Are you a farmer or rancher whose operation has been directly impacted by the coronavirus pandemic? The Coronavirus Food Assistance Program will provide direct relief to producers who faced price declines and additional marketing costs due to COVID-19.
Click here for more information for the USDA’s Food Assistance Program.
May 14, 2020
Dear Stockholders,
Southern AgCredit continues to monitor the COVID-19 pandemic and adjust our operations to keep our customers and staff as safe as possible. Our branches continue to remain closed to public, however we are open for business and to serve our customer-owners as team members continue to work remotely.
In support of our stockholders whose operations have been negatively impacted by COVID-19, we have the following relief options available:
If your operations have been negatively impacted by COVID-19 and you want to request relief, we encourage you to reach out to your loan officer. Please keep in mind that all terms of your loan agreement remain unchanged until a formal request is received, required information is provided, an option is approved and processed to completion.
As a reminder, you can access your accounts and services online, by using Ag Banking Online. To enroll, visit www.southernagcredit.com/enroll. You can download our Mobile Banking App by searching for Southern AgCredit in your mobile device’s app store. We know how critical the online tools are as we help our customers maintain their businesses. If you need assistance with these tools, have questions, or would like support from our team, please contact us by calling your local branch or by calling our customer service line at 800-499-5742.
Our Annual Stockholder Meeting is postponed until further notice.
We will continue to provide updates on our website regarding the reopening of our branches. Thank you for your continued trust in Southern AgCredit as we work to finance life outside the city limits.
Phillip D. Morgan
Chief Executive Officer
Southern AgCredit borrower Butch Sensley was recently featured on the Farm Credit Council webinar titled “From the Farm Gate: COVID-19 Impacts on Livestock Producers.” Butch Sensley, owner of Sensley Farms, is a poultry producer from Farmerville, Louisiana.
$2500 – Jimmie Dick Carter scholarship
Ava Fratesi
Leland, Mississippi
Mississippi State University
$2500 – Emery Skelton scholarship
Mary Grace Hobart
Hollandale, Mississippi
Mississippi State University
$1000 – scholarship recipients
Amis Wyatt McMillan
Biloxi, Mississippi
Mississippi State University
Anna Swayze Hollingsworth
Glen Allan, Mississippi
Mississippi State University
Ashleigh Hughes
Benton, Louisiana
Louisiana Tech University
Ashley Hight
Elm Grove, Louisiana
University of Alabama
Ashlynn Gautreau
Tylertown, Mississippi
Southwest Mississippi Community College
Brandon Scott Hunter
Glen Allan, Mississippi
Mississippi State University
Christopher Reed
Brandon, Mississippi
University of Southern Mississippi
Emily Ann Rigney
Waynesboro, Mississippi
Pearl River Community College
Ireland Null
Hattiesburg, Mississippi
Mississippi State University
Isabelle Millwood
Leland, Mississippi
University of Mississippi
James Armstrong Neill, III
McCarley, Mississippi
Mississippi State University
James Roberts
Belzoni, Mississippi
Mississippi State University/Mississippi Delta Community College
Jillian Roberts
Belzoni, Mississippi
Delta State University
John Latham Hill
Winona, Mississippi
Northwest Mississippi Community College
Jordan Hayes Middleton
Glen Allan, Mississippi
Mississippi State University
Julia Null
Hattiesburg, Mississippi
Mississippi State University
Katelynn Gipson
Decatur, Mississippi
University of Mississippi/ East Mississippi Community College
Katie Barnes
Decatur, Mississippi
Mississippi State University
Madison Henderson
Richton, Mississippi
University of Southern Mississippi
Mary Grayson Martin
Rolling Fork, Mississippi
Pearl River Community College
Maury Danielle McClellan
Belzoni, Mississippi
East Mississippi Community College
Reagan Presley Wooldridge
Grenada, Mississippi
University of Mississippi
Reed Roberts
Winona, Mississippi
Mississippi State University/Mississippi Delta Community College
Sabra Maria Hubbard
Mt. Olive, Mississippi
Mississippi State University/Copiah Lincoln Community College
Thomas Christopher Barr
Glen Allan, Mississippi
Mississippi State University
May 1, 2020
Dear Stockholders,
The last month has been a test of resolve for many of us. At Southern AgCredit, we’ve been supporting agriculture and our rural communities for over 100 years and that commitment does not change even during the most difficult of times. In support of our stockholders whose operations have been negatively impacted by COVID-19, we have the following relief options available:
If your operations have been negatively impacted by COVID-19 and you want to request relief, we encourage you to reach out to your loan officer. Please keep in mind that all terms of your loan agreement remain unchanged until a formal request is received, required information is provided, an option is approved and processed to completion.
