Gov. Abbott appoints Graham Savings CEO to Finance Commission of Texas

Gov. Abbott appoints Graham Savings CEO to Finance Commission of Texas News Staff Mon, 05/20/2024 - 2:52 pm

• (CONTRIBUTED PHOTO) Gov. Greg Abbott announced last week that among his four appointees to the Finance Commission of Texas was CEO of Graham Savings and Loan, Troy Lambden.

Leader Staff Report editor@grahamleader.com

Gov. Greg Abbott announced last week that among his four appointees to the Finance Commission of Texas was CEO of Graham Savings and Loan, Troy Lambden.

The commission serves as the governing body of the state’s banking, savings and loan and consumer credit agencies. The commission is composed of two state bank executives, one state savings executive, one consumer credit executive, one resident mortgage loan originator and six public members.

“Every other year the state legislature passes new laws and if those laws affect any of the three entities that the finance commission oversees, then the finance commission is charged with creating the regulations to enact the laws that the legislature passes. That’s certainly one of their charges and probably one of the bigger charges,” Lambden said.

Along with this responsibility the CEO said the commission oversees the Texas Department of Banking as well as the Texas Savings and Mortgage Lending department. Those departments provide reports to the commission monthly.

Abbott announced Lambden’s appointment Thursday, May 16 for a term which will expire Feb. 1, 2030. Lambden is also a member of the Texas Society of CPAs, Texas Bankers Association and Independent Bankers Association of Texas.

“There’s one person on the commission that is considered what they call a savings executive. In other words, they’re there to represent, in this case, state savings banks, as opposed to state banks,” Lambden said. “The individual that was going off contacted me and the person that preceded him contacted me and asked me to apply and so I did and got the appointment.”

The CEO is a graduate of Baylor University and is a licensed CPA. His career at Graham Savings began in 1984, serving at the controller. In October, he will celebrate his 40th year with the bank.

He announced Friday, April 26 that he would be stepping down as CEO effective Monday, July 1, but will remain with the bank as Senior Risk Officer.

He will remain on the bank’s board of directors and will continue his efforts to ensure the prosperity of the bank in his new role.

“Troy Lambden has endured and stayed the course through financial highs and lows, economic booms and busts, and kept Graham Savings a strong and steady institution,” Board Chairman Shannon Potts said in a release.

Along with Lambden, Abbott also appointed Kathleen Fields of San Antonio, David Osborn of El Paso and Miguel Romano of Austin to the commission.

“Whatever I can do to help our regulatory department, which is the Department of Savings and Mortgage Lending, I’m happy to do it,” Lambden said. “I think the part that a lot of individuals don’t realize is under this umbrella there’s a department that’s called the Commissioner of Consumer Credit and they cover a mountain of things. Any kind of credit that’s extended, whether it be pawnshops, payday loans, title company... they handle it.”

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