Central Texas Farm Credit, ACA recently held the area stockholders meetings in Brownwood, Coleman, Haskell, San Angelo, and Brady. Voting stockholders of the Association elected four directors to serve three-year terms. Those elected were Larry Damron, Cody Richmond, A. Wayland Shurley, and Mickey Dillard. Current Board members in addition to those elected, include Chris West, Philip W. Hinds, Mike Finlay, Jerry Don Klose, Brent M. Heinze, Robby Halfmann, and Glenn T. Miller.
The stockholders also elected the Nominating Committee to serve in 2011. Those elected were Gregory H. Gerngross, Michael A. Donham, Dale Middlebrook, J. E. Powell, and Virgil Y. Middleton, Jr. The Alternate members are Randall T. Foster, Larry Traweek, Donald L. Ballard, Bernard Fuchs, and Douglas Hemphill. The 2nd Alternate members elected are Bryan Fanner, William E. Sanders, Robert D. Aycock, Wayne Klattenhort, and Billy Wayne Kirkpatrick.
James Isenhower, CEO, informed the local stockholders of the association’s financial condition. The Association has worked to keep the interest rates as low as possible for the borrowers. The Association returned a patronage in the amount of $2.5 million dollars to the stockholders. In 2009 the Association closed 162 loans for $35.8 million.
With the restructuring of the Association as an Agricultural Credit Association or ACA the Association is able to fund short term loans for intermediate and short-term operating loans secured by livestock, equipment, or other collateral. Having the ability to provide credit to our stockholders for all of their agricultural needs not only provides the Association with expanded opportunities for growth and diversification, but also provides the stockholders with an additional premier source of stable and competitive financing. At the end of 2009 the Association closed 95 loans for $19.1 million dollars for short term loans.
We appreciate all for taking time to attend the meetings. This year as a way to say thank you to our borrowers, a drawing was held. All names of stockholders attending our meetings were entered into a drawing. Two $500 cash prizes were awarded. The winners were Richard O. Newman from Anson, Texas and Johnnie C. Oswald from San Saba, Texas.
Central Texas Farm Credit, ACA consists of branch offices in Coleman,Brownwood, Comanche, Haskell, San Angelo, and Brady with 22 employees to serve approximately 2,800 customers in 20 counties in West and Central Texas,