Guy Williams
Co-Founder, President and CEO
Gulf Coast Bank and Trust Company
Gulf Coast Bank and Trust Company is the largest locally-owned financial institution in the New Orleans metro area. The bank employs approximately 1,000 people across 27 states and lends nationally. It also has an international department that supports customers throughout Central and South America.
In addition to traditional banking, the bank offers private wealth management across the country, as well as full-service trust services with no 800 numbers. All trust management, accounting, servicing and investing is handled locally.
Gulf Coast Bank was also honored to be recognized this year as the best large employer in the metro area.
What are you most excited about in the coming year? I am most excited about our continual expansion into new ventures and projects.
While we are a major lender to the oil and gas industry, we will be opening our first off-the-grid branch in January 2025. The branch will be solar powered with battery backup and geo-thermal heating and cooling. This technology will allow us to work even if there is an interruption in local power supply.
If the efficiencies are cost effective, we expect to roll this technology out to our existing branches.
I am also excited about our expansion to Florida. We already have business lending, mortgage lending and wealth management in Florida but just opened our first full-service bank branch in Destin.
In addition, we recently acquired a purchase order company headquartered in Dallas. This acquisition will allow us to support customers who have large purchase orders but need cash to complete the manufacturing of their products.
What is the biggest challenge facing your industry today? The biggest challenge we face is local recruiting. As we expand, our workforce needs are expanding.
Many New Orleans residents have chosen to remain out of town when they move away for college, and it is sometimes difficult to persuade out-of-towners to move to New Orleans. Our decaying infrastructure, coupled with high insurance costs make this a tough sell.