The Texas economy continued to grow at a moderate pace, with manufacturing, energy and retail activity showing continued strength. Employment also grew modestly, while businesses remained generally positive about the outlook.
Inflation remains a challenge, as higher fuel, transportation, labor and material costs continue to put pressure on businesses. Lending activity also continued to grow, although at a slower pace, while overall loan performance improved.
Overall, the Texas economy continues to show resilience, with solid growth in several key sectors despite continued cost pressures and uncertainty.
We're here to help you make the most of what's ahead.
Traci Spratt, CPA- Chief Financial Officer
Texas Security Bank