Continued profit for Lone Star Ag Credit's 3rd Quarter
Fort Worth, TX – Lone Star, ACA, recorded a total net income of $14.7 MM at the finish of the third quarter of 2013. Financial performance is above expectations due to steady loan demand throughout most of our territory.
Lone Star is fortunate to be supported by the communities and counties we serve. We participate in local and territory wide events related to bettering agriculture and managing rural real estate and natural resources. Our staff is also proud to work with members of 4-H and FFA in various ways.
Lone Star Ag Credit is part of the Farm Credit System. Farm Credit is a nationwide network of cooperative agricultural lenders. This broadens our lending power which benefits our stockholders. The Lone Star staff is friendly and ready to answer questions about loan programs that fit your needs. And we still meet face to face, if you prefer.
Earlier this year, Lone Star paid out $7 million in patronage dividends to its stockholders. Because Lone Star is a cooperative, when it records profits the board of directors has an opportunity to return those profits back to the stockholders. Based on 2012 performance the 2013 payments to borrowers equaled a reduction of approximately 1% of their interest paid.
Our loan officers have a clear understanding of financing for agricultural and recreational real estate, rural homes, agribusinesses, operating lines of credit, and equipment and livestock.
Lone Star is ready to meet with you 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 January 2, 2014