Wells Pork and Beef, Inc.

Transcription

Farm Credit is
Unique as a GSE
CFFC Sponsorships
Autumn 2008
Cape Fear Country is published
quarterly for stockholders and friends
of Cape Fear Farm Credit.
President
Richard A. Eason
Board of directors
Ronald J. Allen, Chairman
Alfred K. Wooten, Vice Chairman
W. Thomas Butler
William Corbett Fields, Sr.
Dr. James Harriss
Gary Hendrix
Pelmon Jart Hudson, Jr.
Lyle Ray King
Daniel Lewis
Jeff Simpson
Arnold Drew Smith
Harold J. Smith, Jr.
Bo Stone
Terray Suggs
EDITOR
Danielle Curtis Talbott
Farmers are our business…
We speak your language.
 Crop insurance (multi-peril and crop hail)
 Poultry and livestock houses  Life insurance
 Health insurance  Annuities
Serving local farmers and ranchers in
NC, SC, VA, MD and DE.
Call us today for your next policy.
STUART SURLES INSURANCE
/'/#,)/#(&(+'#.&&#,++#.'&,
).*M[ij:[fejIjh[[jFE8en'+.7d]_[h"D9(-+&'
www.stuartsurlesinsurance.com
Publisher
AgFirst Farm Credit Bank
Publishing director
Donna Camacho
Design TEAM
Athina Eargle
Darren Hill
Amanda Simpson
Travis Taylor
Circulation
Kathi DeFlorio
Address changes, questions, comments or requests
for copies of our financial reports should be directed
to Cape Fear Farm Credit by writing P.O. Box 2405,
Fayetteville, NC 28302 or calling 910-323-9188.
Our quarterly financial report can also be obtained
on our Web site at www.capefearfarmcredit.com.
cont ent s
Cape Fear Country Autumn 2008
From our President
Farm Credit is Unique as a GSE. . . . . . 4
Feature
Wells Pork and Beef, Inc.. . . . . . . . . . . 5
YBS Spotlight
Earl and Genevieve Wilson . . . . . . . . . 8
5
How often are you in the meat
section at a local grocery store
chain and hear the people next
to you complaining about the
freshness of the selection of
meats?
Or, how many times do you go to that
grocery store looking for a specific cut
of meat only to get there and realize
they only carry a few basic cuts of beef
and pork, for instance?
FFA Student Perspective
12
Daniel Stanley. . . . . . . . . . . . . . . . . . . 10
The Elizabethtown branch of
Cape Fear Farm Credit helped
sponsor the 3rd annual Ag
'Em Up Day on October 1–2
at the Bladen County Park.
This event is organized by the Bladen
County Extension Service and partners
to give Bladen County third grade
students a chance to learn about the
importance of agriculture.
John Canuette. . . . . . . . . . . . . . . . . . . 11
Community News & Events
Elizabethtown Sponsors 3rd
Annual Ag ’Em Up Day in
Bladen County . . . . . . . . . . . . . . . . 12
CFFC Helps East Wake Academy
Expand Their Facility . . . . . . . . . . . 14
Workshop “Environmental and
Economic Benefits of Capturing
Swine Manure Methane” is Held
at the Sampson County
Agri-Exposition Center. . . . . . . . . . 15
CFFC Sponsors 4th Annual N. C.
Muscadine Harvest Festival. . . . . . . . 16
Town of Stedman Hosts 12th Annual
Farmers Appreciation Day. . . . . . . 17
CFFC Sponsors SEE’s 3rd Annual
Genetic Improvement Cattle Sale. . 18
Association News
Welcoming New Employees . . . . . . . 19
15
17
Tidbits
On September 28, 2008,
Environmental Credit Corp.,
EPA and AgSTAR hosted
a free workshop entitled,
"Environmental and Economic
Benefits of Capturing Swine
Manure Methane," at the
Sampson County Agri-Exposition
Center in Clinton, N.C.
On September 20, 2008,
the town of Stedman
hosted its 12th annual
Farmers Appreciation Day
at the Stedman Parks and
Recreation Facility.
Baby Announcements. . . . . . . . . . . . . 20
Marriage News . . . . . . . . . . . . . . . . . . 20
Newsworthy Members
and Employees . . . . . . . . . . . . . . . . 21
RECIPES
Quick and Easy Holiday
Leftover Recipes . . . . . . . . . . . . . . . 22
Financial Report
Third Quarter 2008 . . . . . . . . . . . . . . 24
3
Fr
From
om t he President
Pr esident
Farm Credit is Unique as a GSE
Richard A. Eason
T
he current banking and financial crises has caused many of you
commercial banks, Farm Credit does not accept deposits. Farm Credit
to inquire about Cape Fear Farm Credit’s financial strength
Associations across the country cooperatively issue debt on Wall Street
and our ability to make loans. Many of these questions were
to fund loans. Over the past weeks, we have seen the cost of raising
raised as a result of recent press about the failure of some Government
funds with maturities beyond twelve months rise as capital markets
Sponsored Enterprises (GSEs).
worldwide have dried up. On the bright side, Farm Credit debt instru-
Farm Credit is one of six GSEs that include Fannie Mae and
ments carry AAA ratings, continue to be viewed by investors as a stable
Freddie Mac. GSEs were created by the government but privately capi-
and safe institution; and throughout this crisis, we have not experi-
talized (owned by individuals rather than the government) to meet a
enced material difficulty in raising funds.
very specific need in the financial marketplace. In the case of Fannie &
Cape Fear Farm Credit has experienced great success over the
Freddie, that mission was to provide financing for moderately priced
past several years. Our growth rates and profits continue to reach all
homes. In the case of Farm Credit, our mission is to provide loans
time highs. You, our member borrowers, have shared in our success by
to farmers, farm-related businesses and Rural America. GSEs were
receiving record amounts of patronage dividends thereby dramatically
formed by the government to insure a stable supply of credit in their
reducing your effective interest rates. With this letter, I want to assure
respective mission areas of home loans, farm loans and student loans,
each of you that we remain a strong and stable institution dedicated to
even in periods of market volatility.