As a reminder, you can access your accounts and services online, by using Ag Banking Online. To enroll, visit southernagcredit.com/enroll. You can download our Mobile Banking App by searching for Southern AgCredit in your mobile device’s app store. We know how critical the online tools are as we help our customers maintain their businesses. If you need assistance with these tools, have questions, or would like support from our team, please contact us by calling your local branch or by calling our customer service line at 800-449-5742.
Our Annual Stockholder Meeting is postponed until further notice due to the safer at home and shelter in place orders for the states of Mississippi and Louisiana.
We hope you are safe and well. Thank you for your continued trust in Southern AgCredit.
Phillip D. Morgan
Chief Executive Officer
April 21, 2020
To our customer-owners,
As we enter another week of social distancing and shelter-in-place practices in Mississippi and Louisiana, we want to assure you that our borrower-owners remain top of mind. Our team is committed to providing you with the customer service and financial assistance that you deserve. In this ever-changing environment, please know that our commitment to serve agriculture and rural communities remains constant.
We know that some of our borrowers have been adversely impacted by COVID-19 and/or the vicious storms that have blown through our area. We have the following relief options available if you have been negatively affected:
We encourage you to reach out to your loan officer to discuss your changing financial needs and options above so that we can determine the best response and provide necessary support. See our relief options.
We will continue to monitor public health concerns and economic climate to adjust our delivery of services accordingly. While our branches may be closed to the public, our staff is dedicated to serving you remotely and our loan officers continue to meet with borrowers either by phone or by appointment if needed. See a list of our branch locations.
As a reminder, you can access your accounts and services online, by using Ag Banking Online. If you do not have an online account, you can enroll online. You can download our Mobile Banking App by searching for Southern AgCredit in your mobile device’s app store. We are also happy to assist you via email or phone.
We will continue to post updates regarding COVID-19 to our website.
Thank you for your continued trust in Southern AgCredit.
Phillip D. Morgan
Chief Executive Officer
Southern AgCredit
April 14, 2020
To our customer-owners,
Our mission is to serve agriculture and rural communities, and our commitment to this mission does not waiver even during the most challenging times. We understand the difficulties of a disaster or even a pandemic, and we are always prepared to provide assistance. In support of our stockholders whose operations have been negatively impacted by coronavirus (COVID-19) and the severe weather encountered on April 12, 2020, we have the following relief options available:
We encourage you to reach out to your loan officer to discuss your changing financial needs and the options above so that we can determine the best response and provide the necessary support. See our Disaster Relief options.
We will continue to monitor public health concerns and economic conditions to adjust our delivery of services accordingly. While our branches may be closed to the public, our staff is dedicated to serving you remotely and our loan officers continue to meet with borrowers either by phone or appointment if needed. See our branch locations.
As a reminder, you can access your accounts and services online, by using Ag Banking Online. If you don’t have an online account, you can enroll online. You can download our Mobile Banking App by searching for Southern AgCredit in your mobile device’s app store. We are also available to assist you via email or phone.
We will continue to post updates regarding COVID-19 to our website.
Thank you for your continued trust in us as we fulfill our mission to provide financial solutions for agriculture and rural life.
Phillip D. Morgan
Chief Executive Officer
Southern AgCredit
Southern AgCredit will postpone our Stockholders Annual Meeting until further notice due to COVID-19 and the States of Mississippi and Louisiana shelter-in-place orders.
April 9, 2020
Southern AgCredit has been serving our stockholders for over 100 years, and we remain fully committed to meeting your agricultural and rural financial needs during this challenging time.
To ensure the continuity of our day-to-day operations, we are taking additional steps to prevent the spread of COVID-19 and to protect the health and well-being of our employees, customers and the communities we serve. This includes having more of our teammates work remotely and making greater use of technology while serving customers and closing loans. Rest assured, our entire team is working daily to continue with the customer service for which you are accustomed.
We wanted to remind you of resources that are available for you to receive funding or make payments remotely:
Although our offices are closed to the public, our team members remain committed to supporting you and will meet with customers by appointment when necessary. You may call your local branch to set up an appointment with one of our team members.
