Autumn - AgSouth Farm Credit

Transcription

Special Equine Edition
2 | Autumn 2005, AgSouth Leader
Important Crop
Insurance Dates
AgSouth
Leader
11-01-05
Initial Planting Date - Onions (GA)
11-14-05
Production Reporting Date - Barley/Oats/Wheat (GA & SC)
11-20-05
Sales Closing Date - Blueberries/Peaches (GA & SC)
PRESIDENT
William P. Spigener, Jr.
11-20-05
Sales Closing Date - Apples (SC)
11-20-05
Final Planting Date - Barley (GA)
BOARD OF DIRECTORS
11-30-05
Sales Closing Date - Clams (SC)
Noel L. Riggins, Vice Chairman
11-30-05
Final Planting Date - Oats (GA)
Eugene W. Merritt, Jr.
Jimmy B. Metts
Jerome G. Parker
Charles C. Rucks
Raymond L. Tumbleston
Hugh E. Weathers
John R. Wells
David H. Womack
11-30 to 12-10-05
Final Planting Date - Wheat (GA)
12-15-05
Acreage Reporting Date - Barley/Oats/Wheat (GA & SC)
12-31-05
Sales Closing Date - Potatoes (SC)
01-04-06
Production Reporting Date - Blueberries/Peaches (GA & SC)
01-04-06
Production Reporting Date - Apples (SC)
01-31-06
Sales Closing Date - Pecans (GA & SC)
01-31-06
Sales Closing Date - Tomatoes (SC)
02-01-06
Final Planting Date – Onions (GA)
02-14-06
Production Reporting Date - Potatoes (SC)
02-28-06
Sales Closing Date - Corn/Cotton/Grain Sorghum/Peanuts
AgSouth’s Leader is published quarterly for stockholders
and friends of AgSouth.
Harry S. Bell, Chairman of the Board
Gary L. Alexander
Earle J. Bedenbaugh
Arthur Q. Black
Jimmy C. Carter, Jr.
Thomas H. Coward
Loy D. Cowart
Lee H. DeLoach
Diane H. Edwins
A. Harvey Lemmon
EDITOR
Rhonda Uzzolino
Address changes, questions, comments or requests for copies of financial
reports should be directed to AgSouth Farm Credit by writing Pat Bowen
at PO Box 718, Statesboro GA 30459-0718 or calling 800-633-9091. If you
prefer, you may send your request via email to [email protected].
AgSouth Farm Credit does not endorse or accept responsibility for the
advertisements contained in this publication and is not responsible for any
misrepresentations contained therein, including misprints. Opinions and
statements contained in advertising are those of the advertisers.
To advertise in AgSouth’s Leader, email Rhonda Uzzolino at
[email protected] or call 803-767-1559. AgSouth reserves the right to
refuse publication of any advertising deemed inappropriate in the opinion of
management.
WE APPRECIATE YOUR COMMENTS!
We hope you enjoy the new AgSouth Leader. Please thank our advertisers
and let them know you saw their ad in our magazine. Advertising helps defray
the cost of printing and mailing your cooperative’s magazine. If you have
any comments or suggestions about AgSouth’s Leader articles, columns or
advertisements, please contact Rhonda Uzzolino at [email protected]
or 803-767-1559. Please support your Leader advertisers!
Soybeans/Tobacco (GA & SC)
03-01-06
Initial Planting Date - Corn (GA & SC)
03-01-06
Acreage Reporting Date - Pecans/Onions (GA & SC)
03-01-06
Production Reporting Date - Pecans (GA & SC)
03-15 to 07-01-06
Initial Planting Date - Tomatoes (SC)
03-17-06
Production Reporting Date - Tomatoes (SC)
03-26-06
Initial Planting Date - Peanuts (SC)
04-01-06
Initial Planting Date - Peanuts (GA)
04-11-06
Initial Planting Date - Grain Sorghum (GA & SC)
04-14-06
Production Reporting Date - Corn/Cotton/Grain Sorghum
Peanuts/Soybeans (GA & SC)
04-16-06
Initial Planting Date - Soybeans (GA)
04-16 to 04-30-06
Initial Planting Date - Soybeans (SC)
04-30-05
Final Planting Date - Corn/Tobacco (GA & SC)
03-15 to 07-01-06
Initial Planting Date – Tomatoes (SC)
03-17-06
Production Reporting Date – Tomatoes (SC)
03-26-06
Initial Planting Date – Peanuts (SC)
04-01-06
Initial Planting Date – Peanuts (GA)
04-11-06
Initial Planting Date - Grain Sorghum (GA & SC)
04-14-06
Production Reporting Date - Corn/Cotton/Grain Sorghum
Peanuts/Soybeans (GA & SC)
04-16-06
Initial Planting Date - Soybeans (GA)
04-16 to 04-30-06
Initial Planting Date - Soybeans (SC)
04-30-06
Final Planting Date - Corn/Tobacco (GA & SC)
If you know of someone who needs crop insurance or would like
more information about our products, please contact one of the
insurance agents listed below:
Douglas GA: Jimmy Dockery | 800-334-1224 | [email protected]
Blackshear GA: Sandra Crews | 800-522-0596 | [email protected]
Vidalia GA: Mary Hutcheson | 800-633-4887 | [email protected]
This notice is for informational purposes only. Policy provisions will prevail.
Dasher discusses the problems with growing burly tobacco in south Georgia.
Dasher and Calhoun examine the leaves of G&R’s latest crop.
G&R Farms
Experiments with
Burly Tobacco
By: Rhonda Uzzolino, Marketing Manager
This tobacco has been drying in the barn and is ready for packing.
G
&R Farms, located in Tattnall
County, Ga., is a large farm
operation by any standard. Brothers
Robert and Gerald Dasher started the farm,
just outside of Glennville, as a row crop
operation in the 1970s. They became Farm
Credit members in the early 80s. When
Gerald died a few years ago, Robert took
on the grunt of the work and overseeing of
the farm operation, but he says that Gerald’s
wife Pam, who has worked with G&R in the
family operation for years, really helps out
a lot with the phone calls, the details of the
business and general office work. “I just keep
moving around from one place to another to
keep it all going,” he jokes. It takes a lot of
hands and good help to keep an operation this
size running. And with a row crop operation,
timber, onions, cattle, tobacco, 50 full-time
employees and up to 500 seasonal employees,
handling payroll can be a full-time operation
itself.
G&R Farms is one of the largest Vidalia
onion operations in Tattnall County, planting
anywhere from 600-700 acres of the crop each
year. The Dashers also grow corn, peanuts
and soybeans on the farm and raise cattle. At
present, they have approximately 1,000 brood
cows, 75 bulls and 750 calves. The herd is a
mixture of Limousine, Hereford and Black
Angus. When the calves reach a weight of
650 pounds, they are sold as stock cattle and
shipped out west. To keep the herd healthy,
Robert replaces anywhere from 75 to 100 of
the brood cows every year.
An astute businessman and avid
conservationist, Dasher has fenced in his
timberland and uses it to graze the cattle. “The
cows graze on the undergrowth and keep the
timber managed at the same time,” he explains.
He also uses the sandy soil around his property
that is not suitable for crops or timber as
pastureland.
Dasher Industries, a subsidiary of
G&R Farms, manages the timber under the
directorship of Gerald’s son, Walt. Robert’s
son, Heath, helps his father with the row
crop operation, and Blake, a senior at the
University of Georgia, is obtaining his degree
in agribusiness and forestry and plans to work
full-time for the company once he obtains his
degree. G&R Farms truly is a family business.
When we visited G&R Farms in late
August, they were getting the flue-cured
tobacco ready for auction. The bulk of it was
Dasher in his warehouse with flue-cured tobacco that is ready for market. (With AgSouth
Marketing Manager Rhonda Uzzolino and Regional Vice President Pat Calhoun).
already in bales, ready to go to the auction
house. Robert explains, “Not too many years
ago, we just sheeted the tobacco and took it
over to the auction warehouse. Now we bale
it, which helps the auction move at a faster
pace. We can get 750-850 pounds of tobacco
in a single bale. The technology that’s used
these days in grading tobacco is amazing.”
