Kansas City Chiefs quarterback Patrick Mahomes has proven to be one of the NFL's most bankable talents. Now, he's taking his business interest to the banking industry.
The Super Bowl champion now is the second-largest shareholder in American State Bank. The bank, based in Tyler, Texas, did not disclose the size of Mahomes' investment or percentage of ownership.
Mahomes' relationship with the bank goes back to an account he opened when he was 16, according to a release. He said in the release that American State Bank has been "a constant in my life," through his collegiate days at Texas Tech University and his professional career in Kansas City.
Those ties will be celebrated this weekend, when Mahomes is inducted into the Texas Tech University Ring of Honor and Hall of Fame at halftime of the school's game against Baylor University. American State Bank is sponsoring the ceremony.
The 110-year-old bank is owned by holding company Steele Bancshares Inc., whose chairman is Brandon Steele. The partnership with Mahomes comes as American State Bank is working to expand. The bank has assets of $758.3 million and 170 employees as of June 30, according to the Federal Deposit Insurance Corp. It already has 13 branches and three loan production offices in Texas, which will be joined this year by another branch in Lubbock (the home of Texas Tech).
In announcing the partnership, the bank said it plans to expand in the Lubbock, Amarillo, Plainview and Dallas-Fort Worth markets. The bank also plans investments in its technology.
The investment in American State Bank isn't the first time Mahomes has reached back to his Texas roots for a business venture. After successfully lobbying Texas-based Whataburger to come to the Kansas City market, Mahomes invested in KMO Burger LLC, a franchisee that plans to open 30 Whataburger locations in the Kansas City area and stretching from Wichita to St. Joseph, Missouri.
Mahomes is an investor in the Kansas City Royals and Sporting Kansas City, and his wife, Brittany, is an owner of the Kansas City Current. Patrick Mahomes also has interests in Whoop and Hyperice, to go along with endorsement deals with brands including Adidas, State Farm Insurance and CommunityAmerica Credit Union. A sponsorship deal with Hy-Vee Inc. includes marketing of Mahomes Magic Crunch cereal.
Filings indicate efforts by American State Bank to raise money this summer. Steele West Texas Capital Corp. filed two Form D notices of exempt securities offerings with the Securites and Exchange Commission in recent months. The filings state that Steele West Texas Capital is engaged in commercial banking and led by Kelly Sanders, who is CEO of American State Bank.
A July 11 filing gave notice of an $83.1 million offering. It stated that $10 million had been raised from 15 investors as of the filing date. On Oct. 13, Steele West Texas Capital filed notice of a $38 million offering and stated that nearly $27.8 million had been raised from 95 investors as of the filing date.
KC's Highest-Paid Athletes (Chiefs, Royals and Sporting KC)
Ranked by 2022 total compensation
|Rank||Person||2022 total compensation|
|1||Mahomes, Patrick||$29.45 million|
|2||Jones, Chris||$22.37 million|
|3||Perez, Salvador||$18.00 million|
|View This List|
What did Reid say to Mahomes? ›
Her performance was the second-most watched halftime show of all-time, but nobody from the Chiefs saw it live, according to Patrick Mahomes. "Coach Reid told us, he said, 'If you go out to watch the performance, just keep walking, because you're not playing the rest of the game,'" Mahomes told Jimmy Kimmel.How much does Patrick Mahomes make from Oakley? ›
|Name||Patrick Mahomes Jr.|
|Salary||Approximately $45 million per year.|
|Endorsements||BioSteel, Adidas, Oakley, Head & Shoulders, State Farm, Bose, DirecTV, Essentia Water and Electronic Arts.|
|Endorsement Earnings||Approximately $7 million|
|Philanthropy||15 and the Mahomies Foundation|
The 110-year-old bank is owned by holding company Steele Bancshares Inc., whose chairman is Brandon Steele. The partnership with Mahomes comes as American State Bank is working to expand. The bank has assets of $758.3 million and 170 employees as of June 30, according to the Federal Deposit Insurance Corp.What is an interesting fact about Patrick Mahomes? ›
He was named the starter in 2018 after the Chiefs traded Smith to the Washington Redskins. That season, Mahomes threw for 5,097 yards, 50 touchdowns, and 12 interceptions. He became the only quarterback in history to throw for more than 5,000 yards in a single season in both college and in the NFL.What does Tom Brady think of Patrick Mahomes? ›
“I really respect Patrick for how we came out there in the second half and how pissed he was when he got taken out by Coach Reid, of course, you know, he had a word for you,” said Brady. “But to come out the second half and play great. You know, that was awesome to watch.”What did Mahomes say to Burrow after the game? ›
Hell of a game. You have a hell of a career, dawg," Mahomes said. "You too, brother," Burrow replied. "Go win it now.""Yes, sir," Mahomes said.In a post-game press conference, Burrow looked ahead to the team's off-season following the AFC title game loss.Who is the richest NFL player? ›
1. Roger Staubach: $600 Million. Staubach tops this list, but it comes with a caveat - his post-career earnings trounce what he made as the quarterback of the Dallas Cowboys in the 1970s.Who is the first NFL billionaire? ›
Jerome Johnson Richardson Sr.
