Spring - AgCarolina

Transcription

Spring - AgCarolina

Leader
An AgCarolina Financial Member Publication—June 2008
Roanoke Nursery
A Garden & Supply Center
Meet Your New Directors
Charlotte and Dwayne Ferrell
National Outstanding Young Farmers of the Year
There Are LOTS
of Reasons Why
We Borrow From
AgCarolina Financial
“When it came to getting an operating loan for my
500-acre farm, my previous experiences with a
commercial bank often found me teaching my loan officer
about agriculture and I didn’t get anything but a loan
in return. With AgCarolina Financial, they know what
they’re donig when it comes to financing farming and
agribusiness operations.”
Jerry Tyndall
Lenoir County
500-acre Diversified Farmer
800-951-3276
www.agcarolina.com
June 2008
Contents
2008 Ag Outlook is Favorable. . . . . . 4
It’s All About the Family! . . . . . . . . . 5
Roanoke Nursery. . . . . . . . . . . . . . . . 6
Meet Your New Directors. . . . . . . . . . 9
Young Farmers of the Year. . . . . . . . 10
Where I’m From. . . . . . . . . . . . . . . 12
When Do I Need an Appraisal? . . . . 13
Financial Planning Ideas. . . . . . . . . 14
TGANC’s 2008 “Tobacco . . . . . . . . 15
Farm Family of the Year”
Mission Statement
To improve the quality of life
on farms and in rural areas of
eastern North Carolina through
a financially strong cooperative
structure and a commitment to
provide competitive lending and
financial services, ensuring a feeling
of partnership with our customers.
Vision Statement
We will strive to be the customer’s
first choice for service and
reliability; providing sound,
constructive credit and financial
services with emphasis on
customer service and
increasing customer wealth.
Holiday Schedule
The offices of AgCarolina Financial will be closed in observance of the following holiday:
July 4 Independence Day
Sept. 1 Labor Day
Jones Co. Producers . . . . . . . . . . . . 16
Mike & Timmy Haddock Win Award
Cooperative Leadership Conference . 17
New Employees. . . . . . . . . . . . . . . . 18
Employee Retirements. . . . . . . . . . . 19
Employees Recognized. . . . . . . . . . . 20
STAR Program Donates to . . . . . . . 22
Duke Cancer Patient Support Program
Ag Leadership Institute. . . . . . . . . . 23
Our Commitment to Data Security. . 24
Slow Cooker Saves Time. . . . . . . . . 25
A Berry Sweet Ending. . . . . . . . . . . 26
An AgCarolina Financial Member Publication
is published quarterly for stockholders, friends,
and business associates of AgCarolina Financial.
If you have any questions or ideas for the editorial staff of the
Leader, contact Linda Strickland at 800-951-3276, e-mail her at
[email protected] or write her at AgCarolina Financial,
4000 Poole Road, Raleigh, NC 27610. This publication is for
you, our reader. We’d love to hear from you!
EDITOR & MARKETING MANAGER
Linda Strickland
President
Eugene Charville
PUblisher
AgFirst Farm Credit Bank
BOARD OF DIRECTORS
Dick Tunnell, Chairman
Eldridge T. Westbrook,
Vice Chairman
Edward Bissette
Lynn Daly
Paul Drake
Ralph Ellington
Jack Finley
Publishing Director
Donna Camacho
designers
Athina Eargle, Darren Hill,
Amanda Simpson, Travis Taylor
PRINTER
Spectra True Colour
Circulation
Kathi DeFlorio
Stephen I. Harris
Cliff Keel
Audie Murphy
Stuart Pierce
Stanley Roberson, Jr.
Thomas Snider
Ellis W. Taylor
Message from the president
2008 Ag Outlook is Favorable…
But Loaded with Uncertainty
Eugene Charville
As crop and livestock
producers in our 34 eastern
North Carolina counties
head into the heart of the
2008 season, most are
excited that ag economists
tell us that the outlook for
agriculture has rarely, if
ever, been more favorable.
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AgCarolina Financial • June 2008
Yes, recent USDA economic reports indicate
that futures market prices for grain and oil seed
commodities will remain high over the next few
years. The rapid expansion in the production
of biofuels, high input costs, and strong foreign
demand will continue to play a major driving
force in U.S. and world agriculture. As long as that
demand remains, good times for row-crop farmers
should continue. Ag economists also point out that
those high commodity prices are having an adverse
impact on poultry and livestock producers.
But, those same ag economists also worry that
farmers could be tempted to add debt due to the
belief that high commodity prices will continue to
increase. The key is how much debt farmers take on,
and it appears that amount is increasing significantly.
Farmers may be drawn into borrowing heavily to buy
more land, finance the higher costs of seed, fertilizer,
and fuel, and to upgrade their equipment.
That’s when things can get risky. But, that’s also
where AgCarolina Financial can help. I know that
many of our more seasoned members remember that
when times were tough in the ‘80s, while other banks
retreated, Farm Credit was there. We’ve supported
agriculture and rural America for generations and
will for many more to come. You are important to
us, and we’re committed to facing these challenging
times together and helping you thrive in the good
times yet to come.
And while energy needs, Farm Bill legislation,
and labor issues may seem uncertain, I have great
confidence that we are well suited to help you navigate
the hazards of these volatile and unpredictable times.
Our loan officers know a lot about agriculture and
the day-to-day decisions you face. Because they better
understand the problems and needs that you may
encounter as the year progresses, they’ll be better able
to work through them with you.
Finally, don’t forget that our loan officers will
meet with you when and where it is most convenient for you. Whether it be in your field, on the
tailgate of a pickup truck, or at your family kitchen
table after hours, our goal is to save you time and
money… allowing you to better manage what you
do best, growing crops and raising livestock.
I realize that a growing number of our
customers are not directly involved in traditional
farming enterprises. Instead, many of you operate
non-traditional farming businesses such as nursery
and greenhouse, timberland and forest, and aquaculture operations. While others of you borrow
money from us to finance homes, land, recreational
property, and for rural development purposes. Your
business is also vitally important to us. Because the
rural landscape has changed, and will continue to,
non-traditional markets are recognized as a key to
our growth.
One of the biggest benefits of being a member
of and borrowing from a cooperative is sharing in
the financial success. Because of your trust and
participation in your cooperative, you received a
check as part of our $7.2 million patronage refund
for 2007. By distributing profits to our members,
which has now been done for the past twenty years,
it reduces your effective cost of borrowing. Last
year, this meant you borrowed money at an average
interest rate discount of .92 percent.
We strive to provide you with products that
meet your needs. Many of you may have taken
advantage of the new Preferred Stock investment
we started offering in January 2007. Preferred Stock
provides you with an investment that pays an attractive dividend and allows you access to your money.
If you are interested in taking advantage of this new
investment product, contact your local branch office.
No two members are alike and what works for some
may not work for all. But you can be sure that we
will continue to be responsive and responsible.
We appreciate the opportunity that you
have given us to serve you, and we look forward
to providing you with the service you expect, the
expertise you deserve, and the financial products
you need. Again, please contact us if we can be
of assistance.
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AgCarolina Financial Photo Contest
It’s All About the Family!
M
any families have several generations
that work together daily in the faming
operation. These may include fathers,
sons, son-in-laws and daughter-in-laws, and other
family members. Photos do not have to focus
exclusively on farming, but may include:
• Working on the farm
• Farm activities
• Family Reunions
• Family Celebrations or Traditions
• Sunday Dinners
• Other family related activities
Location of subject should be within
AgCarolina Financial’s territory.
The preferred images are photographs 4X6
or larger, with glossy (not satin) finish. When
providing digital camera images, please give a
high quality printout (4X6 or larger), and the
digital file. This file must be 1.5MB or larger so
when enlarged it does not lose color or sharpness.
Emailed submissions of digital files will be accepted
with all of the required information attached.
Use of home printers does not produce
images of high enough quality for enlargement
and reproduction. If you use your printer at home,
please include the negative, CD file of the image,
or email the digital file.
All images will become the property
of AgCarolina Financial. No images will be
returned.
All entries must be received by August 15,
2008 and photos must be identified with name
and address on the back of the picture (please use
a label for this information). Winning entries will
be featured in the fall issue of the Farm Credit
Leader and online at www.agcarolina.com. Cash
prizes will be:
*1st Place
$300.00
*2nd Place $200.00
*3rd Place
$100.00
To submit an entry, simply complete the
attached form and mail it along with your photo
to AgCarolina Financial, PO Box 14789, Raleigh,
NC 27620 Attn: Linda Strickland. If you have any
questions, please call 800-951-3276, ext. 214 or
inquire by email to [email protected].
