavinoha
Jeff Kirby
EVP, Senior Credit Officer II
University of Houston – 5/1983
Major Finance
Veritex Community Bank
8214 Westchester Drive, Suite 800, Dallas, TX 75225
972-349-6200
Company Established 2010
Number of employees 770
veritexbank.com
Social Media Handles @VeritexBank (Instagram) @VeritexBank (Facebook) @VeritexCommunityBank (LinkedIN)
ABOUT VERITEX COMMUNITY BANK
From day one, our goal was to build a bank that would be forever rooted in truth, transparency, and uncompromising integrity. With that as a foundation, we went to work building this dream we call Veritex Community Bank. One day, we looked up from the proverbial grindstone and found ourselves ranked among the 10 largest banks headquartered in Texas. This steady growth proves what we’ve been saying all along: If you work hard, remain truthful and treat people right, good things happen for all involved. For more than a decade now, we’ve been making good things happen for business and personal banking customers throughout Texas and beyond.
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ABOUT JEFF KIRBY
Jeff Kirby serves as the senior credit officer for Veritex Bank’s $4.3 billion Commercial Real Estate loan portfolio which includes Non-Owner-Occupied CRE and Construction Loans. His primary responsibility is to coordinate deals while maintaining credit quality. Considering the current CRE environment, his recent work has been focused on portfolio surveillance and protecting the bank from adverse grade classifications. By being proactive on loans through periodic reviews, this helps Veritex establish a framework for recognizing potential issues in advance, so they are able to deal with issues timely.
Photography by Beth Stavinoha
Q: What are the major challenges in the future of your industry?
The current major challenges include increasing interest rates and the lack of available capital for sales and refinance. As long as interest rates continue to rise, the increased risk of default is a consideration as most of the CRE loans were underwritten at much lower rates. Even with multi-family and industrial rental rates being well above what was underwritten, in most cases, this has not made up for the difference in net cash flow. The other clear challenge in the industry is office buildings. Leasing strategies are changing to smaller tenants and SF. It is difficult to find that large tenant to soak up the vacancy in the buildings. Office building owners are now building spec space for smaller tenants out of equity to generate the necessary leasing activity and save on tenant improvement costs in their lease offerings.
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Q: What are the key elements that your company offers?
For me personally, it has been support and flexibility. I have had a series of major orthopedic surgeries since 2019. During this time, human resources, the executive team, and my co-workers have provided me with guidance and support during my time away from the office. They have allowed me to work remotely and in a satellite office close to home to assist in my recovery and future well-being. This has been helpful for me and for my family.
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Q: What factors led to your biggest success?
Throughout my extensive experience spanning 43 years in the banking and commercial real estate sectors, I firmly believe that my success is attributed to my exceptional listening skills and effective communication with both colleagues and clients. Moreover, I make it a priority to always be accessible to my clients, particularly during urgent situations, ensuring prompt and efficient responses. Additionally, I recognize the significance of maintaining a positive attitude and fostering strong relationships with coworkers, as collaboration and teamwork are essential to achieving optimal results in any professional setting.
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Q: What do you like most about what you do?
Commercial Real Estate is the focal point of my professional passion. I find immense joy in the creative process of formulating deals and collaborating with lenders and clients to achieve favorable outcomes. Mentoring students and young professionals, helping them grasp the intricacies of the Commercial Real Estate industry from both a banking and business perspective, brings me great fulfillment. I am grateful for the connections and friendships fostered throughout my career at Veritex as well as my previous employers and organizations.
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Q: Have you won any awards?
I served as a board member of The Texas Chapter of Risk Management Association from 2014 – 2022 as was President 2020-2021. I was a recipient of the Chairman’s Award from Veritex in 2022.
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Q: What was the game changer for you that catapulted your leadership/business?