serving our member borrowers and the agricultural and rural commu-
Farm Credit is a unique GSE in that we are a cooperative. In other
nities of Southeastern NC.
words, we are owned by the people who use our services and buy stock
On pages 24 and 25, you'll find a summary of our financial state-
in order to borrow from Farm Credit. Because of our cooperative model
ments through the third quarter of 2008. As you can see, our financial
and because our owners and users are the same, our focus has always
condition and recurring earnings are strong. Our permanent capital
been on providing a competitive and reliable source of loans to our
level is 75% higher than required by our regulator and several times
members in both good and bad economic and financial times.
higher than those institutions which have failed over the past few
Freddie, Fannie and most other GSEs are owned by outside
weeks. While we continue to face stress in the general economy and
investors and their stock is publicly traded on the NYSE. Unfortu-
we still have a ways to go to complete this farming year, we feel that
nately, this business model has focused on profit for its investors and
we have been prudent stewards of your association assets and are posi-
in the case of Fannie and Freddie, it has likely caused them to lose
tioned to weather any storm we may face.
focus on their primary mission to provide sound financing for housing.
We look forward to serving you just as we have for over 90 years.
Fortunately, Cape Fear remains a very stable source of credit for our
Our success is solely because of your loyalty. We want to thank you for
members in Southeastern NC. We never made “sub-prime” type loans
your continued use of Cape Fear Farm Credit as your lender of choice
and never invested in the sub-prime mortgage backed securities that
for all your credit needs. If you have any questions or concerns and
seem to be the root cause of the banking crisis today.
wish to discuss them with me personally, feel free to give me a call. I
Unfortunately, this crisis has left worldwide financial markets
can be reached at 1-800-368-5819 ext 3234.
in such turmoil that our costs of raising long-term funds to make
long-term loans to our members has increased significantly. Unlike
Cape Fear Farm Credit
4
Feat ur e
H
ow often are you in the meat
ties like Wells Pork and Beef, Inc. in Pender
everything from hogs to cows to goats, sheep
section at a local grocery store
County, that provide a service within the
and deer. In addition to the custom slaughter
chain and hear the people next to
meat industry that isn’t like a grocery chain.
service they provide, Wells Pork and Beef,
you complaining about the freshness of the
Wells Pork and Beef, Inc. is actually a custom
Inc. also functions as a retailer of their own
selection of meats? Or, how many times
meat market, meaning they’ll take an animal
pork products such as liver pudding, c-loaf,
do you go to that grocery store looking for
from a customer and go through the entire
souse, country cured, smoked and air dried
a specific cut of meat only to get there and
progression in-house from cooling to process-
bacon, sausages and hams, as well as pork
realize they only carry a few basic cuts of beef
ing and finally providing that customer with
and pork, for instance? Well, those are just
their choice of custom cut of meat. With their
a couple of the aggravations you definitely
own slaughter house on-site, they slaughter
would not experience at a custom meat
an average of 400-500 of their own hogs per
market. It's places in our rural communi-
week. For customers, they custom slaughter
Cape
Cape Fear
Fear Country
Country Autumn
Winter 2008
2008
55
Continued on next page
Above: (From the left) Robin Albertson, John
Rose and Gerald Wilson holding some Hog Heaven
barbeque sauce made at Wells Pork and Beef, Inc.
Feat ur e
Continued from page 5
chops, roasts, pork barbeque and chittlings,
just to name a few pork products. They
also sell various poultry products, seasonal
fruits and vegetables from local growers and
"I like being able to listen to what people like
when selecting their meat and then providing
products to appeal to those preferences.”
delicacies such as frog legs. While the most
popular and sought-after product in their
store is their fresh country sausage, they
make sure to use every single part of a hog
to create products to sell, even the pig ears
for dog treats! Wells Pork and Beef, Inc.
also make their own barbeque sauce in two
varieties: a vinegar based east Carolina style
sauce called Hog Heaven and a tomato based
Rib & Chicken sauce. They also cater a full
service breakfast, lunch and dinner menu of
over 30 entrees and sides to areas all across
eastern North Carolina, providing a delicious
feast for business functions and parties of all
types for groups up to 5,000 people. And you
know what the best part about Wells Pork and
Beef, Inc. is? Their products are guaranteed
fresh and are so reasonably priced that they
serve folks from as far north as New York
and New Jersey! Part-owner of Wells Pork
and Beef, Inc., John Rose, says people travel
to purchase their meat at his store because,
“You just can’t get meat like we have in our
Above: (From the left) Robin Albertson, John Rose, and Gerlad Wilson
How about the great outdoors for your next out-of-the-box event?
Try something new
and exciting as part
of your next business
gathering with your
employees or clients.
UQuail Hunts
U Duck Hunts
U Clay Target Shooting
U Pheasant Hunting
U Dove Hunting
U Deer Hunting
U Tower Hunts
U Bed and Breakfast
A B H P U B, N.C. (    I-)
.. U ..
6
store up north and in other places. People like
it that you can come in and have so much to
choose from. We even try to cater to ethnic
preferences of certain meat cuts as well as
traditional selections.”
Wells Pork and Beef, Inc. is co-owned
by three partners, all of whom are Cape Fear
Farm Credit members of the Kenansville
branch: John Rose, Vic Swinson and Doug
Jernigan. John Rose is the newest CFFC
member, taking out a joint loan with Vic and
Doug in April 2008, to acquire the Wells Pork
and Beef business. In addition to his responsibility with Wells Pork and Beef, Inc., longtime
CFFC member Vic Swinson is part-owner of
Four County Peanuts with CFFC director Jart
Hudson and he is also a full-time farmer of
Above: Fresh smoked sausage being made right in the store
corn, tobacco, peanuts and cotton. Doug
Below: (From the left) CFFC Kenansville branch manager Robin Albertson and loan officer Gerald Wilson
watch some meat being custom cut for customers
Jernigan is a full-time row crop farmer and
is involved in the swine industry as well. John
Rose was previously the owner of Rainman
Irrigation and now spends his time as the
main supervisor of Wells Pork and Beef, Inc.
