TYLER, Texas — The Heritage Land Bank board of directors has announced that it will return a cash dividend of $4.3 million to member-borrowers in north and east Texas.
“We will return more than $4.3 million of our 2021 net income to eligible customer-owners,” said Bill Tandy, chief executive officer of Heritage Land Bank. “This is equal to 45% of our net income, a record level of return that reflects our ongoing commitment to share our cooperative’s success with our member-borrowers.”
Heritage Land Bank has been returning a portion of its profits to borrowers for 28 of the last 29 years, a total of $51.8 million in cash dividends paid since 2000. Dividends are paid in full and in cash annually, enabling borrowers to invest in their operations, families, and communities.
A full summary of Heritage Land Bank’s 2021 financial performance is available in the 2021 Annual Report, available for download at https://heritagelandbank.com/
About Heritage Land Bank
Heritage Land Bank provides innovative financing solutions other banks simply can’t offer when it comes to rural real estate, agricultural operations, agribusinesses, and country homes. Founded in 1917, Heritage Land Bank is a member of the Farm Credit System, a nationwide network of rural lending cooperatives. With headquarters located in Tyler, Heritage Land Bank operates across 16 Texas counties ranging from Dallas-Fort Worth to Lufkin. To learn more, visit heritagelandbank.com.
–Heritage Land Bank