AgStar Financial Services, ACA
Type
IndustryAgribusiness
Founded1916
Headquarters
Mankato, Minnesota
Area served
United States
Key people
Rod Hebrink, CEO
Increase $123.9 million (2015)
Total assetsIncrease $8.36 billion (2015)
Total equityIncrease $1.2 billion (2015)
Number of employees
550 +
Websitewww.agstar.com

AgStar Financial Services is a US Farm Credit System Agricultural Credit Association (ACA) that delivers a wide range of farm and rural credit programs and services in 67 counties located in Minnesota and northwest Wisconsin.[1][2] AgStar provides financial products including agricultural loans, leases, crop insurance, life insurance, and home mortgages.[3][4][5][6] The financial services offered include appraisals, money market accounts, online banking, and other consulting services.[7][8]

As an ACA cooperative it is owned by 15,200 client-shareholders to whom it provides returns through patronage refunds.[2][9] It has its headquarters in Mankato, MN[1] and is one of the larger Farm Credit associations in the nation. It is located within AgriBank Farm Credit Bank's district, who acts as a wholesale lender for AgStar.[1] For 2015 it reported $123.9 million in net profit and $8.36 billion in assets, up from the 2014 reported values of $117.4 million in net profit and $7.67 billion in assets.[9][10]

On July 1, 2017, AgStar Financial Services, Farm Credit Services and Badgerland Financial joined together to form Compeer Financial. The merger was approved from the Farm Credit Association.[11]

Executives

Position[12] Name
President & Chief Executive Officer Rod Hebrink
Executive Vice President and Chief Credit Officer Joe Deufel
Sr Vice President, Relationship Management Mark Greenwood
Sr Vice President, Operational Excellence and Quality Jodie Hermer
Sr Vice President, Brand and Talent Strategies John Hemstock
Sr Vice President & General Counsel Paul Kohls
Executive Vice President & Chief Relationship Management Officer Wick Manley
Sr Vice President & Chief Risk Officer Tim Tracy
Sr Vice President Investments in Rural America John Monson

References

  1. 1 2 3 "View FCS Institution Directory: AgStar Financial Services, ACA". Farm Credit Administration. Retrieved September 25, 2016.
  2. 1 2 Monke, Jim (May 17, 2016). Farm Credit System (PDF). Congressional Research Service.
  3. ↑ "Agriculture and Farm Loans". Archived from the original on April 19, 2016.
  4. ↑ "Agricultural Equipment Leases". Archived from the original on April 20, 2016.
  5. ↑ "Farm and Agricultural Insurance". Archived from the original on April 15, 2016.
  6. ↑ "Home Mortgage Services". Archived from the original on January 31, 2016.
  7. ↑ "Business Services". Archived from the original on April 18, 2016.
  8. ↑ "Rural Financial and Business Consulting". Archived from the original on April 25, 2016.
  9. 1 2 "AgStar 2015 Annual Report" (PDF). AgStar. March 9, 2016.
  10. ↑ "AgStar 2014 Annual Report" (PDF). AgStar. March 11, 2015.
  11. ↑ "1st Farm Credit Services, AgStar Financial Services & Badgerland Financial Complete Merger". www.farm-equipment.com. Retrieved August 22, 2019.
  12. ↑ "Executive Team". Agstar.com. April 17, 2013. Retrieved March 7, 2015.

Public Domain This article incorporates public domain material from Jim Monke. Farm Credit System (PDF). Congressional Research Service.

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