OCR Text |
Show Cedar City Farm Loan Association Office Notes Growth Glen Kenney, secretary-manager of the Cedar City National Farm Loan Association, announced an-nounced today that in 1956 long-term real estate loans amounting to $19 million (including (in-cluding 514 million of refinanc lng) were made by the Federal Land Bank of Berkeley to 3,200 farmers and ranchers In California Cali-fornia Arizona, Utah and Nevada. Neva-da. This co-operative credit Institution Insti-tution is owned by the 52 national na-tional farm loan associations whose members use the credit facilities of the bank. Mr. Kenney reports that the loan volume last year was one of the largest In the bank's 40 years of co-operative lending. The Cedar City National Farm Loan Association, serving Millard, Mil-lard, Beaver, Iron and Washington Washing-ton counties, closed loans In the amount of $474,100 during the past year. At the end of 1956 the Berkeley Berke-ley bank had $130 million outstanding out-standing In long-term farm real estate loans, an increase of $24 million over the previous year. Of this sum, $1,592,700 represents loans In this area made through and service by the Cedar City As-sociatlon. As-sociatlon. During this sam- period per-iod the bank's capital stork and surplus lnrreud SI -3 million to a total of $25.3 million. |