We need your family photos
to help us fill our 2009 photo
calendar. The calendar
will feature the best photos
of farm families that are
a part of our family here
at AgCarolina Financial.
Customers and employees of
AgCarolina Financial are
invited to enter our contest.
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AgCarolina Financial Photo Contest Image Submission Form
Submit one form with each photograph (photocopies of this form are acceptable)
Name_ ___________________________________________________________________________________________
Address_ __________________________________________________________________________________________
City__________________________________________________ State__________________ Zip_ ___________________
Phone_________________________________________ E-mail Address_________________________________________
Briefly describe your photo (what is happening…when and where it was taken):___________________________________________
________________________________________________________________________________________________
________________________________________________________________________________________________
I/We understand that images will not be returned and each photo submitted comes with full and unlimited rights to print the photo, without credit,
in AgCarolina Financial literature, without further obligation to the photographer or those people who have their person or items pictured.
Signature of Contributor________________________________________________________________________________
Send entries to: Linda Strickland, AgCarolina Financial, PO Box 14789, Raleigh, NC 27620
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Member Feature
Roanoke Nursery
A Garden & Supply Center
By: Linda Strickland
Spring has arrived!
Trees are bursting forth
with new growth and bulbs
that were planted during the
fall have broken through
the soil and are showing
off their vibrant colors. For
brothers, Tony and Joe
Beckham, this is a perfect
time of the year!
Tony and Joe are the owners of Roanoke Nursery,
a garden and supply center, located on Highway
158 in Roanoke Rapids, NC. Their retail center
provides one stop shopping for both the home
gardener and the landscaper. The wholesale side
of their business provides landscaping materials
to area contractors.
Growing up on the family farm in Franklin
County, NC, the Beckham brothers learned the
value of hard work. Working alongside their
Dad, the brothers were involved in the farming
operation that produced tobacco, soybeans,
and hogs. After high school, Tony became
employed with the North Carolina Department
of Corrections. He also began a landscaping and
grading business on the side, while his brother Joe,
an Elon College graduate, went into the trucking
business and on weekends enjoyed performing
with a local country band.
The Beckham family has always been a closeknit family. Upon their Dad’s retirement from
farming, Tony and his Dad formed Beckham
Grading and Landscaping. The father and son
team worked together doing local grading
and clearing. In addition, they also built area
golf courses.
Landscaping and a nursery business seem
to go hand in hand. In October, 2006 when the
opportunity to purchase a nursery business in the
Roanoke Rapids area arose, Tony and Joe jumped
at the chance. Tony said, “I had been interested
in the nursery business for a long time and was
excited to have this chance.”
As Tony and Joe surveyed the property they
were interested in purchasing, they began formulating their plan for renovations. The grounds and
parking lot would require major improvements.
“However,” said Tony, “with the landscaping
business already in place, Joe and I thought the
nursery would be a perfect companion, even
though it was going to take a lot of work to get
it back into shape.”
Upon the advice of a good friend, Tony and
Joe contacted AgCarolina Financial. “We had
previously dealt with a commercial bank,” says
Tony, “but found that working with AgCarolina
Financial was much simpler. Our loan officer was
great to work with and took the time to understand our needs.” He adds, “He made the entire
loan process very easy.”
Within a few weeks of closing their loan,
the Beckhams were hard at work repairing the
existing buildings, constructing bins to contain
the mulch they would offer for sale, grading and
Tony (left) and Joe Beckham, offer a wide selection of
Nutrena Feeds at their garden and supply center.
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At left: Everything you need to decorate your outdoor
garden area is available at Roanoke Nursery.
Above: Joe (left) and Tony Beckham invite you to stop
by Roanoke Nursery.
repaving the parking lot, and adding crush and
run in the parking area. Their plans called for
the main building to house a retail center where
shoppers could purchase good quality plants,
flowers, and other items for their homes and
gardens. The outside areas would offer pine straw,
mulch, topsoil, landscaping stones and other
items that both contractors and homeowners
could purchase.
Repairs and construction were soon
completed and Roanoke Nursery opened its doors
for business in November of 2006. Even with the
current slump in the housing market, Tony says,
“Sales in our wholesale business tripled during
January and February of this year over sales of
2007. We have about twenty landscape contractors who do business with us on a fulltime basis,”
he says. “Being located close to the Lake Gaston
area is a plus for our landscaping business.”
Roanoke Nursery offers decorative stone that
many homeowners and landscapers prefer in the
place of mulch, along with natural stone from
the North Carolina mountains. One of their best
selling bulk items is custom blend topsoil that is
comprised of fifty percent compost. The Beckhams
purchased a screener which removes sticks and
other debris from the topsoil so the end result
is a good fertile, clean soil. With four tandem
dump trucks, Joe and Tony provide seventy five
percent of their own trucking for hauling mulch,
stone, and topsoil.
The retail center offers a unique array of gifts,
patio and garden furnishings, plants, and beautiful
blooming flowers. In addition, shoppers can select
from a vast collection of Amish furniture that
includes tables, planters, and other furnishings
for the home that Tony and Joe purchase directly
from an Amish furniture maker. Tony says, “We
try to offer unique items that the customer will
not easily find in other retail centers.”
Roanoke Nursery not only caters to the
home gardener and landscape industry, but also to
hunters and dog owners, as a supplier of Nutrena
Feeds. The decision to become a Nutrena Feeds
dealer proved to be a worthwhile one. Within
sixty days of becoming a dealer, the Beckham
brothers set a new record for Nutrena Feeds!
Through their advertising efforts, within a
six week period, the Beckhams had given away
469 bags of Nutrena Feed. Tony went door to
door handing out flyers advertising, Buy Two and
Get One Free! “Every house that I saw that had
a dog pen, kennel, or a horse pasture, I would
stop, walk up to their door, and hand them a
flyer,” Tony said. “I probably visited at least two
hundred homes plus,” he adds. So, door to door
advertising can be beneficial!
Tony and Joe have their own special talents.
Joe is the PR person, handling all radio commercials and other advertising while Tony has the
“green thumb,” taking care of the plants, shrubs,
and trees. They both share in managing the feed
business.
They agree that their number one priority
is to “provide excellent customer service” and to
“adjust our inventory to what the public wants,”
they say.
Continued on Next Page
Landscaping stones in many different colors are
available at Roanoke Nursery. Tony (center) and Joe
Beckham show AgCarolina loan officer Roy Robertson
just one of the many stones that the garden and supply
center offers.
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...their number one priority is to “provide excellent customer service” and to
“adjust our inventory to what the public wants...”
Future plans for Roanoke Nursery include
growing their own seedlings, flowers, and maybe
even adding a full-time florist. “With summer
approaching and people spending more time
outside, we anticipate adding an outdoor area
that would include fire pits, pavers, and outdoor
furnishings,” says Joe. “We have plenty of room
to expand and hope to add some new buildings
on the property,” Tony adds.
If you’re in the Roanoke Rapids area, stop
by and say “hello” to Tony and Joe Beckham at
Roanoke Nursery. Or, you may contact them by
phone at 252-533-0116. They are open seven
days a week from April through December and
are closed on Sundays in January, February,
and March. Tell them you read about Roanoke
Nursery in the Leader magazine.
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Top Right: Topsoil is loaded into the screener which
removes sticks and other debris from the topsoil.
Right: A sampling of the beautiful flowers and foliage
that awaits at Roanoke Nursery.
Below: Natural stone from the mountains of North
Carolina is a popular item at Roanoke Nursery.
2008
Mid-Atlantic Meat
Goat Symposium
August 2, 2008
9:30 a.m. - 2:00 p.m.
Randolph Farm Extension Pavilion
Virginia State University, Petersburg, VA
Plan for success and learn how to be profitable
in meat goat production
Registration and lunch are free.
Contact your local extension office to pre-register by July 31.
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Director Election Results
Meet Your New Directors
Cliff Keel
Ellis W. Taylor
Paul A. Drake
Cliff represents the counties of Martin and
Beaufort. Farming in partnership with his brother,
Peyton, they produce tobacco, cotton, and grain
on their farming operation, Keel Brothers Farms
that is headquartered in Martin County. Cliff is
active in soil and water conservation and serves
as a board member of the District III Soil and
Water Conservation Board. He is also a member
of the Martin County Farm Bureau and the North
Carolina Tobacco Growers Association. Residing
in Robersonville, NC, Cliff attends Gold Point
Church of Christ.
