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Lone Star Ag Credit Announces Growth in 1st Quarter Earnings and Total Assets

Lone Star Ag Credit, an agricultural and rural land lender headquartered in Fort Worth, saw earnings and total assets rise in the first quarter 2016.

Just after celebrating National Ag Day and distributing $12.8 million in patronage dividends in March, Lone Star posted net income for January 1 through March 31, 2016, of $7.5 MM as compared to $6.7 MM in the course of the same period of 2015.

"Our goal at Lone Star has been to provide a dependable source of credit to our customers by improving the quality of assets. Credit quality of the loan portfolio was exemplary in the first quarter with 98.9 % of total loans classified as acceptable or special mention," said Troy Bussmeir, chief executive officer.

Assets and loan volume also continued to move in a positive direction during the first quarter. Total assets as of March 31, 2016, were $1.63 billion compared to $1.46 billion as of March 31, 2015.

"Continued healthy growth in income and assets benefits our stockholders and makes Lone Star Ag Credit the best choice for rural land and agricultural loans," said Bussmeir.

Part of the Farm Credit System, which is celebrating its 100th anniversary this year, Lone Star Ag Credit offers financing expertise and option for agricultural and recreational real estate, rural homes, agribusinesses, operating lines of credit, equipment and livestock.

Published May 11, 2016