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Lone Star Ag Credit Reports Strong Second Quarter Financial Results

Lone Star Ag Credit, a rural lending cooperative headquartered in Fort Worth, reported solid financial performance and increased earnings through June 30, 2015.

Net income for January 1 through June 30, 2015, was $14.37 MM as compared to $13.19 MM at the end of the same period in 2014. Total assets as of June 30, 2015, were just under $1.5 billion, an increase of $100 million compared to June 30, 2014.

Credit quality of the loan portfolio was also outstanding as of June 30, 2015, with 98.4 % of total loans classified as acceptable or special mention.

Lone Star Ag Credit strives to be the premier source of reliable financing to our customers year after year. The results through the second quarter are an example of that commitment.

In April, based on the results of 2014 operations, $12.1 million in cash patronage dividend checks were mailed to eligible member-stockholders. This dividend payment, effectively reduced borrowers' interest rates by an average of 1%.

Part of the Farm Credit System, a nationwide network of cooperative agricultural and rural land lenders, Lone Star Ag Credit can provide financing options for agricultural and recreational real estate, rural homes, agribusinesses, operating lines of credit, equipment and livestock.

Lone Star Ag Credit has finance expertise for farmers, ranchers and rural land and home owners. Our credit offices are located in 48 counties throughout North, Central, East and West Texas. Our staff is ready and willing to discuss your needs and the loan programs that are beneficial to you. Credit office locations are in Fort Worth, Sweetwater, Abilene, Stephenville, Weatherford, Cleburne, Denton, Sherman, Paris, Round Rock, Waco, Temple, Hillsboro, Lampasas, Corsicana, Mt. Pleasant and New Boston. The headquarters office is located near downtown Fort Worth.

Published August 10, 2015