As you can tell from the agricultural background of the owners of Wells Pork and Beef,
Inc., these partners had extensive knowledge
of what it would take to provide a service as
an agribusiness to the rural communities
surrounding the facility.
John Rose says about the everyday
business at Wells Pork and Beef, Inc., “I
enjoy meeting people from all different
backgrounds and nationalities. We have
several regular customers but then we also
get a few more first-time customers every
day and it seems like every person is looking
for something different. I like being able to
has over other meat markets stating, “A big
Wells Pork and Beef, Inc. is open
listen to what people like when selecting their
advantage for Wells Pork and Beef is that
Tuesday–Friday from 7:30am–5:30pm and
meat and then providing products to appeal
there is no middle man or broker between
6:30am–4pm on Saturdays, with extended
to those preferences.” Thomas Roberts,
the grower and retailer so the meat selection
days and hours during the holidays. For more
Marketing Manager for Wells Pork and Beef
is truly as fresh as it can be and the products
information, visit their Web site at www.
for the past 16 years and owner of Advertising
are very competitively priced as well. You
wellspork.com.
Management out of Wilmington, comments
just can’t beat that combination of quality,
about the competitive edge this agribusiness
freshness and price.”
7
YBS S POTL I GHT
Earl and Genevieve Wilson
W & W Growout Farms
—the only turkey farm in Columbus County
M
ost of you reading this are
already familiar with Cape Fear
Farm Credit’s referral program.
In a nutshell, the program is designed to
reward current CFFC members for participating in what has proven to be our most
effective marketing tool—word of mouth.
We take pride in the success of our referral
program since it serves as a good indicator
of the level of customer service we provide
to our members who are so willing to send
others our way. In this particular article, we
would like to thank Whiteville member Cecil
Barnhill of Columbus County for sharing his
CFFC experience with Earl and Genevieve
Wilson, beginning farmers and new members
of the Whiteville branch.
Earl and Genevieve Wilson became
members of Cape Fear’s Whiteville branch just
over a year ago when they started their farming
operation, formally called W&W Growout
Farms. At the time they inquired about Cape
Fear’s services, the Wilsons were looking to
become the only turkey farmers in Columbus
Above: (From the left) CFFC Whiteville loan officer Becky Thompson and loan assistant Candy Ward,
Shannon and Genevieve Wilson, CFFC Whiteville loan assistant Judy Prince, Earl Wilson, CFFC Marketing
Manager Skipper Jones and Whiteville branch manager Glenn Waters
County. Earl had been retired from his 27-year
career with DuPont for about five years and
the couple was enjoying spending a great deal
of their time with their sons, Shannon and
Michael & wife, Sabrina, and their grandchildren, Meghan (age 10), Kaleb (age eight) and
Jacob (age two). They did have a few cattle
on their land and enjoyed raising horses, but
that was the extent of their farming involvement up to that point. The new turkey farm
they had in mind would be a way to increase
cash flow and also allow their sons to become
involved in what they planned to make a
8
family operation. Their oldest son, Michael,
much a family affair,
and his wife, Sabrina, own their own electric
Michael and Sabrina
company, MW Electric, so their time on the
were dedicated to
turkey farm would start off as a part-time job.
helping oversee the
After meeting with CFFC’s Whiteville branch
construction process
manager, Glenn Waters, Earl and Genevieve
through to completion
worked quickly through the loan process and
while Earl still worked
before they knew it, their four Prestage turkey
his public job. The
houses were under construction.
Wilsons are now on
Being that the Wilson’s turkey farm
their third turn with all
would be the first of its kind in Columbus
four houses averaging
County, there were several obstacles to
8,200 birds.
overcome in order to see the project through
The work load on W&W Growout Farms
duties required of a turkey operation. Even
to completion and get their first turn of
is pretty evenly split among the Wilson family
the grandchildren come out and walk through
birds. With the help of Prestage Farms and
members. At this point, Earl and Genevieve
the houses to help (which they love to do),
local community leaders, Earl and Genevieve
have the schedule almost down to a science
especially when the birds are young and very
were able to finish construction of their four
where family members spend a couple of hours
small. Although the Wilsons had never had
growout houses and begin their journey as
each morning and afternoon on assigned days
a turkey operation before this past year, it
new turkey farmers. Since the farm is very
working on the farm to complete the various
seems they have adjusted well to the demands
of the farm and are having fun with this family
affair as well.
So, why did Earl and Genevieve choose to
come to Cape Fear Farm Credit as beginning
farmers? Well, the referral from family friend
Cecil Barnhill was certainly enough to spark
their interest, but the Wilsons also comment
on the differences they observed between
commercial banks and Cape Fear Farm
Credit. As Earl puts it, “Of course we wanted
things to work out for us with this turkey farm
and Farm Credit just made it happen for us.
Everything was great and the loan process was
really quick. I have no complaints.” Genevieve
comments further, “The biggest difference I
noticed was how nice people at Cape Fear
were. Earl and I couldn’t have asked for any
better of an experience. I can really tell they
Above: Michael and Sabrina Wilson with their children: (From the left) Kaleb, Jacob and Meghan
care about relationships.”
So there you have it! Between a successful referral program, the loyalty of current
"Earl and I couldn’t have asked for any
better of an experience. I can really tell
they care about relationships.”
members like Cecil Barnhill and excellent
customer service at the branch, the Wilsons
serve as an example of what Cape Fear Farm
Credit represents at its core…a lending cooperative dedicated to true relationship lending.
9
F F A st udent perspect ive
FFA Student Perspective
What has FFA taught you about leadership and work ethic?
M
y very first class within the walls
of Western Harnett, well actually
in one of the huts outside, was
Horticulture I with Mr. Craig Senter. As a
meek and timid ninth grader I had no idea why
I had chosen to take an agriculture class, let
alone what FFA was. Within a week Mr. Senter
had introduced me to what would become my
life and passion, FFA! Fifteen years old and
looking for somewhere I belonged, FFA served
Name of student: Daniel Ray Stanley
as a safe-haven in which I could express myself
profoundly and in the process develop into the
Inevitably FFA
has changed and
become my life as
I am “learning to
do, doing to learn,
earning to live, and
living to serve!”