|Born:||July 18, 1936 Spring Hope, North Carolina, U.S.|
|Height:||6 ft 3 in (1.91 m)|
In fact, the five largest NFL contracts ever were all given to players over the last few years. The biggest of the lot belongs to Patrick Mahomes, quarterback for the Kansas City Chiefs who signed a 10-year contract worth an eye-watering $450 million. Salaries are not the only way for NFL players to make their money.Is state bank owned by government? ›
State Bank of India (SBI) a Fortune 500 company, is an Indian Multinational, Public Sector Banking and Financial services statutory body headquartered in Mumbai.
Are there any government owned banks in the USA? ›
The Bank of North Dakota (BND) is a state-owned and state-run financial institution, based in Bismarck, North Dakota.Does the US have a state-owned bank? ›
The Bank of North Dakota (BND) is a state-owned, state-run financial institution based in Bismarck, North Dakota. It is the only government-owned general-service bank in the United States.How much money is Patrick Mahomes making a minute? ›
SportsCenter - $96 a minute 🤯 Patrick Mahomes is about to get PAID by The Kansas City Chiefs 💵 | Facebook.What is Patrick Mahomes salary right now? ›
Mahomes' contract is a 10-year, $450 million deal that includes $141.482 million in guarantees. His average annual salary is $45 million, and the contract contained a $10 million signing bonus.How rich is Pat Mahomes? ›
Mahomes was No. 2 at approximately $35.8 million.How many times has Mahomes beaten Brady? ›
Fans have witnessed six contests between Brady and Mahomes, and both have come away with three wins apiece.Is Tom Brady mentally tough? ›
Tom Brady is an expert, perhaps the best of all time, when it comes to demonstrating mental toughness to combat all kinds of challenges when it comes to being a winner inside the NFL gridiron, however, when it comes to dealing with mental health issues, the Tampa Bay Buccaneers quarterback, accepts that he needs ...Who is better Brady or Mahomes? ›
Mahomes leads the league in passing yards (3,265) while Brady is in fourth (2,805).What does the quarterback yell before the snap? ›
When watching NFL games, it's common to hear the quarterback say White 80 before the ball is snapped. This can often be mistaken by viewers as “180”. Quarterbacks yell white 80 as a cadence to tell the center when to snap the football. When he says white 80, it lets the offense know he is ready to start the play.Did Mahomes tell Burrow to win it all? ›
CINCINNATI (WXIX) - The NFL released footage Monday night of the midfield handshake between quarterbacks Joe Burrow and Patrick Mahomes after Sunday's AFC Championship Game. Burrow's message to Mahomes? “Go win it now.” Just prior, Mahomes tells Burrow he has “a hell of a career” in front of him.
What did Mahomes give his offensive line? ›
Patrick Mahomes, Chiefs
Chiefs quarterback Patrick Mahomes registered a hole-in-one by gifting the offensive linemen who protect him with TaylorMade golf clubs along with custom bags featuring their jersey numbers and a box of balls. Pretty solid move by @PatrickMahomes, gifting all of his guys new sets of sticks!