We will continue to actively monitor developments and follow guidance from health officials to prioritize the health and well-being of our employees, our communities, and our customer-owners in every interaction.
We will observe Good Friday on April 10th where all branches will be closed. Happy Easter and stay safe!
Sincerely,
Phillip D. Morgan
Chief Executive Officer
At Southern AgCredit, we are continuing to monitor the coronavirus (COVID-19). We want to ensure you that we remain open for business and meeting the needs of our customer-owners. To protect the safety of our staff, many are working remotely, making use of technology and guaranteeing that we continue operation during this uncommon circumstance.
At this time, our branches will be closed to walk in visitors to limit your and our possible exposure to the coronavirus. We would like to remind you of ways that you can connect with us, receive funding and make payments remotely.
For more information about COVID-19, please visit the CDC website.
Click here for information on Disaster / Pandemic Relief options.
We will continue to monitor the situation closely and will post information as changes occur. We remain committed to you and to financing life outside the city limits!
Sincerely,
Phillip D. Morgan
Chief Executive Officer
| Branch | Email Address |
|---|---|
| Ridgeland / Corporate | smsridgeland@southernagcredit.com |
| Brookhaven | smsbrookhaven@southernagcredit.com |
| Greenville | smsgreenville@southernagcredit.com |
| Greenwood | smsgreenwood@southernagcredit.com |
| Gulfport | smsgulfport@southernagcredit.com |
| Hattiesburg | smshattiesburg@southernagcredit.com |
| Newton | smsnewton@southernagcredit.com |
| Ruston | smsruston@southernagcredit.com |
| Shreveport | smsshreveport@southernagcredit.com |
At Southern AgCredit, we place the highest priority on the safety of our borrowers and employees. In this time of uncertainty, we want to let you know that we are continually and proactively monitoring the coronavirus and taking any action needed based on guidance from public health officials. We strive to maintain a safe work environment for our employees and to have the ability to address any concerns you might have. The following information is to notify you about the resources Southern AgCredit has available that will allow you to receive funding and make payments remotely.
As of Thursday, March 19, all Southern AgCredit branches are closed to walk in traffic.
Southern AgCredit has a detailed Business Continuity Plan that allows us to continue operation during uncommon circumstances such as this pandemic. Our employees are implementing and following this Plan while taking all appropriate precautions.
Additionally, all customer appreciation events are cancelled until further notice.
For more information about COVID-19, please visit the CDC website at cdc.gov.
Click here for information on Disaster / Pandemic Relief options.
We want to thank you for being the best part of Southern AgCredit. We want you to know you can count on us in times like this. We remain committed to you and to financing life outside the city limits!
Sincerely,
Phillip D. Morgan
Chief Executive Officer
Southern AgCredit
| Branch | Email Address |
|---|---|
| Ridgeland / Corporate | smsridgeland@southernagcredit.com |
| Brookhaven | smsbrookhaven@southernagcredit.com |
| Greenville | smsgreenville@southernagcredit.com |
| Greenwood | smsgreenwood@southernagcredit.com |
| Gulfport | smsgulfport@southernagcredit.com |
| Hattiesburg | smshattiesburg@southernagcredit.com |
| Newton | smsnewton@southernagcredit.com |
| Ruston | smsruston@southernagcredit.com |
| Shreveport | smsshreveport@southernagcredit.com |
It is our greatest priority to protect the health and safety of our borrowers and employees. Although our employees are taking all appropriate precautions, we would like to encourage our customers to consider contacting their local branches through email or by phone rather than visiting in person simply to limit any possible exposure to the coronavirus.
You can find the contact information for your local branch or you can contact us at our corporate office at 601-499-2820. We are here to serve you and will maintain the same level of service to which you are accustomed.
Thank you.
RIDGELAND, Miss – The board of directors of Southern AgCredit, a rural lending cooperative, recently declared a $19.7 million patronage on its 2019 earnings. It returned a record $10.1 million in cash to its customer-owners in late-February. The co-op allocated the remaining $9.6 million to customers for future distribution.
“Our strong performance in 2019 drove the largest cash patronage in our history,” Kevin Rhodes, Southern AgCredit board chair said. “This year’s distribution will increase the total amount of patronage we have declared on behalf of our member-borrowers since 1995 to more than $179 million.”
The customer-owned cooperative returns surplus earnings to borrowers after it has met its needs for a strong capital base. The cash patronage returned to customers effectively reduces the interest rate paid by each borrower.
