Lone Star Ag Credit Has Strong First Quarter

Fort Worth, Texas - Lone Star, ACA (Lone Star Ag Credit) has experienced growth and earnings in the first quarter of 2009.  Even though a troubled economy has people’s concerns high, stockholders of Lone Star Ag Credit should not have concerns regarding their financial institution.

 Two reasons why Lone Star Ag Credit remains the premier rural lending institution of Texas: Lone Star Ag Credit did not engage in high-risk lending or other activities that would weaken the strength of our Association and Lone Star Ag Credit is well capitalized, exceeding the ratio standards set by our regulators.   

Net income totaled $5.9 million for the three-month period ended March 31, 2009.  Loan volume experienced two percent growth with a total of $1.2 billion in loan assets outstanding.  Also during the first quarter of 2009, Lone Star Ag Credit returned $5.43 million in cash patronage to our stockholders.  This amount was based off of our 2008 earnings.

“Lone Star Ag Credit is pleased to report a strong and profitable first quarter,” said Daron Gates, Chief Executive Officer.  “As we continue to do well, our stockholders and new customers are able to obtain good loans and remain confident in our Association and the future,” he said.

For more than 90 years, Lone Star Ag Credit has been a reliable source of financing for Rural America.  Lone Star Ag Credit provides a unique view in today's banking environment by being a strong, customer-owned bank committed to providing courteous, accurate service through a well-trained, highly motivated staff. Lone Star Ag Credit offers a wide variety of loan programs at competitive rates including agricultural and recreational real estate, rural homes, operating, equipment, livestock and agribusiness loans.   Lone Star Ag Credit has offices located in Fort Worth, Sweetwater, Abilene, Stephenville, Weatherford, Cleburne, Denton, Sherman, Paris and New Boston.

May 28, 2009