Herring Bank
“We provide a full range of quality financial products that include commercial, consumer, investment, and trust services in Texas, Oklahoma, and Colorado. Our board of directors, local leadership, and ownership are committed to exceeding customer expectations. Herring Bank’s mission is to help customers with their financial needs by developing “Relationships for a Lifetime” just as we have been doing for the past 120+ years.”
- website: https://www.herringbank.com/
Cannabis Banking Services
“Navigating the banking landscape for cannabis-related businesses (CRBs) can be daunting. That’s why having a dependable financial partner is essential. With customized products, services, and financial tools, we support the unique needs of your business, enabling you to thrive in this rapidly expanding industry.”
States Served:
- Nationwide
Official cannabis banking page: https://www.herringbank.com/business-banking/cannabis-banking/
Media coverage:
- Buffalo Business First: WNY’s first legal weed store is only weeks away from opening in downtown Buffalo
- Vancamp plans to rent nearby parking spaces for customers and open before the end of June. While he’s secured insurance and point-of-sale and payroll systems, and he has a pending product vendor contract, he will still need the Office of Cannabis Management to finalize his license. He also needs to finalize a banking plan, with Herring Bank in Texas — the only one he could find that would do business with a cannabis dispensary.
Bank Health Rating
DepositAccounts.com Rating: link
- DepositAccounts considers several health grade components:
- Texas Ratio (measuring bank credit risk);
- Texas Ratio trend;
- Deposit growth;
- Capitalization (difference between bank assets and liabilities).