High School and grade: Western Harnett High
School, Senior
leader I am today.
FFA advisor’s name(s): Craig Senter
potential in me for public speaking and as a
officer judges, and presented myself as a
result I became my chapter’s creed speaker.
well-rounded FFA member full of potential
My initial thought was, “Great, now I have
and impending success. Never in a million
to learn five paragraphs some old guy wrote
years did I expect to actually receive an officer
and recite them in front of God knows how
position as a freshman, let alone over upper-
many people!” It is only now when I look
classman! After receiving my first regional
back that I realize the impact those five para-
officer position I subsequently received two
graphs written by E.M. Tiffany in develop-
more in the following years until I now serve
ing and shaping my ability to speak in front
as the South Central region vice president. It
of people and build my confidence into the
is with great honor and pride I hold my office,
strong, secure senior I am today. From my
and on the way learned the true meaning of
experiences as the creed speaker I learned
hard work.
FFA involvement: FFA member for four years;
Career Development Participation: Creed Speaking
(one year/9th Grade), Parliamentary Procedure
(four years/9th-12th Grade), Floriculture (one
year/10th Grade); Western Harnett chapter
President 2008-2009; South Central Region Vice
President 2008-2009; FFA State Degree Recipient;
Star Greenhand recipient; Star Chapter recipient
Other extra-curricular activities and academic/
athletic/community achievements: Western
Harnett Beat Club President 2008-2009/ National
Scholar recipient; Astronomy Club member; Quiz
Bowl member; National Society of High School
Scholars member; Student Government 12th Grade
representative; Student Advisory Board member
(9th Grade); Soccer (9th-12th Grade); Basketball
(9th-12th Grade); Tennis (10th-12th Grade);
Baseball (9th Grade); MVP Tennis 2007-2008
My parents are Ray and Lyndell Stanley. I have
three sisters: Jamie Mehall, Emily Owen and Roni
Shoemaker. I am a member of Antioch Baptist
Church where I am the youth group vice president
and church choir member.
From the very beginning my advisor saw
the value of a single word and the impor-
Balancing all of my activities with my
tance of knowing where your values reside,
FFA leadership duties and responsibilities I
as I uncovered the true values and principles
must say is a difficult challenge, but is one
FFA stood for in five simple paragraphs.
aspect of my life I wouldn’t dare change. FFA
Creed speaking begat parliamentary
has made such a positive difference in my life
procedure, “parly pro” as the members of my
and has instilled me with the principles of
team affectionately call it and anyone else who
pristine judgment, leadership qualities, and
gets tired of saying parliamentary procedure
a confidence in who I am as an individual
a hundred times, and “parly pro” begat an
nothing else could have inspired. Inevitably
interview for a regional office position. With
FFA has changed and become my life as I am
my head held high I entered the interview
“learning to do, doing to learn, earning to
room and approached the panel of regional
live, and living to serve!”
10
What is your opinion of the importance of young people continuing to
get into the farming industry?
Name of student: John Canuette
High School and grade: North Duplin High
School, Senior
FFA advisor’s name(s): Annette McCullough
FFA involvement: I’ve been involved in my
school’s FFA since I was in the ninth grade. In the
four years that I have spent with the FFA, I have
participated in many different contests and leadership activities. I currently serve as our Federation
Sentinel and Chapter Vice-President. The main contests I have been a part of in the past four years
are Hunter Safety and Land Judging. From the
time I became a member of our FFA, I have tried to
take part in every leadership activity that I could.
This included several state conferences, becoming
an officer in our schools FFA whether it was our
school’s sentinel or our vice president, and taking
part in several camps. Our school’s FFA has really
helped me reach my leadership potential in ways
that no other extra-curricular activities could.
Other extra-curricular activities and academic/
athletic/community achievements: Outside of
the FFA, I take part in several different extra-curricular activities. For example, I am an active Boy
Scout currently working on my eagle project so
that I can become an Eagle Scout. In scouts, I am
a junior scout master and a member of the Order of
the Arrow. In sports, I run track and cross country
to stay in shape and keep myself active. These
sports have proven to be a great way outside of
the FFA to meet and make new friends.
believe it is extremely important that
I
Above all, we need young farmers
young people get into farming. It seems
to begin farming to bolster the dwindling
more and more that the farming genera-
number of farmers in the country. Young
tion is beginning to fade and we need more
farmers will need to take the place of the
people who are willing to farm and do the
previous generation of farmers who are up
jobs that many people deem unimportant. As
in age and unable to maintain their land.
the years go on and farming becomes more
In the near future, young farmers will be a
technical, we need young, technically adept
necessary support for our unstable economy
farmers to take up the jobs that are changing
arguably becoming the foundation for our
so rapidly. As tractors become more versatile
country. Someone will have to provide the
they also become more and more complex
country with a source of food and goods,
from the operation to the mechanics. The
much of which are currently being brought
world is changing and we need people who
in from foreign countries when we could
are willing to change with it to take over.
easily produce all we need here with the help
Also, it seems that the way of life that
of a new generation of farmers. Recently,
farming provides is beginning to disappear.
many of our imports have been found to be
Manners and good southern hospitality are
tainted by various impurities which have
fading ideals that should be preserved for
been dangerous for the people of our country.
future generations to learn from, much in the
Often the public does not find out about these
same way I learned them from my grandpar-
issues until after we have been using the
ents. As a child, I spent as much of my free
products for several months.
time with my grandparents on their farm as
The point is, however, that if we could
I could and even today I spend my weekends
increase the interest in farming to draw in
helping them—not just because they are
new farmers there is so much good that could
family but because of the warm sense of home
be done to help the country and the people
and hospitality. My grandparents taught me
who live here. Whether people realize it or
many things about life while I stayed with
not, farmers are quickly disappearing in
them over the summers and weekends of my
modern life for pursuits that require less
childhood. They taught me to treat others
manual labor. If something isn’t done about
with respect and courtesy no matter who they
it, then the very way of life for the American
were. They showed me that God made us all
farmer will be lost to this technical age.
equal, and that I should always try to be a
friend to everyone.
