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Trust
Texas State Bank is proud to provide Trust, Estate, Investment Management, and Retirement Savings Plan services to the people and businesses of West Texas since 1963.
Portfolio Accounts Link
Schedule of Fees (PDF)
Meet Our Trust Staff
Trust & Estate Administration
Living Trusts can be established to manage your assets, pay your bills, deposit income to your personal checking account, keep your tax records, pay your employees, plus many other work saving services.
Testamentary Trusts allow the bank to administer your assets after your death and for the benefit of your family in much the same way you would. These trusts can be used to manage a large asset such as a farm or ranch with multiple heirs on behalf of the family members who would otherwise inherit the property. These trusts allow you to benefit your spouse for his/her lifetime and then turn the remaining assets over to another party, such as children or charity.
We also manage other types of trusts, such as:
- Charitable Trusts
- Life Insurance Trusts
- Court-Appointed Trusts
- Scholarship Trusts
Investment Management
Our ability to combine cash from several different accounts allows us to purchase $100,000 Certificates of Deposit to get better rates. We can buy large blocks of common stocks and government bonds to get broker discounts, and as an institutional investor, mutual fund shares are purchased without loads. Plus our record keeping services greatly simplify year-end tax reporting on your investments. We can independently manage your investments or you can direct purchases and sales.
Management of Unique Assets
The Trust Department at Texas State Bank can oversee the operation of farm and ranch property as well as oil and gas production. We manage residential rental and commercial properties. We also manage mortgages and other loans, insurance, personal property, and other miscellaneous properties.
Retirement Accounts
We offer I.R.S. approved retirement plan documents for use by employers. Profit Sharing Plans, 401(K) Plans and Money Purchase Pension Plans are offered to provide you and your employees the maximum potential advantages. As Trustee of your company's retirement plan, we maintain possession of the funds, make investments, keep investment records, and value each employee's account. Employee and government reporting, such as Forms 1099-R and 5500 C/R, are coordinated with the company accountant to meet all necessary deadlines and requirements.
- Individual Retirement Accounts
If you want your I.R.A. to invest in more than local Certificates of Deposit, the Trust Department at Texas State Bank can set up a "Self Directed" I.R.A. to invest in virtually anything you want which is allowed by law. For example, we subscribe to a national computer network, which allows us to shop C.D. rates throughout the country and to generally find fully insured C.D. rates much higher than in the local market. Our reasonable fee is almost always covered by improved earnings. A variety of other investment options are available, including stocks, bonds, and mutual funds.
- Simplified Employee Pensions/SIMPLE Plans
Like company sponsored plans, S.E.P.s cover eligible employees as well as the owner of the business. The Trust Department can set up I.R.A. accounts for each employee who receives a contribution from your S.E.P. or SIMPLE and allow each employee to direct his/her own investments and receive his/her own trust reports.
Employee Benefit and Retirement Services (PDF)
Prohibited Transactions Disclosure for Qualified Retirement Accounts (PDF)
For more information, please call Joe Payne, Rhea Cooke or David Vann in the Trust Department at 944-7528. Office hours: 9 a.m.- 5 p.m. Monday - Friday.
Non-Deposit Investments offered are:
- not FDIC Insured
- not guaranteed by the Bank
- may be subject to loss in value
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