Pictured left to right front row: Cullen Kovac, Bobby Hanks, Ben Guthrie, Mark Morgan, Stephen Austin.
Second row: Dr. Bobby Soileau, John Earles, John L. Van Mol, Jr., Kristin Guillory, Gert Hawkins and Henry Capdeboscq.
Not pictured: Ed Patrick.
Every year, the Louisiana Land Bank Board of Directors decides how much of our earnings must be maintained as capital to fund our growth and how much can be returned to customers through our patronage program. Patronage can be distributed in cash or as allocated equity.
In March 2023, Louisiana Land Bank will distribute $10.6 million in cash to its borrowers through the patronage program based on the Association’s 2022 earnings.
The more business borrowers do with the co-op, the greater their patronage refund. It is our way of returning a portion of the interest our borrowers paid on their loans.
Because of our successful financial performance in 2022, the board of directors approved the return of $10.6 million in cash to the stockholders. This disbursement occurred in March 2023.
As a co-op, Louisiana Land Bank is owned by the people it serves. This structure gives borrowers—farmers, ranchers, agribusinesses, rural homeowners and other rural landowners—a strong voice in the association’s operations and a vested interest in its success.