As we approach the end of 2017, fall harvest season is in full swing. Yields for most crops appear to be good, however commodity prices remain low.
We are thankful that most of our territory was not significantly impacted by the recent storms. Our hearts go out to those in many areas of the country that have been hurt by the hurricanes, floods and fire. Many farms and ranches have been destroyed and many people have lost their homes, including one Farm Credit employee in Texas and nine in California.
Our association and employees have joined with other Farm Credit organizations in the state to commit resources to help with the disaster relief. Our director election was completed in October. We welcome newly elected J. Eric McPherson of Alamance County to our board. Mark A. Bray of Stokes County, David M. Coltrane of Randolph County, D. Kaleb Rathbone of Haywood County, L. Eddie Smith of Lincoln County and Vickie N. Smitherman of Yadkin County were re-elected to new terms. These folks do an excellent job representing you on the board and we look forward to working with them to ensure our association is successful and positioned to support agriculture and our rural communities into the future. The election process is an integral part of how we operate as a cooperative – local control by people who are part of agriculture.
As mentioned earlier, J. Eric McPherson was newly elected to our board. He fills the seat vacated by Tony Ragan of Lee County, who chose not to run for re-election. Mr. Ragan has served faithfully on our board for 30 years. He has been a great leader and provided progressive strategic guidance over the years that has helped Carolina Farm Credit be successful. We will miss his wisdom and experience, but are very grateful for his many years of service.
Carolina Farm Credit is experiencing another good year. Loan volume is growing and earnings are strong. We continue to monitor stress due to low commodity prices, but credit quality has remained stable despite the stress. We expect to end the year with strong financial results.
As we wrap up a season of Thanksgiving and look forward towards Christmas, I want to express my gratitude for the opportunity to lead this great company. It’s a wonderful blessing to work with a great staff that has great passion for what they do each day and great compassion for those around them.
Their passion is reflected in our good financial performance. Their compassion is reflected by a great spirit of giving. Recently, our staff donated over $15,000 to help the hurricane victims in Texas, Florida and Puerto Rico. These funds will have a huge impact in many people’s lives.
I am also grateful to work with our borrowers and members in agriculture and our rural communities. Thank you for allowing us to support you in the noble cause of feeding and clothing the world.
To read more about Carolina Farm Credit, our members and the ag industry, check out issues of our Leader magazine—you can read them online.
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