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 founded on neighborhood control and attention that is personal.

Diversity Plugs Oil Influence in West Texas

Variety assists in maintaining an economy healthy, and San Angelo, Texas, has it. The economy of this western Texas city is running on Goodfellow Air Force Base, Angelo State University, two major hospitals, cotton agriculture and also the 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. Amount rose 7 per cent in 2014 and 10 % in 2013.

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

The variety associated with community is mirrored in Texas State Bank’s loan profile: 41 % commercial or commercial property, 30 % domestic mortgages, 20 % agricultural, 5 % construction and land development, and 4 consumer installment credit that is percent.

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 want it does in certain other Texas communities. “When oil rates had been high, the businesses drilling and leases that are acquiring throwing a ton of cash around,” he claims. “As the oil market started warming up, we attempted to remind ourselves it wouldn’t final forever.”

Cox’s prediction ended up being correct. As oil rates have actually dropped in current months, task through the oil industry has declined. But Texas State Bank has had the slowdown in stride. “Our lending visibility related in to the oil industry is not tremendous, therefore we’re not losing sleep on it having a long-lasting effect on our model,” he claims.

In reality, a slowdown within the oil company comes with an upside for many of this grouped community bank’s customers—they may regain workers who was simply lured away by oil bucks. “We have actually lots of companies who’ll be happy to possess some vehicle drivers as well as other employees right straight straight back,” claims Vance Jones, the bank’s executive vice president of financing. “We can probably take in all those individuals back to the area economy.”

However, the slip in oil costs may impact loan company in 2015, Cox adds. He expects no significant development in amount when it comes to 12 months.

Successful community that is medical to your medical community ended up being one part of success for Texas State Bank in 2014. San Angelo houses Shannon infirmary and San Angelo Community infirmary, which together use significantly more than 3,000 people.

“The medical community likes the flexibleness a residential district bank can offer,” Cox claims. “We don’t have actually a novel of directions that has been manufactured in California or nyc or someplace that claims this is one way we try this sort of loan.”

Cox claims Texas State Bank’s proceeded success is founded on regional control and individual attention. The financial institution possesses full-service trust department that serves clients deemed too tiny by bigger banking institutions, as well as its financing division can pull the trigger quickly. “We understand we must include value with this solution, and response that is quick one method to do this,” Cox claims.



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