Farm Credit System

CamoAg and American AgCredit Collaborate to Revolutionize Agricultural Data Management

Retrieved on: 
Tuesday, March 26, 2024
Agriculture, Soil, Farmer, Growth, Feedback, Farm Credit System, Ecosystem

CHICAGO, March 26, 2024 /PRNewswire/ -- CamoAg, a leading provider of advanced agricultural intelligence and workflow management solutions, and American AgCredit, a member of the Farm Credit System, which offers financial services to agricultural and rural communities across multiple states, are working together in efforts to transform the agricultural data landscape.

Key Points: 
  • CHICAGO, March 26, 2024 /PRNewswire/ -- CamoAg, a leading provider of advanced agricultural intelligence and workflow management solutions, and American AgCredit, a member of the Farm Credit System, which offers financial services to agricultural and rural communities across multiple states, are working together in efforts to transform the agricultural data landscape.
  • "American AgCredit is committed to serving our customers – U.S. producers and agribusinesses – in innovative ways to enable their growth and success," said Lynn Scherler, Executive Vice President and Chief Alliance Officer of American AgCredit.
  • Through this collaboration, American AgCredit will actively engage with other CamoAg customers, fostering a dynamic ecosystem of industry experts to refine existing products while providing invaluable feedback and insights for the development of new offerings on the CamoAg platform.
  • "We're very pleased that American AgCredit has chosen to work with us," said Corbett Kull, CEO of CamoAg.

Capital Farm Credit returns over $70 million to members this fall maintaining its commitment to retire borrowers’ allocated equity

Retrieved on: 
Thursday, November 16, 2023
Farmer, Farm Credit System, Bank

Allocating and retiring equities ensures members of the cooperative retain ownership and fully benefit from the earnings of the association.

Key Points: 
  • Allocating and retiring equities ensures members of the cooperative retain ownership and fully benefit from the earnings of the association.
  • Combined with the $127.6 million cash patronage, based on 2022 earnings paid in March, Capital Farm Credit returned $197.7 million in total cash distributions to its members in 2023.
  • “The cooperative returns program has always set Farm Credit associations apart from other lenders,” said Jeff Norte, chief executive officer.
  • When members invest in Capital Farm Credit, together, both help strengthen the agricultural economy and rural communities.

Government of Canada announces new economic incentive to reduce methane emissions from beef cattle

Retrieved on: 
Sunday, December 10, 2023
Forestry, Challenge, Interest, Government of Canada, Climate change, Agriculture and Agri-Food Canada, Carbon dioxide, Guilbeault, COP28, Greenhouse gas, The Honourable, Greenhouse, Government, Farm Credit System, Farmer, Methane, Atmosphere, Beef cattle, REME, Environment, GHG, Cattle, Agriculture, Livestock, Dairy, Natural gas, Food, QC

This new draft protocol, Reducing Enteric Methane Emissions from Beef Cattle (REME protocol), will incentivize farmers to implement changes that would reduce enteric methane emissions from their beef cattle operations with an opportunity to generate offset credits that they can sell.

Key Points: 
  • This new draft protocol, Reducing Enteric Methane Emissions from Beef Cattle (REME protocol), will incentivize farmers to implement changes that would reduce enteric methane emissions from their beef cattle operations with an opportunity to generate offset credits that they can sell.
  • The REME protocol will encourage beef cattle farms to reduce enteric methane emissions by improving animal diets, management, and other strategies that support more efficient animal growth.
  • This Challenge awards funding to innovators advancing low-cost and scalable practices, processes, and technologies designed to reduce enteric methane emissions produced by cattle.
  • The Agricultural Methane Reduction Challenge builds on the Government of Canada's actions to reduce methane emissions through Canada's Methane Strategy , in support of the Global Methane Pledge, the 2030 Emissions Reduction Plan , and the Sustainable Agriculture Strategy.

AgriBank Reports Third Quarter 2023 Financial Results

Retrieved on: 
Thursday, November 9, 2023
NFI, Economic Research Service, Bank, Risk management, USDA, Investment, Government, Growth, AgriBank, Weather, Farmer, ROA, Environment, Livestock, Poultry, Farm Credit System, Cryptocurrency

ST. PAUL, Minn., Nov. 9, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank announced financial results for the third quarter of 2023, with strong profitability, credit quality, and liquidity and capital.

