Operating Successfully in the Current Economy
I’ve had the opportunity to travel the past few weeks, meeting with investment bankers, bank investors and other bankers from across the country. There is clearly a feeling from some outside our geography, mainly back East, that our region is really suffering economically, and that it will get worse.
However, as I speak to bankers and customers in our region, I don’t get the same feeling. Sure, there is concern over the low energy prices; we have seen some layoffs in the industry, and you do get a sense that things will slow down in the coming quarters. But I don’t get a sense of doom and gloom.
I think people in our markets are realists but have a great “can do spirit” that will enable us to weather any continued slowdown. The business people I speak with are tightening their belts, watching expenses and paying attention to their business. We also have a pretty diversified economy as you travel north on I-35 from San Antonio to Wichita. I still see signs of growth and positive economic activity.
That being said, caution and patience are good watchwords for the coming months. We are still waiting for the Fed to make decisions on rates, and the political environment is as uncertain as I have seen it. But I’m confident that business owners who watch expenses, manage their bottom line and use debt in a productive manner will continue to be successful.
At Bank SNB, we can work with you to evaluate banking products and services that will help you run your business more efficiently and with prudent use of leverage, if that’s what is needed. As your financial partner, we’re committed to helping you operate as effectively as possible in any economy.
Bank successfully. Bank SNB.
On The Mark was written by Bank SNB President and CEO, Mark Funke.