Lone Star Ag Credit 1st Quarter 2013
Fort Worth, TX – Lone Star, ACA (Lone Star) enjoyed robust earnings as a result of its first quarter operations, yielding total net income of $5.7MM for the period ending March 31, 2013. This figure not only meets but surpasses management's expectations.
Also during the quarter Lone Star continued to provide a sound and stable source of credit for our customers by: improving the quality of its assets, growing its portfolio, exceeding regulatory capital requirements with a 20% capital ratio, and paying a $7MM patronage dividend to our owners/borrowers based on the result of 2012 operations. This dividend payment reduced borrowers' interest costs by an average of 1% which, as part of its cooperative structure and heritage, makes Lone Star unique in the marketplace.
“Patronage dividends are one of our defining attributes, and we were excited to see the strong financial performance from 2012 make its way into the hands of our members", says current Chief Operating Officer, Troy Bussmeir. “We are also very pleased to see the strong trend continue through the first quarter of 2013."
As an excellent source for agricultural credit in our territory, Lone Star is equipped to provide existing and potential customers with the focus and expertise farmers, ranchers, and rural land and home owners find invaluable. Our knowledgeable and dedicated staff is happy to meet with you, answer your questions about our business, and has rightly earned a reputation for customer service that is second to none.
Part of the Farm Credit System, a nationwide network of cooperative agricultural lenders, Lone Star has and will continue to excel in providing the financing solutions needed in rural Texas. We can deliver loans for agricultural and recreational real estate, rural homes, agribusinesses, operating lines of credit, and equipment and livestock financing. Our informed staff is ready to meet your financing needs at branches located in Sweetwater, Abilene, Stephenville, Weatherford, Cleburne, Denton, Sherman, Paris, and New Boston. The headquarters office is located near downtown Fort Worth.
Published June 7, 2013