Independent Banker

Independent Banker

Texas State Bank executives—Vance Jones, left, executive vice president of lending 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 helps maintain an economy healthier, and San Angelo, Texas, has it. The economy of this western Texas city is powered by 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 lending company. Amount rose 7 per cent in 2014 and 10 % in 2013.

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

The variety associated with the 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 % customer installment credit.

Oil isn’t always king

Cox records 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 a few other Texas communities. “When oil prices had been high, the businesses drilling and acquiring leases had been tossing a ton of cash around,” he claims. Continue reading “Independent Banker”