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AgStar Board Approves Cash Patronage Payout Retiring 2001 allocations of $13.9 million


Thu, Jan 27th, 2011
Posted in Business Announcements





MANKATO, Minn. (January 25, 2011) - AgStar Financial Services' Board of Directors has approved the retirement of the 2001 patronage allocations. With the 2001 retirement, AgStar will have distributed $13.9 million in earnings to nearly 9,000 eligible stockholders.



"We're excited that our financial strength has allowed us to retire the 2001 patronage allocations," stated Lowell Schafer, Chairperson of AgStar's Board of Directors. The program adds value to stockholders who already benefit from AgStar's expertise and competitive financing. "As a financial cooperative, we're pleased to share a portion of profits with the individuals who have helped build our success. This cash patronage retirement is just one of the many ways that ownership pays for AgStar stockholders."



The patronage program was implemented in 1998 and targets a 7-10 year retirement timeframe of non-qualified dividends. Yearly allocations are based on company earnings and the amount of products or services a stockholder purchases from AgStar during the year. AgStar has allocated $259 million in patronage dividends and retired over $40 million to qualified stockholders.

About AgStar:

AgStar Financial Services, ACA, headquartered in Mankato, Minn., employs more than 650 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 rural home mortgages. As a value-added financial services cooperative, AgStar allocates patronage dividends to its 13,000 stockholders. Visit www.AgStar.com for more information.

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Managing director resigns from Commonweal

Sun, Jan 2nd, 2011
Posted in Business Announcements

LANESBORO, MN - The Board of Directors of the Commonweal Theatre, located in historic downtown Lanesboro, has received a letter of resignation from its Managing Director, Eric Bunge, at the request of the Executive Committee of the Board of Directors ..... 
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There's a new name in the city of Harmony

Sat, Dec 4th, 2010
Posted in Business Announcements

Andrew Batstone is new to southeastern Minnesota, but he is no stranger to the cold winters and crazy climate of the north. Batstone was born and raised in Ontario, Canada, and he graduated from the University of North Dakota with a degree in accoun ..... 
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New director brings something new to Lanesboro Public Library

Sat, Dec 4th, 2010
Posted in Business Announcements

The Lanesboro Public Library has recently hired Tara Johnson as its library director. Johnson brings a wealth of work experience and enthusiasm to the position. She is excited to continue the library's current programs and to also set goals for incr ..... 
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Haugerud named General Manager of SMG Web Design

Sat, Nov 20th, 2010
Posted in Business Announcements

On October 17, 2010, SMG Web Design was born with the hiring of Sheena Suckow -- the first official employee of this hopeful business venture.

By April of 2010, SMG Web Design was encouraged enough by the demand for website development and h ..... 
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Local lineworkers travel to northern Wisconsin to help restore power

Sat, Nov 20th, 2010
Posted in Business Announcements

Rushford, MN (1:30 p.m. Oct. 27, 2010)- Lineworkers from Tri-County Electric Cooperative (TEC) left at 12:30 p.m. today to assist Bayfield Electric Cooperative in restoring power due to outages caused by last night's high winds.

Bayfield has ..... 
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Preston Public Utilities offers rebates for LED holiday lighting

Sat, Nov 20th, 2010
Posted in Business Announcements

This holiday season, Preston Public Utilities is once again offering their electricity customers rebates up to $12 for each string or decoration of energy-efficient LED holiday lighting they purchase through the end of the year. Preston Public Utili ..... 
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Loans Available for Flood-Damaged Businesses ~DEED makes $10 million available in southern Minnesota~

Tue, Nov 9th, 2010
Posted in Business Announcements

ST. PAUL - Businesses that sustained damages in floods that struck southern Minnesota in September may be eligible for $10 million in loans from the Minnesota Investment Fund (MIF) offered by the Minnesota Department of Employment and Economic Develo ..... 
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Chosen Valley Community Foundation fall grant applications available online

Mon, Oct 25th, 2010
Posted in Business Announcements

The Chosen Valley Community Foundation (CVCF) 2010 fall grant applications are now available online at www.cvcfoundation.com.

CVCF fall grants are awarded for the betterment of individuals that reside in the Chatfield community school distr ..... 
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