It always takes a little time for the New Year to get rolling. From Thanksgiving of the previous year to February, many leaders are spending time with their families and considering all that happened. The November 7, 2016 “Texas Bankers Association’s 5th Annual Strategic Opportunities and M&A Conference” in New Orleans was one of these times for reflection.
“Assessing Community Banking”
The Texas economy might be one of the healthiest in the country. While the “Rust Belt” continues to lose jobs to overseas manufacturers, the “Energy” industry continues to remain quite potent. Oil and natural gas will always be needed.
Oil drilling, equipment and refining firms are hiring workers to keep the boom going. There had been some concerns when the oil price sank, but it has started to recover in 2016. This has led to a booming housing market in North Texas. The Dallas Morning News reported that median home sales were 13% higher than in the previous year.
It seems that the demand was outstripping supply. Dallas only had a two month’s supply of housing, while the standard for metropolitan areas is six month’s. This might have been one of the topics at the banker’s meeting, especially for the panel “Reinventing Community Banking: Perspectives on Competing by Innovation.”
“Planning for the Future”
It can take time to develop a great financial product, market it and get people to quality for it. NexBank President & CEO John Holt understands this all too well. He discussed the past year and innovations for the upcoming year of 2017 during the aforementioned banker panel. If bankers combined their forces, they could help individuals afford the most expensive Dallas homes. NexBank is well-positioned to help both individuals and builders with a well-rounded portfolio of loans.