HomeGrown | Summer 2015

ARBORONE FARM CREDIT
SUMMER 2015
HOMEGROWN
Feature Story
The Collins
Family & Farm
Credit: Full Circle
Table of Contents
3
President’s Message
Farm Credit & Farming: Full Circle
4
Feature Story
The Collins Family & Farm Credit: Full Circle
6
Ask the Experts
Catching Up With ... Dr. Tom Dobbins & Dr. Matt Smith
9
2015 Scholarship Winners
Scholarships Awarded to Deserving Area Students
10
Customer Feature
Growing It Locally, Canning It Locally
12
Association Events
15
Association News
On the back cover: Farm Credit Centennial
HOMEGROWN
is published for stockholders, directors
and friends of ArborOne Farm Credit.
President & CEO
Kathy S. Heustess
BOARD OF DIRECTORS
DuPree Atkinson, Jr.
Harry B. DuRant
John Lee Newman
J. Whit Player
Jimmy D. Poston
Harold C. Stowe
James (Mickey) Ward
Kelly Wiseman
EDITOR
Jennifer King
Publisher
AgFirst Farm Credit Bank
Publishing Director
Ann-Lamar Tuten
Designers
Athina Eargle
Darren Hill
Amanda Simpson
Travis Taylor
PRINTER
President Woodrow Wilson signing the Farm Credit Act in July, 1916.
As the Farm Credit System prepares to celebrate its centennial next July, we
take a look back at some of the key moments in the System’s history. For
100 years, Farm Credit has served as the financial backbone for farmers and
rural communities across our nation. We have been there in the good times
— and the bad, helping them weather the Great Depression, recessions
and war. Today, Farm Credit stands strong and ready to move agriculture
and rural America into the future.
Editor’s Note: Welcome to the inaugural edition of HomeGrown, the biannual magazine
of ArborOne Farm Credit! We are pleased to bring you this beautiful publication featuring
stories of you, our valued member-borrowers, as well as life in this region we call home:
The Pee Dee Region of South Carolina.
Why did we choose the name HomeGrown? Well, we asked our employees to help us rename the magazine, which you may recall was called Leader. We believe that HomeGrown
emphasizes our rural as well as our agricultural way of life, and we hope you do too.
We hope you enjoy the magazine, and as always, we welcome your comments.
2 ArborOne Farm Credit | HomeGrown | Summer 2015
Professional Printers
Circulation
Kathi DeFlorio
Address changes, questions, comments
or requests for copies of the Association’s
financial reports should be directed to
ArborOne, ACA at 1-800-741-7332 or P.O.
Box 3699, Florence, SC 29502. Contact
us by email: [email protected].
Our quarterly financial statement can
also be obtained from our website,
ArborOne.com.
President’s Message
Farm Credit &
Farming: Full Circle
No, it’s not the ‘80’s all over again! Coming
USDA, only 4 percent of farm operations
off of the most lucrative economic farming
provide 48 percent of net farm income
cycle in history, it’s common to hear talk of
and hold 70 percent of farm debt? This is
USDA, prime rate in 1981 was 21 percent!
the ‘80’s farm crisis being lived all over again.
drastically different than the 30 percent of
Today, the prime rate is 3.25 percent and has
However, in reality, similarities of conditions
farm operations in the 80’s that accounted
been since 2008. Coupling this with high
today as compared to the farm crisis of the
for roughly the same net farm income and
commodity prices has helped to create
‘80’s are few. Commodity prices began the
debt. Talk about concentration of risk!
the strong balance sheets that many farm
operations have today.
dreaded downward turn, which we knew
Another sur vival tool is risk
would eventually come. All else remaining
management. Hedging options that did not
So, protect your crops and minimize
equal, this doesn’t appear to be letting up
exist in the 80’s provides a means for the
your risk; understand your cost factors
in the foreseeable future.
farmer to contract future prices to manage
and evaluate how you can implement cost
price risk. Will the price go higher; is the
reductions; and take advantage of the low
time right to lock in? Are you willing to take
cost of borrowed funds as appropriate. Farm
the chance? Remember, knowing your total
Credit has been here for 100 years, we plan
cost of production can help answer these
to be here for at least 100 more. During
questions. The Farm Bill has shifted support
those 100 years we’ve seen many farming
from traditional commodity title programs
economic cycles. We understand those
to crop insurance. Crop insurance is a vital
cycles, and whether it’s cycling up or cycling
risk mitigator. Can you afford not to have
down, we’re still here serving you, our
it? Probably not!
owners. Thank you for allowing us to help
The best way to survive is
early adaptation
To survive and even thrive, efficiencies must
be gained. With a decrease in gross farm
receipts, input costs per unit must also
decrease! As an example, the top four costs
associated with growing corn are: land,
seed, equipment cost, and fertilizer. Each
cost is variable and should be evaluated for
cost savings potential. Let’s talk about that!
