Independent Banker

Independent Banker

Texas State Bank executives—Vance Jones, left, executive vice president of financing at Texas State Bank, and Gary Cox, the bank’s president, state town bank’s proceeded lending success is dependant on neighborhood control and attention that is personal.

Diversity Plugs Oil Influence in West Texas

Variety assists in maintaining an economy healthier, and San Angelo, Texas, has it. The economy for the west Texas city is run on Goodfellow Air Force Base, Angelo State University, two major hospitals, cotton agriculture as well as the oil industry. Thus it is not surprising that Texas State Bank, the community that is only chartered in San Angelo, has enjoyed solid development in its financing company. Volume rose 7 % in 2014 and 10 % in 2013.

“One of the positives of San Angelo is the fact that it offers perhaps perhaps perhaps not been a growth or environment that is bust” states Gary Cox, president associated with $260 million-asset community bank. “It’s always kind of constant.”

The variety of this community is mirrored in Texas State Bank’s loan profile: 41 per cent commercial or commercial property, 30 percent domestic mortgages, 20 % agricultural, 5 per cent construction and land development, and 4 % customer installment credit.

Oil isn’t always king

Cox records that the oil industry, while pouring money to the community during happy times, will not hold sway in San Angelo enjoy it does in certain other Texas communities. “When oil costs were high, the businesses drilling and leases that are acquiring tossing serious cash around,” he states. “As the oil market started warming up, we attempted to remind ourselves it would forever n’t last.”

Cox’s prediction was correct. As oil rates have actually fallen in present months, task through the oil industry has declined. But Texas State Bank has brought the slowdown in stride. Continue reading Independent Banker