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Oct 17, 2008 9:15 am US/Central
Locally-Owned Bank Gives Secret To Its Success
Selena Hernandez
TERRELL (CBS 11 / TXA 21) ―
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One North Texas bank has weathered the market meltdown.
About 35 miles east of Dallas, the
American National Bank of Texas is one of the oldest, private banks.
"Our family became associated with the bank back in the 1880s," explains Robert Hulsey, the bank's president and CEO. "You kind of learn by experience. You're prepared for the ups and the downs."
The bank, which has
35 locations, is still standing strong even in the midst of economic uncertainty.
"Sticking to your lending practices in good times and bad times is how you're going to survive," says Riter Hulsey, chairman of the board.
The Hulseys say banking basics kept the private financial institution from falling prey to the current credit crunch that's taken a toll on so many others.
"If we're gonna give someone a home loan, they better have a down payment and good credit ability to repay," Hulsey says.
For customers, it's a sense of community that keeps them coming back with their cash.
"There's really nothing I wouldn't do with this bank or ask from this bank right now because they've been good to us, too," says bank customer Zach Webb. "When I walk in here, I still feel welcome. They know who I am."
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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Timeline: U.S. Credit Crunch & Financial Failures
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