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Texas Farm Credit Enters into Letter of Intent to Merge with Heritage Land Bank

Farmer and young son working on the farm
Graphic with text reading Board of Directors News

March 1, 2024

Dear Texas Farm Credit Stockholders,

We hope this letter finds you well as we embark on a new chapter in the history of Texas Farm Credit. As you may know, we recently entered into a joint management agreement with Heritage Land Bank and would like to share with you some important developments that could shape the future of our cooperative.

On February 27, 2024, the board of directors for Texas Farm Credit chaired by Bobby Hobson, and the board of directors for Heritage Land Bank chaired by Kevin Sampson, each unanimously agreed to enter into a letter of intent to pursue a merger of the associations. This kicks off an estimated nine-month process that includes due diligence and finalizing an agreement and plan of merger, followed by a regulatory review and a request for approval, and lastly, with all the aforementioned requirements being met, a stockholder meeting to vote on the merger. Assuming the merger receives regulatory and stockholder approvals, the merged association would begin operations as early as December 1, 2024, under the name and leadership of Texas Farm Credit.

Our collaboration began with a shared vision of protecting agricultural prosperity in rural Texas, and the decision to pursue a merger with Heritage Land Bank marks the first milestone in that collective journey. This strategic alignment is rooted in our shared values of integrity, excellence, and respect, ensuring that we continue to uphold the highest standard of responsibility to our stockholders. Our devotion to providing excellent service remains unwavering, and our dedicated staff will continue to serve you with the same warmth and expertise you’ve come to expect.

As we embark on this journey, our commitment to transparency, integrity, and the well-being of our stockholders remains steadfast. The interests of our members and employees will continue to be our top priority as we work diligently to ensure a seamless transition if the merger goes forward.

Your continued trust and loyalty have been instrumental in shaping Texas Farm Credit into the organization it is today, and I am confident that together, we will continue to build a strong and resilient organization that is well-positioned for long-term success.


Bobby Hobson
Board of Directors, Chairman
Texas Farm Credit

Mark Miller
Chief Executive Officer
Texas Farm Credit