“When we’re successful, our customers benefit – that’s an important benefit of working with a co-op,” Rhodes said.
Southern AgCredit is a full-service co-op lender that specializes in financing rural land and agricultural operations in Mississippi and Louisiana. It is a member of the nationwide Farm Credit System, the nation’s largest source of loans for agriculture, agribusiness, rural real estate and country homes. For more information, visit SouthernAgCredit.com. rural lending cooperative.
Financial results discussed here are preliminary and unaudited. Please visit SouthernAgCredit.com this spring to see our complete results.
Pictured above: Montgomery 4-H member Avery Wood holds her Champion Division 1 lamb, assisted by fellow 4-H’er Mary-Hayden Blaylock, at the Dixie National Junior Round-Up Sale of Champions. The lamb was purchased by Southern AgCredit, Kirk Auto Group, Fancher Cattle Co. and Alliance Ag Risk Management. Representing Southern AgCredit are Elliott Fancher, left, Greenwood branch manager, and Phillip Morgan, chief executive officer.
RIDGELAND, Miss. – Southern AgCredit participated in the purchase of several animals at the 2020 Sale of Champions at the Dixie National Junior Round-Up Livestock Show on Feb. 6, helping to celebrate the sale’s 51st year.
More than 1,600 4-H and FFA members from across Mississippi competed in this year’s Dixie National Junior Round-Up Livestock Show. They showed 2,211 head of livestock, including pigs, sheep, cattle and goats. Of these entries, 46 animals were sold, and 37 scholarships were awarded.
Southern AgCredit partnered with other organizations to purchase five champions:
Southern AgCredit also donated to the scholarship fund.
“In recognition of the hard work and perseverance it takes to get to the Dixie National Junior Round-up, Southern AgCredit is pleased to once again support the Sale of Champions and the scholarship fund. We commend every 4-H and FFA exhibitor on the countless hours they spent preparing their animals for the event. And we hope the showmanship, sportsmanship and friendships they experienced will last a lifetime.”
Phillip Morgan, CEO of Southern AgCredit
This year, the sale of 46 winning animals grossed $404,395, breaking the Sale of Champions record.
Southern AgCredit is a full-service cooperative lender that specializes in financing rural land and agricultural operations in Mississippi and Louisiana. It is a member of the nationwide Farm Credit System, the nation’s largest source of loans for agriculture, agribusiness, rural real estate and country homes. For more information, visit southernagcredit.com.
Agriculture feeds the world, and its future lies in education. That’s why Southern AgCredit awards nearly $30,000 in agriculture scholarships annually to deserving high school and college students with interests in agriculture.
Each applicant must be a current Southern AgCredit borrower or a current borrower’s child, grandchild, or spouse. The deadline for entry is March 15, 2020, and the winners will be notified in April.
RIDGELAND, Miss. – Southern AgCredit recently hired two new staff members in its Ridgeland offices.
Daniel Gilbert joined the rural lending co-op as a senior accountant in its administrative office. Jodie Morgan was hired as an office administrator in the Ridgeland branch office.
Previously, Gilbert worked in accounting at a CPA firm and in higher education, as well as in timber and real estate sales. He is currently pursuing a Master of Accountancy degree at Mississippi College. He graduated with honors from Belhaven University, where he earned his bachelor’s degree in accounting and was awarded the Achievement in Accounting Award.
A native of Ridgeland, Gilbert was a scholarship baseball player at Delta State University, Hinds Community College and Belhaven.
Morgan is a graduate of Copiah-Lincoln Community College in Wesson, Mississippi. Prior to joining Southern AgCredit, she spent six years as a lending assistant at Bank of Franklin, a community bank in McComb. Morgan resides in Byram with her husband, Travis.
Southern AgCredit is a full-service lender that specializes in financing rural land and agricultural operations in Mississippi and Louisiana. It is a member of the Farm Credit System, a nationwide network of lending cooperatives that finance agriculture, agribusiness, rural real estate and country homes.
Daniel Gilbert
Jodie Morgan
Our Ruston branch has relocated to 600 North Vienna Street. Come by and visit us today!
RIDGELAND, Miss. – Southern AgCredit members Clark and Hailey Carlisle of Dixie, La., took their interests in agriculture to Capitol Hill on July 24.
As participants in the 2019 Farm Credit Young Leaders Program, the couple met with Rep. Mike Johnson, Rep. Ralph Abraham and Sen. Bill Cassidy on their Hill visits.
