AgriLand and Texas AgFinance Announce Merger

FCS's picture
Printer-friendly versionPrinter-friendly versionPDF versionPDF version

ROBSTOWN, TX, Jan. 2, 2014 –Two rural Texas lending cooperatives — AgriLand, Farm Credit Services (FCS) and Texas AgFinance, FCS — merged Jan. 1.   The merger of the two cooperatives was approved by their stockholder-customers in November and by their federal regulator, the Farm Credit Administration. 

The resulting organization, known as Texas Farm Credit Services, has combined assets of $769 million. 

Mark Miller, Texas Farm Credit chief executive officer, said that the merger brings additional value to stockholders of both financing cooperatives. 

“This merger allows our association the opportunity to expand our product offering throughout our combined territory, to grow our market share and increase our efficiency,” said Miller. Texas Farm Credit now serves 100 of the 254 Texas counties. 

“As a cooperative, we are owned by our members, and they stand to benefit when we grow stronger,” Miller said. “And, our customers can still expect the same great products and services from a friendly and knowledgeable staff. That is what we are known for.” 

Texas Farm Credit finances agricultural operations, rural recreational property, agribusiness and other rural real estate. It is headquartered in Robstown, Texas, and has lending offices in Athens, Bandera, Beaumont, Bonham, Brenham, Clarksville, Fairfield, Gainesville, Hebbronville, Nacogdoches, New Waverly, Paris, Pleasanton, Raymondville, Robstown, San Antonio, Sulphur Springs, Tyler, Uvalde, and Weslaco. Texas Farm Credit is part of the nationwide Farm Credit System, a network of rural financing cooperatives established in 1916. 

News Source : AgriLand and Texas AgFinance Announce Merger

Copy this html code to your website/blog to embed this press release.