Texas State Bank executivesвЂ”Vance Jones, left, executive vice president of financing at Texas State Bank, and Gary Cox, the bankвЂ™s president, state town bankвЂ™s proceeded lending success will be based upon regional 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 western 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 only community bank chartered in San Angelo, has enjoyed solid development in its financing company. Volume rose 7 per cent in 2014 and 10 % in 2013.
вЂњOne associated with positives of San Angelo is the fact that it offers perhaps not been a boom or environment that is bustвЂќ states Gary Cox, president of this $260 million-asset community bank. вЂњItвЂ™s always kind of steady.вЂќ
The variety regarding the community is reflected in Texas State BankвЂ™s loan profile: 41 per cent commercial or commercial real-estate, 30 % domestic mortgages, 20 % agricultural, 5 per cent construction and land development, and 4 % customer 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 want it does in a few other Texas communities. вЂњWhen oil costs had been high, the businesses drilling and acquiring leases had been tossing big money around,вЂќ he states.