Results of Stockholders Vote Announced in Merger of AgSouth Farm Credit and Carolina Farm Credit
AgSouth Farm Credit and Carolina Farm Credit Have Merged
STATESVILLE, NC (April 3, 2023) – AgSouth Farm Credit Chairman of the Board, Frank Ables, announced the results of the stockholder vote on the Merger of AgSouth Farm Credit, ACA (“AgSouth”) with Carolina Farm Credit, ACA (“Carolina”).
At a duly-called special meeting of stockholders held on February 15, 2023, the voting stockholders of AgSouth and Carolina approved the Merger. Final approval was secured by the Farm Credit Administration (“FCA”) and the Merger became effective April 1, 2023.
AgSouth Farm Credit, ACA is the name of the merger entity, and each Carolina Farm Credit stockholder will become a stockholder of AgSouth. The Board of Directors has named Vance Dalton as President and CEO of the merged cooperative. The Association will cover 147 counties across Georgia, North Carolina and South Carolina. The Association will support more than 24,000 members and employ over 460 across 53 offices.
AgSouth Farm Credit is a member-owned cooperative and relies on their members to make decisions to strengthen and sustain the Association into the future.
AgSouth Farm Credit provides loans for land, equipment and production agriculture; crop insurance; leasing; and home mortgages. AgSouth is an equal housing lender and an equal opportunity provider