Farm Credit Update

North Carolina associations sponsor 2009 Ag Development Forum

From the Asheville, NC Citizen-Times:

With the national economy in a deep recession, it's only fitting that the economic outlook for agriculture will be the focus of the 2009 Ag Development Forum.

Economist Michael Walden of N.C. State University will be the featured speaker at the forum, which runs from 10 a.m. to 12:30 p.m. on Thursday, Feb. 5 at the Holshouser Building on the State Fairgrounds. Walden will explain how the economy will affect agriculture statewide and nationally this year.

Also, a panel of experts will discuss the credit outlook for farmers, and Agriculture Commissioner Steve Troxler will deliver his first-ever State of Agriculture address.

Farmers and others interested in farm policy are invited. Admission is free, and lunch will be provided. Registration is requested. To register, visit www.ncagr.gov/agforum.

The N.C. Department of Agriculture and Consumer Services, Carolina Farm Credit and Cape Fear Farm Credit are sponsoring the event.

AgCarolina Financial awards $21,000 to eastern North Carolina programs

AgCarolina Financial awarded $21,000 in grants to ten organizations through their corporate-giving program, the Fund for Rural North Carolina.  The grants will help the recipients carry out programs that specifically benefit farmers and rural residents in eastern North Carolina where the Association conducts business.

Association CEO, Gene Charville states, “AgCarolina Financial is committed to enhancing the quality of life and future opportunities for Eastern North Carolina rural residents and their communities.  Through this Fund, we can impact a broad spectrum of organizations in our service area that support rural North Carolina.” [News release: Download 2008 GrantRecipients ]

Federal Land Bank of North Alabama names new CEO

The Federal Land Bank Association (FLBA) of North Alabama has named Ben Gore as chief executive officer, effective Jan. 2. Gore replaces retiring CEO David Howse.

After 36 years with the Farm Credit System, including 20 years as the CEO, Howse plans to retire at the end of February. Until then, he will remain with the association to assist with the transition of leadership.

Gore has worked for the Land Bank for 32 years in the association’s Albertville branch, where he has overseen significant growth. He began his career as a loan officer trainee, and for the past 20 years, he was the Albertville branch manager. During that time, the branch office grew its loan volume from $20 million to $200 million and more than doubled its staff.

“The board has made an excellent choice in selecting Ben Gore as our new CEO to lead our association as we transition into the future and become a full-service lender,” said Board Chairman Loyd Rutherford. “In addition, I congratulate David on reaching a milestone in his career and wish him God’s speed in his well-deserved retirement.”

Land Bank South changes name, expands services

Land Bank South became a full-service lender on Jan. 1, 2009, and changed its name to Southern AgCredit to reflect its expanded lending authority. The cooperative lender specializes in rural land loans and now also offers agricultural operating loans.

“Our stockholders overwhelmingly approved the plan to add short-term lending to our toolbox of financing solutions,” said Joe Hayman, Southern AgCredit chief executive officer. “The board and the staff are committed to providing nothing less than first-class customer service. We believe that this new line of competitive loan products enhances our ability to meet the needs of our customers.”

Southern AgCredit now finances all aspects of agriculture and rural property, including loans to agribusinesses. The cooperative has $535 million in loan volume and provides rural financing in 53 counties in the lower half of Mississippi.

AgriLand Farm Credit expands to 12 locations

AgriLand Farm Credit recently opened a new branch office in Linden. Headquartered in Tyler, AgriLand now has branch offices in Athens, Beaumont, Bonham, Clarksville, Fairfield, Gainesville, Kingwood, Linden, Nacogdoches, Paris, Sulphur Springs and Tyler.