"Where Fillmore County News Comes First"
Saturday, February 13th, 2016
Volume ∞ Issue ∞
- 9:05:21, Feb 12th 2016 - VikeFan1 - Wentworth Your post contains disconnected ideas and makes little sense. ... [Read More]
- 1:21:44, Feb 12th 2016 - firstname.lastname@example.org - Well said. I cook on wkends too, leftovers during the week a ... [Read More]
- 1:07:17, Feb 12th 2016 - Kim Wenworth - @ sv85 and vikefan1- the countries I mentioned in my last post are all ... [Read More]
- 8:40:49, Feb 11th 2016 - VikeFan1 - @Wentworth "Universal health care not covered in the Constitution" ? ... [Read More]
- 1:11:48, Feb 11th 2016 - SV85 - @Wentworth If you will do an unbiased research on the positive features of th ... [Read More]
- 9:43:47, Feb 11th 2016 - Kim Wenworth - @ sv85- exactly what are the benefits of obamacare? the last time I ch ... [Read More]
- 2:39:33, Feb 9th 2016 - SV85 - Hawkeye Also your blind devotion to Fox News. Did it ever occur to you that ... [Read More]
- 2:26:35, Feb 9th 2016 - SV85 - @Hawkeye 63 And your blind loyalty to anything and anybody to the far right ... [Read More]
- 1:44:23, Feb 9th 2016 - Taylor - @Rushford Man...you have a problem with me? Bring to me personally instead of ... [Read More]
- 1:16:28, Feb 9th 2016 - Hawkeye63 - @ SV85, You are correct when you state the negative comments were mostly f ... [Read More]
Tue, Mar 8th, 2011
Posted in Business Announcements
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."
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 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.