…if we could increase the interest in farming
to draw in new farmers there is so much
good that could be done to help the country
and the people who live here.
11
C ommunit y News & E vent s
Elizabethtown Sponsors
3rd Annual Ag ‘Em Up Day
in Bladen County
T
he Elizabethtown branch of Cape Fear
‘Em Up Day the students are given a pre-test
Farm Credit helped sponsor the 3rd
to test their agriculture knowledge. Once
annual Ag ‘Em Up Day on October
the students complete the field trip, they are
1-2 at the Bladen County Park. This event is
given a post-test to ensure their agriculture
organized by the Bladen County Extension
knowledge increases. Brandon Strickland,
Service and partners to give Bladen County
Brook Hall, Linda Wilson, Jane Love, Jeanne
third grade students a chance to learn about
Fields and Matt Edwards of Cape Fear Farm
the importance of agriculture.
Credit helped at the event. The 3rd Annual Ag
The third graders had a chance to
‘Em Up Day was a success!
Above: Brook Hall with member Albert Beatty
Below: Group of FFA Students at the pork station
explore eight stations that focused on agriculture related displays and hands-on activities. The stations included field crops, horticulture, human nutrition, soil and water,
poultry, beef and pork. Beekeeping was a
new station this year; students observed bee
behavior and a pollination display. Future
Farmers of America (FFA) students from
both West and East Bladen high schools
helped teach the students and assisted with
the hands-on displays. Prior to attending Ag
C & D INSURANCE SERVICE, INC.
Serving the CFFC area since 1957
Jim Burgin, President
Clint Knox, Agent
Visit our new offices at 53 S. Broad Street, Angier NC 27501
919-639-2990 or 877-306-2990
We Can Meet All Your Farming Insurance Needs.
12
Above: Brook Hall, Linda Wilson, CFFC member
Brenda Brisson, Bladen County Field Crop Extension Agent and CFFC member Ryan Harrelson
and group of 3rd graders observe a horticulture
demonstration.
Left: CFFC Elizabethtown loan officer Brook Hall
with West Bladen High School FFA Advisor and
CFFC member Dana Mills and a view of the poultry
station
Below: Brook Hall (left) and CFFC Elizabethtown
loan assistant Linda Wilson
Cape
Cape Fear
Fear Country
Country Autumn
Winter 2008
2008
13
13
C ommunit y News & E vent s
Helps East Wake Academy Expand Their Facility
C
ape Fear Farm Credit sees the
support of congressional members such as
importance of economic growth
Senator Burr.”
Rural America Bonds offer adequate
and flexible funding that is needed by rural
and development in our rural areas.
Cape Fear Farm Credit was able to
communities to support rural infrastructures,
Cape Fear Farm Credit recently invested in
make East Wake Academy’s senior academy
essential community facilities, agriculture
a Rural America Bond for the erection of a
a reality by providing a $7.5 million loan
and rural economic development and revital-
new facility at East Wake Academy, a charter
for the construction of the 25,000 square-
ization. This program gives rural communi-
school in Zebulon, NC. East Wake Academy
foot building. U.S.D.A. Rural Development
ties, agriculture and agribusiness the oppor-
continues to grow with the need to add a
provided a $6.5 million bond guarantee to
tunity to meet their ongoing debt and equity
senior academy that will house classrooms,
Cape Fear Farm Credit as well as a $1 million
financing needs that are not often met by
a media center and a library.
low interest loan for the construction of the
conventional investment sources.
Richard Eason, Chief Executive Officer
new facility.
for Cape Fear Farm Credit says, “The success
(From the left) CFFC
Chief Lending Officer
Michael Jackson, CEO
Richard Eason, Senator
Burr, CFFC capital
markets relationship
managers Joel Britt and
Randy Pope
of farm families and American agriculture
depends to a large extent on having strong,
supportive rural communities. The cooperation between Cape Fear Farm Credit and
NC Rural Development, who provided the
U.S.D.A. guarantees for the bond, is imperative for such opportunities as the East Wake
Academy addition to take place. Furthermore, the support from U.S.D.A. would
not be possible if it were not for the strong
14
Workshop “Environmental and Economic Benefits
of Capturing Swine Manure Methane” is Held at the
Sampson County Agri-Exposition Center
O
(From the left) ECC
Representative Scott
Tudman and Brandi
Robinson, CFFC Director
Tom Butler, ECC
Representative Scott
Subler, CFFC Member
Robert Butler
n September 18, 2008, Environmental Credit Corp., EPA and
AgSTAR hosted a free workshop
entitled, “Environmental and Economic
Benefits of Capturing Swine Manure
Methane,” at the Sampson County AgriExposition Center in Clinton, N.C. This
workshop provided an overview of anaerobic
digestion of swine manure and other related
issues to approximately 210 attendees.
Representatives from North Carolina State
University, EPA, North Carolina Department
of Environmental and Natural Resources and
The educational workshop concluded
the U.S. Department of Agriculture Natural
experts in anaerobic digester technologies
with a field trip to Cape Fear Farm Credit
Resource Conservation Service Conservation
and financial incentives spoke to the group
Director Tom Butler and member Robert
Innovation Grant. Attendees also had the
about mitigation techniques that address
Butler’s farm in Lillington, N.C., to view their
opportunity to tour the Butler Farms swine
concerns surrounding manure management
covered lagoon and biogas recovery system.
mortality composting facility.
as well as revenue opportunities from carbon
Environmental Credit Corp. financed the
credits and energy generation.
