Patronage Profit Sharing Program

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Texas Land Bank, a rural financing cooperative, recently declared a $5.35 million patronage to be paid to its stockholder-customers. This amount is based on the co-op’s solid 2010 earnings, and was approved by the Texas Land Bank Board of Directors.

Of this patronage payment, $3.85 million will be returned to Texas Land Bank customers as cash in mid-April. The remaining $1.5 million will be allocated for distribution to stockholders in future years. This allocation is a nonqualified distribution, and in the meantime, will be used as capital to help the cooperative grow.

“We had another year of steady growth and are pleased to pass along that success to our borrowers,” said Charles P. Gant, Texas Land Bank chief executive officer. “We are proud to continue to provide a great value to our customers through our patronage program. With this year’s distribution, we will have returned more than $50 million to stockholders since 1994.”

Patronage Payment History

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*The information contained in the above chart is intended for informational purposes only. Past performance does not guarantee future results. Loan balance, repayment terms and the association’s financial performance all affect the amount of the patronage that may be paid. This program may be modified or discontinued at any time.