AgStar Financial Services is a US Farm Credit System Agricultural Credit Association (ACA) that delivers a wide range of farm and rural credit programs and services in 67 counties located in Minnesota and northwest Wisconsin.[1][2] AgStar provides financial products including agricultural loans, leases, crop insurance, life insurance, and home mortgages.[3][4][5][6] The financial services offered include appraisals, money market accounts, online banking, and other consulting services.[7][8]
 | |
 Charter territory | |
| Company type | |
|---|---|
| Industry | Agribusiness |
| Founded | 1916 |
| Headquarters | |
Area served | United States |
Key people | Rod Hebrink, CEO |
 $123.9 million (2015) | |
| Total assets | $8.36 billion (2015) |
| Total equity | $1.2 billion (2015) |
Number of employees | 550 + |
| Website | www |
As an ACA cooperative it is owned by 15,200 client-shareholders to whom it provides returns through patronage refunds.[2][9] It has its headquarters in Mankato, MN[1] and is one of the larger Farm Credit associations in the nation. It is located within AgriBank Farm Credit Bank's district, who acts as a wholesale lender for AgStar.[1] For 2015 it reported $123.9 million in net profit and $8.36 billion in assets, up from the 2014 reported values of $117.4 million in net profit and $7.67 billion in assets.[9][10]
On July 1, 2017, AgStar Financial Services, Farm Credit Services and Badgerland Financial joined together to form Compeer Financial. The merger was approved from the Farm Credit Association.[11]
Executives
edit| Position[12] | Name |
|---|---|
| President & Chief Executive Officer | Rod Hebrink |
| Executive Vice President and Chief Credit Officer | Joe Deufel |
| Sr Vice President, Relationship Management | Mark Greenwood |
| Sr Vice President, Operational Excellence and Quality | Jodie Hermer |
| Sr Vice President, Brand and Talent Strategies | John Hemstock |
| Sr Vice President & General Counsel | Paul Kohls |
| Executive Vice President & Chief Relationship Management Officer | Wick Manley |
| Sr Vice President & Chief Risk Officer | Tim Tracy |
| Sr Vice President Investments in Rural America | John Monson |
References
edit
- ^ a b c "View FCS Institution Directory: AgStar Financial Services, ACA". Farm Credit Administration. Retrieved September 25, 2016.
- ^ a b Monke, Jim (May 17, 2016). Farm Credit System (PDF). Congressional Research Service.
- ^ "Agriculture and Farm Loans". Archived from the original on April 19, 2016.
- ^ "Agricultural Equipment Leases". Archived from the original on April 20, 2016.
- ^ "Farm and Agricultural Insurance". Archived from the original on April 15, 2016.
- ^ "Home Mortgage Services". Archived from the original on January 31, 2016.
- ^ "Business Services". Archived from the original on April 18, 2016.
- ^ "Rural Financial and Business Consulting". Archived from the original on April 25, 2016.
- ^ a b "AgStar 2015 Annual Report" (PDF). AgStar. March 9, 2016.
- ^ "AgStar 2014 Annual Report" (PDF). AgStar. March 11, 2015.
- ^ "1st Farm Credit Services, AgStar Financial Services & Badgerland Financial Complete Merger". www.farm-equipment.com. Retrieved August 22, 2019.
- ^ "Executive Team". Agstar.com. April 17, 2013. Retrieved March 7, 2015.
This article incorporates public domain material from Jim Monke. Farm Credit System (PDF). Congressional Research Service.
