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Remaining a Dependable Source of Credit
That is not to say that everything has been perfect. We’ve witnessed adverse weather conditions at times. Input costs have continued to escalate. Commodity prices have been unusually volatile, and some ag sectors have suffered. We’ve had our share of difficulties, but our high level of growth has been sufficient to compensate for them. When one area of our portfolio has been weak, another has been strong. Now, we have entered a new phase. The weakness of the economy and volatility in the financial markets have put a damper on our growth. Our responsibility includes safeguarding the financial integrity of the association, and, at the present time, that means exercising caution and growing more slowly. It also means that we must keep a close eye on our current portfolio and watch for signs of trouble. At Panhandle-Plains Land Bank, we have a mission to serve agricultural producers and rural property owners. Our resolve to fulfill that mission is strengthened in times like these. The current economy has created a financial struggle for some agricultural producers. If you are facing hard times, we understand and will do our best to work with you in your particular situation. We also will work hard to protect your investment in Panhandle-Plains Land Bank, so that we can continue to be a dependable source of credit in the future, even when other lenders are pulling back. Sincerely, Robert
R. Williams, Jr. |
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Over the last few years, Panhandle-Plains Land Bank has had tremendous
success. For the most part, conditions have been aligned well for
rapid growth. It has been a fun and exciting time to be in agricultural
lending. We’ve been able to grow the association and, equally rewarding,
we have had the opportunity to watch many of your operations
grow and prosper.
