East Texas the new Wall Street? - KLTV.com - Tyler, Longview, Jacksonville |ETX News

East Texas the new Wall Street?

By Layron Livingston - bio | email
Posted by Ellen Krafve - bio | email

TYLER, TX (KLTV) - Whether you're in north, south, east, or west Tyler, it's hard not to notice the banks on almost every corner-sometimes three to a corner. And, where there isn't a bank, just be patient.

"The fact that [banks] are growing here is a pretty good indicator that we're still hanging in there with a pretty competitive economy," said Tom Mullins, with the Tyler Economic Development Council.  "The banking services sector will not expand if the economy in the area is not doing well enough to support that expansion."

Expansion may be an understatement. Since January 2008, a dozen building permits have been issued for bank projects, mostly new branches of existing banks.

But new ones are popping up, as well. Texas Bank is currently under construction where Shiloh meets Rhones Quarter Road.

"Any type of building is particularly good for the city," said Michael Wilson.

Wilson is an engineer with Tyler Development Services. He said, overall, development was down last year, but non-residential construction was fairly steady.  

It is too early to tell, but even more banks could potentially be in the works, he said.

"We're not just going to be opening banks just for the sake of opening them," said Tom Stewart., vice president of American State Bank.  "We're going to look and see where our customers are and where our future is." 

Electricians and painters were putting the final touches on the newest American State Bank branch at Old Jacksonville Highway and Rice Road.

"I think there's a big exodus from the big box banks," said Stewart. "People want to go back to the hometown banks, the real banks, the independent banks."

They won't have to go too far.  More than 50 banking institutions are listed as members of the Tyler Area Chamber of Commerce.

©2010 KLTV. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

  • NewsMore>>

  • Red Zone Rundown: Joe Drennon takes over Hallsville, Bobcats buy in to win.

    Red Zone Rundown: Joe Drennon takes over Hallsville, Bobcats buy in to win.

    Tuesday, August 22 2017 11:37 PM EDT2017-08-23 03:37:34 GMT
    KLTV StaffKLTV Staff
    "I really loved wearing the orange when I wore it, but I'm awful glad to wearing purple and gold right now. Kids did a great job of being here all summer long. That in itself tells me they want to be successful," said Joe Drennon, Bobcats head football coach. It journey won't be easy. The Hallsville Bobcats are coming off a rough 2016 season where they only came out victorious twice.  "We can't control what's gone on it the past. What we got to do ...More >>
    "I really loved wearing the orange when I wore it, but I'm awful glad to wearing purple and gold right now. Kids did a great job of being here all summer long. That in itself tells me they want to be successful," said Joe Drennon, Bobcats head football coach. It journey won't be easy. The Hallsville Bobcats are coming off a rough 2016 season where they only came out victorious twice.  "We can't control what's gone on it the past. What we got to do ...More >>
  • 1 dead, 1 in custody following dispute over animals in Marion County

    1 dead, 1 in custody following dispute over animals in Marion County

    Tuesday, August 22 2017 11:33 PM EDT2017-08-23 03:33:25 GMT
    Amy Allen, left, and Amber LongAmy Allen, left, and Amber Long

    Officials say a dispute over animals between two former business partners preceded a homicide in Marion County.

    More >>

    Officials say a dispute over animals between two former business partners preceded a homicide in Marion County.

    More >>
  • Aggies working to be better toward the end of the season

    Aggies working to be better toward the end of the season

    Tuesday, August 22 2017 10:35 PM EDT2017-08-23 02:35:42 GMT
    Sumlin is trying to make sure A&M finishes strong in 2017.Sumlin is trying to make sure A&M finishes strong in 2017.

    On Monday the Associated Press released its top 25 preseason poll for college football. And for the third straight year, Texas A&M didn't make the cut. Starting fast though and moving their way up the polls in recent seasons hasn't been the problem. In fact, the Aggies, who have over a dozen East Texans on the roster, were number four in the initial playoff rankings last year.

    More >>

    On Monday the Associated Press released its top 25 preseason poll for college football. And for the third straight year, Texas A&M didn't make the cut. Starting fast though and moving their way up the polls in recent seasons hasn't been the problem. In fact, the Aggies, who have over a dozen East Texans on the roster, were number four in the initial playoff rankings last year.

    More >>
Powered by Frankly