Deposits Skyrocket at Eagle Ford-Area Banks
Houston Chronicle -- "South Texas landowners getting fat checks from energy companies for
drilling on their land have been a boon to banks based in the Eagle
Ford Shale. Deposits at most of those banks have surged. The influx of deposits has left the Eagle Ford-area banks with something of a challenge: how to deploy that money.
For example, Karnes County National Bank's deposits rocketed 110 percent to almost $168 million from the end of 2009 through the first quarter of this year. Eleven
other institutions registered jumps in deposits that ranged from 46.8
percent to 82.7 percent. By comparison, domestic deposits at U.S. banks
increased 14.7 percent during that time.
"We have had depositors come
in with more than a million dollars at a whack. So it is a
challenge to keep the money invested, he added."
HT: Stephen Taylor
6 Comments:
What do you think will happen next? I'd like to hear your input :)
Gosh, I wonder if those banks even know what to do with real money instead of the fake Fed stuff. Bears well for the area's future.
And why a federally mandated ethanol program? GOP socialism?
Craig beat me to it. But may be my take is slightly different.
I thought:
"The Ben Bernanke is happy and willing to change that real wealth into potential wealth as defined by the elected branches of the Federal Government."
The problem is the economics of the process. When companies have to keep adding massive amounts of debt just to keep going all those paycheques may not be as secure as Mark imagines.
Regarding "Boston's Finest," I really don't need to see a lewd photo of somebody's behind this morning.
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