Barbara Dugas-Patterson was selling vitamins in Austin when she decided to return to banking.<\/p>\n
The 64-year-old, who retired in 2022 after three decades in banking, was serving on the Fort Worth-based First Command Bank board of directors when she volunteered to lead the bank in an interim role in October.<\/p>\n
That choice led to a permanent position.<\/p>\n
\u201cI felt like it was a great use of my skills, and so it led to where I sit today,\u201d Dugas-Patterson said. \u201cI had no intention of coming back to work full time.\u201d<\/p>\n
By the end of the year, Dugas-Patterson was named First Command Bank\u2019s president and CEO.<\/p>\n
\u201cThey just won me over by their wonderful leadership and care for our clients,\u201d she said.<\/p>\n
Dugas-Patterson\u2019s experience \u2014 including senior roles at JPMorgan Chase and Citi \u2014 made her a strong fit for the bank leadership role, said Mark Steffe, CEO of First Command Financial Services Inc.\u00a0<\/p>\n
\u201cDuring her tenure as interim bank president, her steady leadership, sound judgment, and clear strategic focus demonstrated that she is exceptionally well suited to lead the bank into its next chapter,\u201d Steffe said in a statement.<\/p>\n
Dugas-Patterson, who grew up in Beaumont, said she is overseeing the bank\u2019s operations while providing strategic leadership for the institution\u2019s future.<\/p>\n
First Command Financial Services, the bank\u2019s parent company, has 181 offices nationwide that serve more than 300,000 military families, including those impacted by the partial government shutdown that began Friday.<\/p>\n
\u201cWe\u2019re at an inflection point in the bank where we can leverage current technology and lay a strong foundation where we can scale the bank, where we can reach more military families in the future,\u201d she said.<\/p>\n
About 75% of the bank\u2019s financial advisers are veterans or military spouses, which gives the bank insight into the challenges military families face as they seek financial security, she said.<\/p>\n
\u201cThe moving around, the cost to do so, all the stresses of being in the military,\u201d she said. \u201cWe want to help those men and women who serve and their families achieve financial stability and grow a legacy of financial wealth for their families.\u201d<\/p>\n
With proper planning, military families can achieve financial goals even in a tough economy, she said.<\/p>\n
\u201cAbout 70% of military families are feeling financial strain, not much different from many Americans that are going through it right now,\u201d Dugas-Patterson said.\u00a0<\/p>\n
During a government shutdown last year, First Command offered $6.8 million in pay advances to nearly 900 federal employees and military servicemembers. Another $5 million was donated to the Coast Guard Mutual Assistance relief society.<\/p>\n
Dugas-Patterson said about 10% of the bank\u2019s 8,000 clients took advantage of the payday advances.<\/p>\n
\u201cPlanning pays off when times are difficult,\u201d she said.<\/p>\n
Dugas-Patterson said she is working to make sure the institution is financially stable and efficient while expanding the bank\u2019s digital footprint to serve more military clients in the future.<\/p>\n
While Dugas-Patterson is focused on banking, the vitamin-injection business she and her husband started in Austin is taking a back seat as she gets to know Fort Worth better.<\/p>\n
\u201cWe\u2019re big on proactive health,\u201d she said. \u201cI had always wanted to be an entrepreneur to try it out, so we\u2019ve been doing that for a few years. \u2026 I have a passion for education, financial wellness and health wellness, as well.\u201d<\/p>\n
Eric E. Garcia is senior business reporter at the Fort Worth Report. Contact him at eric.garcia@fortworthreport.org<\/a>.\u00a0<\/p>\n