Panhandle-Plains Land Bank

Panhandle-Plains Land Bank customers share in the association’s financial success because they are also the owners. Every borrower buys stock in the association equal to 2 percent of their loan, with a maximum investment of $1,000.00. The stock investment serves to further secure the loan and the association; and is retired when the loan is paid. Stock ownership allows customers to participate in the cash patronage program. This cooperative structure allows our board of directors to pass along profits to our members.

At the end of each fiscal year, the board of directors evaluates the performance and financial condition of the association. Then, if warranted, a cash patronage is determined. A cash patronage, or return of interest paid is the association’s preferred mechanism for returning profits to our customers. Since 1997, the association has reduced stock requirements, maintained low rates, and for the past 5 years paid a cash patronage. Panhandle-Plains’ cash patronage has put over $13.5 million back into our customer’s hands. That’s an average in excess of 16% return of the previous year’s interest expense.

6-Year Annual Patronage Program Performance

2010 Cash Patronage of $2,150,000 – returned 12% of every interest dollar paid in 2009 to stockholders

2009 Cash Patronage of $1,115,000 - returned 6% of every interest dollar paid in 2008 to stockholders

2008 Cash Patronage of $2,835,000 - returned 17% of every interest dollar paid in 2007 to stockholders

2007 Cash Patronage of $3,350,000 - returned 25% of every interest dollar paid in 2006 to stockholders

2006 Cash Patronage of $2,700,000 - returned 25% of every interest dollar paid in 2005 to stockholders.

2005 Cash Patronage of $1,400,000 - returned 14% of every interest dollar paid in 2004 to stockholders.

Competitive Fixed and Variable Rates
Loan plans are available that offer borrowers the option of a money-saving variable; or the security of a long term fixed rate. Both products are competitively priced and can be tailored to meet the customer’s needs. An important point to remember is that our loans do not have a balloon repayment. While the fixed rate period is optional; borrowers do not have to re-apply later during the term of the loan. Panhandle-Plains Land Bank’s business plan focuses on adding value to our membership with superior service, competitive rates, and a cash patronage. Our goal is to be the low-cost lender of choice in the Panhandle and South Plains.

IT REALLY DOES PAY TO DO BUSINESS WITH PANHANDLE-PLAINS LAND BANK!