Representing the counties of Northampton and
Halifax, Ellis is the owner and operator of Mush
Island Farms. Mush Island Farms is located in
Halifax County and produces cotton, peanuts,
corn, soybeans, and wheat. Ellis is active in
his community and serves on several different
agricultural related committees. One of the
committees that is near and dear to his heart is
the Northampton County Voluntary Agricultural
District which promotes the preservation of farm
land in Northampton County. Ellis is both a
board member and Chairman of the committee.
Other areas of service in the ag community
include the NC Peanut Growers Association,
the Northampton County Farm Bureau, and the
Northampton County Cooperative Extension
Advisory Board. He and his wife, Christina, reside
in Roanoke Rapids with their son Reagan. The
family attends the First United Methodist Church
of Roanoke Rapids.
Paul represents the counties of Wilson and
Edgecombe. A native of Pinetops, NC, Paul is
the owner and manager of Drake Farms. His
farming operation produces tobacco, cotton, corn,
soybeans, hogs, and cattle. He is also a beech
grass farmer. Paul and his wife, Melissa, along
with their three children, reside in Pinetops, NC
where Paul serves on the Edgecombe County Soil
and Water Conservation District Supervisory
Board, South Edgecombe Rural Fire Department,
and the Edgecombe County Mutual Livestock
Association. He is also a member of the NC
Cattlemen’s Association, the North Carolina
Tobacco Growers Association, the North Carolina
Pork Council, and a member of the National
Cattlemen’s Beef Association. The Drake family
attends Pinetops Baptist Church where Paul also
serves as a Deacon.
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9
Community News
Charlotte and Dwayne Ferrell
National Outstanding Young Farmers of the Year
By: Linda Strickland
Growing up on a farm
taught Charlotte Vick
Ferrell the value of hard
work and instilled in her a
true love for agriculture.
Above: Charlotte and Dwayne Ferrell believe in
teaching their children the value of hard work. Here,
they are pictured with their four children (l-r) Grayson,
Zeke, Eli, and Hannah in the packing house.
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The daughter of Jerome and Diane Vick, Charlotte,
along with her husband, Dwayne, and her brother,
Linwood, are partners in the Vick Family Farms
Partnership. The operation produces sweet
potatoes, tobacco, cotton, soybeans, corn and
wheat. Charlotte handles a major part of the
marketing of the farm’s cotton and Dwayne handles
the sweet potato crops. Charlotte also has taken
on the task of developing the annual financial
statements for the family farm business, along
with all the bookkeeping.
The Wilson County Young Farmers organization nominated Charlotte and her husband,
Dwayne for the Local Outstanding Young Farmers
Award. The State level follows with a series of
eliminations up to the National Level. The event
is sponsored by John Deere and supported by the
Outstanding Farmers of America Fraternity and
the National Association of County Agriculture
Agents. Ten finalists were selected from over 40
applicants for the award. Four national winners
were selected from the ten finalists. Each of the
winners demonstrated ingenuity and determination in making his or her farming operation
a viable and profitable business. The Ferrells
received the award at the 52nd Annual National
Outstanding Young Farmers Awards Congress
held in Madison, WS.
Charlotte is only the third female to receive
the award in the 52 years that it has been given
out, and only the fifth person from North
Carolina to win the award.
Charlotte gives credit to her family and
husband for their support throughout her career
in farming. “My husband was just as much a part
of the award as I was,” she said. “It is nice that we
farm together. It is not something that I just did,
or he and I. My brother and parents also work
the farm. This is an award for our entire farming
operation, not just for me.”
Receiving a nomination for their outstanding
farm practices is nothing new for the Vick family.
Four years ago, her brother Linwood was named
Outstanding Young Farmer of the Year on the
state level. He was in the top 25 nominees on the
national level, but did not win. In the early 1980’s,
Charlotte’s parents were named Wilson County
Outstanding Young Farmers of the Year.
Charlotte is very proud of her parents for
the work they have done in building Vick Family
Farms Partnership. “I just hope my brother and I
can accomplish as much as they have,” she said. “It
took a lot of dedication and a lot of hard work.”
Growing Up
As a youngster, Charlotte was heavily involved with
her local 4-H chapter and her Daddy always made
sure that each of his children had a 4-H project.
“Each year, Daddy would give us kids a 4-H
project,” she says. “We might grow cucumbers,
cantaloupes, peppers, or onions,” says Charlotte.
“It was our responsibility to keep them chopped
and to pick them,” she adds. “The local Red &
White grocery or Piggly Wiggly would always buy
our cantaloupes and we would sell the peppers
and onions at our farmyard stand.” “Many times,
Daddy would end up buying our produce,” she
adds. “Once, we used our earnings to buy a
trampoline,” says Charlotte.
At the early age of nine, she acquired her
own hogs and steers that she nurtured and cared
for and would show them in local and state
livestock shows. She also served as a judge on
local 4-H teams and also participated as a judge
on the state and national levels. Not only was she
involved in livestock shows, but she had a huge
interest in soil and water conservation.
During her early years in 4-H, she would
give talks to younger 4-H’ers about the importance
of conservation practices. Her consistent work in
“As Vick Family Farms Partnership continues to prosper, it is important
that our children understand the values on which the partnership was built.”
this area during her years in 4-H landed her a
national award in soil and water conservation. She
was also the recipient of the Governor’s Award in
Soil and Water Conservation in 1989.
When she entered high school, Charlotte
became a member of the FFA Chapter and served
as Chapter President.
Love & Marriage
Charlotte was one of those girls that seemed to fit
right in with the neighborhood boys. Whether it
was riding horses or riding four wheelers, Charlotte
could hang with the best of them. One of those
boys was a young fellow by the name of Dwayne
Ferrell. Dwayne did not grow up on a farm, but
had lived in the farming community all of his life
and he enjoyed “hanging out” with Charlotte.
After graduating from North Carolina State
University, Charlotte began working as a cotton
scout. With a bit of sweet talking, Charlotte
convinced Dwayne to join her in scouting cotton.
Charlotte said, “I would get the business and
Dwayne would do the work!”
Dwayne and Charlotte were married in
1991. Soon after their marriage, Dwayne went
to work with a tobacco company in Wilson where
he remained until 1997. In 1997, Charlotte’s
parents constructed a packing house for sweet
potatoes and Dwayne joined the Vicks in the
operation. Dwayne manages all of the sweet
potato packing, sales, and storage for Vick Family
Farms Partnership.
Their marriage has blessed them with four
children, Hannah, age 12, Grayson, age 9, and
twins Zeke and Eli, age 6.
Family Values
Charlotte and Dwayne are teaching their children
the value of hard work. The same values that
Diane and Jerome Vick taught Charlotte and
her brother.
Charlotte says, “Growing up, we never took
a vacation that wasn’t business related.” “Business
always came first.” She continues, “When we
would visit Florida, we would spend hours riding
through orange groves, so Daddy could recruit
laborers to work on the farm.” “Business first, then
Disney World,” she laughingly adds.
During the summer months, Charlotte
recalls she and her brother spending many nights
sleeping in the back of a GMC Jimmy while their
parents were irrigating the fields. Whatever farm
task was being taken care of, the Vick children
were always present, just as Charlotte and
Dwayne’s children are today.
Visiting with Charlotte in the office of Vick
Family Farms Partnership, you will often see her
children playing outside or working on their
computers when they’re not in school. Charlotte
wants her children to see first-hand the hard work
that goes into making a business successful. “This
helps them understand that our business is what
provides their beach trips and other vacations,”
says Charlotte.
Not only is Charlotte a partner in the Vick
Family Farms partnership, she is also involved
in four other family-based companies. Her agricultural expertise includes the ability to “scout”
cotton for disease and pests, market sweet potatoes
under the brand names of Carolina Gold and Pure
Gold, and she is active in water and soil conservation efforts on their farms and rental lands.
A true woman of agriculture, Charlotte Vick
Ferrell and her husband, Dwayne, share their
Charlotte and Dwayne enjoy farming and working
together. Charlotte oversees the marketing of the farm’s
cotton while Dwayne handles the marketing of the sweet
potato crops.
love of family, hard work, and agriculture with
their children.
“As Vick Family Farms Partnership continues
to prosper,” says Charlotte, “it is important that
our children understand the values on which the
partnership was built.”
AgCarolina Financial congratulates
Charlotte and Dwayne Ferrell on receiving this
national honor. We wish them many years of
continued success.
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11
From Our Members
Where I’m From
This poem was written
by Chelsea N. Davis, a
sophomore at Meredith
College in Raleigh.
Chelsea is the daughter
of Joey and Debbie Davis
and the granddaughter of
Anderson and Betty Davis,
all of Seaboard, N.C. The
Davis’ are customers of
the Ahoskie branch office
of AgCarolina Financial.