Can the cost of rented land be renegotiated?
Should you use more fertilizer/chemicals
versus planting a genetically modified,
although more expensive, seed? How about
the cost of owning equipment; should
you use your old equipment or buy new
equipment? What is the right answer?
Well, it depends, doesn’t it? Not
everyone will go through the exercise,
although they certainly should; and the
answer will differ with each farming
operation. At the end of the day, you should
know how much it will cost you to put that
seed in the ground and take it through to
harvest. You can somewhat manage your
costs; however, commodity prices are not in
your control. Simply said, if you know your
costs and can realize a profit, you should be
able to stay in the same business; otherwise
you will erode your equity and eventually
will fail.
Did you know that, according to the
Lastly, the balance sheet of the farmer
you plan for your future financial needs. As
is significantly different than it was in the
an agricultural financial cooperative, we
‘80’s and interest rates are drastically
go through the same exercise every year
more favorable. Debt to assets is lower,
when we create an operating budget. We
at approximately half of what it was in
run scenarios to determine what we must
the ‘80’s, while farmer equity is up. A key
do to stay financially strong so that we can
asset on the balance sheet, of course,
continue to serve you in the most efficient
is land. Will land values hold? In South
manner possible and to be able to return
Carolina, our land values didn’t “bubble”
our profits to you. Together, we’ve got this!
as they did in the Midwest; therefore, we
We are Farmer Strong!
are likely not as vulnerable to declining
land values. However, the cost of renting
land did increase. Can that level of rent be
sustained? Referencing the efficiencies
discussion above, I would say those levels
can’t be sustained.
In addition to a lower debt ratio,
interest rates are at all-time lows. Back to the
income statement, a much smaller portion
of income is needed to repay interest on
borrowed funds. In addition, with sustained
lower interest rates, many have chosen to
transition to fixed-rate financing; another
sharp contrast to the ‘80’s. According to
ArborOne Farm Credit | HomeGrown | Summer 2015 3
Feature Story
The Collins Family &
Farm Credit: Full Circle
Danna and Chris Collins certainly didn’t
start out as your typical farm family. When
they graduated from the University of
South Carolina, he with a business degree
in 2002 and she with a bachelor’s degree
in psychology in 2001 and a master’s in
social work in 2003, poultry houses and
hay bales probably seemed like something
they might drive by on their way back to
Chris’ family farm in rural Darlington County,
South Carolina.
Danna, who grew up in the Upstate,
had never even set foot on a farm until
they purchased their own, Gobble Hill
Ranch, three years ago. Now, she couldn’t
imagine doing anything else. “Changing
careers is the best decision I ever made;
“God knows what he’s doing, “ Danna says,
as shortly after she and Chris purchased the
farm, their oldest daughter Bennett, now
6, was diagnosed with a heart condition
that required her to have open heart
surgery. Danna says the flexibility of farm
life allowed her to stay home and nurse
Bennett back to health.
Now, Danna’s primary responsibilities
on the farm include the day-to-day
Danna and Chris Collins at home on Gobble Hill Ranch in June 2015.
operation of the two brooder houses,
chicken houses, where he learned a good
When the Collinses bought the farm,
upkeep of the farm and cutting and raking
deal about the poultry business, he credits
the brooder houses were there — but Chris
the 106 acres of hay they grow for feeding
most of his on-the-job training from two
and Danna needed a lot of guidance. Enter
the cattle that graze the
Jamey Lisenby of Prestage
farm. Some of the hay is
sold commercially, as well.
Chris, who is a Vice
President and Relationship
Manager at ArborOne, puts
in a long day helping new
Farms, who helps the
Now, Danna’s primary responsibilities on the
farm include the day-to-day operation of the two
brooder houses, upkeep of the farm and cutting
and raking the 106 acres of hay they grow for
feeding the cattle that graze the farm.
and existing customers
achieve their business goals
Collinses with the six turkey
flocks they tend per year.
O n ce t h e t u r ke y
operation was up and
running, the cattle came
into the equation. Chris
sources: Sharon and Jim Wooten, from
says he learned even more about cattle—of
on their own farms before heading home
whom the Collinses purchased the farm,
which he now has 59 head—from joining
to Gobble Hill to tend to his own turkeys,
and the ArborOne customers whom he has
the state Cattlemen’s Association. The
cows and family. Though Chris’ daddy has
the pleasure of doing business everyday.
