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Compeer Financial formed with future in mind
The CEO of a newly-formed Farm Credit organization considers the merging of three successful companies an evolution that addresses the changing needs of agriculture.
Last week, stockholders of Minnesota-based AgStar Financial, Badgerland Financial in Wisconsin, and 1st Farm Credit Services of Illinois voted to approve merging the three farm credit organizations.
AgStar CEO Rod Hebrink will lead the merged organization, Compeer Financial.
He says this change is occurring with the future in mind.
“It isn’t so much about where we are today. It’s about where we are going; where agriculture is going, over the next decade or more. As we continue to evolve to meet the needs of agriculture.”
Hebrink tells Brownfield the merger draws on each organization’s strengths and provides expanded capital for investing in technology.
He says Compeer will certainly recognize the current financial struggles of agriculture as well.
“The diversification of the portfolio is going to position the organization to better weather those kinds of ups and downs in agriculture, while we continue to focus on our strong patronage program for our stockholders.”
Barring any unforeseen stakeholder petitions to reconsider the merger, Hebrink says Compeer Financial will begin operations this July 1st with headquarters in Sun Prairie, Wisconsin.
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