$56 Million Distributed to AgSouth Members Through Patronage Program

$56 Million Distributed to AgSouth Members Through Patronage Program

Statesville, NC (April 3, 2024) – AgSouth Farm Credit CEO Vance Dalton has announced that the Association’s patronage will be an all-cash distribution of $56 million from AgSouth’s 2023 profits.  This distribution will arrive in members’ mailboxes or bank accounts during April.

“AgSouth’s capital strength, earnings and credit quality all contribute to this distribution. For 36 consecutive years, AgSouth has distributed patronage to members through cash and allocated surplus.  We are proud of this long, strong history of operating under cooperative principles and delivering real value to our members and customers in Georgia, North Carolina, and South Carolina,” Dalton said.

As a cooperative, AgSouth borrowers are stockholders and therefore share in the Association’s profits. This is done through the patronage program and the distribution is voted on by the Board of Directors each year.

About AgSouth:
AgSouth Farm Credit provides loans for land, equipment, and production agriculture; crop insurance; leasing; and home mortgages. The Association serves counties in Georgia, North Carolina, and South Carolina and is headquartered in Statesville, North Carolina. AgSouth is an equal housing lender and an equal opportunity provider.