Collinses raise Brangus (a mix of Brahma
4 ArborOne Farm Credit | HomeGrown | Summer 2015
and Angus), Limousine, and Angus cattle
Hill— before going out on his own as a
feel more comfortable with (me) rather
right now. The Collinses’ goal is to hire an
Relationship Manager.
than just being a banker.” Even though
employee to help with the cattle operation,
“Some folks joked that I took Jim’s job,
Chris is lucky to be both, he knows that he
since Chris is busy with his day job and
his house, and his farm,” says Chris. “I guess
can teach his customers a little about the
Danna’s stature can put her at risk when
it worked out for all of us.”
dealing with large animals.
lending industry, and they can teach him
Now, Chris covers Sumter, Lee, and
a lot about farming. To Chris, who says his
From his childhood, Chris always
Clarendon Counties, and is responsible for
overall customer service philosophy is to
wanted to work for Farm Credit, and
the largest loan portfolio in the Association.
practice the Golden Rule, being able to
planned on doing so as soon as he
Perhaps not so ironically, nearly 20 percent
not only help our customers, but to learn
of Chris’ portfolio
from them as well represents the Full Circle
is in poultry, which,
of Farm Credit. And that Circle has been
coincidentally, is the
Farmer Strong for 100 years now.
graduated. However,
despite applying for
a job with ArborOne
fresh out of USC, he
didn’t get the job
right away. In fact,
he worked for Wells
“Being a farmer helps
customers feel more
comfortable with (me)
rather than just being
a banker.”
Fargo and a credit
largest commodity
in South Carolina’s
booming agriculture
industry.
Chris believes
union first. After pursuing positions at
that truly, when it comes to farming, “it
ArborOne relentlessly, he was finally hired
takes one to know one.” When it comes
in 2004. That first year, he rode around with
to reaching out to new prospects, Chris
Jim Wooten—yes, the same Jim Wooten
says, “being a farmer helps customers
Danna and Chris Collins, a Vice President
and Relationship Manager at ArborOne
Farm Credit in Florence, have three girls:
Bennett, 6, Jameson, 4, and Chandler,
born June 27. They live on the family farm
in Timmonsville, SC.
from whom he eventually bought Gobble
Chris and his cattle.
ArborOne Farm Credit | HomeGrown | Summer 2015 5
Ask the Experts
Catching Up with ...
Dr. Tom Dobbins &
Dr. Matt Smith
What’s New at the Pee Dee
Research and Education
Center (REC)?
Dr. Tom Dobbins in his office on the campus
of Clemson University
the Pee Dee REC, one of four major research
“turkeys.” However, the school fight song
centers Clemson operates throughout our
was the “Hokey Pokey.” Somewhere along
state.
the line, the folks in Blacksburg decided
Later, I sat down with Dr. Matt Smith,
to borrow from the fight song and call
tell you how great a resource we have in
the Director of the Pee Dee REC, who filled
themselves the “Hokies,” which apparently
the Clemson Extension. Even if you’re a
me in on the specifics of plans at his station.
worked better for recruiting.
Gamecock fan, you can probably agree how
Below is a Q&A with Dr. Dobbins, followed by
JK: I never would have guessed! I bet our
lucky our state is to have such a fine cadre of
an excerpt of my visit with Dr. Smith.
readers will be glad to have that fun trivia
Ask anyone in agriculture, and they’ll
extension agents and scientists ready and
at our service to help with all kinds of farm
Jennifer King (JK): Dr. Dobbins, tell me a
fact! Now, I know y’all have a lot of research
bit more about you and your educational
going on out at the PDREC. Please, fill us in.
background.
TD: First and foremost, by the end of the
that the Smith-Lever Act of 1914 established
Tom Dobbins (TD): I received my associate
summer we are finally planning to kick off
the Cooperative Extensions to transfer
degree from Abraham Baldwin College in
research results to users in rural areas,
Tifton, Georgia. Then, I obtained a B.A. and
which was three full years after the Clemson
M.A. in dairy science from Clemson. Finally,
Pee Dee Research and Education Center
I got my Ph.D in agriculture education from
(PDREC) was established?
Virginia Tech.
dilemmas and experimental information,
especially in our rural areas. Did you know
Who’s at the helm of all of these agents
and research centers? None other than Dr.
Tom Dobbins, who grew up on a working
dairy farm in Anderson still owned and
operated by this family.
Recently, I caught up with Dr. Dobbins
to learn more about the ambitious plans for
JK: I have to ask. Since you’ve spent time at
Virginia Tech, what is a Hokie?
a full renovation of the facility, which will
take two years to complete. We will stay on
the property during the process, which will
bring our labs back into the 21st century.
With regard to research, we’ve got a lot
going on. Our main programs are: genetic
research into cotton, peanut, and soybeans;
turfgrass, row crop, and ornamental
TD: Well, it’s not what you think it is. It has
entomology; bioenergy/biomass; tobacco;
nothing to do with a turkey. Back in the day,
and Dr. Smith’s specialty, soil health.
their mascot was the turkeys. Trouble was,
We are also lucky to have Dr. Steve
no one wanted to come play football for the
Kresovich on part time as well, heading
Planting sweet potatoes at the Clemson Pee Dee Research and Education Center
6 ArborOne Farm Credit | HomeGrown | Summer, 2015
up the APT (Advanced Plant Technology)
Smith’s background is in hydrology, with
Smith’s ambitious plans for the REC
center. Not only is he doing the genetic
an interest in sustainability and soil health.
also include opportunities for Young and
Beginning Farmers to lease land to grow
research, but he is also doing some work
Like Dr. Dobbins, Smith attended
on grain sorghum as feed for poultry and
Abraham Baldwin
swine.
