Gross loan volume at March 31, 2009, totaled $413.92 million, a 1.4 percent increase from the $408.27 million reported at Dec. 31, 2008. Texas Land Bank ended the first quarter of 2009 with assets of $426.57 million. Credit quality remained strong, with 97.9 percent of loans classified as “acceptable” or “other assets especially mentioned.” Nonaccrual loans were 0.9 percent of total loans at March 31, 2009, compared to 1.0 percent at Dec. 31, 2008, reflecting payoffs and pay-downs of nonaccrual loans.

“Our first quarter results show that we continue to be a strong and stable source of financing for agriculture and rural America, despite weaker economic times,” said Charles P. Gant, chief executive officer.