Proposed Farm Credit organizations merger receives preliminary approval

Three Farm Credit organizations have received preliminary approval of their proposed merger.  The authorization allows Illinois-based 1st Farm Credit Services, Minnesota-based AgStar Financial Services, and Wisconsin-based Badgerland Financial to move forward with the merger.

The merger proposal must be approved by each organization’s voting members.  Each organization will hold a special meeting in early April and if all three organizations vote in favor of the proposed merger, the planned effective date of the merger will be July 1.

The headquarters of the proposed merged organization will be in Sun Prairie, Wisconsin, but no local offices will close as a result of the merger.

Rod Hebrink, the president and CEO for AgStar Financial will lead the proposed merged organization.

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