“Hailey and I were so thankful to have the opportunity to participate in the Farm Credit Young Leaders Program and travel to Washington, D.C., and New York City. We learned so many things about Farm Credit in the four days that we were there. The highlight of the trip was meeting with our congressional leaders on Capitol Hill. It was an experience we won’t soon forget,” said Clark.
The Carlisles were selected by Southern AgCredit to participate in the annual young leaders program. The four-day event teaches young farmers and ranchers about the Farm Credit System, the legislative process and the nation’s financial markets.
This year’s program took 20 young Farm Credit borrowers from five states — Alabama, Louisiana, Mississippi, New Mexico and Texas — to Washington, D.C., and New York City.
Besides visiting Capitol Hill, the group joined over 700 other Farm Credit borrowers and directors from across the country at a meeting with Agriculture Secretary Sonny Perdue. They also heard from House Agriculture Committee members, U.S. Reps. Austin Scott and David Scott.
Following their Washington, D.C, meetings, the young leaders visited the Federal Farm Credit Funding Corporation in New Jersey. The funding corporation buys and sells the notes and bonds that fund Farm Credit lending cooperatives.
The Carlisles are fourth-generation farmers who raise cotton and corn on 1,000 acres in Dixie, La. They also maintain cattle pasture that they rent to cattlemen in the Shreveport area. Clark and Hailey both graduated from Louisiana Tech University, he in finance and she in education. Hailey taught school for several years prior to the birth of their first son.
“This event provides participants the opportunity to gain a deep understanding of how Farm Credit supports agriculture and rural communities across the country,” said Joe Hayman, CEO of Southern AgCredit.
Southern AgCredit is a part of the 102-year-old Farm Credit System, which is a nationwide network of rural lending cooperatives that finance agriculture and rural communities.
Clark and Hailey Carlisle of Dixie, La., recently represented Southern AgCredit at the 2019 Farm Credit Young Leaders Program. As part of the program, they met with congressional leaders in Washington, D.C. They are pictured with Rep. Ralph Abraham of La., left.
Learn more about how Southern AgCredit supports YBS Farmers and Ranchers in Louisiana and Mississippi through education and loan programs.
RIDGELAND, Miss. – Southern AgCredit, a rural lending cooperative, recently hired Bradley McDaniel as a loan officer in its Hattiesburg branch and Brittany Miller as an office administrator in its Newton branch.
McDaniel holds a BBA in managerial finance from the University of Mississippi and is a 2017 alumnus of the Graduate School of Banking at Louisiana State University. Prior to joining Southern AgCredit, he spent 10 years in community banking as a lender. A native of nearby Columbia, McDaniel grew up hunting, fishing and spending time in the outdoors. He and his wife, Beth, have two children.
Miller holds a bachelor’s degree in interdisciplinary studies from Mississippi State University. She worked for BankFirst of Newton as a loan assistant prior to joining Southern AgCredit. She is married to Joe Miller of Garlandville and they have two children.
Southern AgCredit is a full-service cooperative lender that specializes in financing rural land and agricultural operations in Mississippi and Louisiana. It is a part of the Farm Credit System, the nation’s single largest source of loans for agriculture, agribusiness, rural real estate and country homes. For more information, visit www.southernagcredit.com
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HATTIESBURG, Miss. – Southern AgCredit, a rural lending cooperative, recently held an open house for their new Hattiesburg office.
The new branch office is located at 6580 US Highway 98 in Hattiesburg, Miss.
“We are thrilled to open our new office in Hattiesburg, and we’d like to thank everyone who came out and supported this event,” said Brent Barry, Southern AgCredit regional vice president and Hattiesburg branch manager. “This new office facility will allow Southern AgCredit to continue to grow and better serve our member-borrowers throughout the area.”
Southern AgCredit is a full-service cooperative lender that specializes in financing rural land and agricultural operations in Mississippi and Louisiana. It is a part of the Farm Credit System, the nation’s single largest source of loans for agriculture, agribusiness, rural real estate and country homes. For more information, visit www.southernagcredit.com.
RIDGELAND, Miss. — Stockholders of Southern AgCredit recently re-elected John “Van” Bennett of Spearsville, La., Larry W. Killebrew of Lexington, Miss., and Kevin Rhodes of Pelahatchie, Miss., to the lending cooperative’s board of directors. They will each serve three-year terms.
