|
|
|
|
|
|
|
A Chat With The Chief
by Dave Owens, President & CEO | 2012: Year in Review
Farm Credit Services of Illinois continues to post exceptional financial performance. The drought, high farmland prices, and concern over increases in capital gain taxes all contributed to strong loan demand during 2012. The overall loan portfolio grew by 13.3% at year-end with a total of owned and managed loans of $3.5 billion. And we are happy to report credit quality did not suffer as a result of the exceptional growth; acceptable credit quality was at 99.3% at the end of the year. We have been conservative in our lending practices and this has positioned the association very well for any future adversity. The association's success is a direct reflection of the owners' success and your willingness to fully utilize the cooperative's services.
|
|
Board Elects New Chair & Vice Chair |
The Farm Credit Services of Illinois board of directors elected Karen Neff, of Belleville, as the new chair and Larry Hasheider, of Okawville as the new vice chair at the board's 2013 organizational meeting in January in Effingham.
|
|
|
|
NTERESTing Times: A Longer Term Perspective on Farmland Values
By Tom Tracy, Senior Vice President | 
Just as you often view your farm business as multigenerational, we view Farm Credit's role in supporting you and Illinois agriculture as very long-term. So when we assess asset values, we utilize longer term prices for commodities and longer term average capitalization rates to give us a value of farmland that is longer term. This is commonly referred to as the "sustainable value" approach.
While the land market continues to set records for price, this sustainable value approach has led us to create a ceiling on how many dollars per acre we are willing to lend. Our ceiling currently for this mid quality farmland is $5,000 an acre which is a reasonable discount to the sustainable value calculated above. As we discuss this with our staff and with you - our owners - we hear overall support for this approach.
Read the entire "INTERESTing Times" |
|
Financial Snapshot | |
|
|
Introducing Farm Credit's 2013 Agriculture Scholars | |
Learn More About our 2013 Scholars |
| Customer Connection: Knebel Circle K Farms, Inc. in Pocahontas, Illinois | |
Meet three generations of the Knebel Family who have earned a reputation of being Masters of Milk Production. Knebel Circle K Farms, Inc. has made the list of Illinois' Top Ten milk producing dairy herds for five of the past ten years. Currently the Knebel's 100 cows boast a Rolling Herd Average over 26,700 pounds per cow. They milk two times a day and maximize their production with excellent feed quality and nutrition, outstanding cow comfort, and top dairy genetics. (Pictured from L to R is Tanner, Jerry, Jace, and Jeremy Knebel.)
 | | WATCH THE VIDEO - Knebel Circle K Farms |
|
Staff In The Spotlight: Joe Hogan, Senior Certified Appraiser
The longest serving employee at Farm Credit Services of Illinois | |
"My job with Farm Credit has always allowed me to get away from the desk and out into the countryside. I'm not a farmer, but I do enjoy being out among them. There are no better people with which to work."
Joe Hogan just celebrated his 40th work anniversary at Farm Credit on March 19. He is based in the Effingham regional office, resides in Shelbyville, and serves as a senior certified appraiser.
Joe grew up on a Piatt County farm (between Ivesdale and Monticello) and is the second oldest of twelve children. After attending St. Joseph's Catholic grade school in Ivesdale, Joe moved to the Notre Dame campus in South Bend, Indiana, and attended, then graduated from Holy Cross Seminary High School. He was drafted by the U.S. Army in late 1965 and served two years as a medic earning the rank of Spec5. Joe spent most of his two years at Fort Carson, Colorado, and says it was just "dumb luck" he was never sent to Vietnam. After completing his military service, he enrolled at Parkland College and then transferred to the University of Illinois. Joe earned a bachelor's degree in agriculture and a master's degree in agricultural economics.
Joe celebrates both his 40th work anniversary and his 40th wedding anniversary in 2013. He and wife, Nancy, have three grown children and four grandchildren. They moved to Shelbyville in the fall of 1973 and have been rooted in Shelby County ever since. Joe has been an Illinois Certified General Appraiser since 1992 and a member of the American Society of Farm Managers and Rural Appraisers since 1995.
|
| Price Check | |
The following is a sampling of land sales results reported from various farm real estate auctions that were held in the past 90 days throughout the Farm Credit Services of Illinois geography:
 
|
|
2013 Community Improvement Grants Program
Sharing a Vision for Healthy Communities | |
Farm Credit awarded $250 grants to fifty-one 4-H clubs and FFA chapters implementing projects in their communities to make them better places to live.
Click here to view the 2013 Community Improvement Projects |
|
Young Farmer Retreat | |
Farm Credit hosted 62 young farmers in St. Louis for two days of learning, sharing, and networking. The inaugural Young Farmer Retreat featured Dr. David Kohl, Professor Emeritus in Agricultural Economics at Virginia Tech.
|
|
Ribbon Cutting For New Sherman Office | |
Farm Credit hosted a ribbon cutting ceremony and open house at the newly constructed regional office in Sherman on February 20.
|
|
Sign Up & Win One of Four WR-333 Ambient Weather Emergency Radios
Drawing to be held Friday, April 5, 2013. |
Here's a chance to win an "essential" to keep handy during the Illinois storm season. The WR-333 is a Digital AM/FM NOAA Weather Alert Radio, a powerful 3 LED flashlight, and six way charger - including a hand crank and solar panel charger. You can fully charge the WR-333 through the USB/AC/DC adaptors and then charge cell phones, mp3 and mp4 players, and USB devices. (Retail Value $90)
Congratulations to the winners of the Road Warrior Deluxe winter roadside emergency kits given away in the drawing after the Winter Edition of "essentials":
- Roger Arends of Melvin (Ford County)
- William Ballard of Winchester (Scott County)
- Tim Robertson of Creak Springs (Williamson County)
- Carl Schumacher of Sigel (Shelby County)
Special thanks to all of the "essentials" readers who provided responses to the question:
"As you prepare for the new year, what is one issue or challenge facing either the Illinois agriculture industry or your own farm business that concerns you most?"
Nearly 200 responses covered issues and challenges ranging from politics and regulation to the weather and soil moisture levels and from farm profitability to farm estate planning.
Check out the various responses. |
| Welcome Aboard | |
Meet the newest members of the staff team who joined Farm Credit Services of Illinois since December 15, 2012.
|
| FCS Team Milestones | |
A special salute to these employees who reached significant milestones in their years of service to Farm Credit since December 15, 2012 :
|
| Want To Visit About Interest Rates, Loan Products, or Crop Insurance? | Make an online request to get a quote on today's interest rates or request that a loan officer or crop insurance specialist contact you by filling out a Get A Quote form.
|
|
Thank you for reading Farm Credit "essentials". We welcome your candid feedback and suggestions for future editions. Email your reactions and ideas to info@fcsillinois.com. |
|
|
|
|
