San Antonio Spurs forward Harrison Barnes bought a small bank in his home state of Iowa, per an exclusive interview with Paul Davis for the Bank Slate.
That prompted this insightful reaction from Indiana Pacers star (and Barnes’ former Sacramento Kings teammate), Tyrese Haliburton.
Per Spotrac, Barnes has amassed career earnings of $224.1 million over his 13-year career. He’s been a savvy investor over the years, if his firm, Barnes and Co., is any indication.
“Barnes & Co. mission is to protect and develop the human, intellectual, financial and social capital of the Harrison & Brittany Barnes Family. The non-indexed portion of the firm’s holdings, are focused in financial services. Investments in a concentrated core of traditional financial institutions are complemented by select involvement in venture-backed B2B financial technologies.”
His core investments include the following:
Now Barnes is the owner of the Community State Bank in Paton, Iowa, per Coltrane Carlson of Raccoon Valley Radio, who spoke with Barnes about the purchase and his significant interest in banking.
“I think the biggest thing is that you have to be where your feet are,” Barnes said in part.
“When I’m focused on basketball and I’m in that lane, I’m 100 percent a basketball player. When I’m here trying to figure out how to best support and serve Community State Bank, I’m 100-percent in this lane, right? When I’m at home and I’m with my family, I’m 100-percent a husband and a father right? Like, I think every time that you step into a room, you step into a space, you are 100-percent where you’re feet are at, and that’s how I find the balance.”
Barnes also spoke with Khalil Garriott of the ABA Banking Journal last June about his interest as well.
“I saw community banks act as economic first responders during COVID,” Barnes said in part about what piqued his interest. “They proved to be the most effective way to distribute PPP loans and proved their value to their customers and communities.”
Barnes certainly has a post-NBA path carved out, and he’s already doing work on that in the present. That got Haliburton’s attention on Saturday.