Bennett and his family own a 300-acre cattle and timber farm that he and his wife operate under Rainbow Hill Farms.
Killebrew is the owner/manager of Larry Killebrew Farms, a 3,000-acre farming operation consisting of row crops – cotton, corn, and soybeans – and cattle.
Rhodes owns KDR Farms, Inc., a 300-acre farming operation consisting of 80 head of beef cattle, two six-house poultry farms in Rankin County and a five-house poultry farm in Scott County.
“At the core of our cooperative structure, is a stockholder elected board of directors,” said Joe Hayman, chief executive officer. “Through the election process, the stockholders directly participate in the governance of the Association.”
Southern AgCredit’s 2020 Nominating Committee consists of the following: Tim Clements, Delta Region; Alan Ezelle, Central Region; Chris Stockman, Southern Region; James Marsalis, Louisiana Region; J. Blake McCartney, Louisiana Region.
The Southern AgCredit 10-member board also includes Reggie Allen of Brookhaven, Miss.; Scott Bell of Lena, Miss., Gene Boykin of Rolling Fork, Miss.; Steve Dockens of Ocean Springs, Miss., Allen Eubanks of Lucedale, Miss., T.C. Hall of Gloster, La.; and Linda Staniszewski of Hattiesburg, Miss.
Southern AgCredit is a full-service cooperative lender that specializes in financing rural land and agricultural operations in Mississippi and Louisiana. It is a member of the Farm Credit System, a nationwide network of lending cooperatives that finance agriculture, agribusiness, rural real estate and country homes. For more information, visit www.southernagcredit.com.
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Learn more about Southern AgCredit’s educational scholarships for high school and college students studying agriculture.
RIDGELAND, Mississippi – Southern AgCredit, a rural lending cooperative, recently hired Hayes Shepherd as a collateral evaluator trainee in its Ridgeland administrative office.
Shepherd was a summer intern at Southern AgCredit in 2018, and recently graduated from Mississippi State University with a bachelor’s degree in finance with a concentration in risk management and insurance. He is a native of Flora, Mississippi.
Southern AgCredit is a full-service cooperative lender that specializes in financing rural land and agricultural operations in Mississippi and Louisiana. It is a member of the Farm Credit System, a nationwide network of lending cooperatives that finance agriculture, agribusiness, rural real estate and country homes. For more information, visit www.southernagcredit.com.
RIDGELAND, Miss. – Southern AgCredit, a rural lending cooperative, recently hired Victoria Scarbrough as an accountant in its administrative office in Ridgeland, Miss.
Scarbrough holds a bachelor’s degree in accounting, a BBA degree in finance and an MBA degree, all from Mississippi State University. She worked for a real estate company while she was pursuing her master’s degree. A native of Gluckstadt, Miss., Scarbrough grew up riding horses and living on a crop farm.
Southern AgCredit is a full-service cooperative lender that specializes in financing rural land and agricultural operations in Mississippi and Louisiana. It is a part of the Farm Credit System, the nation’s single largest source of loans for agriculture, agribusiness, rural real estate and country homes. For more information, visit www.southernagcredit.com.
Southern AgCredit’s Fit for Ag / Jingle Bell Jog raised $30,000 for Batson Children’s Cancer Center. The race was held on December 1, 2018 at Madison Central High School in Madison, MS. This year we had over 650 participants and over 150 volunteers. Southern AgCredit would like to thank everyone who came out and supported this event. Be on the lookout for information regarding the 2019 Fit for Ag / Jingle Bell Jog race!
Southern AgCredit, a rural lending cooperative, recently hired Wesley Head as information technology specialist in its administrative office in Ridgeland, Miss.
Head graduated magna cum laude from Mississippi State University. Prior to joining the co-op, he owned and operated his family technology company, Head Technology Group Inc. He and his wife live in Canton with their five children.
Southern AgCredit is a full-service cooperative lender that specializes in financing rural land and agricultural operations in Mississippi and Louisiana. It is a member of the nationwide Farm Credit System, the nation’s single largest source of loans for agriculture, agribusiness, rural real estate and country homes.
The board of directors of Southern AgCredit, a rural financing cooperative, recently declared a record $19.7 million patronage. In mid-February, $9.9 million of the patronage was returned as a cash payment to its member-borrowers. The remaining $9.8 million of the co-op’s earnings from 2018 is in the form of equities allocated to each customer-owner.
