AgSouth Farm Credit Reports Significant Profits in First Quarter
AgSouth Farm Credit CEO Pat Calhoun recently announced that the customer-owned cooperative had net earnings of more than $7.957 million in the first quarter of 2017.
He states that, “While earnings are slightly below last year at the same time, they remain strong for the association. We have also seen a slight increase in loan demand in the first quarter. ”
CFO Lisa Gunter adds, “Land prices are good and while interest rates have increased slightly, they are still low. We are on the path to a healthy return of profits to our members in 2017.”
Earlier this year the association returned approximately $28 million in cash in to its stockholders.
AgSouth Farm Credit provides loans for land, equipment and production agriculture; crop insurance; leasing; and home mortgages. The association serves 93 South Carolina and Georgia counties and is headquartered in Statesboro, Ga.
For more information regarding AgSouth’s income, call AgSouth CFO Lisa Gunter at 912-489-4842 extension 2663.