Lone Star Ag Credits holds annual stockholders' meeting in Fort Worth

Fort Worth, Texas – Lone Star, ACA (Lone Star Ag Credit) held their annual stockholders' meeting on April 20, 2007, at the Will Rogers Memorial Center in Fort Worth. The strong financial status of Lone Star Ag Credit was reported to the stockholders and the election of the 2008 board of directors was held.

M'Lissa Kiel, Lone Star Ag Credit CFO, reported that Lone Star experienced a net income of $17.6 million for 2006 creating a $3.6 million increase in net income in 2006 over 2005. Other financial highlights for the year include a 2.28 percent return on assets and a 14.48 percent return on equity. Due to the combination of a strong member-owned cooperative association and a successful year, Lone Star Ag Credit was able to pay out a $7 million cash patronage based on 2006 earnings to their stockholders in March of this year.

"The commitment of our board of directors and the hard work and dedication of our employees allowed us to achieve a 33.5 percent increase in association loan volume in 2006. Lone Star Ag Credit continues to be the leader in providing affordable financing to rural Texas, allowing our association to be the lender of choice for all Texans, "said Daron Gates, CEO.

Three members of the board of directors were eligible for re-election, and each was selected to serve another three year term. The 2008 board of directors will include the following individuals: Bruce Duncan, Tom Johnson, David Harris, Troy Moncrief, Bobby Mathiews, David Stubblefield, Dr. Wallace Kraft, Lonnie Hammonds, Bert Pruett, Larry Stewart, Richard Gaona and Don Crawford.

For over 90 years, Lone Star Ag Credit has been a reliable source of financing for Rural America. Lone Star Ag Credit provides a unique view in today's banking environment by being a strong, customer-owned bank committed to providing courteous, accurate service through a well-trained, highly motivated staff. Lone Star Ag Credit offers a wide variety of loan programs at competitive rates including agricultural and recreational real estate, rural homes, operating, equipment, livestock, and agribusiness loans. Lone Star Ag Credit's administrative offices are located in Fort Worth with credit offices located in Sweetwater, Abilene, Stephenville, Weatherford, Cleburne, Denton, Sherman, Paris and New Boston.