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Louisiana Land Bank Distributes $2.6 Million in Patronage

Louisiana Land Bank recently distributed $2.6 million in cash patronage to customers. The amount was approved by the board of directors and was based on the association’s solid financial performance in 2008.

“Patronage payments like this one are an essential aspect of the association’s cooperative business philosophy,” said Darrel Jans, chief executive officer. “We are pleased to share our earnings with our borrowers and are confident the patronage program will continue to be an important part of our business plan for the future.”

This is the eleventh consecutive year that Louisiana Land Bank has declared a dividend or patronage payment to its customers. With this year’s distribution, the co-op has returned over $37 million in stock refunds, dividends and patronage to stockholders since 1996.

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