As a borrower-owned cooperative, Southern AgCredit provides its members with agricultural and rural financing at competitive rates. Southern AgCredit also returns surplus earnings to them after it has met its needs for a strong capital base. This record cash patronage — the largest in the co-op’s history — reduces the effective interest rate paid by each borrower in 2018.
“We are pleased that our cooperative has the financial strength to provide this patronage refund to the customers, who collectively own the business. This year’s distribution will increase the total amount of patronage we have declared on behalf of our member-borrowers since 1995 to more than $165 million.”
Kevin Rhodes, Board Chairman, Southern AgCredit
Southern AgCredit is a full-service cooperative lender that specializes in financing rural land and agricultural operations in Mississippi and Louisiana. It is a member of the nationwide Farm Credit System, the nation’s largest source of loans for agriculture, agribusiness, rural real estate and country homes.
Financial results discussed here are preliminary and unaudited. Please visit our Financial Reports this spring to see our complete results.
Joe Hayman, CEO of Southern AgCredit, has been named one of Mississippi’s Top CEOs for 2019 by the Mississippi Business Journal.
Hayman leads the agricultural lending cooperative whose operations span Mississippi and Louisiana, providing financing for farmers, ranchers, agribusiness, rural residents and rural infrastructure.
“When the board hired me,” Hayman said, “I was excited about the potential to make a positive impact not only for our customer-owners but to provide professional opportunities to our staff. Over the past 12 years, the team has originated over $1.6 billion in new loan volume that goes directly into the rural economy for agricultural producers to not only succeed, but thrive.
“Our customer-owners literally provide thousands of jobs, so the impact of our business on the economy is significant. Our focus on setting the standard regarding operating efficiency has allowed the board to distribute nearly $100 million in patronage refunds to our customer-owners during that time period — greatly reducing their effective cost of borrowing.”
Kevin Rhodes, Southern AgCredit’s board chairman, was pleased with Hayman’s recognition.
“He came in at a very pivotal time to the institution and not only navigated it through some very challenging times, but worked to foster an ownership culture that is unique to the industry,” said Rhodes. “That culture is the foundation of our success and is key to our ability to exceed expectations, every time. We’re very proud that Hayman’s achievements have been recognized by Mississippi’s business community.”
The Mississippi Business Journal website notes that the honor recognizes leaders around the state who demonstrate excellence among the top executives in their field — CEOs who “have helped their companies (or organizations) achieve strong growth and success and have made a profound impact on their company and community.”
Photo: Lot 16: Champion American Steer Exhibited by Anna Beth and Aimry Blackwell, Smith 4-H/Raleigh FFA. Buyers: Southern AgCredit; McDonald Trucking, Inc.; MS Land Bank; Mississippi Cattlemen’s Association.
RIDGELAND, Miss. – Southern AgCredit recently participated in the purchase of several animals at the 2019 Sale of Champions at the Dixie National Junior Round-up Livestock Show on Feb. 7, helping to celebrate the sale’s 50th year.
More than 1,600 4-H and FFA members from across Mississippi competed in this year’s Dixie National Junior Round-Up Livestock Show, showing 2,263 head of various livestock including pigs, sheep, cattle and goats. Of these entries, 45 animals were sold and 37 scholarships were awarded.
Southern AgCredit partnered with other organizations to purchase the:
Southern AgCredit also donated toward the scholarship fund.
“The 4H and FFA youth programs do a fantastic job of developing the next generation of leaders in Mississippi,” said Southern AgCredit CEO Joe Hayman. “We firmly believe that it is our responsibility to invest in these young people who have demonstrated strong work ethic, responsibility and an interest in life outside the city limits. The leadership skills learned through their involvement in these programs are simply life changing for them and for those with whom they will come in contact with from here on.”
This year, the sale of 45 winning animals grossed $382,775. In addition, 37 scholarships will be awarded.
Southern AgCredit is a full-service cooperative lender that specializes in financing rural land and agricultural operations in Mississippi and Louisiana. It is a member of the nationwide Farm Credit System, the nation’s largest source of loans for agriculture, agribusiness, rural real estate and country homes.
Southern AgCredit is once again a proud sponsor of the Dixie National Livestock Show and Rodeo. The Rodeo kicked off February 7 and goes through February 13 in the Jackson Mississippi Coliseum. Pictured above at the Dixie National Rodeo are Lt. Governor Tate Reeves, Lecile the Rodeo clown and others who joined in for a fun night.
