Rita Edwards, President of the Downtown Business Alliance, introduces three of the local bankers, at
Monday night's monthly meeting, who delivered a program on the financial climate of Hopkins County.

 

Local Bankers Address Downtown
Business Alliance on Local Financial Climate,
Monday Night

 

by: Bobby McDonald

It was a large crowd of local business owners who attended the Downtown Business Alliance monthly meeting at Plain and Fancy Sandwich Shoppe, as three local bankers, Tom Sellers, Craig Roberts, and Lee Teetes, delivered an informative program on the health of the local economy.

"I want to begin by saying that the three of us all compete with one another in the local community, but it is with a spirit of cooperation," expressed Sellers, as he opened the program. "The three of us correspond on a sometimes daily basis, making certain that we have the local community's interests at heart!"

 

Tom Sellers, President of Alliance Bank, that has been in this community since 1927, offered
his thoughts on the current financial market.

 

"We work together for the betterment of Hopkins County," continued Roberts. "It's so nice to be in a community like Hopkins County, where the spirit is of cooperation, rather than extensive competition, and the community receives the benefits when such a spirit exists!"

"It is to the benefit of this community that we can work together, because everyone benefits when the community is healthy and viable," denoted Teetes. "Community banks offer an extra level of service to their hometown communities, that 'mega-banks' can't provide!"

 

 

 

"We go to church with you, work on the Chamber of Commerce with you, and are all listed in the phone book, if you need us," continued Roberts. "Our success depends on your success!"

 

Craig Roberts, President of Guaranty Bond Bank, listens to a question at Monday night's
forum, and advised that his bank has been in operation in Northeast Texas since 1913.

 

"And, I think that is one of the main reasons that our local economy continues to thrive, despite some of the massive financial crisis that exists in other parts of the country," related Sellers. "Certainly, we've seen some of the effects of the national problems, right here at home in Hopkins County, but we've been very, very fortunate in this community and in Texas, that we haven't seen the real estate market collapses and other factors, that folks in California, Florida, and other pockets of the country have experienced!"

"Yes, we are and will pay for some of the financial instability in other parts of the country, through higher FDIC premiums," stated Teetes. "We've already received higher premiums and will continue to be assessed to meet the needs of the insurer of accounts!"

"And, if any of you have any influence with your congressmen, let them know that every dollar that has to be paid out in those premiums, directly affects the amount we're able to return to the community, in investment dollars," stated Sellers. "We feel those dollars are best invested here at home and in this community!"

 

 

"I'd encourage everyone to contact their congressmen, write them a letter, and let them know that we want them to vote against massive financial reform for community banks," expressed Roberts. "There is legislation that will affect us, that has no bearing on the lending practices we adhere to in our community!"

Sellers explained the TARP provisions that were legislated approximately a year ago. Known as the Troubled Asset Release Program, some $200 Billion of troubled loans were placed in banks at a reduction to raise capital for our nation. No local banks participated in the program and some $80 billion has been paid back, in the first year.

 

Lee Teetes, President of City National Bank, a local bank
since 1889, advises that the health of the local economy depends
on citizens investing in their local economy.

 

Roberts addressed the group pertaining to Small Business Loans and the availability of help at both Paris Junior College and on the internet. There are staff persons that are available to help you through PJC, who come to the Chamber of Commerce regularly and you can "google" for additional help on the internet.

"I've been in banking for almost 40 years," advised Teetes. "And, the single most rewarding aspect of the business is to see someone start a business, that you've helped, and through a process succeed in making the business and the quality of their life successful, locally!"

"I feel that tough times have brought many of our citizens back to trading at home and continues to help the local economy," expressed Roberts. "Those dollars that are spent here at home, helps you the small businessman and us in the local banking industry. When you eat at a local restaurant, buy clothes from the merchant down the street, and buy your gasoline from a locally owned convenience store, it helps everyone in the local community!"

"The health of our local economy is more stable than other areas of the country because of this local trade and because of the diversity of our economy," advised Sellers. "The dairy industry is suffering from some very tough times, but we have other aspects of our economy that are stable and local companies that have not had to 'lay-off' employees, so we remain healthy!"

The bankers continued with an "open" question and answer session that addressed individual questions about the FDIC insurance of accounts in combinations up to $250,000.00; regulations imposed on community banks versus much larger banks that have overseas and international deposits; and the continued cooperative spirit that helps to make Hopkins County a viable community.

"Comparing our banks to some of the giant 'mega-banks' is like attempting to compare grapes to watermelons!" expressed Teetes. "The practices that we work with on a daily basis does not even compare with some of the reform legislation that we will probably be forced to deal with!"

"It's a complex system and many, many of the complexities that exist don't exist in banks with assets below say $5 Billion dollars," stated Sellers.

"Encourage your congressmen to make strides in banking reform that will be more appropriate to the local community banks, and another set of reform for the larger banks!" expressed Roberts, as he closed Monday night's informative discussion.

 

Several in Monday night's audience commented on the wonderful participation from the local banks in civic programs, in not only monetary support, but sending their staff and employees as committee members, serving as leaders in projects, and even the presidents of the banks, working at stew contests, booster club promotions, and hospital galas, to name only a few!

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