College in Tifton, but
JK: Wow! That’s a lot going on at the
unlike Dobbins, he
center. I know there are 800 usable acres.
Tell me more about the genetic research
and the APT, which I understand is a $7
million program. What specifically are your
researchers trying to do?
TD: The focus at the APT/PDREC is on
the genetic manipulation of plants (the
APT work being done by Dr. Kresovich.)
Specifically, we are looking for insect and
drought-resistant genes (plant markers),
so that our farmers can minimize the use
of pesticides. The goal is to save time and
money for farmers. When people hear
“genetic manipulation,” they get worried.
But that’s not what we are talking about.
stayed in the Peach
State to obtain his
undergraduate degree
at UGA. From there, he
vegetables under
“ ... Soil is a complex
ecosystem. Feed the
soil, and soil will
feed the plants.”
~ Dr. Matt Smith
attended N.C. State for
the mentorship of
extension agents like
Tony Melton, who’s
famous in our area
for his column in the
Morning News and
for his appearances
his master’s, ultimately obtaining his Ph.D in
on ETV’s Making it Grow. He’s already
agricultural engineering from the University
enlisted Melton to grow 20 acres of high-
of Florida. Thereafter, he taught at UGA for
value horticultural crops in the back of the
17 years before moving to the D.C. area.
Smith is clearly excited about all of
property, five acres of which will be certified
organic.
the activity going on at PDREC, despite
However, Smith’s true passion is in
the coming upheaval the renovations will
soil science, which he believes is literally
bring. “The renovations will give us state-
the foundation for successful farming.
of-the art facilities,” he says. Though the
“Agriculture has always treated soil as a
REC was founded in 1911 on 200 acres of
support media for plant roots. We had
land on Highway 52 near what is now the
to supply all of what the plant needed.
JK: Thank you, Dr. Dobbins, for your time
Pee Dee State Farmers’ Market, its facilities
We know better now. Soil is a complex
and for your service to our state and
have remained largely unchanged since it
ecosystem. Feed the soil, and soil will feed
to agriculture, which drives our state’s
moved to its present location on Pocket
the plants,” he says.
economy.
Road in the 1980s.
A few days later, I sat down with Dr. Matt Smith.
Below are some highlights of my visit to the
PDREC.
Dr. Matt Smith is an agricultural engineer
by profession, and he also is the director
of the PDREC. He came to Florence in 2013
from Washington, D.C., where he worked
for the Agricultural Research Service of the
United States Department of Agriculture.
Further, as an ag engineer, Smith says,
With his position as director of the
“Bare soil offends me.” He’s working with
Center, Smith also is responsible for staffing.
Melton and other local agencies like NRCS
He will be looking for another extension
on cover crops. Melton planted butter
agent to help teach the public about the
beans and soybeans in cover crop residue
APT research being done at the REC, as well
with great success this year. He would like
as a new tobacco pathologist, a soil health
to hire a small grains breeder to work on
faculty member, and a molecular biologist,
additional cover crop research.
among other positions, provided funding
is available.
So much to do, so little time for this
self-described Apostle for soil health!
ArborOne Farm Credit | HomeGrown | Summer, 2015 7
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2015 Scholarship Winners
2015 Scholarship Winners
Scholarships
Awarded to
Deserving Area
Students
For the past three years, ArborOne has
plans to pursue a degree in agribusiness. At
awarded scholarships each spring to
Johnsonville High, she has served as student
graduating high school seniors planning
body president and as editor of the school
to pursue degrees in agriculture-related
newspaper. Elizabeth Jane is the daughter
fields. Applicants must have been accepted
of Rhonda and Shannon Daniel of Nesmith.
into a two- or four-year institution; live in
Hannah will be attending the bridge to
our 12-county service territory; and show
Clemson University program this fall, where
strength not only academically, but also in
she plans to pursue a degree in agricultural
overall service to their rural communities.
education. At Williamsburg Academy, she
This commitment is demonstrated by
has served as a varsity cheerleader, and as
the composition of an essay by each
a member of the National Honor Society
applicant titled, “My Hopes and Dreams for
and the Fellowship of Christian Athletes.
Rural America.”
Hannah is the daughter of Kim and Allen
This year, three worthy recipients
were chosen from across our service
Landry Collins
Wilkes of Kingstree.
