"Where Fillmore County News Comes First"
Monday, October 24th, 2016
Volume ∞ Issue ∞
- 4:40:26, Oct 21st 2016 - Thomas E. H. - @What? On the contrary, it does take commitment to undermine legisl ... [Read More]
- 6:58:41, Oct 21st 2016 - LOLZ - I know, let's worry about coal miners jobs. To hell with the rest of the world ... [Read More]
- 1:03:04, Oct 20th 2016 - Tuner - Davids working to lower health care prices is a joke... He is working in inte ... [Read More]
- 11:04:10, Oct 19th 2016 - - weird, he is concerned about the budget but two members of the council tried nume ... [Read More]
- 3:15:21, Oct 19th 2016 - Please not again! - I wish he would have said how he spent all of the First Responder ... [Read More]
- 3:09:30, Oct 19th 2016 - What? - I don't think anyone needs to be committed to undermine MNsure. It is a joke ... [Read More]
- 1:50:43, Oct 19th 2016 - Turner - A reminder: Jesus hung out with and accepted prostitutes and thieves. Discr ... [Read More]
- 1:41:12, Oct 19th 2016 - Turner - This is spot on. We need new leadership! Leadership that will work for the ... [Read More]
- 9:01:06, Oct 19th 2016 - firstname.lastname@example.org - I just want to thank these wonderful people for coming t ... [Read More]
- 4:22:41, Oct 17th 2016 - Thomas E.H. - I don't see how this view differs from Davids' opponent, Thomas Trehus. ... [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.