Butler Farms project with contributions from
B U I L T
W I T H
P R I D E
&
B U I L T
T O
L A S T
DONNIE ROSSER CONSTRUCTION, LLC
DRC Post Frame Buildings
VV>ÊUÊ>ÃVÊ>`Ê
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ÀÃiÊ>ÀÃÊUÊ,`}ÊÀi>ÃÊUÊ>À>}iÃÊUÊLLÞÊ-«ÃÊ
7>ÀiÕÃiÃÊUÊ,iVÀi>ÌÊÕ`}ÃÊUÊ>ÀÊ-iÌiÀÃÊ
Donnie Rosser—Licensed General Contractor
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,ÊÃÌ>ÌiÃÊUÊÕ>À>Ìii`Ê7ÀÊUÊ*>ÃÊ*Ài«>Ài`ÊUÊ*iÀÌÃÊ*ÀVÕÀi`
W W W . D O N N I E R O S S E R C O N S T R U C T I O N . C O M
15
c o mmunit y News & E vent s
CFFC Sponsors 4th Annual
NC Muscadine Harvest Festival
C
ape Fear Farm Credit sponsored the 4th Annual NC Muscadine
Harvest Festival during the weekend of September 26-27. The
unique flavor of the Muscadine grape is sought by wine lovers
and makes some of the best jams, jellies, and grape hull pie. It has also
been recognized as the most natural healthful fruit in the world. The
festival was held at the Duplin Events Center. This festival welcomed
folks to eastern North Carolina to enjoy the Muscadine Grape heritage,
food, wine, health products and cultivation. Over 150 wines were
available to taste and purchase, there were educational seminars and
farm implement exhibits, great music was provided by The Embers
and The Drifters, and a cooking contest welcomed amateur and profes-
Cliff Kilpatrick with CFFC member Lee Graham
sional cooks. Qualifying dishes for the cooking contest had to consist
of at least one cup of muscadine grapes, juice or wine. A shag dance
contest also entertained the crowd. Our very own Debbie Bradshaw
and her partner, Stephen Knowles, won the competition. Debbie is a
loan assistant in the Burgaw branch office and Stephen is the son of
members Chuck and Delean Wooten. Congratulations to both of them!
Cliff Kilpatrick, Cape Fear Farm Credit Kenansville loan officer, and
Shannon Bell, Burgaw loan officer, were present to cheer on our shag
competition winners.
Cliff Kilpatrick with CFFC members Chris and Jamie Bowles and daughter Chloe
(From the left) CFFC Burgaw loan officer Shannon Bell with Stephen Knowles
(son of CFFC members Chuck and Delean Wooten), loan assistant Debbie
Bradsaw with son Bart Bradsaw and Bart’s girlfriend, Davis Cooper
Cliff Kilpatrick with CFFC member Seth Quinn
16
Town of Stedman Hosts 12th Annual Farmers
Appreciation Day
O
n September 20, 2008, the town of Stedman hosted its 12th
annual Farmers Appreciation Day at the Stedman Parks
and Recreation Center. The Fayetteville branch of Cape
Fear Farm Credit sponsored the BBQ lunch served at the event and
the Fayetteville branch employees set up a CFFC display booth with
give-aways in honor of the local farmers. The day was full of activities
for both adults and children including music, antique tractors, games,
contests and lots of good food. Proceeds from the event funded a scholarship for college students studying agriculture. Overall, the Stedman
Farmers Appreciation Day was a fun-filled way to say “thanks” to the
local farmers.
(From the left) CFFC Fayetteville branch loan assistants Deborah Bunce and
Cathy Keane with members Dee and Steve Bunce
Long time CFFC Fayetteville members David and Martha Graham
Emily (left) and Rebecca Mozingo
CFFC Fayetteville
member Jeff Hall pulled
kids behind his John
Deere lawnmower all day
at the event and they
loved it!
17
c o mmunit y News & E vent s
CFFC Sponsors SEE’s 3rd Annual
Genetic Improvement Cattle Sale
O
n Saturday, October 4, 2008,
Cape Fear Farm Credit co-sponsored SEE’s 3rd Annual Genetic
Improvement Cattle Sale at the Sampson
County Livestock Arena in Clinton. CFFC
members and SEE’s Performance Genetics’
co-owners Dexter Edwards, John C. Smith
and Nicholas Edwards organized the sale.
The sale offered 152 lots featuring top quality
Angus, Limousin, Lim-flex and commercial
heifers from Edwards’ Limousin Cattle and
Panther Creek Farms. The event began
with lunch and the opportunity to view the
outstanding group of cattle before the start
of the sale.
Clinton branch loan officer, Nelson
Powell, and association marketing manager,
Skipper Jones, attended the sale. Many
Sampson & Duplin County CFFC members
(From the left) CFFC Clinton loan officer Nelson Powell with SEE’s Performance Genetics’ co-owners John
Smith and Dexter Edwards
were also amongst the crowd. The sale was a
great day for fellowship and gave cattlemen
the opportunity to purchase quality cattle to
enhance their existing herds.
18
ass ociat ion news
Welcoming New Employees
Skipper Jones
Kevin Kinlaw
Skipper Jones joined Cape Fear Farm
In July, Kevin Kinlaw joined the staff
Credit as the new Marketing Manager on
of Cape Fear Farm Credit. Kevin will be
September 2, 2008. Skipper is respon-
serving as a loan officer in the Lumberton
sible for designing, implementing and
office. Prior to coming to Cape Fear
coordinating all marketing, advertis-
Farm Credit, Kevin worked with NC
ing and public relations programs. Her
Farm Bureau as a Field Representative,
responsibilities also include the coordina-
and served as their Young Farmer and
tion and promotion of all business devel-
Rancher Coordinator. He graduated
opment activities for the association.
from NC State University with a Master’s
Prior to coming to work for Cape Fear Farm Credit, Skipper worked as
degree in Agriculture Education. Kevin lives in Bladenboro with his
the Marketing Manager/Account Manager for Technology Associates,
wife, Jane, and their two boys, Bryan, 11, and Daniel, 4. He is an
Inc. Skipper grew up working on her family farm in Bunnlevel, N.C.
active member of Sandy Grove Baptist Church and also serves as a
She attended Meredith College where she graduated with a bachelor’s
Lay Minister in his community. In his free time, he enjoys working with
of science degree in Business Administration with a concentration in
Kinlaw’s Farm Fresh Produce and spending time with his family.
Marketing and a minor in Spanish. She is married to Ashley Jones,
and they currently live in Harnett County. In Skipper’s spare time, she
enjoys going to the beach, watching college basketball and spending
time with her family and friends.