“We are pleased to provide the Aim-
territory: Landry Edward Collins of Dillon
at-Ag Scholarships for these outstanding
Christian School; Elizabeth Jane Daniel
students,” said Kathy Heustess, President
of Johnsonville High School; and Hannah
and CEO of ArborOne Farm Credit. “The
Wilkes of Williamsburg Academy.
investment we make today is returned
Landry will be attending Clemson
many times over when these students begin
University this fall, where he plans to pursue
their careers and, in turn, help the future of
a degree in agribusiness. At Dillon Christian,
agriculture and agribusiness in the Pee Dee
he has played numerous varsity sports,
region and the state of South Carolina.”
including football, baseball, and basketball.
Landry, Elizabeth Jane and Hannah
He is also a member of First Presbyterian
each received $750 to further their
Church of Dillon, where he participated in
education from ArborOne.
the Guatemala Senior Mission trip. Landry’s
For more information on the Aim-at-
parents are Amy and Matthew McColl of
Ag Scholarship, please visit our website:
Dillon, who are also ArborOne customers.
www.arborone.com.
Elizabeth Jane Daniel
Elizabeth Jane will also be attending
Clemson University this fall, where she too
“The investment we make today is returned many times
over when these students begin their careers and, in turn,
help the future of agriculture and agribusiness in the Pee
Dee Region and the state of South Carolina.”
Hannah Wilkes
ArborOne Farm Credit | HomeGrown | Summer 2015 9
Customer Feature
Trey Godwin Plants sweet potatoes
on his farm in Lake City.
Growing it Locally,
Canning it Locally:
Enter ArborOne Farm Credit customers
Herbie Brown and Trey Godwin. You can’t get
much more local than Brown and Godwin,
who practically farm across the street from
It Doesn’t Get Much Closer Than This!
along with their business partners, have
What’s the difference between a yam and
300 acres of sweet potatoes this year. For
a sweet potato? Depends on whom you’re
both farmers, this is a brand new crop.
McCall Farms. Both Brown and Godwin,
contracted with McCall Farms to produce
Brown, a veteran f armer in
asking. Most folks down here in the South
seem to call them sweet potatoes, though
Williamsburg County, plants many acres year
according to the sources I checked, the terms
after year. This is his first time doing sweet
are used interchangeably by most Americans.
potatoes though, and it has not been easy.
Did you know that Bruce’s canned
This year’s wet spring and dry, hot summer
yams, made by McCall Farms in Effingham,
have presented significant challenges. The
SC, is the No. 1 selling canned yam? Did
brutally hot day we stopped by to check in
you also know that, prior to McCall Farms’
located? Now that McCall Farms owns the
at the end of May, the ground was so dry, it
buying the Bruce’s label in 2013, most of
line, it has asked for more local production.
was nearly cracked (see picture at left).
the potatoes grown for the brand had to
In fact, this year, 60 percent of the sweet
It’s hard to imagine that these tiny
be shipped to Louisiana, or were grown in
potatoes grown for the line will come from
plants, which are planted much in the
Mississippi or Louisiana, where Bruce’s was
South Carolina.
same way that tobacco plants are set, that
10 ArborOne Farm Credit | HomeGrown | Summer 2015
ArborOne is proud to work
with farmers who are just
starting out, and wants
to help them find the best
financial options for their
operations.
they will be ready with potatoes up to 10
pounds each in just 100 days. Godwin says
he expects his 150 acres to yield thousands
of pounds of the sweet orange tubers. Both
Godwin and Brown will be paid by the
pound by McCall Farms.
Besides growing sweet potatoes for
the first time this year, Trey and Herbie
have another thing in common: their
ArborOne relationship manager, Grant
Lyerly. Grant, a YBS farmer himself, is glad
to see his generation getting into farming—
especially given that the average farmer is
57 years old!
The Godwins aren’t the only ones with
a YBS connection. Mr. Brown is actually
in business with his nephew, Burgess
Watson, who, like Trey, is in his late 20’s.
Lyerly believes being able to relate to his
customers not only because of his age, but
also because he farms, gives him a leg up
on the competition.
Over the years, the Godwins have
farmed traditional row crops such as cotton,
soybeans, and peanuts, and, like Mr. Brown,
have had to learn about the planting of
sweet potatoes as they go. The day before
we arrived, Trey and his dad had traveled
all over eastern SC and into North Carolina
looking for parts for a third planter to
speed up operations, which were bogged
down due to rain. But, like most farmers,
they relished the challenge. Each day, it’s
something new to learn.
ArborOne customers Herbie Brown and Burgess Watson with
Grant Lyerly, relationship manager
Brown says he was very interested
crop mix. Moreover, Mr. Brown added, “I’m
when McCall Farms called looking for him to
trying to find a crop that’s not driven by
grow sweet potatoes for the Bruce’s line—
the Midwest.” Trey agrees: “Sweet potatoes
not only because he was already doing
are a good outlet, even for an operation
business with the local cannery by selling
as big as ours.” With current commodity
them peanuts for its Peanut Patch line—
prices as they are, Mr. Brown just might be
but also because he’s “trying to produce
“YAM RIGHT.”
income every quarter,” by diversifying his
ArborOne Farm Credit | HomeGrown | Summer 2015 11
Association Events
Pictured from the left: SC Ag Commissioner Hugh Weathers, Congressman Tom Rice,
ArborOne President and CEO Kathy S. Heustess, ArborOne Board Member DuPree
Atkinson, ArborOne Marketing Specialist Jennifer King and ArborOne Board Member
Jimmy Poston.
