POSTED: Monday, December 17, 2012 - 12:00pm
UPDATED: Monday, December 17, 2012 - 12:14pm
If bank deposit figures serve as an economic indicator, then Longview and East Texas are faring well.
Longview banks completed their second consecutive year of double-digit deposit growth as of June 30, according to figures provided by the Federal Deposit Insurance Corp. Between June 30, 2011, and June of this year, deposits in Longview banks grew by nearly $250,000, posting a 12 percent jump.
That increase comes on the heels of a 13 percent increase in deposits the year before.
Brad Tidwell, president and CEO of Henderson-based Citizens National Bank, said as least part of the reason for the hefty jump in deposits could be that many people with money to invest are holding it close and keeping it liquid.
Read more here.