Facebook Image

Lone Star Ag Credit Reports Steady Results in Second Quarter

Lone Star Ag Credit, an agricultural and rural lending cooperative, reported solid financial results through the second quarter of 2016.

The member-owned co-op reported net income of $6.57 million and $13.85 million for the three months and six months ended June 30, 2016, respectively.

Total assets were $1.67 billion at June 30, 2016, compared with $1.58 billion in combined assets at Dec. 31, 2015. The overall quality of the loan portfolio remained high at mid-year 2016, with 98.89 percent of total loans classified as acceptable or special mention.

"The strength and size of our loan portfolio and financial position continue to grow as we strengthen our tradition of providing the best in local service," said Troy Bussmeir, CEO of Lone Star Ag Credit. "We appreciate the trust Texas farmers, ranchers. agribusiness leaders and rural homeowners place in us to meet their financing needs."

Lone Star is part of the Farm Credit System, a nationwide network of cooperatives that supports rural communities and agriculture with reliable, consistent credit and financial services, providing financing for rural real estate, agricultural equipment, livestock, ag operating expenses, rural homes and agribusiness firms.


Published August 11, 2016