ArborOne Presents PAC Check to
Congressman Tom Rice
In June, members of the ArborOne Board of Directors, along with S.C. Commissioner of
Agriculture Hugh Weathers and ArborOne President and CEO Kathy Heustess, presented
a check from the Farm Credit Political Action Committee (PAC) to Congressman Tom Rice
(R-SC). Rice, who represents Florence and Myrtle Beach, has been a champion of Farm
Credit and ag issues, and serves on the House Budget Committee.
ArborOne
Employees Give
Back Monthly
Each Friday, ArborOne employees may wear
jeans for a $5 donation made payable to the
Pee Dee Coalition, this year’s designated
charity. Also, a bin in each office lobby
collects needed items for Pee Dee Coalition,
which are dropped off by ArborOne staff
ArborOne Hosts Finance Short Course for
Young, Beginning, and Small Farmers
On Saturday, Jan. 31, ArborOne Farm Credit hosted its first financial short course for Young,
Beginning, and Small Farmers at its office in Florence. Thirteen participants from across
ArborOne’s 12-county service region attended the day-long training, which addressed key
topics in farm accounting and financial analysis.
Course objectives included:
• Principles of farm accounting—
including balance sheets and
accounting
• Farm Financial Analysis—including
capacity and performance analysis,
• Creating Your Farm Action Plan—
including business and financial
“Educating the next generation
of farmers is paramount at
ArborOne. We are pleased to
offer opportunities to learn on
many topics important to our
customers. After all, agriculture
IS our business!”
planning
members at monthly intervals.
The Pee Dee Coalition was founded
in 1986 by the Junior League of Florence.
The coalition is a nonprofit volunteer
organization that educates the community
about interpersonal violence and provides
services to victims of sexual assault,
domestic violence, and child abuse.
Since its founding in 1986, the
coalition has expanded into seven Pee Dee
counties, including Florence, Darlington,
Marion, Chesterfield, Marlboro, Dillon, and
Williamsburg. Satellite Centers are located
in each of these counties where services are
available 24 hours a day.
Pictured above are Diana Monjarrez
and Debra Stewart dropping off items at
ArborOne Chief Lending Officer Richard Pitts said of the event, “Educating the next
the Pee Dee Coalition. To learn more, visit
generation of farmers is paramount at ArborOne. We are pleased to offer opportunities
www.peedeecoalition.org.
to learn on many topics important to our customers. After all, agriculture IS our business!”
The course, underwritten in full by ArborOne, will be offered again, so be sure to visit
our website often at www.arborone.com
12 ArborOne Farm Credit | HomeGrown | Summer 2015
Customer Appreciation Events Held
Throughout the Region during the Spring
Back in the spring, we held a series of three events throughout our service region to show
our customers just how much we appreciate their business. Events were held in Florence
at our main office, at Moree’s in Society Hill, and at Thompson Farm in Conway. During
each event, we registered attending customers in a drawing for our grand prize, which
took place after the Conway event. The grand prize? A drone!
Though the location of each event was distinct, each one featured live music, delicious
food, and door prizes. Thanks to all who came and congrats to Mr. Jimmy McColl, our grand
prize winner (pictured above on his farm). Mr. McColl, one of Bill Aston’s customers from
Clio, who attended the Society Hill event in March, won a brand new drone!
We look forward to bringing you bigger and better customer appreciation events in
2016 as we celebrate 100 years of Farm Credit!
Annie’s Project Held
in Hartsville, Trains
Women Farmers
In June, nearly 20 farm wives and farm
women from around the state convened
in Hartsville for the three-day “Annie’s
Project.” Annie’s is a nationwide program
sponsored locally by Clemson, ArborOne,
AgSouth, and Farm Bureau.
Topics discussed included farm
financials, marketing, social media, legal
Sporting Clays Tournament
Benefiting 4-H & FFA of South Carolina
Join Us September 19, 2015
at Black River Sporting Clays
1049 Millwood Road, Kingstree, SC
Registration From 8:30 a.m. – 12:30 p.m. | Scorecards Must Be In By 2 p.m.
