Report: Texas Banks Better Off Than Most

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.

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