I’m from the country.
I’m from fields of cotton and corn,
From fields of soy beans and wheat.
I’m from hard work and long days,
I’m from sweat and back ache.
I’m from intensity.
I’m from church every week,
And from Grandma’s home cooked meals every Sunday.
I’m from “Please” and “Thank you,”
And from “Yes sir” and “No ma’am.”
I’m from fried chicken and butter biscuits.
I’m from a family cooked stew and corn straight out of the garden.
I’m from Pappy’s house.
I’m from a family of friends.
I’m from always knowing they’d be standing there waiting to help whenever it was needed.
I’m from family vacations,
And tender loving care.
I’m from goats in the pasture,
And from peacocks all around.
I’m from “Back in my day…” and good old stories.
I’m from “…we only beg for Christ’s sake. Amen.”
I’m from the swing set and the magnolia tree.
I’m from Christmas gatherings and Thanksgiving meals.
I’m from cutting grass all summer,
And from learning from mistakes.
I’m from gazing up at star-filled skies, and from looking down at the Earth beneath my feet.
I’m from patience, kindness, hope and love,
“And the greatest of these is love.”
And all of this is where I’m from.
—Chelsea N. Davis
12
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Financial Matters
When Do I Need an Appraisal?
David Hill, Vice President-Appraisals
A
property appraisal can help support
some of your most critical business
decisions. Whether it’s real estate or
equipment, buildings or livestock, or some
other type of personal property, AgCarolina has
expert appraisers that can help accommodate
your appraisal needs. All AgCarolina appraisers
are state certified.
Appraisals of agricultural enterprises and
rural properties demand qualified experts who
understand the complexity and intricacy of
modern agriculture and today’s rural environment.
Rural Appraisers serve land owners and lenders in
providing property valuations upon which lenders,
farmers, and investors can base lending or investment decisions. They keep up with today’s ever
changing land values to provide expert estimates
and analysis of the market value of improved
or unimproved rural real estate. The property’s
appraised value is used for sale or purchase, estate
or financial planning, lease and rental provisions,
loan collateral, tax considerations, and many
other applications. Description of the land and
improvements, discussion of future use, estimated
property value based on probable income, cost
to duplicate, and comparison with recently sold
properties is included in the information provided
by a professional appraiser.
The comprehensive appraisal you receive
from an AgCarolina appraiser is your assurance
of a superior valuation for your agricultural enterprises or rural properties.
Your AgCarolina Appraiser:
• Has expertise in the appraisal of rural and
agricultural property.
• Is educated and experienced in the exploration of soil, water quality and availability, crop potential and improvements
to estimate value of land.
• Adheres to the requirements of the
Uniform Standards of Professional
Appraisal Practice (USPAP)
• Has a network of agribusiness professionals to share information with.
Expertise in:
• Eminent domain (condemnation)
proceedings
• Conservation Easements
• Litigation involving land valuations,
damages, or losses
• Estate planning, gift valuations, or inheritance issues
• Determining a value to sell a property
• Loan Purposes
• Expert witness services
• Assistance to banks and trustees in real
estate holdings property division
Appraisals for:
• Business and/or Personal property
• Condemnation – compensation including
value of land taken by governmental
agency plus severance damages
• Developing a value basis when starting
a business
• Liquidation of assets
• Natural resources – timber, minerals,
water right
• Partial interests – minority, leasehold,
life estates, scenic, and conservation
easements
• Complex properties – permanent
plantings, processing facilities, transitional
or recreational properties
An appraisal is a
professional appraiser’s
opinion of value. The
preparation of an appraisal
involves research into
appropriate market areas;
the assembly and analysis
of information pertinent to a
property; and the knowledge,
experience, and professional
judgment of the appraiser.
If you have an appraisal need, contact the
appraisal professionals at AgCarolina Financial.
n
13
Financial Matters
Financial Planning Ideas
Planning for the Financial Stages of Your Life
Ages 0-20
You’re most likely through this stage, but your kids
may not be. Help them succeed in the remaining
financial stages of their lives by teaching them
sound financial habits. Show them how to budget
an allowance. Open their first savings account.
Once they start earning money, open an individual retirement account to teach them how to
invest for retirement.
Ages 21-30
Our needs and concerns
change as we move through
the financial stages of
our lives. Here’s a brief
overview of those stages and
some of the financial issues
you’ll probably need to
think about.
14
Establish good credit. Learn to use credit cards
wisely. Whittle down any college debts as quickly
as possible to free up money for investing and
other financial needs. Start saving at least five
to ten percent of your income for retirement,
ideally in a tax-deferred retirement plan. Time
is on your side, and time is what makes money
grow. Learn good spending, debt management
and savings habits—they’ll pay off big the rest
of your life.
Sock away the down payment on a home.
If you marry, do some pre-marriage financial
planning. Clashing money management styles are
a leading cause of divorce. Buy life insurance, and
if you work, buy disability insurance – people are
depending financially on you now. Be sure you
have medical coverage for you and your family,
even if it’s not provided at work. Draft a will,
married or not, and a power of attorney and a
living will in the event you’re incapacitated.
Ages 31-40. You may be into your second or
third (and more expensive) home. Children are
being born, getting older, getting more expensive.
You’re probably feeling financially pinched by
now, even if you’re earning more. However,
don’t suspend making contributions to your
retirement fund. If it comes down to a choice
between funding college or funding retirement,
many Certified Financial Planner practitioners
recommend that retirement should take priority.
Kids can always find other methods to finance
their way through college. No one else is going
to pay for your retirement. Update your will,
if necessary, and periodically review your life
insurance to make sure it is adequate, especially
if you have children.
Ages 41-50
You’re probably in the stride of your career.
Keep socking away for retirement. One thing to
consider at this stage is aging parents. Will they be
able to financially take care of themselves should
they need home health care or a nursing home?
Or will you be expected to pay some of the bill?
Consider buying long-term care insurance for
them if they can’t afford it. Discuss with them
their potential financial needs and concerns. Make
sure their estate plan is in place.
Ages 51-60
Expenses may start to ease off in this stage as your
children reach maturity and—you hope—move
out of the house. Beef up your retirement
contributions to at least fifteen percent, maybe
twenty percent or more, of your income. This will
probably be the last good stretch to really sock
it away. Start getting serious about your vision
of retirement, too. It will make a difference in
how you plan. Don’t get too conservative in your
investing at this stage, even if you plan to retire
soon. You’ve got a lot of years of living left and
plenty of time to weather market ups and downs.
Get serious about an estate plan.
Ages 61-70
Study your Social Security and Medicare options
to make sure you take full advantage of them. Be
sure you don’t have gaps in medical coverage if
See PLANNING Continuted on Page 25
Community News
Fisher Farms Partnership
Named TGANC’s 2008 “Tobacco Farm Family of the Year”
By:Jim Haskins, ABC Communications Group
T
im started farming as a boy with his father,
worked off the farm a couple of years,
then returned to work on his dad’s farm
in 1972. Three years later, Tim and Kay took over
the farming operation. In 2000, the Fisher Farms
Partnership was formed with Tim, Kay, Beth, and
Scott, all being equal partners. Each contributes
to the success of the operation, where Tim and
Scott manage the field and shop work, while
Beth and Kay manage the labor and accounting
of the farm’s business.
In addition to her vital role in the family’s
tobacco farming interests, Kay formed the B&F
Tobacco Warehouse in Rocky Mount in 1982. Eight years later, she moved her tobacco warehouse
to a newly constructed 120,000 sq. ft. facility in
Wilson. When all tobacco sales transformed from
auction to contract in 2000, Kay converted and
expanded her empty warehouse into B&F Storage
Company, a more than 200,000 sq. ft. full-service
storage operation.
After graduating from Meredith College
with a B.S. degree in Business Management and
a minor in Communications, Beth returned to
work on the family farm in 1993. Scott also
returned to work on the farm after earning a
degree in Field Crop Technology from North
Carolina State in 1997. Beth and her husband,
John Taylor, and Scott and his wife, Dell, have a
total of five young children.
Over the years, the Fisher operation has been
focused on flue-cured tobacco. Today, the Fisher
Farms Partnership diversified crop operation also
includes cotton, peanuts, corn, cucumbers, wheat,
rye, and soybeans. The Fisher’s broiler operation,
which dates back to 1978 when Tim and Kay
started raising broilers for Perdue, now includes
four Tier 3 houses. In addition, Tim maintains an
80 cow-calf herd of Black Angus cattle. This past
year the family opened a 2-acre field of strawberries, calling it “The Strawberry Patch.”