What remained of the flue-cured tobacco crop
was still in the cooking barns. Robert says that
during the height of the tobacco season, the
farm harvests 6-8 barns per day, and each barn
can hold up to 2,500 pounds of fully-cooked
leaves.
Earlier this year a representative from
Phillip Morris asked Robert if he would try
growing a few acres of burly tobacco. Robert
agreed to plant 15 acres of the new crop as
an experiment, and put the plants in during
the second week of June. Unlike flue-cured
tobacco, which is broken off at the stalk and
cured with heat in a barn in a matter of days,
the whole stalk of burly tobacco is cut and
hung upside down in the air to dry. By the
time we visited in August, the southern heat
and humidity had already proven too much for
the foreign crop, which is normally grown in
milder, less humid states. Robert estimates that
the burly tobacco he has grown, if it makes
it, will take anywhere from 6-8 weeks to dry
in the Georgia climate. Dasher believes that
south Georgia is just too hot during the typical
growing season of burly tobacco for the plants
to thrive. “If I tried it again, I would plant it
earlier in the season,” he says.
Unlike many farmers in the past few
years, Dasher has chosen to stay with tobacco.
He says, “Tobacco has been one of our more
profitable and stable crops. We can count on
it year-in and year-out. Tobacco is a weed.
It weathers well and can take a good bit of
stress.” At the same time, he expresses his
concerns over the increasing threat to the
Georgia tobacco crop from the spotted tomato
virus. Dasher worries that unless we can
develop a variety of tobacco resistant to the
virus, or work with chemicals to develop a
spray to contain it, the spotted tomato virus
could bring an end to tobacco in Georgia.
But, he has no plans at present to either get
out of the tobacco growing business or reduce
his tobacco acreage. “With tobacco, I know
we’ll always have something to turn to,” he
says. “This is no longer a U.S. economy we’re
dealing with, but a global one, and I expect
that there will always be a market for tobacco
somewhere.” 
Autumn 2005, AgSouth Leader | 5
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Ga. Divisio
Lessie M. Snead Retires
By: Benita Free, Branch Operations Coordinator
Lessie M. Snead, a regional vice president in
AgSouth’s Walterboro office, retired June 30,
2005, after more than 33 years of service to
Farm Credit.
Lessie’s Farm Credit career began at the
Federal Land Bank Association of Walterboro
on February 14, 1972. During her career
in ag lending, Lessie worked in just about
all departments of the association - from
administration to lending - eventually earning
the position of regional vice president for
Edisto Farm Credit (a predecessor of AgSouth)
in 1995.
After 33 years of dealing with ag
commodities, Lessie decided to retire to have
more of that most precious commodity called
“time” for herself and her family. She is
eagerly anticipating the next part of her life,
and is looking forward to spending more time
with her husband William and sons, Brian and
Brent. According to Lessie, “With so many
possibilities ahead, it is not really an ending at
all, but a new beginning.”
Through her long and distinguished
employment with the association, Lessie has
encouraged everyone she has worked with
to work hard, stay inspired, value people and
life, and, above all, to be thankful for our
many blessings. She has been a wonderful role
model, mentor, leader, dedicated co-worker
and friend. Lessie’s coworkers, business
associates and valued customers will miss her.
Lessie would like to thank her colleagues
and customers for their friendship and loyalty
and promises not to put off, hold back or save
anything that will add love, laughter and luster
to her life or the lives of others. 
We wish Lessie the best of luck in her
retirement!
AgSouth Directors
Reelected to Board
The following directors were reelected
to serve another three years at the recent
stockholders meetings. 
HARRY S. BELL
Saluda County, SC
A. HARVEY LEMMON
Meriwether County, Ga.
JIMMY B. METTS
Atkinson County, Ga.
LEE H. DELOACH
Bulloch County, Ga.
LOY D. COWART
Emanuel County, Ga.
DIANE H. EDWINS
Berkeley County, SC
JACK J. ARNOLD
Oconee County, SC
KENNETH BENNETT
Pierce County, Ga
W. BAYNARD BOYKIN
Kershaw County, SC
CHARLES RAY BROWN
Orangeburg County, SC
GEORGE A. HILLSMAN
Oconee County, Ga
EUGENE T. JONES
Wayne County, Ga
RICKY C. NORTH
Carroll County, Ga
W. GORDON WELLS
Jasper County, SC
AgSouth Directors
Retire
On September 30, 2005, the following AgSouth
Farm Credit directors retired after a combined
service record of more than 145 years to the
association. We wish to thank these directors
for their service to the association and to the
field of agriculture. We wish them the best of
luck in their retirement. 
AgSouth Directors and Employees Discuss
Concerns with Congressmen
During the second and third quarters of 2005,
AgSouth employees and directors met with
local congressmen to discuss the future of
agriculture and its monetary impact on South
Carolina and Georgia. A large part of the
discussions centered on keeping Farm Credit
out of the “super regulators” and not lumping
the Farm Credit System in with Fannie
Mae, Freddie Mac and other large housing
GSEs. Overall, Georgia and South Carolina
congressmen are very supportive of AgSouth
Farm Credit and support the necessity
of having an institution that specifically
addresses the financial concerns of farmers. 
ABOVE RIGHT:On July 6, 2005, Congressman
Joe Wilson met with directors and employees
in the new Batesburg-Leesville office. (l to r):
S.C. Divisional President Ronnie Summers,
Regional Vice President Tom Sawyer, Director
Charles Ray Brown, Congressman Joe
Wilson, Chairman of the Board Harry S. Bell,
Credit Analyst Ben Skelley, Director Earl C.
Bedenbaugh, Credit Analyst Diane Green and
Loan Assistant Crissie Kirby.
AT RIGHT: Congressman Charlie Norwood
(2nd from left) met with Farm Credit
representatives on July 5, 2005, including
AgSouth Vice President Ricky Cochran (far left)
and AgGeorgia’s Tom Kite (far right).
BELOW RIGHT: AgSouth directors and
employees met with Congressman David
Scott on April 18, 2005. (L to R): AgSouth
Vice President Harold Smith, Ga. Divisional
President Craig Peebles, Vice President Tony
Prather, Congressman David Scott, AgSouth
Director Ricky North and AgSouth Director
Noel Riggins.
Do you dream of owning that perfect home?
Now You Can Apply Right Online!
With AgSouth Mortgages’ new online application process, it’s easier than
ever to realize your dream of owning that home you’ve always longed for.
Just go to www.agsouthmortgages.com and follow our easy drop down
menus to determine whether renting or buying is right for you, how much
house you can afford, calculate your payments and even apply online,
all at your convenience from the comfort of your home or office. Our
application process is fast and easy to complete. We’ll respond within 24
business hours – and you’ll be one step closer to realizing your dream of
owning the perfect home.
www.agsouthmortgages.com
AgSouth Mortgages
Makes Dreams Come True
By: Laura Gar Campbell, Mortgage Originator
AgSouth Mortgages originator Laura Gar
Campbell (l) talks with the Wellingtons about
their new home.
“I pull into my driveway
every day after work
and am still amazed . . .
Duane and Maralee are proud to own their own land where they can raise horses.
D
uane Wellington and his wife
Maralee both grew up in the suburbs
of small towns close to shopping
and schools. Duane, whose father was in the
Air Force, moved quite a bit during his youth.
When Duane and Maralee married, they
decided to raise their family the same way
they had grown up and settled in Simpsonville,
S.C. The family shared a love of horses, but
because of the restrictions of life in town, had
to keep their horses at nearby boarding stables,
which meant that the family didn’t get to spend
as much time riding as they would have liked.
But the Wellingtons had a dream to one
day own some land where they could raise
and ride their horses and live in a nice house
surrounded by woods and trees instead of
street signs and sidewalks. When the last
child moved out of the house, the Wellingtons
decided to pursue that dream.
They soon found the perfect land, 24 acres
in nearby Laurens County, but got frustrated
in their search for a lender to finance the
property. A friend told Duane about AgSouth
Farm Credit, and he called John Livingston, a
regional vice president in AgSouth’s Laurens
office. “John was the first person I spoke with
who asked me what I wanted to do and what
my current situation was,” said Wellington.
