Happy State Bank Is the Only Game in Town for These Texas Farmers
Drought, the trade war with China, and rising interest rates are on the minds of many as spring planting gets underway in Silverton, Texas.
The loan office at Happy State Bank in Silverton, Texas.
Photographer: Lucas Foglia for Bloomberg Markets
The loan office at Happy State Bank, the only bank in Silverton, Texas, has barely changed in the 73 years it’s been open. About 90 percent of the farmers in Briscoe County rely on loans to pay for each season.
“Once a year, we’ll do equipment, cattle, and crop inspections,” says Kyle Fuston, branch president. “After the crop is up and running, come midsummer, we’ll go out and look at it just to make sure. If we go out there and there’s hardly any crop out, and the farmer’s still borrowing money, then we have a problem.”