The Fisher’s and AgCarolina go back a long
time, starting with an initial $3,000 loan in 1975
for Tim and Kay to start farming on their own.
Since then, the Fisher family has extensively used
AgCarolina Financial for operating loans for both
their farming and Kay’s ag-related business, buying
land and equipment, and financing the building
of their homes. Says Kay, “It’s been a very good
relationship all this time, with the delivery of a
patronage dividend check being the highlight
each year.”
n
At the 26th Annual
Meeting of the Tobacco
Growers Assn. of North,
an AgCarolina Financial
member, Fisher Farms
Partnership, was recognized
as TGANC’s “Tobacco
Farm Family of the Year.”
Tim and Kay Fisher, along
with their daughter, Beth,
and son, Scott, manage
a 3,500-acre diversified
crop and livestock farming
operation in Edgecombe and
Nash counties.
Fisher Farms Partnership was recognized by the
Tobacco Growers Association of North Carolina as the
“Tobacco Farm Family of the Year.” Members of the
Fisher Farms Partnership accepting the award are (l-r):
Scott and Dell Fisher, John and Beth Taylor, and Tim
and Kay Fisher. Photo credit to Garry E. Hodges.
15
Community News
Jones Co. Producers Mike & Timmy Haddock
Win “High Cotton” Award
By: Jim Haskins, ABC Communications Group
The brother and partner
team of Mike and Timmy
Haddock of Jones Co. has
made a commitment to notill cotton farming. They
initially made the move
to offset the cost of labor,
equipment, pesticides,
fuel, and fertilizer. But,
the economics of switching
from conventional to no-till
practices became evident
after growing a few
cotton crops.
At Top: “Southeastern High Cotton Winners” Timmy
(left) and Mike Haddock of Jones County.
16
T
he results of their commitment were recognized recently when the Haddock brothers
were named winners of the “Southeastern
High Cotton Award.” Sponsored by The Cotton
Foundation and Farm Press Publications, the
award is presented annually to growers who
produce profitable cotton of consistently high
quality. Plus, they must use environmentallysound production methods.
Mike and Timmy, who have been growing
cotton in Jones County since 1990, made a
commitment to no-till cotton farming in 1998.
The Haddock brothers found that they could
not only save money, but also take better care of
the land. “Reducing wind erosion on the fine
sandy soil on most of our land and reducing water
runoff and soil erosion were other side benefits
of no-till,” says Mike.
“Going no-till has to be a long-term
commitment. The first three or four years you
can take a hit from the switch, but after that,
the benefits just keep adding up,” Timmy adds. The brothers point out that no-till fields drain
quicker in wet weather, and from a management
standpoint, no-till allows them to get back in
the field much quicker than was possible with
conventional tillage. Over the years, they have
also been able to gradually reduce the trips over
the field from 21 on their first cotton crop down
to just a handful currently.
Last year, Mike and Timmy grew 900 acres
of cotton as part of their 1,800 plus-acre farming
operation—which also includes tobacco and
soybeans. The Haddocks gin their cotton at the
Jones County Cotton Gin, Inc, an operation that
they and 15 other growers built in 1990.
Even though the Haddock brothers have
saved lots of money from switching to no-till
cotton, they still have need for a significant
line of credit to operate their farm. While they
had borrowed from AgCarolina Financial for
equipment purchases since 1996, seven years ago,
the Haddock’s went to AgCarolina Financial to
loan them the money for the operating expenses
for their farm.
Of their relationship with AgCarolina
Financial, Mike says, “It’s been great. They’ve
been more than willing to help us in any way
they can. It really helps that our farm credit loan
officer has an ag background, who understands
the financial position we’re in--knowing that we
have both good and bad years.”
Says Timmy, “We appreciate how our
AgCarolina Financial loan officer goes out of his
way to meet with us here on the farm, because it
saves us not only time, but money.
If I’m on the cotton picker, I can have them
access our account to know where we stand on
our loan. The flow of information is so much as
faster and simpler than it used to be working with
others. It’s like night and day now.”
n
Community News
Cooperative
Leadership Conference
T
Jim and Melissa Lynch
Bryan and Beth Foster
Brent and Sue Leggett
he Cooperative Council of North
Carolina, along with the Council’s of
South Carolina and Georgia, held their
seventh joint conference at North Myrtle Beach,
SC. Thirty four couples were in attendance with
nine couples from North Carolina representing
various cooperatives from across the state. During
the weekend, the couples attended sessions led
by a knowledgeable and impressive faculty of
cooperative leaders discussing the importance
of cooperatives as they pertain to each state and
the individuals’ role in the future leadership of
their organizations.
Sue and Brent Leggett of Nashville were
selected as the Cooperative Council of North
Carolina’s Outstanding Cooperators of the Year
for 2008. The Leggetts, sponsored by AgCarolina
Financial, live in the Momeyer community
of Nash County with their one-year-old son,
Colin. Sue is a graduate of North Carolina State
University with a BS Degree in Soil Science and
Agronomy. She is the bookkeeper for the family
farming business and grows new sweet potato
plantings in their greenhouses. Brent, also a
graduate of NCSU with a degree in field crops
techniques and agriculture business management,
is a sweet potato, cotton, and tobacco farmer.
The Leggetts are active in several agricultural
organizations including NC Farm Bureau, NC
Strawberry Growers Association, and the NC
Crop Improvement Association.
AgCarolina was the proud sponsor of
four other couples, in addition to the Leggetts.
Representing the association were: Paul and Lynn
Currin of Oxford, NC; Jim and Melissa Lynch
of La Grange, NC; John Fleming and Kathleen
Murphy of Halifax, NC; and Bryan and Beth
Foster of Roper, NC. The Fosters were selected
as the alternate Outstanding Cooperators from
North Carolina.
John Fleming and Kathleen Murphy
Paul and Lynn Currin
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17
Association News
AgCarolina Financial Welcomes
New Employees
David Hight, Jr.
Sam Johnson
David Hackney
David Hight, Jr. joined
AgCarolina Financial on
January 2. A graduate of
North Carolina State
University, David holds
degrees in Agricultural
Business Management,
Crop Science, and
Economics. The son of
Mike and Denise Hight of Macon, NC, prior
to his employment with AgCarolina Financial,
David was involved in farming with his family. The
family’s Warren County farm produces tobacco,
soybeans, wheat, and corn, along with cattle and
hogs. David is single and resides in Macon. He
enjoys all sports, but hunting and racing are his
favorites. David says, “I am looking forward
to working with farmers and others in the ag
community. My employment with AgCarolina
will allow me to stay involved with the agricultural
community and help farmers and others in the
rural areas with their financial needs.” David is
completing his Loan Officer training and will be
based in the Louisburg office, serving the rural
communities of Franklin, Vance, Warren, and
Granville counties.
Samuel “Sam” Johnson
joined AgCarolina
Financial on April 14
as a Loan Officer. Sam’s
career encompasses
fifteen years of banking
with Fidelity Bank in
Troy, NC, with five of
those years being spent
as a financial advisor with Fidelity Bank. Prior
to his employment with AgCarolina Financial,
he worked with Capitol Wealth Advisors at First
Carolina State Bank in Rocky Mount. Sam is a
graduate of Campbell University where he received
a Bachelors Degree in Business Administration.
He and his wife, Andrea, reside in Nashville,
NC with their two children, thirteen year old
Davis and nine year old daughter, Spencer, and
the family’s two beagles, Buster and Tipper. Sam
enjoys golf, the beach, and spending time with
his family. Sam says, “I am looking forward to
building a career with AgCarolina Financial and
being a part of the great tradition of being the
“lender of choice” in the agricultural and rural
communities in eastern North Carolina.”
D a v i d H a c k n e y,
Financial Consultant
with Money Concepts,
teamed up with
on Februar y 15 as
a financial planner.
David brings years of
experience as a financial
consultant with him. He was formerly with a
large firm, but has worked as an independent
financial planner for the past four years. David
enjoys assisting clients with real estate exchanges
and tax strategies which will bring value added
planning to AgCarolina Financial’s customers.
David graduated from the University of North
Carolina at Chapel Hill with a degree in economics
and married his sweetheart, Jean, thirty three years
ago. They have two children, Branan Alexis, twenty
six, who works with Wrangler as a merchandise
and design person for western women’s wear and
David Harrison Kyle, seventeen who is a junior
at Northwood in Pittsboro and a college baseball
prospect. Rounding out the Hackney family is
Tucker, the family’s eleven year old yellow lab, who
enjoys swimming in their farm pond. Residing in
Chatham County, the Hackneys are big supporters
of youth baseball. They also enjoy the outdoors and
especially enjoy fishing in eastern North Carolina.
