"Where Fillmore County News Comes First"
Saturday, September 20th, 2014
Volume ∞ Issue ∞
- 1:41:34, Sep 19th 2014 - yorty - Parade is at 11 am ... [Read More]
- 1:00:41, Sep 19th 2014 - - Visited the facebook page of The Fillmore County Journal and was unable to find mo ... [Read More]
- 10:46:40, Sep 19th 2014 - KingslandGrad95 - Gussie, so what if the "Deputy" was asleep? Maybe he was tired. Y ... [Read More]
- 10:40:04, Sep 18th 2014 - Gussie - Well Kingslandgrad for starters how about a few nights ago on my way to wor ... [Read More]
- 9:45:10, Sep 17th 2014 - email@example.com - Okay they gave you the we want to help the world and full of ... [Read More]
- 11:05:24, Sep 16th 2014 - - Good and informative but wish it stated the TIME of the parade! Coming from out-o ... [Read More]
- 1:05:53, Sep 15th 2014 - KingslandGrad95 - Gussie, what's your proof that stuff like this happens at the Fillm ... [Read More]
- 10:45:10, Sep 12th 2014 - Bill Butler - The article contains the usual deniers’ slogans, but as per usual is ... [Read More]
- 9:13:55, Sep 11th 2014 - Great Aunt Linda - Great article on becoming a doctor in MN. Congrats to Morgan. ... [Read More]
- 10:07:39, Sep 10th 2014 - Gussie - Well put. If people only knew what went on at the Fillmore County Sheriff's ... [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.