Independent Banker

Texas State Bank executives—Vance Jones, left, fast payday loans Holland executive vice president of financing at Texas State Bank, and Gary Cox, the bank’s president, say the community bank’s continued lending success is dependant on neighborhood control and personal 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 major hospitals, cotton agriculture additionally the oil industry. Thus it is no real surprise that Texas State Bank, the only community bank chartered in San Angelo, has enjoyed solid development in its financing company. Amount rose 7 per cent in 2014 and ten percent in 2013.

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

The variety regarding the community is mirrored in Texas State Bank’s loan profile: 41 per cent commercial or commercial real-estate, 30 % domestic mortgages, 20 percent agricultural, 5 per cent construction and land development, and 4 consumer installment credit that is percent.

Oil isn’t always king

Cox notes that the oil industry, while pouring money to the grouped community during happy times, doesn’t hold sway in San Angelo enjoy it does in certain other Texas communities. “When oil costs had been high, the businesses drilling and leases that are acquiring tossing a ton of cash around,” he states. “As the oil market started warming up, we attempted to remind ourselves it wouldn’t final forever.”

Cox’s prediction was correct. As oil costs have actually fallen in current months, task through the oil industry has declined. But Texas State Bank has brought the slowdown in stride. “Our lending publicity related in to the oil industry is not tremendous, therefore we’re not losing sleep he says over it having a long-term impact on our model.

In fact, a slowdown when you look at the oil company comes with an upside for a few associated with community bank’s customers—they may regain workers who had previously been lured away by oil bucks. “We have a quantity of companies that will be happy to own some truck motorists as well as other workers straight straight back,” claims Vance Jones, the bank’s professional vice president of financing. “We can probably soak up all those people back to the neighborhood economy.”

However, the fall in oil costs may influence loan company in 2015, Cox adds. He expects no significant development in volume for the 12 months.

Successful medical community financing to your medical community had been one part of success for Texas State Bank in 2014. San Angelo hosts Shannon infirmary and San Angelo Community clinic, which together use a lot more than 3,000 individuals.

“The medical community likes the flexibleness a residential district bank can offer,” Cox claims. “We don’t have actually a novel of tips that has been manufactured in Ca or ny or someplace that states this is one way we repeat this types of loan.”

Cox states Texas State Bank’s continued success is founded on regional control and attention that is personal. The lender features a full-service trust department that serves clients deemed too little by bigger banks, and its particular financing division can pull the trigger quickly. “We understand we must add value with this solution, and response that is quick one method to do this,” Cox claims.

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