$80 Youth Registration Fee
(17 & Under)
$100 Adult Registration Fee
Incudes 100 Rounds Sporting Clays, Shirt & Meal
***Parent or Chaperone must accompany young shooters
(under 17) at all times***
Includes 100 Rounds
Sporting Clays,
Shirt & Meal
***3-Man Youth Team Option***
Presented By
issues, and more. The women were treated
to a farm tour and delicious dinner at
McLeod Farms in McBee. Pictured above
is Gay McLeod speaking to the Annie’s
For More Information Please Contact:
Charles Vernon | 843-432-2340 | [email protected] or
Jason Creamer | 843-432-2319 | [email protected]
women after dinner about their agritourism
operation.
ArborOne Farm Credit | HomeGrown | Summer 2015 13
Association Events
Aim at Ag 2014 the Most
Successful To Date
The 4th annual ArborOne “Aim at Ag” was
was presenting a check in the amount of
not we will be heading to Louisville, K.Y., to
the most successful tournament since its
$21,000 each to both the South Carolina FFA
accept the award this October. Either way, we
founding in 2011. Thanks to the generosity
and the South Carolina 4H that will directly
are gearing up for the 5th annual “Aim-at-Ag,”
of numerous sponsors and more than 100
aid their youth programs.
which will take place on Saturday, Sept. 19.
participants, we were able to raise $42,000
In fact, “Aim-at-Ag” has been
Registration and additional information can
to support youth agriculture programming
nominated for the prestigious “Distinguished
be found on our website: www.arborone.
in South Carolina. Pictured above are
Service Award” given by the national FFA.
com. See you there!
ArborOne Relationship Managers Jason
As of presstime, we are unsure whether or
Creamer and Charles Vernon presenting
proceeds to the state FFA Convention at
Clemson University in June.
The tournament, held Nov. 15, 2014, at
Black River Sporting Clays in Kingstree, was
great fun for all involved. But the most fun
Thanks to the generosity of
numerous sponsors and more
than 100 participants, we were
able to raise $42,000 to support
youth agriculture programming
in South Carolina.
14 ArborOne Farm Credit | HomeGrown | Summer 2015
Association News
ArborOne Welcomes ...
Jennifer King, Marketing Specialist
Jennifer joined ArborOne in January of 2015 after seven years at the
Pee Dee Land Trust, a nonprofit based in Florence. At the land trust,
she was responsible for membership, programming, fundraising,
publications, board relations, and more. Previously, Jennifer worked
in Washington, DC as a lobbyist for a variety of causes at the state
and federal levels. She is originally from Texas and holds a B.A.
from Louisiana State University in Baton Rouge and a master’s in
political management from The George Washington University. The
proud mom of Caleb, 13, and Frawley Grace, 9, Jennifer has called Florence home since late
2007. She is a member of Central United Methodist Church, where she sits on the Family
Life Committee, and chairs the Pete Cooper Titan Tennis Tournament for Trinity-Byrnes
Collegiate School.
Johnson Atkinson, Relationship Manager
Johnson’s no stranger to ArborOne, having worked here from
2007 to 2013. In addition to making loans for farmers, Johnson
also has a small cattle operation and now owns Swamp Hogs, Inc.,
a hog operation in Galivants Ferry. Prior to working with ArborOne,
Johnson was an agricultural loan specialist with Anderson Brothers
Bank; he also worked with AgSouth Farm Credit’s Insurance
Department in South Carolina. Originally from Marion, he is a
2002 graduate of Clemson University with a degree in agricultural
and applied economics. Johnson also serves as a board member of the S.C. Cattlemen’s
Association, the Marion Chamber of Commerce, and the Marion County Economic Progress
Board. He is a member of First United Methodist Church of Marion. Johnson is married to
Renee’ Atkinson and is also the proud dad of Stella and EJ.
ArborOne
Congratulates ...
Kathy S. Heustess, president and CEO, on
her election to the Francis Marion University
Foundation Board.
Ashley Altman, loan officer II, received the
Pee Dee Agribusiness Person of the year
award at the Young Farmer and Agribusiness
Conference in Myrtle Beach in January.
Johnson Atkinson, relationship manager,
was chosen by South Carolina Secretary of
Commerce Bobby Hitt and Governor Nikki
Haley as an Ambassador for Economic
Development representing Marion County.
Jennifer King, marketing specialist, was
elected to the United Way Association of
South Carolina Board of Directors.
Anna Buddin, Bill Aston, and Dora Belin
for 35 years of service to ArborOne. Though
the name, location of the home office, and
lots of the faces have changed over the
years—one thing hasn’t—the dedication
of these fabulous employees (pictured above
at employee appreciation day).
Jimmy Poston, board member, who
was elected to serve a two-year term on
the AgFirst Farm Credit District Board of
Directors ending Dec. 31, 2016.
Poston Elected to Fourth Term on
Board of Directors
In late May, ArborOne held its annual election for Board of Director positions and
for the nominating committee. This year, one seat was up for re-election: Mr. Jimmy
Poston’s. Mr. Poston, a lifelong farmer from Poston’s Corner in lower Florence County,
was re-elected to his 4th term. Poston has served on the ArborOne board since 1994.
