A social media post claiming that the State Bank of Texas only helps Indians as its leadership team is full of Indias went viral at a time when India-hate has become mainstream for US social media users. “The State Bank of Texas, run entirely by an all-Indian leadership team, funnels SBA loans almost exclusively to fellow Indians who now monopolize a staggering 89% of all hotel properties in Texas. It seems like everyone is taking advantage of Americans on their own soil now,” the post said. The user also shared the details of the bank leadership showing that they are all Indians. The list included Chan Patel, Sushil Patel, Rajan Patel, Surekha Patel etc. The comment section of the viral post turned into an India hate space with people sharing their experiences at Indian-run businesses but many people also pointed out that it is a family-run business meant for hospitality lending and is not a state-funded bank. “Sit down. This man didn’t borrow the American Dream — he built it. While you tweet, he created jobs, paid taxes, financed businesses, and strengthened this country. America doesn’t need your permission. It rewards builders,” Indian American Advocacy Council founder Sidharth replied. “This is a family business and an American success story. Jealousy is dangerous and can get expensive,” another wrote. “It’s important to note that the State Bank of Texas is a family-owned and operated private banking institution founded in 1987 by Chan Patel, an Indian immigrant who came to the U.S. legally in 1965. It is the largest Indian-American-owned bank in the country, with the Patel family holding the ownership and leadership roles,” another user pointed out.
Who is Indian-origin Chan Patel?
According to the website of the State Bank of Texas, Chan Patel was born in Bombay, India in 1945. At the age of 20, he came to America with his parents’ life savings of $600 to study at Stanford University. In 1976, while working three jobs to support his family, Chan bought his first hotel, and gradually expanded his holdings to a total of 17 hotels. In 1987, he founded the State Bank of Texas.
