BeyondTheFlag

I have a psd file that was created for me and I want to edit the text on it but I have no idea how to do so. Below is a png version of the psd file. As you can see, it was created so that "Namer McNamerson" and "Citiesburg, Texas" could be removed and replaced by an actual name and city. In the same token, the white flag was also made to be edited to reflect the state. How do I change the text in these three areas to say whatever I would like for it to say?