Brian McClam, ArborOne customer from
Kingstree, S.C., for being chosen the Peanut
Profitability Award winner for the Virginia/
Carolinas Region.
Chosen to represent our stockholders during the 2016 nominating process as representatives of the Nominating Committee were:
• Steven “Neal” Baxley, Jr.
• William Lawson
• Cullen Bryant
• Johnny Shelley
ArborOne Says
Farewell to...
• Thomas DuRant
• Jon Stuckey
Frances “Lynette” McKenzie, core support
Nominating Committee Alternates: James Chapman, Michael E. Johnson, and
Doyle O’Neal.
We thank these stockholders for their service and to all of you for exercising your
right to vote!
manager, who retired after 38 years of
service, and Faye Hannah, a credit analyst,
who retired on Aug. 31, 2014. Faye had
approximately 12 years of service. We wish
Lynette and Faye the best and thank them
for their service.
ArborOne Farm Credit | HomeGrown | Summer 2015 15
ArborOne Farm Credit
Post Office Box 3699
Florence, SC 29502
PRSRT STD
U.S. POSTAGE
PA I D
COLUMBIA SC
PERMIT 1160
Farm Credit History Timeline
1908
President Theodore Roosevelt’s Country Life Commission recommended
a cooperative credit system that would provide credit to farmers and
ranchers.
1912
1953
Farm Credit Act made FCA independent of USDA, set course for
farmer-ownership.
Spring: President William Howard Taft’s committee and its trip to
Europe to explore agricultural credit systems there and its “Preliminary
Report on land and Agricultural Credit in Europe (published Oct 1912).
1968
Farm Credit System paid off federal loans in all branches of the system. 1916
July 17: President Wilson signs the Federal Farm Loan Act which
creates the Federal Land Banks and Federal Farm Loan Board, and
“provided government start-up capital for cooperative agricultural
lending agencies.” 1971
1917
By November 30: Farmers had organized 1,839 National Farm Loan
Associations, and 1,985 more were in process. 18,000 farmers had
received a total of $30 million in loans (out of $200 million in requests).
1922
74,000 farmers had borrowed a total of $234 million in current loans
from the Federal Land Banks.
1923
Agricultural Credits Act, March 3, 1923 [S.4280, 5 January 1923]:
created 12 Federal Intermediate Credit Banks, providing loans at
discounted rates to agricultural cooperatives, commercial banks,
and other lenders. 1927
February 8: New legislation amended the Agricultural Credits Act
of 1923 by authorizing national agricultural credit corporations to
make loans on farm crops being grown for market. 1929
Agricultural Depression slows the rate of borrowing, and by 1929
only 17,000 farmers had outstanding loans from the FLBs, for a total
of $64 billion.
Nearly half of all National Farm Loan Associations were failing, and
farm foreclosures were common.
1933
May 12: Congress passes Emergency Farm Mortgage Act, which
sought to save farmers delinquent on mortgage payments, and
“purchased farm mortgages from lenders or from the receivers of
insolvent banks at discounted prices, pursuant to an application
by the lender and the borrower, scaled them down, and refinanced
them over longer terms and with lower interest rates.”
June 16: Congress passes the Farm Credit Act, authorizing
farmer-owned Production Credit Associations to make short- and
intermediate-term loans. Within eighteen months, the Farm Credit
Administration, a merger of government farm loan agencies, would
refinance a fifth of all farm mortgages.
December: Land Banks were loaning more money per month than
they had during the entire year of 1932.
Total farm debt was $54 billion.
Farm Credit Act of 1971 liberalized the rules for FCS lending, allowing
loans to fishermen, rural homeowners, and greater support for
production agriculture.
FCS held $69.8 billion in outstanding loans national farm debt was:
$212 billion.
1985
Farm Credit Act of 1985: Separated FCA from the FCS, making
FCA an “arm’s-length” regulator. It also provided for a full-time,
presidentially appointed three-member Board of Directors, on
which one Board member serves as Chairman and Chief Executive
Officer of FCA. The Act restructured FCA to give it increased oversight,
regulatory, and enforcement powers similar to those of other Federal
financial regulatory institutions. FCA was required to examine each
direct-lending institution at least annually and could use its new
enforcement authority to instill safe and sound banking practices
on troubled institutions and to correct any regulatory violations. 1987
Agricultural Credit Act reorganized the Farm Credit System:
authorized up to $4 billion in federal assistance to troubled
institutions. Strengthened borrowers’ rights and created an insurance
corporation to protect bank assets. Federal Land Banks and Federal
Intermediate Credit Banks within each district were merged. 2005
Farm Credit System payoff of federal loans--the institutions of the
Farm Credit System once again become entirely farmer-owned.
2016
Farm Credit makes its centennial and looks ahead to continuing
serving as the financial underpinning of U.S. agriculture and rural
America.