Today, their checks are drawn on Bank of America. Two decades of mergers, failures and technological change have left scars on the Texas banking industry, but the survivors are a strong lot. Today's Texas banks are players in the bigger, national financial services industry. They must be willing to make available the wide array of services customers demand and competitors offer, including home equity loans, and be receptive to merger opportunities.
Banks already are among the most aggressive users of technology.
Electronic currency, on-line banking and Year 2000 preparedness are now part of their daily routine. But their survival hinges on staying ahead of technology in order to continue catering to more demanding customers. That merger gave birth to interstate banking in Texas. In May 1998, the Texas Banking Commissioner authorized interstate branching rights for state institutions. It is still too early to determine the impact of interstate branch banking in Texas, though there is clearly a pent-up demand for branch banking throughout the nation.