Generation
to generation.
For more than 90 years, Cape Fear Farm Credit has been
helping farmers build their businesses. During that time,
generations of farmers have turned to us for superior
customer service and knowledge of the industry.
While the scenery may have changed, one thing
remains the same—Cape Fear Farm Credit’s mission to
service rural America.
Give us a call to see how we can help you.
800.368.5819
www.capefearfarmcredit.com
19
TI DB I Ts
Marriage News
Burgaw member Shaun Wells married Lori Thompson on November 8, 2008.
Lewis Grady married Ashley Price on July 12, 2008 (Couple pictured at right). Lewis is the
son of Kenansville members Bennie and Michele Grady. Ashley is the daughter of Gail Moore
and Dennis Carlton.
Baby Announcements
It’s a boy! CFFC loan assistant Jill Johnson and husband, Jay, welcomed
Laney Kathryn Barnhill, daughter of Whiteville members Brett and
their first child, Julian Johnson, on September 17, 2008. Julian
Mandy Barnhill and granddaughter of members Cecil and Pat Barnhill,
weighed 9 pounds, 11 ounces at 23 inches long. Congratulations!
was born September 12, 2008. She weighed 8 pounds, 5 ounces and
was 19 inches long.
Taylor Ryan Smith, son of CFFC Chief Relationship Manager Jay
Mason Luke Grady, son of Kenansville members Luke and Mindy
Smith and wife, Melissa, was born on September 25, 2008. Taylor was
Grady of Albertson, was born on September 23, 2008. Mason weighed
7 pounds, 1 ounce at 19 inches long.
7 pounds, 11 ounces at 21-¼ inches long.
20
Newsworthy Members and Employees
Raeford member Shaunna Dunlap of White Winds Farm has recently
been named as an “Official US Pony Club Riding Center.” To achieve
Raeford member Roy Lee Harris, Jr. went to Milwaukee, Wis.
in August to participate in the 105th Harley Davidson Anniversary. this honor, she had to pass multiple certification levels and have
The 2008 Cumberland County Youth Livestock Show was held
facility inspections. Her teaching credentials were also inspected. The
on September 24, 2008. The CFFC Fayetteville branch bid on Sidney
program is the only one in the Sandhills region and CFFC commends
Smith’s pig and got to buy it. Sidney is the daughter of CFFC director
her on her hard work and efforts to earn this impressive designation.
Arnold Smith.
Fred McPherson, member of the Whiteville branch, was
CFFC Fayetteville
branch manager
Misty HalesMcCorquodale and
Sidney Smith
recently named West Columbus High School’s 2008-2009 Teacher of
the Year. Fred is the Agriculture teacher and FFA advisor at WCHS.
Ivey Lowery, daughter of Raeford members Ricky and Loretta
Lowery, attended the Patty Iron Cloud National Native American Youth
Initiative program in Washington, D.C., this summer along with two of
her fellow Hoke High School students. The program’s aim is to expose
the students to various health professions and careers through lectures
and visits to national health organizations and academic institutions.
We Specialize in Farm Insurance!
Snipes Insurance Service, Inc.
“Nothing but Insurance since 1952.”
Poultry
Cattle
Hogs
Crops
M[YWdbem[hoekh\Whc_dikhWdY[YeijWdZfhel_Z[X[jj[hYel[hW][$
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Horse
Dairy
Produce
:kdd"D9/'&$./($('('.&&$.*/$.&)(
John Snipes | [email protected]:WbId_f[[email protected]
21
r ecipes
Quick and Easy Holiday
Leftover Recipes
W
ondering what to do with some of that leftover turkey from your holiday feast? Not
sure what to do with that ham in the fridge before it has to be thrown away? Well,
we all hate to waste good food but most everyone has plenty of leftovers from the
holidays to eat on for days. Here are a couple of quick and easy recipes to turn some of those
leftovers into brand new meals.
Barbeque Turkey Bake
Ingredients:
Croissant and Ham Breakfast
Casserole
1-1/2 cups cut-up cooked turkey
Ingredients:
1/3 cup chili sauce
6-8 plain croissants, depending on size;
2 tablespoons honey
day old is fine
1 teaspoon soy sauce
8 ounces of your favorite cheese, grated
1/4 teaspoon red pepper sauce
4 ounces cooked ham, chopped
1 small onion, sliced and separated
2 tablespoons fresh chives or green onions,
into rings
chopped
1-1/2 cups Original Bisquick®
12 large eggs
1/3 cup cold water
3 cups milk
1 cup shredded mozzarella cheese
¼ teaspoon nutmeg
(4 ounces)
Directions:
¼ teaspoon salt
¼ teaspoon pepper
Heat oven to 375°. Stir together turkey,
Directions:
chili sauce, honey, soy sauce, pepper sauce
Butter a 9x13 inch dish and set aside. Slice
and onion; set aside. Stir Bisquick and cold
croissants in half (as if you were making a
water until dough forms; beat 20 strokes.
sandwich) and reserve the top halves. Cube
Pat dough into rectangle, 12x6 inches, on
the bottom halves and place in a very large
ungreased cookie sheet with hands dusted
mixing bowl. Mix the cheese, ham and
with Bisquick; pinch edge, forming 1/2-inch
chives; set aside. Mix eggs, milk and season-
rim. Spoon turkey mixture onto dough. Bake
ings in a separate bowl; add to the croissant
25 to 30 minutes or until edge of crust is light
mixture and combine well. Spoon into the
brown. Immediately sprinkle with cheese.
prepared baking dish. Arrange the reserved
croissant halves on top of the casserole.
Gently press into the egg mixture to ensure
that they get moistened. Bake in a preheated
350 oven for 50-60 minutes or until puffed
up and golden brown.
22
N.C. Agricultural Development and Farmland
Preservation Trust Fund Workshops
Landowners, county governments and nonprofit groups pursuing farmland preservation projects can apply for funding
assistance from the N.C. Agricultural Development and Farmland Preservation Trust Fund beginning October 13.
