Release date: 4/7/2016
STATESVILLE, NC – Vance C. Dalton, Jr., CEO of Carolina Farm Credit announces that the association recently published its 2015 annual report. The report’s theme celebrates being Farmer Strong. The report highlights the AG Biz Planner and Corporate Mission Fund programs.
The report also discloses Carolina Farm Credit’s 2015 financial performance. Carolina Farm Credit reported net earnings of $29.9 million in 2015. These earnings generated a strong return on assets of 2.10%. Loan volume grew just under 2% in 2015.
Carolina Farm Credit returned $18.8 million in cash to members in 2015: $5.71 million in patronage refunds paid in in the spring and $13.1 million paid as surplus allocated refunds in the fall. This marked the 28th consecutive year of patronage refunds. Members received these checks at customer appreciation events held by each of the 34 Carolina Farm Credit branch offices.
“2015 was a very good year for Carolina Farm Credit,” said Carolina Farm Credit CEO, Vance C. Dalton, Jr. “Operating as a cooperative enabled us to return a significant portion of our earnings to the farmer members to be invested back into their operations and local communities.”
Carolina Farm Credit’s 2015 annual reports were mailed to each stockholder/member at the end of March. Visit Carolina Farm Credit’s website to view the report online.
Carolina Farm Credit is a stockholder-owned cooperative providing financing to full and part-time farmers and agricultural-related businesses and also provides financing for the construction and purchase of homes in 54 counties through 34 branch offices. Other financial services available are credit life insurance, appraisal services, leasing programs and financial planning.
For 100 years Farm Credit has been supporting rural communities and agriculture with reliable, consistent credit and financial services.
Carolina Farm Credit serves over 9,200 members with loans outstanding totaling more than $1.4 billion. The association’s territory covers the western half of North Carolina, with branch offices located in Albemarle, Asheboro, Asheville, Boone, Browns Summit, Burnsville, Carthage, Concord, Conover, Ellerbe, Graham, Hendersonville, Hillsborough, Jefferson, Lenoir, Lexington, Lincolnton, Monroe, Murphy, Pilot Mountain, Roxboro, Rural Hall, Salisbury, Shelby, Siler City, Sparta, Spindale, Statesville, Taylorsville, Wadesboro, Waynesville, Wilkesboro, Yadkinville, and Yanceyville.
Carolina Farm Credit was recognized as a 2015 Best Employer in North Carolina. The list of the Best Employers in North Carolina was created by Business North Carolina, the Society for Human Resource Management (SHRM) – NC State Council and Best Companies Group.
Directors for Carolina Farm Credit are L. Kim Starnes, Chairman, Salisbury; W. Rex Bell, Vice-Chairman, Statesville; John M. Barnard, Statesville; E. Bernard Beck, Seagrove; Mark A. Bray, Lawsonville; David M. Coltrane, Pleasant Garden; Susie J. Gambill, Sparta; Joseph A. Lail, Shelby; Clark M. Newlin, Haw River; Thomas E. Porter, Jr., Concord; Tony L. Ragan, Sanford; D. Kaleb Rathbone, Waynesville; Lewis E. Smith, Lincolnton; Vickie N. Smitherman, East Bend; Dr. Alton Thompson, Summerfield.
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