Lone Star Ag Credit Finishes 2nd Quarter Strong
Fort Worth, TX – Lone Star is on track for another profitable year! Total net income was $9.2 MM through the second quarter of 2013.
During the second quarter Lone Star took part in several events in our North and West Texas regions. Some of those included awarding 4 graduating seniors with a $2,500.00 scholarship, Tarrant County's Race for the Cure, the Western Heritage Classic in Abilene and hosting a Texas and Southwestern Cattle Raisers Ranch Gathering in Dublin.
Each Credit office is active in their communities through events related to 4-H and FFA as well as other local events and fundraisers. Spreading the word about what Lone Star specializes in for financing is one of the focuses of day to day operations.
As an excellent source for agricultural credit in our territory, Lone Star is equipped to provide existing and potential customers with focus and expertise for farmers, ranchers, and rural land and home owners. 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.
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.
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 August 30, 2013