AgriBank, part of the US Farm Credit System, serves as a wholesale lender and a farm credit bank[1] (FCB) to a 15-state network of local farm credit associations in a district that stretches from Ohio to Wyoming and Minnesota to Arkansas. AgriBank is the second largest of the four banks in the Farm Credit System[1] and has over $150 billion in assets. Like AgFirst Farm Credit Bank and Farm Credit Bank of Texas, Agribank is organized as an FCB while CoBank, the fourth bank in the system, is organized as an agricultural credit bank (ACB).[1]
 | |
 Charter territory | |
| Company type | |
|---|---|
| Industry | |
| Headquarters | |
Key people | Jeff Swanhorst, CEO |
 US$ 873.3 million (2023) | |
| Total assets | US$ 176.4 billion (2023) |
| Total equity | US$ 8.5 billion (2023) |
| Website | agribank.com |
AgriBank is owned by member associations, which are owned by agricultural borrowers.[2] In 2011, it relocated its headquarters to Wells Fargo Place in downtown St. Paul, Minnesota.[3]
Leadership includes an 17-seat board of directors and an executive team based in St. Paul. Directors serve 4-year terms.
History
editAgriBank is the product of mergers of several regional Farm Credit Banks:
- 1992 merger of the Farm Credit Bank of Saint Louis and Farm Credit Bank of Saint Paul to form AgriBank.
- 1994 merger with the Farm Credit Bank of Louisville.
- 1994 merger of the Farm Credit Bank of Spokane and Farm Credit Bank of Omaha to form AgAmerica Farm Credit Bank.[4]
- 2003 merger with AgAmerica Farm Credit Bank.
References
edit- ^ a b c "About banks & associations | Farm Credit Administration". www.fca.gov. Retrieved 2022-05-23.
- ^ Kohn, Natalie McGarry and Donald (2012-11-06). "Farm Credit System Liquidity and Access to a Lender of Last Resort". Brookings. Retrieved 2022-05-23.
- ^ Black, Sam (January 7, 2011). "AgriBank relocating in downtown St. Paul to Wells Fargo Place". www.bizjournals.com. Retrieved 2022-05-23.
- ^ "Agamerica To Leave Spokane After 73 Years, Farm Credit Bank Moves To Sacramento In March". Spokesman.com. December 7, 1996. Retrieved 2015-01-08.
Further reading
edit- Webb, Tom (February 18, 2006). "St. Paul's AgriBank empire: It's not a household name, but the St. Paul-based bank has a long reach". St. Paul Pioneer Press.
External links
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