"Where Fillmore County News Comes First"
Monday, January 26th, 2015
Volume ∞ Issue ∞
- 1:46:02, Jan 25th 2015 - FountainFarmer - whatever and neighbor, what do you think you're trying to accomplish ... [Read More]
- 1:45:40, Jan 24th 2015 - penny4yourthoughts - Or MAYBE people should accept the fact that you can't always win ... [Read More]
- 11:30:37, Jan 24th 2015 - neighbor - Fountainfarmer....residents of this street have taken it to the city coun ... [Read More]
- 2:04:25, Jan 23rd 2015 - FountainFarmer - whatever seems like the type of person who will rant and rave on new ... [Read More]
- 1:39:29, Jan 23rd 2015 - Two dogs - or maybe FC should recruit some better athletes or get ones that like to w ... [Read More]
- 12:47:28, Jan 23rd 2015 - Duh - whatever--- you should probably realize that a Chamber of Commerce has NOTHING ... [Read More]
- 6:41:21, Jan 23rd 2015 - fc - FC needs new coaches who know what they are doing ... [Read More]
- 6:37:32, Jan 23rd 2015 - whatever - Get the parking behind the high school under control! ... [Read More]
- 12:08:57, Jan 22nd 2015 - firstname.lastname@example.org - Nice story about by old friend Fred, who taught me the ropes w ... [Read More]
- 12:30:17, Jan 19th 2015 - IFE - Thank you, Jason, for a wonderful tribute to Bruce Fishbaugher. He certainly ... [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.