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AgStar Financial Services Posts Solid 2010 Performance Earns $66.7 million in income


Tue, Mar 8th, 2011
Posted in Business Announcements





MANKATO, Minn. (March 7, 2011) - AgStar Financial Services, a value-added financial services company owned by its client-stockholders, today reported year-end earnings as of December 31, 2010. The company recorded a solid performance, with net after-tax earnings of $66.7 million, a double digit increase over 2009 results. These 2010 earnings will result in a patronage dividend allocation of $36.8 million to stockholders in 2011.



Strong crop and hail insurance revenues contributed to 2010 earnings, as did a substantial one-time insurance refund. In addition, AgStar significantly reduced provision expenses for loan losses due to the stabilization in several key sectors. "We are proud to report AgStar's earnings and key financial performance measures improved over 2009," stated Paul DeBriyn, AgStar President and CEO. "Throughout the year, several key segments in agriculture continued to improve, which contributed to our strong results." AgStar's capital is the strongest in company history. The company's total capital surplus level far exceeds the regulatory minimum.



As a client-owned cooperative, AgStar returns profits to qualified stockholders in the form of a unique patronage program, which was implemented in 1998. Through this program, 55% of AgStar's earnings are allocated and returned to stockholders. Since its inception, AgStar has allocated $296 million in patronage dividends and retired over $40 million to qualified stockholders. Most recently, AgStar retired 2001 allocations of $13.9 million to client-stockholders.



"There's nothing better than being able to give back to our stockholders," stated DeBriyn. "We are passionate about our cooperative structure. We not only give our stockholders a voice in the organization; we believe they deserve a paycheck when our collective efforts are profitable."

About AgStar:

AgStar Financial Services, ACA, headquartered in Mankato, Minn., employs more than 590 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, dairy and bio-energy industries. AgStar has developed successful programs in loans, leases, crop insurance, tax services, accounting, consulting and rur .....
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Sviggum Joins AgStar Financial Services Board of Directors

Wed, Mar 2nd, 2011
Posted in Business Announcements





MANKATO, MINN. (March 1, 2011) - Former Speaker of the Minnesota House of Representatives and Commissioner of the Department of Labor and Industry, Steve Sviggum has been appointed to the Board of Directors of AgStar Financial Servic ..... 
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CEDA announces its officers of the board for 2011

Fri, Feb 25th, 2011
Posted in Business Announcements

Community and Economic Development Associates (CEDA), formerly known as the Southeastern Minnesota Development Corporation, a private non profit community and economic development agency, has announced its officers of the board for 2011.

F. ..... 
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Volunteer drivers being sought in Fillmore County

Mon, Feb 7th, 2011
Posted in Business Announcements

ROCHESTER, MN - Jan. 11, 2011 - Road to Recovery is a volunteer driver program designed to provide transportation for cancer patients who need help getting to and from their cancer treatments and doctor appointments. The American Cancer Society is l ..... 
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Buyer beware of energy saving product pitches

Mon, Feb 7th, 2011
Posted in Business Announcements

Rushford, Minn.- An invitation for a free dinner to listen to a presentation on energy saving products may sound harmless, but it has led to deception and the Better Business Bureaus in two states chasing an energy products company.

Tri-Coun ..... 
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Student drivers to receive training on power line safety

Mon, Feb 7th, 2011
Posted in Business Announcements

Rushford, Minn.- Would you know what to do if you were in a car accident involving power lines? Student drivers in southeast Minnesota will, courtesy of DVDs donated by Tri-County Electric Cooperative (TEC) to local schools and driver's training ins ..... 
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Tri-County electric launches youth tour contest

Mon, Feb 7th, 2011
Posted in Business Announcements

Rushford, MN- Area junior and senior high school students have until Feb. 27 to take part in a contest to win an all expense paid trip to Washington D.C. for the 2011 Rural Electric Youth Tour June 11-16, courtesy of Tri-County Electric Cooperative ..... 
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Arc Southeastern MN annual awards banquet

Mon, Feb 7th, 2011
Posted in Business Announcements

Arc Southeastern Minnesota recently held its Annual Awards Banquet and annual meeting at the Eagle Bluff Learning Center, in Lanesboro, MN.

The following people were elected 2011 officers of the Arc Southeastern Minnesota Board of Directors ..... 
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Local propane company to have new owner in 2011

Mon, Feb 7th, 2011
Posted in Business Announcements

Rushford, Minn.- The new year brings a change in ownership of Country Comfort, a limited liability company, which provides propane service to customers in northwest Wisconsin and under the business name of Selectus Energy in southeast Minnesota.
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