“He actually took the time to speak with me
and offered several different ways of getting
from where we were to where we wanted to
be. After listening to our concerns and plans,
he recommended that I speak with AgSouth
Mortgages originator, Laura Campbell.”
Through AgSouth Mortgages, the
Wellingtons were able to purchase the property
and now live in the home of their dreams. “I
pull into my driveway every day after work
and am still amazed that this was possible,” he
says in wonderment. “Maralee and I will spend
AgSouth Mortgages made
this all possible. To have
a significant piece of real
estate that we’ll be able to
pass on to our children one
day is a good feeling.”
the rest of our lives here being fascinated by
the herd of our own horses that roam around
just outside our window. To say that AgSouth
‘helped’ would be an understatement:
AgSouth Mortgages made this all possible.
To have a significant piece of real estate that
we’ll be able to pass on to our children one
day is a good feeling.” 
AgSouth Introduces
“Out in the Country”
B
eginning Labor Day weekend,
AgSouth Farm Credit aired the
company’s first network and cable
television commercials, kicking off a campaign
designed to promote AgSouth as the rural
lender of choice throughout its chartered
territory. The “Out in the Country” campaign
was based on the 1970s hit by Three Dog Night
of the same name and uses beautiful imagery to
tell the story of a life out in the country.
The commercials are part of a three-year
campaign to target those who would like to live
a more rural lifestyle. “When we help stabilize
the portfolio with loans that are supported from
sources outside of agriculture, we become a
stronger association and better able to help
support farming with competitive loans and
more diverse products,” says Marketing
Manager Miriam Pflug. “Most farmers in our
territory are aware of AgSouth Farm Credit
and the types of loans we do to help support
agriculture. The focus of this campaign is to
create awareness of AgSouth for those who
may not know that we offer financing for real
estate, homes in the country, fencing, barns,
pastureland, livestock . . . basically anything
that you would need financing for in order to
live a rural life.”
According to Marketing Manager Rhonda
Uzzolino, AgSouth decided to let the song tell
the story behind the campaign because the
lyrics themselves convey that sense of freedom
that goes with living a life out in the country.
“The song and imagery combine to convey our
message without having to use a lot of words to
spell it out. And, hopefully, the song will bring
back a bit of nostalgia for those who remember
the original hit from the 70s. ‘Out in the
Country’ was a perfect match to our campaign
targeting those who may want to move away
from the larger cities and live a more peaceful
life in rural America.”
The commercials were shot over three
days in upstate South Carolina. AgSouth
member Jim Strausbaugh stopped by the
shoot at Strausbaugh Farms and expressed his
pleasure at what AgSouth was doing to attract
people to a more rural life. “There’s nothing
like living out here,” he says. “You can ride
your horses on your own property, and there’s
no one to tell you that you can’t do it. I love
the freedom and the peace living in the country
offers.”
If you didn’t catch AgSouth’s
commercials, which ran earlier this fall, watch
for them on select network and cable television
stations in the spring of 2006 or visit www.
outinthecountry.com to view them online.
While you’re there, show your support for
rural living by clicking on the link for your free
Out in the Country bumper sticker! 
Whenever I need to leave it all behind,
or feel the need to get away, I find a
quiet place, far from the human race
– out in the country.
Whenever I feel them closing in on me,
or need a bit of room to move; when
life becomes too fast, I find relief at last
– out in the country.
Before the breathing air is
gone; before the sun is just
a bright spot in the nighttime; out where the rivers
like to run, I stand alone and
take back something worth
remembering.
Out in the Country
By: P. William/R.Nichols
www.outinthecountry.com
South Carolina Real Estate
Values on the Rise
By: Gregg Miller, South Carolina Chief Appraiser
A
ccording to the U.S. Department of
Agriculture’s National Agricultural
Statistics Service Land Values Report
of August 2005, South Carolina real estate
values continue to rise, influenced by the
strong demand for recreational tracts and the
continuing pressures from the rapid residential
development taking place in suburban
counties. This trend is expected to continue.
The United States Department of
Agriculture’s National Agricultural Statistics
Service posts the following information to
their website:
“The U.S. farm real estate values, a
measurement of the value of all land and
buildings on farms, averaged $1,510 per acre
on January 1, 2005, up 11 percent from 2004.
This is the largest percentage increase since
1981, when farm real estate values rose 11.1
percent from the previous year. Cropland and
pasture values in the U.S. rose by 11.3 and 9.5
percent, respectively, from January 1, 2004.
Cropland values averaged $1,970 per acre
and pasture values averaged $694 per acre on
January 1, 2005, compared with $1,780 and
$644 per acre, respectively, a year earlier.”
In South Carolina, farm real estate values
experienced an increase of 8.4 percent from
2004 to 2005, compared to a 4.9 percent
increase from 2003 to 2004.
The increase in farm real estate values
was driven by a combination of factors,
including low interest rates, high commodity
prices and a strong demand for nonagricultural
land uses. 
Farm Real Estate: Average Value per acre
Year
2002
2003
2004
2005
Change (04-05)
48 States
1210
1270
1360
1510
11%
Southeast:
2,140
2,270
2,420
2,740
13.2%
SC
1,900
2,050
2,150
2,330
8.4%
Cropland: Average Value per Acre
Year
2002
2003
2004
2005
Change (04-05)
48 States
1,590
1,660
1,770
1,970
11.3%
Southeast
2,240
2,350
2,460
2,960
20.3%
SC
1,600
1,750
1,850
2,050
10.8%
Pasture: Average Value per Acre
Year
2002
2003
2004
2005
Change (04-05)
48 States
577
605
644
694
9.5%
Southeast
1,870
2,010
2,150
2,400
11.6%
SC
1,750
1,900
2,000
2,150
7.5%
AgSouth’s S.C. Land Values Per County (as of 07-31-05)
County:
Number of Sales:
Average Tract Size:
Average $/Acre
Aiken
109
87
$2,918
Anderson
48
95
$4,576
Berkeley
29
101
$6,060
Charleston
19
107
$7,035
Colleton
48
82
$1,965
Dorchester
27
102
$6,945
Edgefield
48
103
$1,887
Kershaw
63
99
$1,950
Lancaster
47
105
$4,197
Lexington
55
96
$5,888
Orangeburg
69
91
$1,498
Richland
29
83
$6,106
Spartanburg
58
93
$5,158
York
71
91
$3,952
Information was compiled from deed transfer data provided by Real Estate Information Service, Inc., Charleston, SC, and includes sales between 50 and
200 acres, with no buildings, which sold from January 1, 2004, through July 31, 2005. Information is not available for all counties in our service area.
Expedition Nutrition:
The Bike Stops Here
By: Miriam Pflug, Marketing Manager
A
gSouth Farm Credit-sponsored
bicyclist Alex D. Gleason arrived at
the final destination of his Expedition
Nutrition trip on Friday, August 12, escorted
by a police motorcycle brigade and welcomed
by state officials, friends and family.
Gleason spent two months traveling
across fifteen states before completing his
journey at the Isle of Palms County Park, S.C.,
where he dipped the wheel of his bicycle into
the Atlantic Ocean, symbolizing the end of a
journey that began more than 3500 miles away
at the Pacific Ocean in Olympia, Wa.
The purpose of Alex’s trip was to promote
the importance of agriculture, the urgency of
proper nutrition and the need for a healthy
lifestyle for all Americans. His quest was
more fully outlined in the summer issue of the
AgSouth Leader.
State Commissioner of Agriculture Hugh
Weathers, an AgSouth member and director
who biked with Alex on the last stretch of his
journey from Summerville, S.C., to the Isle
of Palms, said that Alex did what he set out
to do: “he promoted public awareness of the
importance of proper nutrition and exercise.”
Jerry Bishop, regional vice president
of AgSouth Farm Credit in Summerville,
coordinated Alex’s welcome home event,
which was sponsored by AgSouth and Coburg
Dairies.
Alex plans to write a book on his
experiences based on his journals from the
trip. “Expedition Nutrition was my attempt
to make a positive difference in the lives of
others,” he said. “America leads the world
in the production of quality food. Why don’t
we teach people to eat healthy?” Alex is
recommending the addition of food science
and nutrition courses to the agricultural
education curriculum in secondary schools.
