|Effective September 1, 2000, the Sabine River Federal Land Bank Association of Sulphur Springs, assumed authority to make and participate in long-term real estate mortgage loans. The association will be known as The Land Bank of Sulphur Springs, FLCA.|
Effective July 1, 2004, FCA chartered a new production credit association, known as Legacy, PCA, which consolidated with The Land Bank of Sulphur Springs, FLCA to form an ACA known as Legacy Ag Credit, ACA. The FCA also approved an ACA subsidiary structure by amending Legacy, PCA’s charter and the FLCA’s charter to make them subsidiaries of the ACA. As a subsidiary, the FLCA’s name was changed to Legacy Land Bank, FLCA. All three associations are subject to FCA Conditions of Approval, also effective July 1, 2004. Pursuant to FCA’s Conditions of Approval, FCA will treat the ACA and its subsidiary associations on a consolidated basis for regulatory purposes as FCA deems appropriate.