Two free informational workshops for folks interested in applying for the grants are being held in our area:
November 12, 1-4 p.m. Cumberland County Ag Center
November 13, 8-11 a.m. James Sprunt Community College
301 E. Mountain Drive, Fayetteville
133 James Sprunt Drive, Kenansville
To RSVP, contact Leslie Pekrul at (919) 715-1206, ext. 12, or [email protected] at least four days before the workshop.
Specializing in flight conditioned birds
that are ready for release.
Volume discounts are offered
and delivery is available.
CAROLINA QUAIL
214 Byrd Road, Bunnlevel, NC 28323
Office 910.893.9669
Billy Spruill 919.455.4295 Ashley Jones 919.427.3076
www.carolinaquail.com
23
Financial repor t
Consolidated Balance Sheets
Cape Fear Farm Credit, ACA
Consolidated Balance Sheets
(dollars in thousands)
Assets
Cash
September 30,
2008
December 31,
2007
(unaudited)
(audited)
$
Loans
Less: allowance for loan losses
Net loans
Other investments
Accrued interest receivable
Investment in other Farm Credit institutions
Premises and equipment, net
Other property owned
Due from AgFirst Farm Credit Bank
Other assets
Total assets
Liabilities
Notes payable to AgFirst Farm Credit Bank
Accrued interest payable
Patronage refund payable
Other liabilities
2,582
$
2,102
772,164
4,584
703,680
3,993
767,580
699,687
28,173
11,969
10,259
3,557
182
4,842
5,027
29,430
12,057
10,259
3,490
95
6,799
5,308
$
834,171
$
769,227
$
708,467
2,683
103
9,313
$
641,059
3,084
11,579
11,003
Total liabilities
720,566
666,725
81
2,643
124
2,542
11,367
99,840
(326)
16,631
83,542
(337)
Commitments and contingencies
Members' Equity
Protected borrower equity
Capital stock and participation certificates
Retained earnings
Allocated
Unallocated
Accumulated other comprehensive income (loss)
Total members' equity
113,605
Total liabilities and members' equity
$
24
834,171
102,502
$
769,227
Consolidated
Statements
of Income
Cape Fear
Farm Credit, ACA
(unaudited)
Consolidated Statements of Income
(unaudited)
For the three months
ended September 30,
2008
2007
(dollars in thousands)
Interest Income
Loans
Other
$
For the nine months
ended September 30,
2008
2007
14,039
409
$ 14,982
418
14,448
15,400
42,797
43,462
Interest Expense
Notes payable to AgFirst Farm Credit Bank
8,247
9,643
24,703
26,868
Net interest income
Provision for (reversal of allowance for) loan losses
6,201
230
5,757
285
18,094
615
16,594
537
Net interest income after provision for
(reversal of allowance for) loan losses
5,971
5,472
17,479
16,057
Noninterest Income
Loan fees
Fees for financially related services
Equity in earnings of other Farm Credit institutions
Gains (losses) on other property owned, net
Other noninterest income
558
60
1,634
(10)
(12)
638
53
1,449
1
5
2,638
159
4,855
(11)
55
2,217
148
4,228
4
105
Total noninterest income
2,230
2,146
7,696
6,702
Noninterest Expense
Salaries and employee benefits
Occupancy and equipment
Insurance Fund premium
Other operating expenses
1,642
270
248
543
1,794
247
256
480
5,302
662
779
1,758
5,469
603
726
1,506
2,703
2,777
8,501
8,304
5,498
39
4,841
—
16,674
39
14,455
—
Total interest income
Total noninterest expense
Income before income taxes
Provision (benefit) for income taxes
Net income
$
5,459
$
4,841
$
$
41,576
1,221
16,635
$
$
42,255
1,207
14,455
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.
25
SOUTHEAST
FARM EQUIPMENT COMPANY
COMMITMENT
Southeast Farm Equipment
Company has:
• $2.7 million in parts
inventory,
• more than $1 million in
service and sales vehicles,
• over $400 thousand in
special service tools
and equipment.
This, along with real
estate and investment
in employee training,
is a huge investment.
We do this so we can
serve you better.
WE’RE “COMMITTED TO YOUR SUCCESS.”
Lumberton - 910-739-6012
Whiteville - 910-642-8181
Loris - 843-756-6021
Laurinburg - 910-276-8396
Clio - 843-586-2262
Remember: “Nothing Runs Like A Deere”
26
Potential customers could be reading
this ad just as you are now.
Cape Fear Country is now offering advertising space within our publication. Contact Skipper Jones, VP/Marketing
Manager, for more information. 910.323.9188 • [email protected]
Global Technology
Down on the Farm
Smart soil sampling can make a world of difference for any farm operation. That’s why
FCI puts the latest technology to work for you. With our VRT (Variable Rate Technology) system, we use GPS
to “map” your fields. We then test soil samples from various grid sectors and computer program the results
– along with crop specific information – to generate an “Application Map.” This enables us to apply the precise
amount of soil nutrients (lime or fertilizers) needed in each sector. And you reap the benefits of VRT soil
treatment, which include:
• Optimizes nutrient management for maximum field fertility • “Only-what-you-need” application cuts
costs and is more environmentally friendly • Tailoring soil nutrients is ideal when alternating crops in
different sectors • Provides valuable information for future crop planning
For the high tech soil sampling that can deliver higher yields and lower costs down on
your farm, contact FCI today.
2274 St. Pauls Hwy • Raeford • 910-875-4277 • www.fciag.com
27
JOHNSON PROPERTIES
REALTORS & AUCTIONEERS, INC.
50 EAST DEPOT STREET • P. O. BOX 310 • ANGIER, NORTH CAROLINA 27501
We specialize in marketing all kinds of real estate, using both
the conventional and auction methods of marketing.
Broker/Owner • James W. (Jim) Johnson III, GRI, CAI, AARE, CES
NCAL #2522, 7340
919.639.2231 • 800.865.5896 • johnsonproperties.com • [email protected]
NCRBL #8835
P.O. Box 2405
Fayetteville, NC 28302
PRSRT STD
U.S. POSTAGE
PAID
COLUMBIA SC
PERMIT 1160

Wells Pork and Beef, Inc.

Transcription

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