Key Points: 
  • ST. PAUL, Minn., Nov. 9, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank announced financial results for the third quarter of 2023, with strong profitability, credit quality, and liquidity and capital.
  • Credit quality: Total loan portfolio credit quality remained strong, with 99.4 percent of loans classified as acceptable at September 30, 2023.
  • "AgriBank has continued to produce strong financial results through the first nine months of the year," said Jeffrey Swanhorst, AgriBank chief executive officer.
  • The U.S. Department of Agriculture's Economic Research Service (USDA-ERS) updated its 2023 forecast of the U.S. aggregate farm income and financial conditions on August 31, 2023.

Farm Credit Illinois Elevates Agricultural Lending Prospecting with CamoAg's Client Intelligence Product

Retrieved on: 
Wednesday, August 30, 2023
System, UCC, FCI, Farm Credit System, AG, Bank, Retail

CHICAGO, Aug. 30, 2023 /PRNewswire/ -- The Farm Credit Illinois (FCI) cooperative announced its selection of CamoAg's Client Intelligence product to assist in its goal to provide more farm families in the southern 60 counties of Illinois with reliable, consistent credit and financial services.

Key Points: 
  • CHICAGO, Aug. 30, 2023 /PRNewswire/ -- The Farm Credit Illinois (FCI) cooperative announced its selection of CamoAg's Client Intelligence product to assist in its goal to provide more farm families in the southern 60 counties of Illinois with reliable, consistent credit and financial services.
  • "CamoAg's Client Intelligence product will be an effective sales tool for our team and fill a gap in our marketplace knowledge," said Shaun Murray, Farm Credit Illinois chief marketplace officer.
  • Our Client Intelligence product is designed to consolidate data and provide actionable insights to ag lenders and agribusinesses, and we believe it will be a valuable addition to Farm Credit Illinois' operations."
  • For more information about Farm Credit Illinois's selection of CamoAg's Client Intelligence product or to learn more about CamoAg's solutions, visit CamoAg's website .

RuralWorks Partners Announces Inaugural RuralWorks Impact Fund to Invest in Growth Stage Rural Businesses

Retrieved on: 
Tuesday, August 15, 2023
Professional Services, Forest Products, Agriculture, Finance, Natural Resources, Banking, Workforce, CRF, Partnership, Investment, CoBank, Quality of life, RBIC, Community, USDA, Farm Credit System, Knowledge, CIO, Ecosystem, Renewable energy, Management

RuralWorks Partners, LLC (RuralWorks), a USDA-licensed Rural Business Investment Company (RBIC), today announced the launch of its inaugural fund, RuralWorks Impact Partners 1, L.P. which will back emerging growth stage businesses operating in rural communities in the United States that advance sustainable and regenerative agriculture, forest products, waste stream upcycling, the circular economy, and local and regional food systems.

Key Points: 
  • RuralWorks Partners, LLC (RuralWorks), a USDA-licensed Rural Business Investment Company (RBIC), today announced the launch of its inaugural fund, RuralWorks Impact Partners 1, L.P. which will back emerging growth stage businesses operating in rural communities in the United States that advance sustainable and regenerative agriculture, forest products, waste stream upcycling, the circular economy, and local and regional food systems.
  • “We launched RuralWorks in recognition of the need for equity capital for rural businesses at a time of dramatic change and opportunity for rural America,” said Skip Wyer, CIO of RuralWorks.
  • “CRF is committed to providing access and opportunity to small and innovative rural businesses,” said Jennifer Anderson, RuralWorks Board Member and Chief Administrative Officer of CRF.
  • “We view RuralWorks as an important step in enhancing the next generation of rural investors focused on building rural community wealth and resilience.”
    Through its other partner, Conduit Capital, RuralWorks will source insights, resources, and networking opportunities to help rural companies grow their businesses and accelerate their impact.

AgriBank Reports Second Quarter 2023 Financial Results

Retrieved on: 
Wednesday, August 9, 2023
U.S. Department of Defense Strategy for Operating in Cyberspace, Economic Research Service, Poultry, Farmer, Risk management, Livestock, Government, Projection, ROA, Investment, USDA, AgriBank, Chicago and Northern District Association of Colored Women's Clubs, Weather, Environment, Farm Credit System, NFI, Cryptocurrency, Bank

ST. PAUL, Minn., Aug. 9, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank announced financial results for the second quarter of 2023, with strong profitability, credit quality, and liquidity and capital.

