Texas State Bank executivesвЂ”Vance Jones, left, executive vice president of lending at Texas State Bank, and Gary Cox, the bankвЂ™s president, state town bankвЂ™s proceeded lending success is dependent on neighborhood control and individual attention.
Diversity Plugs Oil Influence in West Texas
Variety helps maintain an economy healthier, and San Angelo, Texas, has it. The economy for the west Texas city is running on Goodfellow Air Force Base, Angelo State University, two hospitals that are major cotton agriculture together with 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. Amount rose 7 per cent in 2014 and 10 % in 2013.
вЂњOne associated with the positives of San Angelo is the fact that this has maybe perhaps not been a growth or bust environment,вЂќ states Gary Cox, president regarding the $260 million-asset community bank. вЂњItвЂ™s always kind of constant.вЂќ
The variety of this community is mirrored in Texas State BankвЂ™s loan profile: 41 per cent commercial or commercial property, 30 % domestic mortgages, 20 % agricultural, 5 % construction and land development, and 4 % consumer installment credit.
Oil isnвЂ™t always king
Cox records that the oil industry, while pouring money to the grouped community during happy times, will not hold sway in San Angelo enjoy it does in a few other Texas communities. вЂњWhen oil rates had been high, the businesses drilling and acquiring leases had been tossing lots of money around,вЂќ he states. Continue Reading