We at AgSouth salute Alex for his
remarkable journey. 
Above: Commissioner of Agriculture and
AgSouth Director Hugh Weathers (r) rode the
last stretch of Gleason’s 3500-mile journey
with him, ending at the Isle of Palms, S.C.
AgSouth Regional Vice President Jerry Bishop
welcomed Alex back from his expedition with a
party in his honor.
2005 State 4-H Congress
Draws Hundreds
By: Miriam Pflug, Marketing Manager
Members of the Farm
Credit-sponsored
Wildlife Judging team
received top honors in
the competition.
(l to r): Coash David
Williams, Andrew
Davidson, Anna
Collins, Byron Collins,
Sammy Hodges
S.C. Lowcountry
Safety Chapter
Joins Network
By: Denna Rentz, Credit Analyst
Nearly 140 different communities across the
U.S. and Canada have joined local volunteers
to help raise awareness about childhood farm
safety through a group called “Farm Safety
4 Just Kids” (FS4JK). FS4JK is a non-profit
organization that produces and distributes
educational materials on farm safety throughout
the United States. The S.C. Lowcountry Safety
Chapter in Walterboro, S.C., is the newest
member of the expanding network.
Marilyn Adams, FS4JK spokesperson
and founding president, welcomed the S.C.
Lowcountry Safety Chapter to the chapter
network. “It is through volunteer efforts from
local chapters that Farm Safety 4 Just Kids
reaches millions of children, youth, and farm
families with valuable farm safety information
each year. The chapters are truly invaluable to a
safer future of farming and ranching,” she said.
Adams began the organization after her 11-yearold son was killed in a farming accident.
Local businesses and individuals are
encouraged to get involved through financial
donations or volunteer time. For more
information or to join the chapter, contact Lynn
Huggins at 843-549-1821 or
[email protected] or AgSouth Farm
Credit employee Denna Rentz at 843-549-1584
or [email protected].
If you are interested in forming a local
chapter of the organization or for more
information, contact 800-423-5437. 
Public Speaking winner
Ward Black with (from
the left) Shannon
Smith, 4-H Program
Assistant, AgSouth
Marketing Manager
Miriam Pflug, and
Mary Ellen Blackburn,
Extension Service
The 63rd Annual State 4-H Congress was held
July 19-22 at the Crowne Plaza Ravinia in Atlanta,
Ga. The event, co-sponsored by AgSouth Farm
Credit, brought in hundreds of business, corporate
and educational leaders, who joined together
to recognize the outstanding young people
participating in this year’s competition.
More than 3,000 Georgia 4-H’ers competed
at the county and district levels of the competition.
The state event brought together the top
competitors in each senior project to demonstrate
what they had learned throughout this yearlong
competition.
More than 235 4-H’ers, representing 101
Georgia counties, presented demonstrations and
portfolios in categories such as computers, public
speaking, performing arts, veterinary science,
conservation, target sports and wildlife and marine
science. University of Georgia faculty and other
experts in each field evaluated the demonstrations
and interviewed participants on their presentations
and portfolios. These interviews gave 4-H’ers
opportunities to interact with professionals and
to glean valuable knowledge and insight into the
subject matters they had chosen.
According to State 4-H Leader Dr. Roger C.
(“Bo”) Ryles, “The young people here develop
their communication skills, but the value of State
4-H Congress is much broader and deeper than
that. When you combine what they learn through
their project work with their interaction with the
academic, business, civic and corporate leaders
they meet, you’d be hard-pressed to find a stronger
leadership development system anywhere.”
Georgia 4-H served 197,659 students
in 2004. A valuable part of its mission is
to equip each student with leadership and
problem-solving skills, a sense of belonging,
self-discipline and responsibility. For more
information about Georgia 4-H, please contact
the state 4-H office at 706-542-4H4H. 
Statesboro, Ga., Office Expansion Complete
By: Dewey Newton, Vice President
On October 13, 2005, AgSouth Farm Credit
held an open house and ribbon cutting for
the expansion of its corporate headquarters
located in Statesboro, Ga. The open house
took place in the new administrative building
located at 26 South Main Street. Members
of the Chamber of Commerce and other
local businesses were in attendance for the
ceremony, along with AgSouth members,
directors and employees.
Refurbishing the 8,500 square foot office
building took over 18 months to complete.
The building houses the corporate loan
department and a portion of the administrative
office personnel.
According to AgSouth President Bill
Spigener, “When we merged with Palmetto
Farm Credit in January of 2004, AgSouth
doubled in size, making Statesboro the main
headquarters of a $1.2 billion association. We
also have administrative offices in Orangeburg
and Spartanburg, S.C. Additionally, we
have experienced tremendous growth in
the Statesboro area in the past few years,
requiring us to hire additional personnel. The
board decided that we needed more space to
better serve our members.” Ga. Divisional
President Craig Peebles added, “Purchasing
and renovating the former City Hall building
was more convenient than relocating the
branch to a larger location, and we are very
happy that we were able to expand adjacent to
our existing facility.”
The new AgSouth Farm Credit
administrative office is housed in the former
Statesboro City Hall building originally
constructed in 1917 as the city’s post office,
and is beside the current AgSouth office at
40 South Main Street. For more information
about the renovation of AgSouth’s new
administrative offices, please contact Pat
Bowen at 912-764-9091 or
800-633-9091. 
The new Statesboro office building is adjacent to the main office at 40 South Main Street.
The historic building, built in 1917, is the former home of Statesboro’s City Hall.
The Equine Industry:
Where is it Headed?
By: Kristine Vernon, Dr. John Gibbons, Assistant Professor, Animal & Veterinary Sciences Department, Clemson University
T
he horse industry is very unique and
multi-faceted. Many people associate
horse ownership with wealthy
individuals; however, people from all walks of
life own, raise, race, show and ride horses. The
horse industry in the United States contributes
$39 billion in direct economic impact to the
U.S. economy and supports 1.4 million jobs
on a full-time basis, including a large variety
of activities from on-farm management to
associations, according to a study completed by
Deloitte Consulting, LLC. When indirect and
induced spending are included, the industry’s
economic impact in the U.S. reaches $102
billion. The study also estimates the horse
population in this country has reached 9.2
million. Quarter Horses make up the largest
single breed, at just over 3.2 million, with
Thoroughbreds coming in second at 1.2
million.
In a study commissioned by the
American Horse Council, the horse industry
is both large and economically diverse,
and is a key contributor to the overall U.S.
economy. Horse owners and industry suppliers
(manufacturers, distributors and retailers),
trainers, breeders, racetracks and off-track
betting operations, horse shows and other
industry segments all generate discrete
economic activity contributing to the overall
industry. Approximately $32 billion of the
above economic impact is generated from the
recreational segment, almost $29 billion from
the showing segment and $26 billion from the
racing segment. This highlights the growing
popularity of recreational riding and disputes
the concept that horses are only for the wealthy.
According to a recent article in
Sandlapper magazine, the most recent statistics
from the South Carolina Department of
Agriculture showed 90,000 horses and more
than 40,000 equine owners in South Carolina.
Multiplied by an average annual maintenance
cost of $3,300 per horse, that translates into a
local economic impact of almost $300 million
- just for maintenance alone. That figure
approximates the estimated dollar impact
of South Carolina’s beef, dairy and swine
industries combined. When you add in the
support industries - ranging from hay farmers
to insurance companies - total economic impact
in South Carolina averages approximately $1.2
billion annually. According to the most recent
University of Georgia study, Georgia is not far
behind South Carolina, with a $750 million
economic impact on the state annually.
Horses have a significant role in
our history, and will continue to serve a
variety of roles for Americans, such as:
recreation/pleasure, agriculture, showing/
racing and production/commodity. From the
grassroots level to our nation’s congressional
representatives, horses are recognized as
an integral part of American culture. Future
growth of the industry is predicted to continue
towards recreational riding. Many people are
discovering new passions for activities out of
the show ring and off the track. The average
horse owner rides only a few times a month
and enjoys trail riding on the weekends. As
a whole, the horse industry will continue to
thrive, leaving a positive impact on the nation’s
economy, culture and recreational habits. 