How much do NFL referees make? The NFL won't disclose how much money their referees make, but based on the expired collective bargaining agreement from 2019, officials made an average of $201,000 per year, according to Money.com.How much is Tom Brady's net worth? ›
When NFL legend Tom Brady left the field at the end of the final game of the 2022 season, he was the league's career leader in passing yards (89,214) and touchdowns (649). He also left with an estimated net worth of $512 million.How much is Tom Brady paid? ›
Tom Brady signed a 1 year, $15,000,000 contract with the Tampa Bay Buccaneers, including $15,000,000 guaranteed, and an average annual salary of $15,000,000. Contract Notes: 2022 Roster Bonus: $13.88M (fully guaranteed, treated as signing bonus) No-tag clause for 2023.
As of February 2023, Roger Staubach's net worth is $600 million, making him the richest NFL player in the world.Who was the first million dollar NFL player? ›
Along with being the oldest and longest-tenured owner in the NFL today, McCaskey is also one of 12 current female owners. Virginia Halas McCaskey is the matriarch of one of the most prominent ownership families in the history of American sports. On her 100th birthday, we celebrate a genuine football life.Who is the richest NFL player in 2022? ›
Using data from Spotrac.com, we tracked the highest-paid player at every position in 2022 by the average annual value of their contract. Aaron Rodgers is the highest-paid player in the NFL, making $50.3 million per year, but players across the field can make great money in the NFL.Are banks in China owned by state? ›
Most city commercial banks have strong ties to their local government and are majority or wholly state owned. Since 2005 some city commercial banks diversify their shareholders, inviting Chinese and international private companies to take minority shares, merging and cross-shareholding.Which bank is fully owned by the government? ›
Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the Government of India.
What bank owns government? ›
The Federal Reserve was created in 1913 by the Federal Reserve Act to serve as the nation's central bank. The Board of Governors in Washington, D.C., is an agency of the federal government and reports to and is directly accountable to the Congress.Who owns the majority of US Bank? ›
|The Vanguard Group, Inc.||7.37%||109,441,153|
|BlackRock Fund Advisors||4.48%||66,536,476|
|SSgA Funds Management, Inc.||3.96%||58,898,088|
|Berkshire Hathaway, Inc. (Investm...||3.54%||52,547,023|
State-owned banks play an important role in the financial system. They fulfill functions that are not performed by private banks, provide financing for projects that benefit the rest of the economy, and provide countercyclical lending (lending more when the economy is weak).Is State Bank a federal bank? ›
State banks are financial institutions chartered by a state to provide commercial banking services. Unlike the Federal Reserve, they are not responsible for monetary policy and are restricted to providing banking and, in some cases, wealth management and insurance services.How much does Aaron Rodgers make? ›
After an offseason in which he considered retiring or going to another team, Aaron Rodgers eventually decided to return to the Green Bay Packers in 2022, signing a whopping three-year, $150 million contract.How much does Tom Brady make from endorsements? ›
Beats by Dr. Dre, Ugg Boots, Under Armour, Tag Heuer, Movado, Aston Martin and Glaceau Smartwater have all featured Brady as part of various campaigns, and Forbes estimated in 2022 that Brady makes around $52 million in endorsement deals. He's also built on his TB12 lifestyle brand.What is Patrick Mahomes worth 2022? ›
27 to No. 10 just so they could select Mahomes. The move has paid off for both as Mahomes led the Chiefs to a seventh consecutive AFC West championship in 2022, and Celebrity Net Worth estimates Mahomes' net worth at $40 million.
