Emboss

First select rock texture (Layer 1)

Type Text (Layer 2)

To get here. (Layer 2 copy)

Hold Command & Click T at the Layers collumn.

Then highlight Layer 2. 

Command copy.

New layer. Command V.

Copy Text layer and paste in new layer.

What it looks like with texture layer.

 Command C Layer 2 copy.

Command v.

Adjust Layer - move lower.

Image --> Adjustment --> Brightness

Make it darker.

Go back to Layer 2 copy. 

Adjust brightness. Make it brighter.

Go to Layer 2. 

At the bottom of Layer column click fx.

Select drop shadow and make adjustments. 

Finish.