The complete study is available through:
American Horse Council, 1616 H Street, NW,
7th Floor, Washington, DC 20006 or
202-296-4031.
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Albany, Georgia
Curt Hall
Lee Walters
Crisp Gatewood
Charleston, South Carolina
Contact
Chip Hall
Lynn Dantzler
229.888.2500
843.958.0222
www.plantationservicesinc.com
Visit our site for information on available properties.
If you would like to be placed on our mailing list, please call 229.888.2500 or e-mail [email protected].
Hartnett’s polo pony barn at New Bridge Polo Club.
Cotton Fields Give Way
to Polo Fields in Aiken
Aiken has always had horses, serving as the “winter colony” for Northern horse
enthusiasts who valued the mild winter climate and riding trails throughout the Hitchcock
Woods. But now more and more of Aiken’s peach and cotton fields are making way for
polo fields, as horse lovers from all incomes discover the merits of the area.
Polo mallets and hats hang in Hartnett’s office
M
organ Stanley financial consultant
Rick Hartnett, a polo aficionado,
first visited Aiken, S.C. to play
polo in the late 70s, when the sport was just
getting revitalized. Aiken, which is home
to the oldest polo club in the United States,
has always had a penchant for horses, which
have become a vital part of the Aiken area
agribusiness economy in the last several
decades. It’s still hard for some to believe that
this “sport of the wealthy” has found a home in
a small southern town. After all, until recently,
South Carolina was known more for its
peaches than for its ponies. Aiken has always
had horses, serving as the “winter colony” for
Northern horse enthusiasts who valued the mild
winter climate and riding trails throughout the
Hitchcock Woods. But now more and more of
Aiken’s peach and cotton fields are making
way for polo fields, as horse lovers from all
incomes discover the merits of the area.
For the first time Aiken is the site for the
Gold Cup polo tournament, which is being
hosted at New Bridge Polo and Country Club
and Langdon Road Polo Club. The Gold Cup
is played every fall and is considered to be
one of the most prestigious polo tournaments
in the United States, second only to the U.S.
Open, which is held each spring in Florida.
In conjunction with the Gold Cup, lower goal
tournaments are played, of which Hartnett is a
big supporter, eagerly entering his own team
under the Winfield Polo name.
Hartnett grew up around horses – his
parents always had horses to ride – but it
AgSouth is a co-sponsor of the Gold Cup.
wasn’t until he was 12 that he got into the sport
of polo. It quickly became a passion, which
he’s pursued faithfully for the past 44 years.
These days he still plays whenever he can,
although, admittedly, not as hard as he used
to. “Some people live to work,” he says. “I
work to be able to play.” He shares his passion
of horses with his wife Ann and his children,
Willie, Taryn and Britten. Ann is a successful
amateur hunter/jumper rider, while Willie is an
avid polo player like his father.
When Hartnett returned to Aiken in 2001
for the annual Aiken Polo Pony Auction, he
realized the potential of the surrounding lands
and purchased 129 acres, which he considered
undervalued at the time. “I couldn’t believe
how much Aiken had changed,” he said,
referring to his initial look at the typical small
southern town thirty years ago. “It had turned
into a great horse community and a wonderful
place for families. I just fell in love with it.”
Rick turned to his friend and AgSouth
Farm Credit member Tom Biddle, also a
horse lover and current President of the
United States Polo Association, to ask where
to go for financing. Tom had no hesitation in
recommending AgSouth. According to Tom
Hair, a regional vice president in AgSouth’s
Aiken office, “Rick and Ann Hartnett are
genuinely nice people and a pleasure to do
business with. Their business savvy is a great
asset to the AgSouth family and the Aiken
equine industry.”
Shortly after purchasing the property, Rick
returned with Ann, and she, too, fell in love
with the property, so much so that the couple
decided to build a home there. As you might
expect, the home is no ordinary home, unless
you consider having a polo practice field in
your back yard “ordinary.” The property also
houses stables for the five hunter/jumpers Ann
shows up and down the East coast. Rick’s
barn, a larger version of Ann’s, is five or six
miles away at the New Bridge Polo Club.
There he keeps his 36 Thoroughbred ponies,
75% of which are the mares he uses for polo.
He shuffles the ponies between Aiken and his
Florida barn in the winter months, where they
stay from around Christmas to early April,
when they go back to Aiken for the spring
matches.
With “his” and “her” barns and a place
to play out his polo passion, Rick Hartnett has
fallen in love with the area and plans to stay
there. “I feel my blood pressure go down every
time I’m at my home in Aiken. This is my own
piece of heaven, and I couldn’t be happier than
when I’m here.”
continued on page 22
The crowd goes onto the field to stomp the divots.
Interesting Polo Facts:
1. There are no left-handed players allowed
in polo. When you’re galloping along at 35
miles an hour with a mallet in your hand
and a thousand pound pony underneath you,
crossing, a head-on collision with someone
playing opposite you is the last thing you
want.
2. Polo consists of six “chuckers,” or periods,
each of which lasts seven minutes. Twominute intervals separate each chucker.
Because the ponies run at full gallops during
each chucker, it’s usual for a polo player to
change horses after each interval.
3. Stomping of the divots is a tradition that
occurs at halftime during each game. This is
the only time spectators are allowed on the
field and is considered an honor.
4. Teams change direction after a goal is
scored, which can make the game hard
to follow unless you are carefully paying
attention.
5. Polo players are assigned handicaps
by committees appointed to review and
assess players’ performances. The range of
handicaps runs from –2 to a 10 goal, which
is the highest rating assigned and reserved
for the best players in the sport.
6. Polo mallets are made of bamboo, with the
heads being made of hardwood. They range
from 48-54 inches in length, and it’s not
unusual for a player to go through several
during a single game. 
Groomsman Pancho Perrones with Terranova.
Equine Winter
Husbandry
By: David Hardy, DVM
W
ith all of the warm weather we’ve
been having lately, it’s hard to
believe that it’s time to start
planning ahead for the upcoming winter. For
horse owners, quality hay will be a priority.
Make sure you store away enough hay to
supplement your horses’ diets through the
winter months when pasture grass is hard to
come by. Many horse owners in South Carolina
and Georgia feed their horses coastal Bermuda
hay. It is important to note that coastal
Bermuda can be linked to a form of “colic”
known as a cecal impaction when it’s fed to
horses that are not accustomed to it.
A few other less commonly fed types of
hay in this area are Timothy and alfalfa. If you
feed your horses alfalfa, be sure it’s of good
quality and is free of blister beetles. These
bugs carry a poison known as cantharidin.
This poison can cause painful blistering and
ulceration throughout the digestive tract of
your horse. I recommend having a sample of
your hay analyzed for its nutritional value. See
your local extension agent for more details on
how to do this.
During the winter months, we also tend to
feed our horses more grain to supplement their
diets. Be careful of the amount and frequency
of grain you’re feeding your animals. Sweet
feed, rolled oats, whole corn, etc., are
considered concentrates. They are energy-dense
food sources. The old notion of “a little is okay,
but more is better” is not true when it comes to
feeding your horses concentrates. An ailment
known by many as “foundering” (a.k.a.,
laminitis) can occur when horses are either fed
too much grain or accidentally get into a bag of
grain. The classic stance of a horse foundering
is one that is reluctant to move and stands with
its front legs parked out in front with most
of the weight positioned over the rear legs. If
you find one of your animals in this position,
you should immediately contact your local
veterinarian.
While you’re considering what types of
hay and grains to feed your horses, it is crucial
not to forget that water is essential to your
horses’ health. Fresh water should be available
for your horses at all times. When you
consider that a thousand pound horse needs
approximately five to six gallons of water a
day for hydration and health maintenance, it’s
not so difficult to understand why veterinarians
tend to see more colic during changes in the
weather. Many horses have an aversion to cold
water, and therefore do not drink adequate
amounts during the winter season. It is very
common for water to freeze over when it is
cold outside, so be sure to break through any
ice that may form daily so that your horses
always have access to fresh water. Some horse
owners have heated water sources, which are
nice when they work properly, but stray voltage
can become a deterrent of water consumption,
so be sure to check these devices regularly.