David says, “I have a passion for Eastern North
Carolina. I have been blessed to have a position
that puts me in touch with the communities in
this section of our state.”
n
In Memoriam
George T. “Tommy” Overton, a longtime
AgCarolina Financial employee and recent
retiree, passed away on April 6, 2008. Tommy
had served customers in Vance, Granville, Warren
and Franklin counties during his 35 year Farm
Credit career. Serving as Branch Manager of the
Henderson office of Tar Heel Farm Credit and
Branch Manager and Loan Officer of the Oxford
office of Tar Heel Farm Credit, and upon his
retirement, he was a Loan Officer in the Louisburg
18
office. Over the years, he had built strong relationships with both his fellow employees and
customers. Tommy’s positive attitude, even in
the midst of fighting a terminal illness, will be
remembered by his family, friends, customers,
and co-workers.
Tommy is survived by his wife, Kathleen,
daughter Becky Parrish and her husband Mike of
Greenville, N.C., son Brad of Glen Falls, N.Y., and
his two grandsons, Joshua and Jacob Parrish.
n
Association News
Employee Retirements
Congratulations to Joe Rhea, Doug Smith, and Tommy Long upon their retirement from AgCarolina Financial. These three dedicated employees have a combined
total of eighty four years of serving the agricultural communities of eastern North Carolina.
Joe Rhea
Retiree Joe Rhea catches up on some fishing
With a background in commercial banking, Joe
began his Farm Credit career in 1974 as branch
manager of the Carolina Production Credit
Association (PCA) and Ahoskie Federal Land
Bank Association (FLBA) office in Windsor, NC.
Joe says, “I quickly learned that as I dealt with
our customers, I had to switch hats depending on
credit needs. Although similar, there were many
differences between the PCA and FLBA. I received
a well rounded foundation for agricultural and
home loans under the guidelines of the two separate
branches of PCA and FLBA.”
In 1983, Joe left Farm Credit to rejoin the
commercial bank community, but returned to Farm
Credit in 1997, serving as the branch manager in
the Plymouth office of East Carolina Farm Credit.
Upon his retirement on December 31, 2007, Joe
was serving as the branch manager of the Swan
Quarter office of AgCarolina Financial. Joe enjoyed
eighteen years of service with Farm Credit and
ten years with various commercial banks in the
Washington, Tyrrell, and Hyde County areas. Joe
proudly says, “I never had a charge off resulting in
losses during my career.” Adding, “I would have
preferred staying with Farm Credit during my
entire career; however, I became a better employee
as a result of lessons and experiences learned while
I was out of the Farm Credit System.”
Joe received job satisfaction from working
with local farmers and helping them to grow their
operations. Additionally, the bonds and friendships
with the employees and staff of Farm Credit were
very rewarding. Joe says, “I have made a large family
of friends including current and prior peers and
current and former customers. These relationships
reach from Northampton County to Hyde County
and I meet them almost everywhere that I travel
in eastern North Carolina.”
Joe is enjoying retirement and is staying very
busy. He plans to work part-time or maybe do
some volunteer work, once he gets some repairs
completed around his house. Living on the
Albemarle Sound provides plenty of opportunity
for his favorite past time, fishing. Now, that he
has more time, he admits that golf is starting to
look good too!
Doug and his wife, Gail, who retired from
Pitt Memorial Hospital in March, are looking
forward to some travel and just enjoying each day
as it comes.
Thomas “Tommy” Long
Doug Smith
Tommy Long’s family was on hand to help celebrate
his thirty-six year career with Farm Credit. Pictured
(l-r) Tommy’s son T.J. holding granddaughter Maria, his
daughter in law Deborah, Tommy’s wife Dale, grandson
Julian, Tommy and Gene Charville, Association CEO.
Doug Smith receives congratulations and a plaque, upon
his retirement, from AgCarolina’s CEO, Gene Charville.
For the past 30 years, Doug Smith has been a
familiar face in the Greenville office. In 1978, Doug
joined the East Carolina Farm Credit association as
a loan officer in the Greenville branch and served in
that capacity until 1986 when he became Branch
Manager of the Special Assets Management (SAM)
Department. After a three year stint with the SAM
Department, he was named branch manager of
the Greenville office. On February 29, 2008 he
concluded his Farm Credit career in the Greenville
branch where he had served as branch manager
since 1991.
“I feel very fortunate to have worked with
a good solid organization like Farm Credit,” says
Doug. “It has been great working with the farmers
and all of the wonderful people, both employees and
customers over the past thirty years,” he adds.
Tommy Long began his Farm Credit career with
Albemarle Production Credit Association (PCA)
in 1972 as a Trainee in the Elizabeth City Branch.
During his career, Tommy served as Branch Manger
of the Edenton and Plymouth offices of Albemarle
PCA. In 1981, he became President of Albemarle
PCA. Upon merger in 1983, he served as Executive
Vice President/Area Manager until reorganization
and then became Branch Manager of the Elizabeth
City office until his retirement in March, 2008.
Tommy’s Farm Credit career spanned over thirty
five years.
Co-workers, Judy Winslow, Ellen West, and
Edward Farrow have worked alongside Tommy
for fifteen years. They echo their sentiments by
saying, “We were like family. We will miss him, as
will the customers whom he has dealt with over
the years.” A customer is quoted to have said “you
could always count on Tommy Long to do the
right thing” and this thought would be echoed by
those who have known and worked with Tommy
over the past thirty five years.
Tommy says now that he is retired, “Everyday
is Saturday.” He plans to enjoy his time with family,
especially his grandchildren.
n
19
Association News
Employees Recognized
for Service and Other Accomplishments
On February 17, employees, directors,
and their guests gathered at the Angus
Barn Restaurant in Raleigh for the
annual Employee Recognition Banquet.
After enjoying a delicious dinner, the
group was entertained by Dr. Dennis
Swanberg, “The Swan,” who shared
his side-splitting, soul-building comedy
message. Employees were recognized
for special achievements during 2007,
along with recognition of the STAR
(Serving The Agricultural Region)
participants, and service awards.
Branch Support
Vice President–
Appraisals
Dave Hill
Branch of the Year Award in Growth
Ahoskie
Branch of the Year Award
for Customer Service
Branch Manager Cliff Rose and Customer Service
Representative Wendy Sumner. Customer Service
Representative Michelle Bristow was unavailable
for photo.
Halifax
Branch Support
Information
Specialist
Robbie Perry and
Neal Manning
Branch Support
Assistant Vice
President–
Accounting
Donna Knotts
Top Performer–
New Loans
Roy Robertson,
Loan Officer,
Louisburg
Top Performer–
Branch Loan
Growth
Cliff Rose,
Branch Manager,
Ahoskie
Top Performer–
Credit Life
Insurance Sales
Hattie Alston,
Customer Service
Representative,
Rocky Mount
Top Performer–
Crop Hail/MPCI
Sales
Agribusiness
Loan Officer
Greg Gladson
Top Performer–
Country Home
Loans
Brian McLamb,
Loan Officer,
Smithfield
Top Performer–
Community Service
Rachel Nicholson,
Customer Service
Representative,
Louisburg
Customer Service Representative Janice Dickens.
Branch Manager Sammy Dickens and Customer
Service Representative Deborah Bryant were not
available for photo.
Top Performer–
Agribusiness
Loan Growth
Rick Cowan,
Agribusiness
Loan Officer
(unavailable for photo)
20
Association News
Service Awards
30 years
From the left: Danny Alexander, Beth Harris
and Greg Gladson.
20 years
From the left: Donna Spencer, Edward
Farrow, and Hattie Alston
10 Years
Brian McLamb
35 Years
Thomas J. Long, Jr. (photo unavailable)
5 Years
Katie Neal and Eric Shivar (not available
for photo)
New Employees
(less than 1 yr.)
(l-r) Antoine Moore, Charles Barrett, Allen
Hales, Murray Balance, and David Hight.
STAR Program
The STAR (Serving The Agricultural Region)
Program designed to recognize those employees
who contribute 50 or more hours to a
nonprofit organization had ten participants
during 2007. Upon completion of the
employee’s 50 hours, the association contributes $500 to the nonprofit organization.
n
(from the left): Rachel Nicholson, Danny Alexander,
Brian Smith, Dave Corum, David Herring and Christine
Reel
Gene Charville, Association President and CEO, has
been a participant in the STAR Program since its
inception. He was recognized for his many years of
leadership in the Boy Scout organization, as well as for
his 30 years of service to the Farm Credit System.
