I am happy to be participating in this timely summit on agriculture issues in Texas.
Agriculture is a very important sector in the economy of Texas and in the nation.
But AG producers face different challenges than in the past, which is why this summit is so critical to identifying barriers to profitable AG production and possible solutions. The condition of the banking industry in Texas is at an all time high and has been for several years. Only two percent of the 900 banks in Texas are considered problem banks. Agriculture lending used to be a larger portion of overall lending in Texas banks in the past, than it is at present. Part of the reason for this is that banking has become more diversified, reducing its concentrations in oil and gas, real estate, and agriculture.