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Patrick Mahomes Becomes Shareholder in American State Bank

The Kansas City QB’s partnership with his first bank makes him its second-largest shareholder.

When he was 16 years old, Patrick Mahomes opened his first account with Texas-based American State Bank. As part of a partnership announced Thursday, the superstar quarterback will now be the company’s second-largest shareholder.

The 110-year-old institution is based in Texas, focusing on the Dallas-Forth Worth, Lubbock, Amarillo, and Plainview markets. But Mahomes’ investment allows ASB to accelerate its expansion plans and digital transformation, not only offering more services in Texas but to also evolve as a digital disruptor. ASB is sponsoring the Ring of Honor weekend at Mahomes’ alma mater, Texas Tech. The school will induct him into its Ring Of Honor and Hall of Fame during halftime on Saturday when the Red Raiders host rival Baylor.

“From my time at Texas Tech and throughout my career in Kansas City,” Mahomes said, “ASB has been a constant in my life and I’m proud to join the ownership group during its transformation into a major player.”

The Super Bowl-winning Kansas City Chiefs MVP was unanimously voted into Texas Tech’s Ring Of Honor as its eighth member. He’ll join former NFL stars Zach Thomas and Michael Crabtree an honoree. On Saturday, the Red Raiders will unveil Mahomes’ name on the West Stadium Building of Jones AT&T Stadium.  

“As a life-long Texan, to have the opportunity to team up with someone as inspirational as Patrick as we transform ASB from a local bank in our great state to a global bank of the future is a dream come true,” Brandon Steele, ASB’s chairman, said.

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About The Author
Shlomo Sprung
Shlomo Sprung
Shlomo Sprung is a Senior Staff Writer at Boardroom. He has more than a decade of experience in journalism, with past work appearing in Forbes, MLB.com, Awful Announcing, and The Sporting News. He graduated from the Columbia University Graduate School of Journalism in 2011, and his Twitter and Spotify addictions are well under control. Just ask him.