It's time to call a professional. It's possible to bait for carpenter ants and probably kill the entire nest, but you need a professional to inspect the damage and to determine if you have termites. Since you do know what kind of ant or termite......you need to call on someone who can ID these for you. That is the only way to protect your home.

Termites and carpenter ants can't co-exist.....the ants EAT termites! If you see carpenter ants milling around with termites, it's because they're chasing them!!!!

Here is a link that might be useful: carpenter ant fact sheet

Well just like anything in nature, there are no rules. My family had a house in the woods where there was a huge colony of both carpenter ants and termites. To them a house is a big habitat and they were doing some damage on it. They can be on opposite ends of the place and never see each other. We had to get a professional in to take care of them.
-Chops

Ants will always have pinched waists while termites never will have. If what you have has pinched waists they are ants, if not they are termites. Of the 5 species of termites you have in Texas there are different colors so there is no good way to tell which by body color.

I have a rather large ant hill that has spung up on/at my wooden privacy fence. I really don't mind if they live there, however, last year I put in a flower bed next to a different portion of the fence which included amending/adding soil against it to plant some annuals. Then in the fall, I got around to painting my fence and moved away the dirt and found to my surprise (wood supposed to be pressure-treated, but that's another story) termites eating away at the wood. Took care of that prob. and now put bricks against the wood if I put in beds along the fence. So, my question is, since ants eat/chase termites, is it ok to leave the ant hill where it lays?

Unless the ants are creating major problems there is no real need to do anything that might harm them.