"Where Olmsted County News Comes First"
Online Edition
Saturday, May 25th, 2013
Volume ∞ Issue ∞
- 5:36:49, May 15th 2013 - Frank Hawthorne - Though I hated to see you reference Glenn Beck by name [Three Times ... [Read More]
- 11:42:07, May 10th 2013 - yenken - I feel very sorry for those who have commented do far, as when you stand fa ... [Read More]
- 12:10:25, Apr 26th 2013 - Frank Hawthorne - Mr. "Cabtrom's" garbage-out[burst]--in response to Ms. Reisner's w ... [Read More]
- 9:51:50, Apr 24th 2013 - jeff pischke - To Jerry Grehl, the number to the fillmore county sheriffs office is 7 ... [Read More]
- 9:27:24, Apr 22nd 2013 - Cabtrom - Blah blah blah, garbage in garbage out! ... [Read More]
- 7:00:49, Apr 11th 2013 - Donald Pierce - Col. Stan Gudmundson hit most of the important nails squarly on the h ... [Read More]
- 12:44:54, Apr 4th 2013 - Frank Hawthorne - My compliments to Ms. Hammer for giving us well-crafted "Rachel Rea ... [Read More]
- 5:09:06, Apr 3rd 2013 - truthiness - I see this is dated April 1. That explains it! ... [Read More]
- 12:04:33, Apr 3rd 2013 - Frank W. Hawthorne - Say WHAT?!? Stan's American-Pie [In SKY] is Falling--Not Again? ... [Read More]
- 12:40:21, Mar 29th 2013 - Jacob - It's a shame that so few people care about making their voices heard. If we ... [Read More]
29
How will you keep your kids busy this summer vacation?
AgStar Financial Services announces year end results
Mon, Mar 11th, 2013
Posted in Business Announcements
Posted in Business Announcements
Comments
MANKATO, MN - AgStar Financial Services, a value-added financial services company owned by its client-stockholders, reported year-end after-tax earnings of $107 million, resulting in $55.3 million in allocated patronage for the year as of December 31, 2012.
“We are pleased with our strong performance in 2012,” stated Paul DeBriyn, president and CEO of AgStar Financial Services. “These earnings are a result of many factors including strong client satisfaction and loyalty results, increased interest income, a one-time insurance premium refund and an increase in patronage earned from AgriBank, FCB.” In addition, AgStar achieved record-breaking results in the home mortgage division and worked hard to substantially reduce the risk in the portfolio.
The team of professionals at AgStar remains committed to farmers and agribusiness which is proven with the world class client satisfaction and loyalty. “We were excited to close the year with record client loyalty and our client satisfaction results,” stated DeBriyn. “Our goal is to continue to provide our clients with the industry expertise and unparalleled service they expect. Introducing new initiatives like the AgStar Edge, a resource center offering Education, Development, Growth and Expertise for our clients this past year is just one of the ways we look to add increased expertise to our client relationships.”
As a way to share profits with their client-stockholders, AgStar implemented a patronage program in 1998. Since the program’s inception, AgStar has allocated more than $392 million in patronage dividends to qualified stockholders. In 2012, AgStar was able to retire and return to its stockholders the remaining patronage allocations for 2002 and 2003 totaling over $40 million.
“We’re thankful for our clients, stockholders and team members that contributed to a successful year,” continued DeBriyn. “I would like to thank our clients for their business, our stockholders for their commitment and our team for their focus on client service.”
About AgStar:
AgStar Financial Services, ACA, headquartered in Mankato, Minn., employs more than 600 full-time team members. The company is part of the national Farm Credit System and has a public mission to serve 69 counties in Minnesota and northwest Wisconsin. AgStar’s industry specialization, client segments and market delivery systems result in diversification nationwide. The company has expertise in the corn, soybean, swine, and dairy and bio-energy industries. AgStar has developed successful programs in loans, leases, crop insurance, consulting and rural home mortgages. As a value-added financial services cooperative, AgStar allocates patronage dividends to its 15,000 stockholders. The company is also committed to giving back to rural residents, organizations and communities through AgStar’s Fund for Rural America. Visit www.AgStar.com for more information.
“We are pleased with our strong performance in 2012,” stated Paul DeBriyn, president and CEO of AgStar Financial Services. “These earnings are a result of many factors including strong client satisfaction and loyalty results, increased interest income, a one-time insurance premium refund and an increase in patronage earned from AgriBank, FCB.” In addition, AgStar achieved record-breaking results in the home mortgage division and worked hard to substantially reduce the risk in the portfolio.
The team of professionals at AgStar remains committed to farmers and agribusiness which is proven with the world class client satisfaction and loyalty. “We were excited to close the year with record client loyalty and our client satisfaction results,” stated DeBriyn. “Our goal is to continue to provide our clients with the industry expertise and unparalleled service they expect. Introducing new initiatives like the AgStar Edge, a resource center offering Education, Development, Growth and Expertise for our clients this past year is just one of the ways we look to add increased expertise to our client relationships.”
As a way to share profits with their client-stockholders, AgStar implemented a patronage program in 1998. Since the program’s inception, AgStar has allocated more than $392 million in patronage dividends to qualified stockholders. In 2012, AgStar was able to retire and return to its stockholders the remaining patronage allocations for 2002 and 2003 totaling over $40 million.
“We’re thankful for our clients, stockholders and team members that contributed to a successful year,” continued DeBriyn. “I would like to thank our clients for their business, our stockholders for their commitment and our team for their focus on client service.”
About AgStar:
AgStar Financial Services, ACA, headquartered in Mankato, Minn., employs more than 600 full-time team members. The company is part of the national Farm Credit System and has a public mission to serve 69 counties in Minnesota and northwest Wisconsin. AgStar’s industry specialization, client segments and market delivery systems result in diversification nationwide. The company has expertise in the corn, soybean, swine, and dairy and bio-energy industries. AgStar has developed successful programs in loans, leases, crop insurance, consulting and rural home mortgages. As a value-added financial services cooperative, AgStar allocates patronage dividends to its 15,000 stockholders. The company is also committed to giving back to rural residents, organizations and communities through AgStar’s Fund for Rural America. Visit www.AgStar.com for more information.
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