Association News

Employees Attend Retreat

Employees of the Texas Land Bank recently spent two days at an employee retreat near Glen Rose, Texas. During the retreat the employees met with Chad Baucum, Farm Credit Bank of Texas Network Operations and Security Director.  Chad educated employees on essential information security measures required to ensure protection in computer systems. 

Marcus Boone, FCBT Vice President and Unit Manager of Direct Lending gave an overview of the overall financial condition of the Farm Credit Bank of Texas and trends of financial markets. Charles Gant, Texas Land Bank CEO presented a current view of Texas Land Bank Operations and then led in a round table discussion with all employees. 

During their stay employees divided into groups and enjoyed a team building afternoon during which everyone competed in finding global positioning coordinates and completed tasks at each destination. Every employee of the Texas Land Bank was present for the retreat.

Temple/Georgetown Joins "Battle of the BBQ"

The Texas Land Bank Temple/Georgetown Credit office recently participated in Georgetown’s “Battle of the BBQ” at Trinity Title Company in Georgetown.  All proceeds of this community event benefited The Rainbow Room for Prevention of Child Abuse and the Williamson County Scholarship Foundation.  Congratulations to Weldon Schiller and Hector Martinez of “Team Texas Land Bank” for winning first place in the Ribs category and third place in the Chicken category!

Pictured on the right is Hector Martinez, Vice President of the Temple/Georgetown Credit Office with his friend Gene Cano.  Hector is headquartered in the Georgetown Contact Office. Not pictured is Weldon Schiller, Credit Office President of the Texas Land Bank Temple Credit Office.

Texas Land Bank Holds 2010 Stockholder Annual Meeting

The Texas Land Bank 2010 Stockholder Annual Meeting was recently held at the Waco Convention Center.  A record number of 227 Stockholders and guests attended.  Those present enjoyed a BBQ dinner followed by the business meeting.   Chief Executive Officer Charles Gant gave a report of Corporate and Financial Operations for 2009 and presented an overview of the 2010 outlook.  Gants presentation revealed a solid financial state for the Texas Land Bank and an overview of potential future opportunities for Texas Land Bank.

Director elections were held during the evening. Chief Credit Officer Keith Finstad introduced and thanked the Nominating Committee for their diligence and time spent in procuring the outstanding slate of nominees for the election. Finstad then introduced Nominating Committee Chairman Hope Huffman to come forward to give the Nominating Committee Report. After this report elections were held. Three directors were elected from Region I.  Gary Murphy of Hubbard and John Sawyer of Hillsboro were re-elected to the Board of Directors.  Paul H. Young of Lott was selected by the voters as a newly elected director. 

A drawing for the door prizes was conducted by Waco Credit Office Executive Vice President Steve Ostrom.  Prizes included a Weekend for Two at Rough Creek Lodge in Glen Rose, 42 inch plasma television, John Deere pressure washer, Stihl chainsaw, Stihl blower vacuum and other cash prizes.

The evening concluded with an auction of roses. The auction resulted in over eighteen hundred dollars given by Stockholders to benefit the March of Dimes, a non-profit charity the Texas Land Bank has supported for the last several years. 

Texas Land Bank Continues to Share Earnings with Customers

Texas Land Bank was pleased to return $4.5 million to our borrowers this year based on our 2009 financial results. Texas Land Bank also reserved a portion of our net earnings to continue to serve borrowers into the future and during touch economic times.

The Texas Land Bank patronage included a cash distribution of $3 million and an allocation of $1.5 million. The allocation was a nonqualified distribution, which is not taxable to the stockholder- customer until it is distributed in cash at a future date. This was the 17th consecutive year that Texas Land Bank has declared a patronage payment to our stockholder-customers. With this year’s patronage, the cash payments and allocations total $45.4 million paid to our stockholder-borrowers since 1994.

Every year, the board of directors decides how much of the association’s earnings need to be maintained as capital to fund the association’s growth. After that, we are able to return the remainder as a patronage refund to you. This year, the board had a lot to consider. The difficulties in the financial markets in 2009, coupled with extreme volatility in many agricultural commodity markets, created additional risks for the association. However, in spite of these extreme operational challenges, the association generated record net income
for 2009. As a result, the board was able to declare another very good patronage for the stockholder-borrowers. Texas Land Bank is committed to paying patronage to you. It’s the cooperative way. Paying patronage is a direct result of our cooperative structure. Because you, our customer, are a part owner, you share in our earnings. That’s the basic philosophy behind our patronage refund program. No other type of lender offers you such an advantage.

Stockholders Participate in Farm Credit Young Leaders Program

Clay and Rebecca Barton of Cameron recently heard firsthand about how well the Farm Credit System is faring despite this year’s volatility in the financial markets. The couple was among 23 young agricultural producers selected to attend the 2009 Farm Credit Young Leaders Program. As member-borrowers of the Farm Credit System, and specifically Texas Land Bank, the couple was given an opportunity to interact with decision-makers and Farm Credit System leaders and get a behind-the-scenes look at how the System operates.

During the four-day event, sponsored by the Tenth District Farm Credit Council, participants traveled to Washington, D.C., and New York City for tours, special briefings and meetings with government, System and financial leaders. Each lending co-op in the district was invited to select an individual or couple to participate in the program.

Clay owns property in Milam and Falls counties and leases additional acreage on which to run his cattle operation. He is also the manager of Temple Bolt & Supply Corp., an industrial supply company in Temple. 

The trip included meetings with agriculture industry representatives, officials of the Farm Credit Council and congressional leaders in Washington, D.C. The group also had a briefing at the Federal Farm Credit Banks Funding Corporation and toured the financial district in New York City.

March of Dimes March for Babies 2010

Texas Land Bank participated in two March of Dimes March for Babies walks this spring. Approximately $5,500 was raised by employees, stockholders, family and friends for this worthwhile cause whose mission is to improve the health of babies by preventing birth defects, premature birth and infant mortality. Over $1,800 of that money was donated by Texas Land Bank stockholders at the annual meeting in April.