Association News

Blankenship Receives Promotion

Macy Blankenship has been promoted to loan officer in Texas Land Bank's Lampasas Credit Office. She will also serve as the loan officer in the lending cooperative's Marble Falls contact office.

A Lampasas native, Blankenship joined Texas Land Bank in 2003 and has most recently served as the office's credit officer and senior loan processor. She received a bachelor's degree from Tarleton State University in May 2009.

Blankenship and her husband, J.J., reside in Lampasas with their son, Kirby, and are partners in Hermann Feed and Supply.

Texas Land Bank Participates In March of Dimes Project

Texas Land Bank Employees and their families recently participated in the March of Dimes 2009 March for Babies held at Legends Crossing in Waco.  $2,805.00 was raised through donations and by the Texas Land Bank matching each contribution. These funds will be used to improve the health of babies by preventing birth defects, premature birth, and infant mortality. 

Charles Gant, CEO stated that he was very impressed with the employee participation and contributions made in support of the March of Dimes non-profit organization.

Pictured above are the Texas Land Bank employees and others participating in the March for Babies.

Texas Land Bank Declares $6.88 Million Patronage to Customers

Texas Land Bank, ACA recently declared a $6.88 million patronage refund to be paid to its stockholder-customers.

Of the total amount, $2.75 million was returned as a cash patronage payment to its stockholder-customers. Checks were mailed in late April. An additional $4.13 million is allocated for distribution in future years. Texas Land Bank has returned $40.9 million to its stockholder-customers since 1994.

This latest patronage declaration was based on the rural lender’s solid financial results for 2008. Texas Land Bank reported a 5.9 percent increase in net loan volume, which totaled $408.2 million at year-end 2008, compared to the $385.6 million reported at year-end 2007. Total assets increased by 5.6 percent to $419.9 million at Dec. 31, 2008, from $397.6 million a year earlier.

Credit quality remained strong, with 97 percent of Texas Land Bank’s portfolio considered acceptable. Net income for 2008 was $6.8 million, compared to $7.7 million reported in 2007.

“We are very pleased that we were able to continue our profit-sharing plan, and return $6.88 million in patronage to our stockholder-customers,” said Charles P. Gant, Texas Land Bank chief executive officer. “Patronage is a key benefit of doing business with a cooperative like Texas Land Bank, and we continue to be financially strong and capable of providing financing through this current economic environment.