Lone Star Ag Credit Opens Branch in Fort Worth
Fort Worth, Texas – Lone Star Ag Credit recently opened a branch office in Fort Worth to better serve its north-central Texas customers. The new branch office is located at 1612 Summit Avenue, Suite 325, next door to the lending cooperative's headquarters.
“Lone Star has been headquartered in Fort Worth for several years now, and we recognized that it was time to open a separate credit office here, given the strong demand for rural real estate in this region," said Robert Humphreys, Fort Worth credit office president. “As people from Fort Worth and the surrounding area look to purchase a ranch or a place in the country, this branch office will allow us to better serve their rural financing needs. We welcome them to call or come by if we can be of assistance."
The rural financing co-op has been a longtime supporter of and participant in many local Fort Worth organizations and causes, including Fort Worth ISD ag programs, Fort Worth Chamber of Commerce, Fort Worth Hispanic Chamber of Commerce, Fort Worth Stock Show, Meals on Wheels, Samaritan House, Tarrant County Race for the Cure and Tarrant County Youth Livestock Show.
In addition to opening the Fort Worth branch, Lone Star recently expanded its lending territory to include 48 counties through its Jan. 1, 2014, merger with Texas Land Bank. The merged association reported $1.3 billion in total assets and $308 million in capital for year-end 2013.
Based on solid 2013 financial results, the customer-owned cooperative was able to continue its long history of returning surplus earnings to its members. The Lone Star board recently approved an $11.95 million cash patronage to its borrowers, to be paid in April.
Lone Star provides financing for agricultural and recreational real estate, rural homes, agricultural equipment, livestock, operating capital and agribusiness firms. Headquartered in Fort Worth, it has credit offices in Abilene, Cleburne, Corsicana, Denton, Fort Worth, Hillsboro, Lampasas, New Boston, Paris, Sherman, Stephenville, Sweetwater, Temple, Waco and Weatherford. It is part of the nationwide Farm Credit System.
Published April 18, 2014