21
Association News
STAR Program Donates
to Duke Cancer Patient Support Program
Rachel Nicholson is a
member of the Henderson
Chapter Women of the
Moose and also the N.C.
Women of the Moose
Community Service
Chairman. Rachel
completed her STAR hours
planning and participating
in Community Service
Workdays sponsored by
several Women of the Moose
Chapters in N.C.
22
At the Community Service Workdays, the
co-workers make sleepcaps, adult and child size
hats, small pillows for cancer patients; wheelchair/walker bags, and lap robes for local nursing
homes. These items are donated in the local areas
to cancer clinics and also to Duke Cancer Patient
Support Program.
The N.C. Moose Association committed
several years ago to sponsor the refreshments for
the cancer outpatient clinics. The following are
items purchased for the refreshment station in
2007:
Styrofoam cups (coffee) – 41 cases, 1,000
per case = 41,000 cups
Napkins – 75 cases, 1,320 per case = 99,000
napkins
Coke – 369 cases at 8 per case = 2,951
two-liter bottles of soda
Coffee – 120 cases at 42 units per case =
5,418 pots of coffee
Cookies – 264 cases at 360 cookies per case
= 131,040 cookies
Crackers – 156 cases at 792 per case =
123,552 crackers
The following is an excerpt from a letter
received by the Henderson Chapter Women of the
Moose from the Duke Cancer Patient Program:
Recently, one of our patients sent a letter to
the editor of the local newspaper in which she
said, “I want to thank the Duke Cancer Patient
Support Program for being an oasis in the Duke
hospital system. The waiting rooms are filled with
tired, sick people and their caregivers, families
Rachel Nicholson (left), Customer Service
Representative in the Louisburg office, presents a check
in the amount of $500 to Mary Ellen Williams, Duke
Cancer Patient Support Program Advisory Board
Member and Moose International Community Service
Board Member. As a STAR participant, Rachel
contributed more than 50 hours during 2007 to the
nonprofit Duke Cancer Patient Support Program. In
return, AgCarolina Financial made a contribution of
$500 to the organization.
and friends. Many have traveled a long distance
to get expert treatment from the very capable
Duke doctors. In the midst of all the worried
people, there is an island where they can help
themselves to free coffee, hot chocolate, cookies
and crackers.”
In the thank you letter from Duke Cancer
Patient Support Program to AgCarolina Financial
they state, “The support services that we offer
to our patients and their families range from
individual counseling to education, support
groups, refreshments, and programs designed to
help them understand and cope with a disease
that is changing their lives. Your gift will help
ensure that we are able to continue to provide
these vital services. It is through the caring and
generosity of people such as you that this program
is possible. ”
Rachel is a Customer Service Representative
in the Louisburg office and has been a participant
in the AgCarolina Financial STAR (Serving the
Agricultural Region) Program since its inception
in 1998.
n
Association News
Ag Leadership Institute
The conference, led by Dr. David Kohl, Professor
Emeritus at Virginia Tech and a professional
speaker, is designed to educate young, beginning,
and small farmers about issues they face on a
daily basis in agriculture and their personal
lives. Sixty participants, including either farm
couples or individuals from across AgCarolina
Financial’s territory, enjoyed networking and
sharing ideas with others who are involved in
the ag industry.
Friday evening’s after dinner speaker was
Nancy Pellett, Chairman of the Board of the Farm
Credit Administration. On Saturday morning,
the attendees received an overview and financial
update on their cooperative, AgCarolina Financial.
On Saturday evening, the group traveled to the
Progress Energy Center in downtown Raleigh
where they enjoyed dinner and the play, “Putnam
County Spelling Bee.” The conference concluded
on Sunday morning after a devotional led by La
Grange Branch Manager David Herring and his
wife, Pam, and a wrap up by Dr. Kohl.
“AgCarolina Financial is committed to
building our relationship with these young
farmers,” says Gene Charville, CEO of
AgCarolina. “The weekend conference provides a
tremendous networking opportunity for both the
young farmers, as well as the staff of AgCarolina
Financial to get to interact with these young
couples in a different setting than out on the
farm. These young couples will be our future ag
producers and decision makers,” he adds.
n
held its fourth annual
Agricultural Leadership
Institute in Raleigh, N.C.,
at the Crabtree Marriott.
2008 Ag Leadership Institute participants.
23
Association News
Our Commitment to
Data Security
Data security is one
of the most critical
responsibilities facing
financial organizations
today. At AgCarolina
Financial, we take that
responsibility seriously.
We know that your financial information is an
important asset, and like other assets, is valuable
to you and must be protected. Since we need to
collect and store confidential information about
you and your business, here are some of the ways
we protect this information:
• We’ve implemented strong security
policies, procedures, and controls. We
review these processes regularly to ensure
that we’re doing everything we can to keep
your information safe and secure.
• Employees are trained on how to protect
your confidential information. We hold
ourselves to high standards of conduct,
integrity, and honesty in all of our
business dealings.
• We have a security awareness program
which keeps all of our employees informed
of the latest security issues.
• We employ firewalls, intrusion detection
systems, and antivirus software to protect
your information. We test all these
systems routinely to make sure they can
withstand attacks.
• All sensitive documents are shredded
on site.
While we may collect personal and additional
information during the loan process to enable us
to offer you the best products and services, you
can be assured that we use this information only
as required and allowed by law. Our regulator, the
Farm Credit Administration, governs how we use
this information. Please review our website privacy
policy at www.agcarolina.com for complete details
on uses of your personal information.
We’re committed to protecting your information. We place a high value on the trust that
our customers placed in us. And, we know that
we must be diligent to maintain that trust. If you
have questions, comments, or suggestions about
information security at AgCarolina Financial,
please contact David W. Corum at dcorum@
agcarolina.com , 4000 Poole Road, Raleigh, NC.
27610, or at 1-800-951-3276, xt. 219.
n
Introducing the New
AgCarolina Financial Web Site
We have a brand new look…..go to www.agcarolina.com and check out all of the
exciting new features that have been added to our website.
Now, at one convenient location, you may post ads for equipment for sale,
stay abreast of changing weather patterns, and keep up to date on the latest in the
futures markets. Plus, your little ones are sure to find hours of entertainment and
learning about agriculture when they click on “just for kids.”
n
24
Health Matters
Slow Cooker Saves Time
Carol S. Mitchell, Ph, RD, LDN; Wake County Cooperative Extension
A
slow cooker can make life a little more
convenient because by planning ahead
you save time later, which can help
reduce last minute expenditures.
A slow cooker, a countertop appliance, cooks
food slowly at a low temperature, between 170º
F and 280º F. The low heat helps less expensive,
leaner cuts of meat become tender and shrink less.
The direct heat from the pot, lengthy cooking and
steam created within the tightly covered container
combine to destroy bacteria and make the slow
cooker a safe process for cooking foods.
Begin with a clean cooker, utensils and
work area. Wash hands thoroughly with warm
water and soap for twenty seconds before and
during food preparation. Keep perishable foods
refrigerated until preparation time. If you cut
up meat and vegetables in advance, store them
separately in the refrigerator. The slow cooker
may take several hours to reach a safe, bacteriakilling temperature. Keeping the foods refrigerated
until cooking will prevent harmful bacteria from
growing before food is placed into the cooker. For
safety, a slow cooker must be able to cook slowly
enough for unattended cooking, yet fast enough
to keep food above “the danger zone.” Fill cooker
no less than half full and no more than two-thirds
full. Vegetables cook more slowly than meat and
poultry in a slow cooker so if including them,
put vegetables in first, at the bottom and around
sides of the cooker. Then add meat and cover the
food with liquid such as broth, water or barbecue
sauce. Keep the lid in place, removing only to stir
the food or check for doneness.
Planning continued from page 14
may grow more conservative but should not
be too conservative, say many planners. With
good health, you’ll have many years left to live in
retirement and you’ll need your nest egg to stay
ahead of inflation.
Ages 71 and beyond. Hey, slow down and
enjoy. You’ve earned it! Talk to your kids about
your estate.
you retire before you’re qualified for Medicare.
Consider working part-time in retirement. A
rocking chair can get boring after a while. Buy
long-term care insurance if you haven’t already.
Carefully review retirement plan payout options.
How you choose is immensely important.
Absolutely have an estate plan. Investments
Power Failure Guidelines
• If you are not home during the entire slowcooking process and the power goes out, throw
away the food even if it looks done.
• If you are home, finish cooking the ingredients
immediately by some other means: on a gas
stove, on the outdoor grill or at a house where
the power is on.
