"Where Fillmore County News Comes First"
Wednesday, August 24th, 2016
Volume ∞ Issue ∞
- 1:16:22, Aug 22nd 2016 - Susan@batterysolutions.com - Although alkaline batteries are allowed in the trash in ... [Read More]
- 6:31:22, Aug 21st 2016 - Boo hoo hoo! - People who can't string two words together that make sense should at l ... [Read More]
- 8:53:13, Aug 20th 2016 - Aaron Swartzentruber - Why does God need to be brought in to understand this conce ... [Read More]
- 12:40:36, Aug 16th 2016 - VikeFan1 - @WTH There's no need for me to mention facts that have already been cle ... [Read More]
- 4:24:11, Aug 15th 2016 - future - I'm more pointing out the logical connection an always intervening, all know ... [Read More]
- 10:05:38, Aug 14th 2016 - WTH - @ vikefan name one fact you brought to this table. As usual you are a day late ... [Read More]
- 6:10:02, Aug 14th 2016 - Aaron Swartzentruber - So you're accusing me of robbing the due credit from God? I ... [Read More]
- 10:35:00, Aug 12th 2016 - VikeFan 1 - Ha, ha, ha. That's a good one, "left luvr." Whoever heard of using "fa ... [Read More]
- 10:00:45, Aug 12th 2016 - dump the chump - Funny how the ones who talk the most know the least. ... [Read More]
- 7:39:53, Aug 11th 2016 - left luvr - @ sv85 Are you totally incapable of independent thought ? All you do is ... [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.