If you have questions about what is right
for your horses, you should contact your local
veterinarian. 
David Hardy, DVM, is a veterinarian at Trinity
Ridge Animal Health in Laurens, S.C. If you
have any questions about this article, you may
contact him at 864-682-8724.
Loy D.’s nephew still grows more than 225 acres of cotton on the property.
Director Loy D. Cowart
By: Pat Calhoun, Senior Vice President
The Cowart homestead has been in his family for 200 years.
L
ocated just west of Twin City, Ga.,
AgSouth director Loy D. Cowart,
Jr.’s farm is nestled amidst peanut
and cotton fields that have been in his family
for 200 years. “We’ve still got the original
leather-bound land grants in the safe,” Cowart
told AgSouth’s John Clark and Pat Calhoun
during a recent visit to the Cowart farm. The
house was originally built in 1895 and was the
birthplace of Loy D.’s father. Cowart and his
wife Annie Jo remodeled it in 1995, and moved
back into the family homestead.
Cowart’s earliest recollections of
life on the farm are of the four families of
sharecroppers who tended the land. “They each
grew five or six acres of tobacco, plus peanuts,
corn and cotton, and had their own mules that
we kept here in the barn,” he said, referring
to a large six-stall mule barn that remains on
the property to this day. The Cowart family
expanded into the dairy business in 1941, handmilking approximately twenty cows. As a teen,
Loy D. delivered milk to Twin City, Garfield
and other surrounding communities before
going to high school each day. “There was a
lot of work involved in the dairy business,”
Cowart remembers.
Cowart also recalled the first “A” model
Farmall tractor purchased by his father in the
1940s. “That tractor was the beginning of
change,” he noted. “Mules were taken from
the farm and replaced by more tractors and
equipment. Technology is the single biggest
change I’ve seen in agriculture,” Cowart
remarked. “It impacted nearly everything on
the farm. Our small dairy operation changed
overnight with pasteurization laws. Planting,
cultivating, harvesting - they all changed.”
Capital requirements have changed too. “I
remember when a $1,000 PCA operating loan
was a big deal,” said Cowart, and he should
know; his father first served on the local PCA
board in the late 1930s. Loy D. followed his
father’s footsteps when he was elected to the
Swainsboro PCA board in 1968. A Farm Credit
member since the 1950s, Cowart remarked
that the cooperative structure of AgSouth is its
most important benefit. “We’ve been through
mergers and consolidations since the late 60s,”
Cowart said, “but maintaining our cooperative
structure has always been the board’s highest
priority.”
Cowart also praised the high value placed
on customer service by AgSouth’s employees.
Cowart shows AgSouth Senior Vice President
Pat Calhoun a barn that has been on the
property for nearly 150 years.
“They give quick, quality service because they
know what they’re doing when it comes to
financing and agriculture,” he said.
Cowart is involved in rural Georgia
through several affiliations. In addition to
serving on AgSouth’s board, he is active on the
boards of Durden Banking Company, Pineland
Telephone Cooperative and the Development
Authority of Emanuel County. 
Save the family and the farm
Landowners without an
It’s an all too common
estate plan risk losing
situation you can avoid.
the family farm to
At Ellis Lawhorne,
estate taxes, but also risk
it’s our business
losing something greater,
to keep your land
family harmony.
Erin Cook
1 5 0 1
M a i n
in the family.
David Sojourner
Karen Thomas
Rita Cullum
S t r e e t , 5 t h F l o o r • C o l u m b i a , S o u t h C a r o l i n a
8 0 3 . 2 5 4 . 4 1 9 0 • e l l i s l a w h o r n e . c o m Autumn 2005, AgSouth Leader | 25
Dove Hunting & Baiting
By: Laura Harriman Wheaton, Brown, Rountree & Stewart PC
W
ith the onset
of fall,
there will
be many hunting
opportunities for
different animals
and birds, including
LAURA WHEATON
mourning doves, which
are popular throughout North America. Many
farmers and other rural land managers engage
in land practices for the purpose of attracting
doves for shoots. While federal law prohibits
outright baiting of dove fields, there are many
practices that hunters can use for the purposes
of attracting doves without violating federal
law.
Section 704(b) of the Migratory Bird
Treaty Act makes it unlawful to hunt any
migratory bird, including mourning doves, with
the aid of baiting or over or on any baited area
if the hunter knows or reasonably should know
the area is baited. Federal regulations define
a baited area as any area on which salt, grain
or other feed has been scattered or distributed
if that salt, grain or other feed would serve as
a lure for birds where hunters would attempt
to take them. A baited area remains baited for
ten days following the complete removal of
any such bait. In other words, even if there is
no visible bait on a particular field, it is still
considered to be baited if it has been ten days
or less since the bait was removed.
Despite these restrictions, there are
many lawful preparations that can be done
specifically for the purpose of attracting doves
for hunting. For example, in most states, a
field can be planted as a wildlife food plot,
provided that the planting is done in a manner
consistent with that allowed by the state
extension service. Additionally, seeds that are
attractive to doves may be planted if done so in
accordance with extension service guidelines
for producing a crop. It is also permissible to
hunt on a field that has been baited throughout
the year as long as all bait has been removed
ten days before the hunt. But be careful removal must be absolute.
The key to whether it is lawful to hunt
on a given field where there has been some
preparation is whether that preparation is in
accordance with normal agricultural practices.
For example, while it is unlawful to hunt
doves on a field where seed has been randomly
scattered on the ground, it is permissible
to hunt them in a field where seed has just
been scattered and covered by disking or
cultipacking, but only if this is part of a real
agricultural practice. Similarly, doves may
be hunted in a field with standing crops or
where crops have been properly cut or burned
following the harvest. It is also permissible
to manipulate crops or natural vegetation
in order to attract more birds as long as this
manipulation does not include the distribution
or scattering of seeds or other feed after
removal from or storage on the field where it
was grown. However, this practice does not
apply to hunting for waterfowl.
An interesting case arose in Alabama in
2001 in which a hunter was accused by the
government of baiting a dove field and hosting
a shoot less than ten days later. The hunter
admitted that he had set aside a ten-acre plot of
the two hundred acres he cultivated as a “dove
field.” He had alternated rows of sunflowers
and brown-top millet with strips of disked or
tilled earth. During the off-season, wheat seed
was placed on the disked strips for the purpose
of attracting doves. Prior to hunting season, the
hunter disked the wheat seed strips to eliminate
the seed in sufficient time. On October 3, the
hunter spread wheat seed in the disked strips
for the purpose of producing a winter
cattle crop. He then set out to cultipack
the seed in order to cover it, which was
preferable to re-disking the field, which
would have placed the seeds too deep
to germinate. However, his cultipacker
broke as he was loading it, and he had to
have it fixed. This left the seed exposed
for a few days. When the cultipacker was
returned on October 5, he cultipacked the
seed. On October 7, the hunter hosted a
dove shoot on the field and was arrested
by federal agents for having the
hunt on a baited field. He was
prosecuted on the theory that
the exposed seed was bait which
had not been removed more than ten days
before the shoot. The court found the hunter
not guilty because his actions on October 3
and 5 were consistent with normal agricultural
practices and constituted a bona fide attempt to
properly cover the wheat seed.
This case is interesting because it reveals
the subtleties and complexities of what is
lawful and what is not. The fact that the field
was cultivated for the specific purpose of
attracting doves and that seed had been placed
on the disked areas during the summer did
not constitute an offense, nor did the planting
of wheat seed covered only by cultipacking
because this was an accepted agricultural
practice. However, had the hunter spread the
seed and not made an effort to cover it shortly
thereafter and then held a hunt less than ten
days later, it is likely that the court would have
found him guilty because leaving the seed
exposed is not an accepted agricultural practice
and would have instead been considered
baiting.
This article only addresses federal law
issues of baiting a dove field. For further
information, you can access a brochure
distributed by the federal Fish and Wildlife
Service at www.le.fws.gov/pdffiles/Dove_
hunting_baiting.pdf. There are several other
state and federal laws and regulations that also
apply to hunters of all types. Hunters should be
aware of these as well and consult beforehand
with state and federal
rangers if there is any
doubt about the law. 
