Feb. 9--Mounds of red earth mark the site of a Citizens National Bank branch going up at the corner of Grande Boulevard and Old Jacksonville Highway.

Miles away off U.S. 64 just west of Loop 323, workers are clearing bamboo and soon will begin work on a new Southside Bancshares Inc. branch.

Across town at Fifth and Beckham streets, the finishing touches are being put on a new Bancsouth branch.

The branches soon will add to what local bankers say is Tyler's place as a regional financial juggernaut, the largest between Dallas and Shreveport and Tulsa and Houston.

Every year on June 30, the Federal Deposit Insurance Corp. takes a snapshot of bank deposits throughout the country.

The most recent snapshot of Tyler area banks, taken June 30, 2008, shows a 28.5 percent increase in deposits from June 30, 2004. There were about $3.37 million in deposits on that date last year, compared with $2.62 million on June 30, 2004.

Meanwhile, the number of banking offices grew 22.6 percent, to 76 from 62.

About a dozen financial institutions recently have either opened new banks, such as the First Bank and Trust branch that opened last year on Old Jacksonville Highway, or announced plans for new branches in the Tyler area.

Sam Dawson, president and CEO of Southside Bank, which has two new locations in the works in the Tyler area, said banking here is like a heart that circulates money throughout a growing community.

Other vital organs include the medical community, retirement industry and a growing college presence.

"We really are a medical center, and now we're a financial center," said Sam Dawson, president and CEO of Southside Bank, which has two new locations in the works in the Tyler area. "Also, we're a retirement center. You can play golf here year-round."

Dawson attributed the rise of the Tyler area's banking industry to the diverse, growing economy, with each element working together as a symphony in crescendo.

"The economy in Texas and East Texas has been strong for years," he said. "Tyler has really had a growth spurt in the last two or three years, and it's a great place to do business. That brings people to the area. It's a well-kept secret that East Texas is growing, particularly Tyler."

He also pointed to a growing college community, with 10,000 enrolled at Tyler Junior College and 6,000 at The University of Texas at Tyler.

"When you're talking about 16,000 students, you're talking major university," Dawson said.