Key Points: 
  • ST. PAUL, Minn., Aug. 9, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank announced financial results for the second quarter of 2023, with strong profitability, credit quality, and liquidity and capital.
  • "AgriBank has remained financially resilient through the volatile macroeconomic conditions we continue to experience," said Jeffrey Swanhorst, AgriBank chief executive officer.
  • "Our cooperative network, which includes AgriBank and the Farm Credit lenders we support, continues to maintain the financial strength to provide farmers, ranchers and other borrowers the competitive credit and financial services they expect from us."
  • Although still in an overall unrealized loss position, unrealized gains during the first quarter in the investment portfolio, paired with unrealized gains in the derivative portfolio during the second quarter, positively impacted equity through the first half of 2023.

KALERA PLC ANNOUNCES ITS WHOLLY-OWNED AND MAIN OPERATING SUBSIDIARY, KALERA, INC., FILES FOR CHAPTER 11 PROTECTION TO PURSUE FINANCIAL AND OPERATIONAL REOGRANIZATION

Retrieved on: 
Tuesday, April 4, 2023
Central Florida, Human resources, Bankruptcy, Employment, Chairperson, Senior, File, Chapter 11, Title 11, United States Code, KAL, Loan agreement, United States Bankruptcy Court for the Southern District of New York, DIP, Sale, Security, ACA, Investment, Annual report, Bankruptcy Code, United States bankruptcy court, Insolvency and Bankruptcy Code, 2016, Loan, Farm Credit System, Management, Security (finance)

Kalera PLC, Kalera S.A. and other subsidiaries including Vindara, Inc. and Iveron Materials, Inc. are not included in the Chapter 11 filing.

Key Points: 
  • Kalera PLC, Kalera S.A. and other subsidiaries including Vindara, Inc. and Iveron Materials, Inc. are not included in the Chapter 11 filing.
  • Kalera intends to use the court-supervised process to evaluate strategic alternatives for Kalera, including a potential sale of Kalera or its assets.
  • In connection with the filing, Kalera PLC has appointed Mark Shapiro, Senior Managing Director at B. Riley Advisory Services, as Chief Restructuring Officer.
  • The commencement of the Chapter 11 Case constituted an Event of Default that accelerates Kalera’s obligations under the Loan Agreement.

Midwest Growth Partners Announces Major Milestone: Fund III Closure

Retrieved on: 
Wednesday, April 12, 2023
Agriculture, MGP, Farm Credit System, Organization, Growth, Entrepreneurship, Food, Partner (business rank), Investment, WEST, Country, Bank

WEST DES MOINES, Iowa, April 12, 2023 /PRNewswire/ -- Iowa-based private equity firm, Midwest Growth Partners, announced today the completion of fundraising for their third investment fund. Beginning in the second quarter of 2022, the firm exceeded its initial fundraising goal and raised $170 million in its largest fundraising effort to date.

Key Points: 
  • WEST DES MOINES, Iowa, April 12, 2023 /PRNewswire/ -- Iowa-based private equity firm, Midwest Growth Partners , announced today the completion of fundraising for their third investment fund.
  • Since 2013, MGP has stood as a trusted partner for established lower middle market companies seeking succession planning liquidity or growth investment.
  • Since the closure of Fund III, MGP has continued investing in U.S. food and agriculture, manufacturing, and distribution industries, often in rural, underserved areas.
  • Closing our third and largest fund is a huge milestone, and we're looking forward to the next chapter," remarked John Mickelson, Co-Founder and Managing Partner at Midwest Growth Partners.

AgriBank Reports Fourth Quarter 2022 and Year-End Financial Results

Retrieved on: 
Thursday, March 2, 2023
Chicago and Northern District Association of Colored Women's Clubs, NFI, AgriBank, Economic Research Service, Projection, Treasury, Farmer, United States Department of the Treasury, ROA, Weather, Farm Credit System, Livestock, Risk management, Investment, Farm Credit System Insurance Corporation, Poultry, Environment, U.S. Department of Defense Strategy for Operating in Cyberspace, Government, USDA, Cryptocurrency, Bank

ST. PAUL, Minn., March 2, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank announced financial results for the fourth quarter and full year of 2022, with strong profitability, credit quality, and liquidity and capital.

Key Points: 
  • ST. PAUL, Minn., March 2, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank announced financial results for the fourth quarter and full year of 2022, with strong profitability, credit quality, and liquidity and capital.
  • Profitability: Net income remained strong at $790.7 million for the year ended December 31, 2022.
  • "AgriBank's strong net income for 2022 reflects the strong financial performance by the Farm Credit lenders we support," said Jeffrey Swanhorst, AgriBank chief executive officer.
  • Total loans were $133.5 billion at December 31, 2022, an increase of $11.5 billion, or 9.4 percent, compared to December 31, 2021.