This article does not
constitute legal advice.
See your attorney to
discuss issues unique to
your circumstances.
Fertilizing Turfgrass
By: Bob Polomski, Clemson Extension Consumer Horticulture Information Coordinator
Lawns require the major nutrients nitrogen,
phosphorus and potassium in the greatest
quantities. Nutrients needed in minor amounts
and applied less frequently are calcium,
magnesium and sulfur. These minor elements
are usually present in a large enough quantity in
the soil that they do not need to be added with a
fertilizer. Follow the recommendations on your
soil test report to select the right fertilizer for
your lawn. Soil testing materials can be picked
up at your local university extension office, such
as Clemson University Cooperative Extension
Service in South Carolina or the University
of Georgia Cooperative Extension Service in
Georgia.
Select slow-release nitrogen fertilizers
(one-half of the total amount of nitrogen is water
insoluble nitrogen or W. I. N.) for sandy soils,
compacted clay soils or sloped areas where
the potential for runoff is very high. Since the
nutrients are released slowly, you reduce the
chances of polluting surface and groundwater
and “burning” the grass plants.
Fertilize cool-season grasses like tall fescue
in the fall and early winter. Warm-season lawns
comprised of Bermuda, centipede, St. Augustine
and zoysia grasses should be fertilized in the
summer, no earlier than two to three weeks after
the lawn turns green in the spring. 
AgSouth’s Privacy Procedures
Your privacy is important to us. At AgSouth
Farm Credit, we want you to know that
we hold your financial and other personal
information in strict confidence. Since 1972,
Farm Credit Administration regulations have
prohibited institutions from disclosing personal
borrower information to others without the
customer’s consent. We do not sell or trade our
customer’s personal information to marketing
companies or information brokers.
The FCA allows us to disclose customer
information to others only in the following
situations:
•
We may give it to another Farm Credit
institution with which you conduct
business.
•
We can be a credit reference for you with
•
We may disclose customer financial
other lenders and provide information to a
information in the ordinary course of
credit bureau or other consumer-reporting
business to third parties when seeking
agency.
government guarantees, loan syndications,
•
We can provide information in certain types
participations, etc., or when loans are
of law enforcement proceedings.
being sold on the secondary market to
•
FCA examiners may review loan files
Fannie Mae, Farmer Mac, etc. These
during regular examinations of our
activities all involve actions on your
association.
AgSouth loan, and information may not be
•
If one of our employees applies to become
a licensed real estate appraiser, we may
give copies of real estate appraisal reports
to the state agency that licenses appraisers.
We will first remove as much personal
used for other purposes.
As a borrower of this institution, your
privacy and the security of your personal
information are vital to our continued ability to
serve your ongoing credit needs. 
information from the appraisal report as
possible.
AgSouth’s Market
FOR SALE: Secluded Cabin and 18 acres in
Screven Co, Ga., 18 acres on Beaver Creek
with fully furnished cabin. Approximately
3 acres open with pecan trees. Property
frontage on 2 major highways. Deep well,
out buildings, including storage, garage and
shed for RV, (wired). Near Tuckahoo Wildlife
Management Area. $215,000.
Contact 912-564-7177
FOR SALE: 6.28-acre commercial lot located
at intersection of 2 major highways. Direct
route to Port of Savannah, Ga. Zoned highway/
commercial. Screven Co., Ga. $810,000.
Contact 912-564-7177.
FOR SALE: Investment property in Screven
Co, Ga. Mobile home park started in 1995. 25
developed spaces, with land for 6 additional.
City utility services. Includes 8 late model
(rental) mobile homes in excellent condition.
Good income producer. $338,000.
Contact 912-564-7177.
LOOKING FOR: 3-5 acres in Ware, Pierce
or Brantley County (close to Ware) to build
house in the $15-$20,000 range. Price must
be reasonable per acre. Contact Misty @
[email protected].
LOOKING FOR: 1-2 acres in Brantley Co,
Ga. Prefer to be around Hoboken area.
Contact Leesa @ 912-458-3004.
LOOKING FOR: 5+ acres in Pickens or
Oconee Co., SC, for home site. Contact
[email protected] or call
Calvin Becker @ 864-654-0104.
FOR SALE: 400+ acres near Colquitt,
Ga. Great site for horses, dogs, cattle or
home sites. Permitted 12” irrigation well.
180 center pivot irrigated acres. 100 acres
natural & planted long-leaf pine w/natural
cypress pond. Abundant wildlife. Airstrip
potential on property. Resident farm &
wildlife management available. Minutes away
from Lake Seminole & the Chattahoochee
& Flint Rivers & Spring Creek. Contact
[email protected] or call
229-220-5466 or 229-758-6174.
FOR SALE: South Fulton County, 4.8 Acre
plant nursery w/ 15 greenhouses and office.
Please call Jeff Comer 770-460-1919
FOR SALE: 11.5-acre horse farm in Brooks,
Ga (Fayette Co). 3600 sq. ft Victorian-style
home, 5-stall barn, lit riding ring. Beautiful
property backs to stocked lake. $570,000.
Contact Melanie @ 678-817-7080 or
[email protected].
FOR SALE: 64+ acres in Monroe Co, Ga.
30+/- acres in pasture. Six 12 x 12 block
buildings with 6’ chain link runs. Outstanding
horse ranch possibilities w/beautiful building
sites on ridge overlooking pastures. Well,
2 septic systems & 2 electrical panels.
$5500/acre. Contact 678-817-9240 or
[email protected].
FOR SALE: 118+ acres in Morgan Co, Ga.
5080 feet of road frontage on Ga Hwy 441 5
miles north of Madison, Ga. Mixed hardwoods
and pines. Property is boarded by Beaver Dam
Creek on one side and Hwy 441 on the other.
Two other creeks on the property w/great lake
site. Good investment property or hunter’s
paradise. Excellent deer, duck & turkey
hunting, along with all types of small game.
Very private. Flood plane along part of Beaver
Dam Creek. $10,000/acre.
Call Bill or Rhonda @ 706-342-7932.
FOR SALE: 63.79 acres in Pike Co, Ga.
with 4,773 sq ft custom home built in 1999.
New Hebron Church Rd. Additional 99 acres
available for purchase.3-car garage & separate
2-car garage w/upstairs game room with CH/A
& a pool table. Heated pool. 5BR/5-1/2 bath
traditional Cape Cod. Guest suite & office w/
custom book shelves & cherry paneling, DR,
GR w/custom book shelves, open kitchen &
breakfast area, 2-story foyer leads you upstairs
to 3 BRs with personal full baths, media
room & exercise room with all equipment.
Front covered porch & screened & open back
porches. $1.5 million. Contact Staci Donaldson
@ 770-228-5657 or 404-787-6451.
FOR SALE: Desirable investment property
in Screven Co, Ga. 10 well maintained rental
homes - energy efficient - each located on 1acre lots. 100% occupancy, 4 miles from the
City of Sylvania. $960,000.
Contact 912-564-7177.
FOR SALE: Investment Property in Screven
Co, Ga. Partially developed subdivision inside
city limits of Sylvania. Approximately 38
lots to be developed, 13 Single-family rental
homes already in place for immediate income.
Includes several thousand board feet of old
growth pine timber. $1,150,000.
Contact 912-564-7177.
FOR SALE: 103.285 acres in Taylor Co, Ga.
$2,250/acre - will divide into 25.8-acre lots.
Contact Jeff Comer @ 770-460-1919.
FOR SALE: 285 acres in Upson Co, Ga. Road
system throughout property. Rustic log cabin
overlooking 4-acre lake. Several outbuildings.
225 acres planted in mature hardwoods and 40
acres in 20-year old pines. $1,700,000. Contact
Butch Armistead @ 770-468-3077 or Mark
Hawkins @ 706-975-8888.
FOR SALE: 198.697 acrees in Taylor Co, Ga
Includes 32’x73’ lodge, extensive road system,
$100,000 in timber value. Great hunting.
$2,200/acre.
Contact Jeff Comer @ 770-460-1919.
