December 1 , 2006
Capital Farm Credit, ACA and Southwest Texas ACA merged in October, forming the largest rural financing institution in Texas.
The resulting organization, known as Capital Farm Credit, ACA, has combined assets of $2.5 billion and a portfolio of more than 14,000 loans to agricultural producers, country home owners, agribusiness firms and other rural landowners across the state.
The merger of the two rural lending institutions, both established in 1917, was approved by a vote of their stockholder-customers in August. Their federal regulator, the Farm Credit Administration, also approved the merger.
"The merger of these two strong financing institutions will be good for our borrowers and good for rural Texas," said Ben Novosad, Capital Farm Credit chief executive officer. "It doubles our geographic territory, increases the diversification in our loan portfolio and combines the various strengths and specialized skills of our staff. As a result, Capital Farm Credit is stronger than ever and better equipped to offer a broader range and greater depth of financial products."
Headquartered in Bryan, Capital Farm Credit now serves a territory covering nearly half of Texas, including many of the state's fastest growing economies.
The association operates 36 branch offices throughout east, central, south and west Texas.
Two Risk Management Agency (RMA)-approved listening sessions in December will allow Texas cotton producers to air their opinions of the APH-based cotton crop insurance program.
"This would be an excellent opportunity for cotton farmers to tell the experts their reasons for carrying or not carrying crop insurance," said Glen Jones, TFB Research and Policy Development director. "It will also give producers a chance to point out problems and offer suggested changes to the cotton crop insurance program."
Coordinated by Sumaria Systems, Inc. for RMA, two listening sessions will be held in Texas.
One will be held Dec. 8 at the Ashmore Inn and SuitesBiltmore Room at 4019 S. Loop 289 in Lubbock.
The other will be held Dec. 11 at the Holiday Inn Corpus ChristiEmerald Beach, 1102 South Shoreline in Corpus Christi.
Two listening sessions will be held at each siteone in the morning from 8:30 to 10 a.m., and another from 1 to 3 p.m.
The morning session is intended for farmers and grower association representatives. The afternoon session is for insurance providers, agents and/or other stakeholders.
For more information contact Dan Sheldon, 1312 Rhode Island NE, Albequerque, NM 87220, phone 505-298-8071, email dfsheldon @com-cast.net.
At the National Association of Farm Broadcasting conference held in Kansas City, Mo., Agriculture Secretary Mike Johanns told attendees the Senate is expected to approve a $4.9 billion agriculture disaster aid bill for the second time as part of the fiscal year 2007 agriculture spending bill.
However, Johanns said the Bush administration can't support it. Johanns made the remarks before knowing the complete details of what took place on the floor. The Senate came to a virtual halt on Nov. 15 over efforts to pass the bill. The conflict shows how difficult it will be for Congress to finish all remaining FY07 spending bills by the end of the year.
The Senate FY07 Agriculture Appropriations bill contains nearly $4 billion in emergency aid to farmers and ranchers. An amendment by Sen. Kent Conrad would have replaced the current language and included almost $4.5 billion to cover additional losses during the 2006 crop year. The amendment would not provide an emergency supplemental direct payment but would target the assistances to only producers who experienced quality or quantity crop losses in 2005 and 2006.
The House bill does not include emergency disaster funding. Therefore, the language would be taken up in conference.
Johanns said the Senate agriculture disaster aid bill would give some producers more money than others if they hadn't had a disaster at all. He said the bill's cost must not be characterized as emergency off-budget spending, but rather within the farm bill provisions.
"The rains have certainly eased things. But we still have tremendous deficits. The ground's still soaking it up. We've got a long way to go."
Dan Huckabee, National Weather Service climatologist, saying the drought in North Texas is far from over. Huckabee said it would take persistent above- average rainfall to break the drought.
Congressman Chet Edwards, D-Waco, visits with Texas Farm Bureau Executive Director Vernie Glasson and Organization Director Joe Maley on a recent stop by the Waco headquarters. In addition to talking shop about the recent elections in which Democrats won control of the House of Representatives for the first time in more than a decade, Edwards offered his insights on the makeup of the Texas Congressional positions on various committees in the House of Representatives.