Heritage Land Bank, based in Tyler with branches in Fort Worth and other locations in North, East and Deep East Texas, bought the Bred Champion Hereford at the 2018 Fort Worth Stock Show & Rodeo for $43,000.
The 18-month-old Hereford, named Carl, weighed 1,359 pounds and was exhibited by Lawson Herman of Prosper, Texas. Herman is a senior at Prosper High School and a member of FFA (Future Farmers of America).
"We felt there could be no better way to show our long-term commitment to the Fort Worth community than to invest in and support the future of our youth in the agriculture industry. That is why we paid the highest amount for any champion breed," Heritage Land Bank CEO Bill Tandy said in a news release.
It is the bank's first purchase at the show.
The bank was founded in 1917 and provides financing for farms, ranches, country homes, recreational property, livestock, equipment and agribusiness.
Herman has been showing steers in competition for the past four years and says it's been a great experience for his entire family.
Herman plans to use the money from the sale to attend Texas A&M and study agricultural science and agricultural economics.
"I am so grateful to Heritage Land Bank and everyone at the Fort Worth branch for their generous support of students like myself. This money is going to make a huge difference in my life," Herman said in the news release.