FOR SALE: 515 acres in Taylor Co, Ga; 5400
feet of paved road frontage; 1000 feet of Black
Creek frontage; 1997 mobile home; 30’ X 40’
metal barn on concrete slab; additional wooden
barn with metal roof; $2,000/acre. Contact Jeff
or Jim Comer @ 770-460-1919.
FOR SALE: 71.632 acres in Upson Co, Ga.
1,000 ft. of Hurricane Creek frontage. $4,100/
acre. Will divide.
Call Jeff Comer @ 770-460-1919.
Don’t forget to browse our website for more items and properties. To add or delete something from
AgSouth’s Market, please contact [email protected]. If you find what you’re looking for,
don’t forget to contact your local AgSouth office for your financing needs!
Insurance Policy
Statement
AgSouth Farm Credit, ACA (Association) loan
agreements and/or commitment letters stipulate that
borrowers obtain and maintain insurance on property
pledged as collateral for loans with the association named
as mortgagee or loss payee as appropriate.
This notice is a reminder that the minimum amount
of coverage required to be maintained is the lesser
of your loan balance(s), the actual cash value of the
property, the replacement cost of the property or the
amount stipulated by your loan officer. Since the amount
required could be less than the amount for which the
property can be insured, you are encouraged to consider
higher limits where applicable to adequately protect your
equity interest in the property.
If the property securing your loan consists of
improved real estate, unless otherwise advised, at a
minimum, your policy must insure against the following
perils: fire and lightning, wind, hail, aircraft or vehicle
damage, riot or civil commotion, explosion, smoke
damage, water damage (other than flood), falling objects,
weight of snow, ice or sleet and vandalism. Loss or
damage from flooding is also required if your loan was
made after October 4, 1996, and at the time the loan
was made the property was located in a government
mandated Special Flood Hazard Area and flood insurance
was available.
If the property securing your indebtedness consists
of personal property including vehicles, machinery or
equipment, in addition to the causes of loss cited in the
proceeding paragraph, the property must also be insured
against theft, and where applicable, such as with mobile
machinery and equipment, collision and upset.
If your current coverage does not conform to
these requirements, please contact your insurance
representative and effect the necessary changes to insure
your coverage does comply with these requirements.
Please contact your local AgSouth Farm Credit
representative if you have any questions or comments.
spend time online, not in line.
ONLY
$19.9
5
JUST IN TIME FOR CHRISTMAS!
The Harry R.E. Hampton Memorial
Wildlife Foundation, and the South
Carolina Department of Natural
Resources brings you Wild Fare & Wise
Words.This wonderful cookbook, edited by
respected outdoor journalist Jim Casada
contains more than 200 delicious recipes
as well as outdoors writings by Casada and
others. This handsome book will easily find
a home on any counter top, or coffee table.
TO ORDER, COMPLETE THE ORDER FORM AND MAIL ALONG
WITH YOUR CHECK PAYABLE TO SCFFA ASSOCIATION TO:
John Parris, SCFFA Association, 1401 Hampton St. Columbia, S.C. 29201
Name:
____________________________________________________
Address: ____________________________________________________
____________________________________________________
City:
____________________________________________________
State:
______________ Zip: ________________________________
Price:
$19.95 ea.
Shipping:
+
$3.85 ea.
Quantity:
x
_________
Grand Total:
=
$____________
Now, standing in line to buy stamps or mail your payment is a thing of the past.
That’s right, through our new online payment feature of AccountAccess, you can
make your loan payments online—whenever it’s convenient for you—
24 hours a day, 7 days a week.
Go to www.agsouthfc.com and select AccountAccess to sign up for online payments.
It’s your time. Spend it the way you want.
Experience online loan payments today.
• Fast, easy and secure
• Free, 24/7 access to your account
• Avoid late fees. Your payment is posted as soon as the next
business day.*
• Store and use up to three separate checking or savings
accounts to make your payments.
AccountAccess
Your loan information. A click away.
Payments initiated before 2:30 p.m. Eastern Time will be processed that same day and funds should be
debited the next business day. Payments initiated after this time will be processed the next business day,
and payments should be made in two business days.
AgSouth Farm Credit, ACA
Consolidated Balance Sheets
Consolidated
Balance Sheets
(dollars in thousands)
Assets
Cash
Loans
Less: allowance for loan losses
Net loans
Accrued interest receivable
Investment in other Farm Credit institutions
Premises and equipment, net
Other property owned
Prepaid retirement expense
Due from AgFirst
Other assets
Total assets
Liabilities
Notes payable to AgFirst Farm Credit Bank
Accrued interest payable
Patronage refund payable
Postretirement benefits other than pensions
Other liabilities
Total liabilities
September 30,
2005
December 31,
2004
(unaudited)
(audited)
$
2,381
$
6,048
1,173,961
3,804
1,144,637
4,021
1,170,157
1,140,616
15,393
15,835
10,131
1,305
16,168
6,100
3,349
11,023
15,492
8,543
403
14,862
11,666
3,853
$ 1,240,819
$ 1,212,506
$ 1,023,446
3,869
650
10,189
6,197
$ 996,763
3,154
7,091
9,444
7,299
1,044,351
1,023,751
955
6,030
1,197
6,010
68,439
121,044
81,401
100,147
196,468
188,755
$ 1,240,819
$ 1,212,506
Commitments and contingencies
Members' Equity
Protected borrower equity
Capital stock and participation certificates
Retained earnings
Allocated
Unallocated
Total members' equity
Total liabilities and members' equity
Consolidated Statements of Income
AgSouth Farm
Credit, ACA
(unaudited)
(dollars in thousands)
For the three months
ended September 30,
2005
2004
For the nine months
ended September 30,
2005
2004
Interest Income
Loans
$ 21,776
$ 18,578
$ 61,999
$ 54,094
Interest Expense
Notes payable to
AgFirst Farm Credit Bank
Other
11,449
23
8,623
—
31,808
45
25,773
—
Total interest expense
11,472
8,623
31,853
25,773
Net interest income
Provision for (reversal of) loan losses
10,304
—
9,955
—
30,146
347
28,321
—
Net interest income after provision
for (reversal of) loan losses
10,304
9,955
29,799
28,321
560
159
342
85
1,812
253
1,805
209
2,295
2,078
6,759
6,153
Noninterest Income
Loan fees
Fees for financially related services
Equity in earnings of
other Farm Credit institutions
Gains (losses) on
other property owned, net
Gains (losses) on sale
of rural home loans
Other noninterest income
(170)
—
(311)
74
287
137
300
240
832
384
829
386
Total noninterest income
3,268
3,045
9,729
9,456
Noninterest Expense
Salaries and employee benefits
Occupancy and equipment
Insurance Fund premium
Other operating expenses
Restructuring charge
4,008
526
192
1,435
—
4,162
404
(131)
1,197
53
12,725
1,407
408
3,913
—
13,104
1,164
407
3,350
3,645
6,161
5,685
18,453
21,670
7,411
26
7,315
(21)
21,075
36
16,107
2
$ 21,039
$ 16,105
Total noninterest expense
Income before income taxes
Provision (benefit) for income taxes
Net income
$ 7,385
$ 7,336
Consolidated
Statements of
Income
(unaudited)
The shareholders’ investment in the association is materially affected by the financial condition and
results of operations of AgFirst Farm Credit Bank. Copies of AgFirst’s quarterly and annual financial
reports to shareholders are available free of charge at www.agfirst.com, or by writing to AgFirst
Farm Credit Bank, Financial Reporting Department, P.O. Box 1499, Columbia, SC 29202-1499.
THE JONES FINANCIAL GROUP
Serving The Agri-Business Community Since 1976
Specializing in the areas of business,
estate, and retirement services for
the agribusiness community.
AD
AgSouth Farm Credit
P.O. Box 718
Statesboro, GA 30459
Kenneth L. Jones
436 Arrowhead Lane
Round O, S.C. 29474
Telephone (843) 835-2970
Facsimile (843) 835-8264
PRSRT STD
U.S POSTAGE
PAID
COLUMBIA, S.C.
PERMIT 1160

Autumn - AgSouth Farm Credit

Transcription

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