During my time at California National Bank in Southern California, I had the opportunity to work under the guidance of my boss, David Bretoi. Under his leadership, I was constantly pushed to take on more responsibility and develop my skills as a leader. Prior to this role, I had some experience managing people, but nothing compared to the level of responsibility I was entrusted with at the bank. Over nine years, I managed up to 30 individuals across various divisions. One of the most valuable lessons David taught me was the importance of open communication in achieving success. He emphasized that maintaining clear and transparent lines of communication were essential in both professional and personal relationships. Additionally, he demonstrated that while work should be taken seriously, there is always room for enjoyment and excitement. This mindset made the job more fulfilling and created a positive and enjoyable work environment for my employees. Since my time at California National Bank, I have strived to carry these lessons with me in all aspects of my life. By prioritizing open communication and fostering strong relationships, I have been able to establish and maintain successful connections in both business and personal spheres. Adopting a professional yet approachable tone has assisted me in building trust and rapport with others. Overall, my experience at California National Bank shaped me into the professional I am today. I am grateful for the mentorship of David Bretoi and the valuable lessons he imparted upon me.
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Q: Business secret you’re comfortable sharing with the world?
It is not a secret, and I am not entirely sure if it is all business-related. It may seem a little cheesy, but having a positive attitude and constantly wearing a smile has a significant impact on those around me. Visiting and communicating with people regularly is a habit I have developed as part of my business acumen. It is not just about attracting others with kindness; it also serves as inspiration to make people smile and engage with me. I enjoy bringing laughter and making people laugh, even if it means cracking the occasional dad joke. Creating a relaxed atmosphere for others is incredibly meaningful to me.
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With over 200 years of combined experience, the management team at Veritex Community Bank is uniquely qualified to help you with your banking needs. From the top down, our people are the best in the business. Our bankers have the discretion and flexibility to make on-the-spot decisions based on their experience and knowledge of your needs.
For questions about your Veritex account, debit card, or Online Banking please contact your local branch or call our customer support at 833-VERITEX (833-837-4839).
8214 Westchester Drive, Suite 800, Dallas, TX 75225
972-349-6200
Company Established 2010
Number of employees 770
veritexbank.com
Social Media Handles @VeritexBank (Instagram) @VeritexBank (Facebook) @VeritexCommunityBank (LinkedIN)
Q; How do you overcome burn out?
I have discovered the importance of establishing boundaries and disconnecting from work during nights, weekends, and vacations. In the past four years, I found myself constantly working outside of regular hours to keep up with the workload. However, it is important to note that Veritex does not encourage this behavior. They prioritize employees having a fulfilling life outside of work and have always been supportive of extracurricular activities and taking uninterrupted vacations. The excessive workload and self-imposed pressure took a toll on my health, which led me to realize the need for self-discipline. As a result, I now make a conscious effort to take regular vacations and disconnect from work as much as possible. I limit working during nights and weekends, allowing me to enjoy a healthier balance between personal and professional life.
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Q: What motivates you?
Perhaps the more pertinent question is who. I have had the privilege of being married to Karen, an incredible woman, for 43 years. Moreover, I am blessed with two exceptional sons who have found equally remarkable partners. The presence of my three grandchildren keeps me vibrant and active. Ensuring their well-being and affording them a comfortable life has always been my utmost drive. Both in my professional endeavors and personal relationships, I find immense fulfillment in engaging with individuals and cultivating lifelong friendships. Additionally, it is important to me that my contributions and achievements are recognized and respected.
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Q: What is your favorite aspect of being in your industry?
Every deal is unique in commercial real estate. While there are some techniques that can be applied to analyze a loan and property, there will always be distinctive characteristics that set each deal apart from others. One of the exciting challenges in commercial real estate is that it is constantly changing. Veritex, up until this year, had experienced great success in originating CRE deals. However, this year has been a different story due to rising interest rates, regulatory scrutiny, and limited availability of capital. This has required Veritex, as well as other financial institutions, to drastically change their business strategies. Fortunately, my 40 years of experience in Credit and Special Assets has allowed me to adapt to various situations.
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Q: What would you say are the top three skills needed to be a successful leader?
In my opinion, effective leadership entails several key components. Firstly, fostering an environment of open communication is crucial. Encouraging a two-way flow of information allows for collaboration and facilitates the exchange of ideas within a team. Secondly, possessing extensive knowledge and genuine passion for one's job is essential. A leader who is well-informed and enthusiastic about their work can provide valuable guidance and inspire their employees to achieve their best. Lastly, displaying care and concern for the well-being of your employees is paramount. Taking an interest in their personal and professional growth creates a positive work atmosphere and fosters loyalty and commitment. While there are certainly other traits that contribute to effective leadership, these three aspects hold particular significance to me. By embodying these qualities, leaders can empower their teams and drive success in any organization.
Photography by Beth Stavinoha
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