“He built IBC Bank in Cameron County from the ground up, starting with a single downtown location in 1983 with more employees than customers,” said Al Villarreal, who succeeded Rusteberg as the bank’s president and CEO. Making his way back to Brownsville, Rusteberg would eventually serve as IBC’s first president in its infancy as a new banking company in the Valley market. He went on to attend Texas A&M University and serve as an Army helicopter pilot during the Vietnam War years. A plaque on the main IBC building in Brownsville honors the contributions and memory of Fred W. Rusteberg’s mother, Jessie, drove the first school bus in Cameron County when she was only 16. His father, Fred Jr., was a founding trustee of Texas Southmost College. Born in 1946, he was the younger brother to four older sisters, growing up on a family tomato farm in Villa Nueva on the Military Highway. He was a leader with the capability and credibility to gather people together to pursue noble goals in his community. It’s one example of Rusteberg being “a convener,” Downing said. Rusteberg’s comments about the PUF fund set the stage, a forerunner to the UT System creating unified RGV campuses under one name with the sort of funding other campuses elsewhere had seen. “Fred would find the time – make the time – for the community on issues that may not happen today, but set the stage for what may happen in the future,” said Irv Downing, a banking executive colleague of Rusteberg’s era in Brownsville. He was ingrained in his community as a leader for many worthy causes, with education topping the list. Rusteberg often spoke at events featuring education in encouraging local students to attend college. In January, Garcia and other community leaders, friends and family gathered to remember and honor Rusteberg as the main IBC bank in Brownsville was named in his honor. It is just one story of the many about Rusteberg and the legacy and imprint he left on Brownsville. Two decades later, PUF funds are flowing into the Valley and its two UT campuses in Brownsville and Edinburg. Rusteberg’s comments that day infuriated Mark Yudof, the UT chancellor, but the bank executive and community leader had made his point. “He called it what it was, discrimination of the worst kind that had been allowed in perpetuity to hide behind lame excuses and legal technicalities.” “Fred chose that day in a very public arena to challenge the chancellor of the UT System,” Garcia said of the longstanding president and chief executive officer of IBC Bank-Brownsville. The UT campuses in the Valley had been shut out of the fund. The main UT campus in Austin had long benefited from these revenues, as had other UT campuses. This lucrative fund has as its revenue source the royalties of West Texas oil and gas wells. Garcia, Rusteberg and other community leaders were furious that the UT System was refusing to allow resources from the Permanent University Fund to reach and fund UTB and the University of Texas-Pan American. “There was a bitterness in the air,” recalled Juliet Garcia, the president of UTB at the time. It was to be a festive occasion in celebrating the dedication of new education and business buildings on the campus of UT-Brownsville. One of those times occurred about 20 years ago when the chancellor of the University of Texas System visited Brownsville. Rusteberg could also bring it, when need be, a steely resolve emerging when he saw an injustice or inequity that required a challenge. Rusteberg was known as a gentleman, a soft-spoken and persistent advocate for his banking company and community. Rusteberg, community and banking leader in Brownsville.įred W. Power is periodically surveying all our customers in regards to your satisfaction with IBC Bank's products, branch quality and services, ATMs and online/mobile banking services.A wall of honor at IBC-Brownsville lauds the legacy of Fred W. Power began to measure IBC Bank's customer satisfaction with the service quality provided across our branch network. The company offers a full suite of branch service tracking, customer relationship studies, and benchmarking. Power has captured and interpreted the voice of the customer across many industries for almost 50 years. Power, a global leader in consumer insights, data, analytics and advisory services that helps brands enhance and understand customer experience. IBC Bank is pleased to announce its new engagement with J.D. At IBC Bank we make banking convenient for our customers by offering late and weekend hours at many of our locations. We are currently at 187 facilities and 282 ATMs serving about 88 communities. Today, it serves as the flagship bank of International Bancshares Corporation. IBC Bank was founded in 1966 to meet the needs of small businesses in Laredo, Texas.
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