AUSTIN, Texas (AP) _ A new report says Texas banks are more profitable and healthier than most nationwide.
An Austin-based financial industry consulting firm, Sheshunoff & Co. Investment Banking, issued the report Monday.
The report did not name individual banks. It said Texas banks are well-diversified, doing significant business in energy, health care and agriculture, all of which have fared better than most other sectors.
Only two banks have failed in Texas this year.
Austin-based Guaranty Bank on Friday became the second-largest U.S. bank to fail and Millennium State Bank of Texas in Dallas failed earlier in the year.
The recession has led to 81 bank failures nationwide this year.