Heritage, Volume 15, Number 2, Spring 1997 Page: 9
35 p. : ill. ; 28 cm.View a full description of this periodical.
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WHEN PRESIDENT fRANKLIN D. ROOSEVELT DECLARED A NATIONAL BANK HOLIDAY TO BEGIN RESURRECTING THE
NATION'S ECONOMY, ONLY 26 TEXAS BANKS FAILED TO REOPEN DUE TO QUESTIONS REGARDING THEIR SOUNDNESS.
ALTHOUGH RECOVERY WAS SLOW, CONfIDENCE DID RETURN.close of 1945, there were 434 national
banks and 409 state banks in Texas.
By the mid-1950s, the Depression that
caused the system to collapse was a memory.
Through regulation, banks were barred from
risky ventures and automation was changing
the industry. By today's standards, it
was still the Middle Ages: machines sorted
coins, but cash was still counted by hand.
Check processing machines soon entered
the picture and revolutionized the bank
business. Computers and automated check
processing gave banks the opportunity to
expand and provide a new array of services.
The landscape of the industry was constantly
changing as banks evolved to better
serve consumers, performing well through
the 1960s.
The 1980s ushered in a decade of deregulation,
burgeoning competition, autoMember FDIC
mated teller machines, and other electronic
advances, as well as an atmosphere of uncertainty.
Falling oil prices and sluggish
world energy demand, as well as decreased
land values, had a great impact on the
state's economy. When Texas fell on hard
times, so did its banking industry. The
decade brought more bank failures than
the Great Depression.
The emergence of a new Texas economy
has brought prosperity and wealth to Texas
banking. Texas bankers continue to strive
to meet the demands of the state's rapidly
changing economy and consumers' evolving
needs. An extremely healthy Texas
banking industry earned record profits in
1996.
While the actual number of banks across
the state has declined, the number of bank
branches has mushroomed. There are currently more than 3,750 bank branches across
the state. Banks have stretched into grocery
stores and other retail outlets to better
serve their customers, and Texans can conveniently
bank in person, by phone, or by
computer.
The bankers of Texas are prepared to
help the state move into the next century
and are continually seeking new financial
service products and more efficient delivery
methods to benefit consumers. Banks
truly are the lifeblood of Texas, helping
build, create, manufacture, and improve
the state. Texas bankers have helped the
state shine and plan to remain a vital force
in Texas future.Dawn Duplantier is the communications director
for the Texas Bankers Association.NACOGDOCHES.
Home of history. Home of Citizen's 1st Bank.
Texas' highest rated bank.During April, 1997, iisit our lobby exhibit on the life and times
of Texas' bet banr, East Txas'own
Fred F Florence, President of Republic Bank, Dallas.
$303 MILLION IN ASSETS. $47 MILLION N CAPITAL.
CitlnS 1st BANK
3010 Universty Dr. * Nacogdoches * 560-1401 l
Locations in Rusk, Tyler, Jacksonville LE"ER1
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Texas Historical Foundation. Heritage, Volume 15, Number 2, Spring 1997, periodical, Spring 1997; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth45402/m1/9/: accessed April 19, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Texas Historical Foundation.