How Patrick Mahomes makes his money: Adidas, Whoop and the Chiefs. Players with the Kansas City Chiefs will get an extra $157,000 (with some exceptions) after winning the Super Bowl over the Philadelphia Eagles on Sunday.What does Patrick Mahomes own? ›
And now he's co-owner of the KC Current. KANSAS CITY, Mo. (KCTV) - Add another accomplishment to the young phenom's resume.Is Mahomes the highest paid athlete? ›
1. Patrick Mahomes, Kansas City Chiefs (10 years, $450M)
What kind of vehicle does Patrick Mahomes drive? ›
(Updated: Dec. 2022) Patrick Mahomes is growing his car collection as he recently bought himself a brand new 2020 Ferrari 812 Superfast exotic supercar, a Lamborghini Urus SUV for his fiancé, and soon to be wife, and a brand new Genesis G70 luxury sedan that he won for winning last year's Super Bowl MVP Award.Did Andy Reid really say be the Grim Reaper? ›
Chiefs head coach Andy Reid was asked after the game what he told quarterback Patrick Mahomes about the “grim” situation that they faced. “When it's grim, be the Grim Reaper and go get it,” Reid said.What is Reid's secret? ›
And off goes the light bulb for Reid: His dirty little "secret" is that he enjoyed poisoning his fellow inmates. Their full conversation, including Cat's confession about her pregnancy, is played for Lindsey, who had no idea Cat was with child and surrenders herself -- and Diana -- to the BAU.What did Mahomes do in 13 seconds? ›
Mahomes was offered 13 seconds. Thirteen seconds. He completed one pass to wide receiver Tyreek Hill for 19 yards. And then another to tight end Travis Kelce for 25 more.What did Andy Reid say about Tyreek Hill? ›
“Nobody's happier for Tyreek than I am,” Reid said. “He made a lot of money and he gained a lot of yards. He had a great year, Pro Bowl player, All-Pro player, but on the other hand I'm proud of our guys for the job they've done.Why did Andy Reid leave in an ambulance? ›
CBS Sports NFL Insider Jason La Canfora said the move was precautionary. Reid wasn't feeling great and was dehydrated, but there was no serious medical concern regarding the head coach. "Coach is doing well," the Chiefs said later in the night, "currently resting and in stable condition."What is the Grim Reaper paradox? ›
the Grim Reaper paradox
A philosophical problem related to Benardete's paradox, but involving countably many Grim Reapers, each of which will kill the person in question at a certain time (if still alive), taking a certain period of time to do it.
In Greek mythology, Chronos, called Father Time, was the king of titans and the father of Zeus. Cronus was a harvest god and carried a sickle, which is a tool used in harvesting grain. The Grim Reaper carrying a scythe is derived from a combination of Chronus and Cronus.Is Cat pregnant with Spencer's baby? ›
Thankfully, that soapy twist is not true, but Cat is pregnant -- with the baby of a guard who worked both her and Reid's prisons.Why is Reid not in protective custody? ›
Denied bail for being deemed a possible flight risk, Reid is sent to a correctional facility in the general population for holding instead of in protective custody in the overcrowded jail.
Who did Reid end up with? ›
Matthew Gray Gubler's Reid ran into Max while she was with her nephew. Though they had a series of awkward encounters right off the bat, he eventually won her over with his classic Reid charm. I mean, how cute was he when he picked her up and ran with her through the sprinklers? Our hearts can't take it!What Mahomes throws farthest? ›
During his Pro Day with Texas Tech leading up to the 2017 NFL Draft, Mahomes actually threw the ball 80 yards on a dime.What is the farthest Patrick Mahomes has thrown a football? ›
Longest NFL pass
Similarly Patrick Mahomes can lay claim to having one of the strongest arms in the NFL with the current Kansas City Chiefs quarterback throwing the ball 80 yards during his Pro Day with Texas Tech.
SportsCenter - $96 a minute 🤯 Patrick Mahomes is about to get PAID by The Kansas City Chiefs 💵 | Facebook.What is Andy Reid's current salary? ›
Andy Reid, Kansas City Chiefs, $8 million per year
He also won AP Coach of the Year back in his fourth season with the Philadelphia Eagles in 2002. Now, he's a two-time Super Bowl champ, after winning again in 2023. He deserves a raise.
Hill wanted respect more than anything, he said via Pro Football Talk, and his contract paired with the team's plan for his abilities made him want to leave the Chiefs.Who is the fastest man on the Chiefs? ›
If you're worried about how the Kansas City Chiefs offense will stretch the field in 2021 without Tyreek Hill, look no further than WR Marquez Valdes-Scantling.