• When you are at home, and if the food was
completely cooked before the power went out,
the food should remain safe up to two hours
in the cooker with the power off.
Slow Cooker Pointers
•
•
•
•
•
•
•
•
Start with fresh or thawed meat, not frozen.
Use chunks rather than large cuts or roasts.
Use pieces of poultry, not a whole chicken.
Cook meat on high for 1 hour and then turn
the cooker to low.
Only use recipes that include a liquid.
Check internal temperatures to make sure food
reaches 160º F.
Do not reheat foods in slow cooker.
Keep the lid on.
n
Opening the front door
at the end of the day and
being greeted by the inviting
smells of dinner wafting
from a slow cooker can be a
pleasing experience after a
long day at work.
All Securities through Money Concepts Capital Corp.
Member FINRA/SIPC
David Hackney, Financial Consultant
1-800-951-3276, Ext. 229
n
25
Recipes
A Berry Sweet Ending
Delicious, fruit filled cobblers are a sweet ending to warm summer nights.
Cobbler
Blackberry Cobbler
2 cups peaches, cut into ½ inch slices
1 cup blueberries
1 cup blackberries
1 tbsp. flour
1 tsp. cinnamon
1 tbsp. sugar
1/2 tsp. lemon juice
1 pinch salt
Streusel Topping
2 tbsp. butter, softened
2 tbsp. brown sugar
1 pinch cinnamon
1/4 cup flour
1/4 cup rolled oats
2 tbsp. pecans, toasted
8 tbsp. butter
1 cup self-rising flour
1 cup sugar
1 cup milk
2 qts. washed blackberries
Peach, Blueberry, and Blackberry Cobbler
Directions
Preheat oven to 350 degrees.. Streusel Topping:
Place all ingredients in the bowl of a food processor,
fitted with the metal blade, and pulsate until the
butter is thoroughly combined and the mixture is
the size of peas. Set aside. In large bowl, combine
all cobbler ingredients. Divide evenly among six
8 oz. ovenproof baking dishes and sprinkle with
streusel topping. Bake in over for 30 minutes or
until topping is golden. Best served warm, topped
with your favorite ice cream..
(Quick and Easy)
Directions
Mix butter, flour, sugar, and milk with beaters.
Place in bottom of a 9x9 pan; top with berries.
Bake at 350 degrees. for 1 hour.
Fresh Berry Cobbler
1 cup sugar, divided
1 ½ tbsp. cornstarch
6 cups fresh berries (blueberries, blackberries,
raspberries)
1 1/2 tsp. grated lemon rind
1 cup all-purpose flour
3/4 cup self-rising yellow cornmeal mix
1/3 cup butter, melted and slightly cooled
1 cup milk
Directions
Combine 1/3 cup sugar and 1 1/2 Tbsp.
Cornstarch in a small bowl. Combine berries,
cornstarch mixture, and lemon rind in a large
bowl until well blended; spoon berry mixture
into a lightly greased 2-qt. Baking dish. Combine
flour, cornmeal mix, and remaining 2/3 cup sugar
in a medium bowl. Stir in butter and milk until
blended. Gently spread batter evenly over berry
mixture. Bake at 350 deg. for 40 to 45 minutes.
Serve warm.
n
26
AgCarolina Financial, ACA
Consolidated
Balance ACA
Sheets
AgCarolina Financial,
Assets
Cash
(dollars in thousands)
Loans
Less: allowance for loan losses
Assets
Cash
Net loans
$
$
First Quarter Financial Report
March 31,
December 31,
2007
(unaudited)
(audited)
Consolidated Balance2008Sheets
March 31,
300
2008
790,711
(unaudited)
6,880
300
783,831
December 31,
$
2,675
2007
785,202
(audited)
6,877
$
2,675
778,325
Loans investments, held to maturity
Other
Less: allowance
for loan losses
Accrued
interest receivable
790,711
61,118
6,880
10,906
785,202
66,939
6,877
19,897
Investment
Net loansin other Farm Credit institutions
Premises and equipment, net
Otherfrom
investments,
heldCredit
to maturity
Due
AgFirst Farm
Bank
Accrued
interest receivable
Other
assets
Investment in other Farm Credit institutions
Total assets
Premises and equipment, net
Due from AgFirst Farm Credit Bank
Liabilities
Other assets
Notes payable to AgFirst Farm Credit Bank
Total assets
Accrued interest payable
Patronage refund payable
Liabilities
Other
liabilities
Notes payable to AgFirst Farm Credit Bank
Total
liabilities
Accrued
interest
payable
Patronage refund
Commitments
andpayable
contingencies
Other liabilities
Members' Equity
CapitalTotal
stockliabilities
and participation certificates
Retained
earnings
Commitments
and contingencies
Allocated
Members'
Equity
Unallocated
Capital stock and participation certificates
Total
members' equity
Retained
earnings
12,391
783,831
8,397
61,118
1,395
10,906
9,345
12,391
887,683
8,397
1,395
9,345
728,468
887,683
3,044
262
18,996
728,468
750,770
3,044
262
18,996
12,391
778,325
8,734
66,939
6,813
19,897
8,785
12,391
904,559
8,734
6,813
8,785
745,813
904,559
3,649
7,318
20,597
745,813
777,377
3,649
7,318
20,597
$
$
$
$
Allocated
Total liabilities and members' equity
Unallocated
$
Total members' equity
$
$
$
$
750,770
17,123
777,377
12,092
56,644
63,146
17,123
136,913
56,644
58,446
12,092
127,182
56,644
887,683
63,146
$
136,913
Consolidated Statements of Income
Total liabilities and members' equity
$
887,683
Consolidated
Balance Sheets
56,644
904,559
58,446
127,182
$
904,559
(unaudited)
the three months
Consolidated Statements of For
Income
ended March 31,
Interest Income
Loans
Other
Total interest income
Interest Income
Interest
Loans Expense
Notes
Other payable to AgFirst Farm Credit Bank
(unaudited)
2008
2007
For the three months
$
$
Total interest
Net interest
income income
Provision
for (reversal of allowance for) loan losses
Interest Expense
Notes
payable
to AgFirst
Credit
Net
interest
income
after Farm
provision
forBank
(reversal
of income
allowance for) loan losses
Net
interest
14,213 ended March 31, $
2008 889
15,102
14,213
9,694
889
15,102
5,408
—
$
13,961
2007 841
14,802
Provision for (reversal
Noninterest
Income of allowance for) loan losses
Loan
fees income after provision for
Net interest
Fees
for financially
related
(reversal
of allowance
for)services
loan losses
Equity in earnings of other Farm Credit institutions
Noninterest
Gains
(losses)Income
from sale of rural home loans
Loan fees
Other
noninterest income
Fees for financially related services
noninterest
income
Equity Total
in earnings
of other
Farm Credit institutions
Gains (losses)Expense
from sale of rural home loans
Noninterest
Other noninterest
income
Salaries
and employee
benefits
9,769
5,033
5,033
—
1,032
211
5,033
1,283
1
1,032
37
211
2,564
1,283
1
37
2,103
Occupancy
equipment
Total and
noninterest
income
Insurance Fund premium
Noninterest
Expense
Other
operating
expenses
Salaries and employee benefits
Total and
noninterest
expense
Occupancy
equipment
Insurance
Fundincome
premium
Income
before
taxes
Other operating
expenses
Provision
(benefit)
for income taxes
288
3,125
284
853
2,281
3,706
288
284
4,827
853
—
263
2,564
262
642
2,103
3,270
263
262
4,327
642
—
$
Income before income taxes
Provision (benefit) for income taxes
Net income
4,827
3,706
$
4,827
—
$
4,827
4,327
3,270
4,327
—
$
(unaudited)
13,961
9,769
841
14,802
5,033
—
9,694
5,408
5,408
—
1,447
173
5,408
1,395
7
1,447
103
173
3,125
1,395
7
103
2,281
Total noninterest expense
Net income
Consolidated
Statements of Income
4,327
27
Jack and Jill
Bought a Hill...
...because they wanted to start a farm.
We believe in America’s young, beginning and
small farmers, and we can finance everything you
need to get you off to a good start. After more
than 90 years of financing both large and small
farms, AgCarolina Financial knows where to begin.
No other lender understands rural living the way
we do. Call us. We’re the experts.
800-951-3276
www.agcarolina.com
P.O. Box 14789
Raleigh, N.C. 27620
PRSRT STD
U.S. POSTAGE
PAID
COLUMBIA SC
PERMIT 1160

Spring - AgCarolina

Transcription

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