Lone Star Ag Credit 2013 Board Elections
Fort Worth, TX – Lone Star, ACA (Lone Star) recently completed elections of the 2013 Board of Directors. Tom Johnson from Sherman was elected to represent Region 1, Harlin Brown, from Woodland will represent Region 2 and David Harris from Cleburne was elected to Region 5.
The board annually votes regarding leadership within the group. Those elections resulted in Tom Johnson as Chairman of the Board and David Harris as Vice Chairman. Elected to Compensation Committee were as Chairman David Stubblefield from Colorado City and members Larry Stewart, Granbury and Richard Gaona, Roby. Audit committee will include Chairman Don Crawford from Mineral Wells and members Lonnie Hammonds, Cranfills Gap, Bert Pruett, Slidell and David Harris.
The Board of Directors is aware of the responsibility to stockholders to make decisions that will move the association forward to achieve a positive and profitable position.
Lone Star has been 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 owners/borrowers based on the result of 2012 operations. This dividend payment reduced borrowers' interest costs by an average of 1%.
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.
We are 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 6, 2013