The February 2022 edition of the Texas Bank Report, published by the Texas Department of Banking, is now available on the department’s website. It includes September 30, 2021, financial data.
“Many observers anticipated tough times for the financial service industry in the early days of the pandemic; however, nearly two years later, this has not transpired as most state-chartered banks are doing well, and asset quality issues are limited,” writes Charles Cooper, commissioner of the Texas Department of Banking, in his introduction to the latest Report. “I commend Texas banks for their efforts in serving the needs of their customers in these unique times while protecting their health and the health of their employees.”
But Cooper also cautions about the hurdles that persevere, including a decline in net interest margins, succession planning, the exodus of tenured employees and cybercrime.
Positive news in the Report includes the fact that the Texas economy continues to rebound despite the emergence of the Omicron variant of COVID-19. December labor market data from the Texas Workforce Commission reports that the state’s unemployment rate was 5 percent, down from 5.4 percent at the beginning of the fourth quarter of 2021. Nearly every major industry group expanded at year’s end, led by the state’s energy sector, which comprises so much of Texas’ overall business activity.
Several other publications have also been updated this quarter, including:
- Agency Profile: An overview of the Texas Department of Banking and its regulated and licensed entities;
- Texas Banking Activity: Includes all state and national banking activity in Texas; and
- Top 100 Banks in Texas: A list of Texas banks by asset size.
