NIVENS ’ NOTES
Greetings from the Board Room :
I made a six hour plus trip to view the recent eclipse . Later I wondered how cost effective it was to invest that much time in less than 3 minutes of darkness . I readily admit to having planned this for several weeks and don ’ t mean to sound like I have regrets . The eclipse was a different , almost eerie , experience and the time spent with friends made the trip worthwhile . The pasture and weeds that needed mowing when I left were still there when I got home .
I often think I don ’ t get far from home and I suppose “ far ” is a relative term . This summer , I spent a few days in the Farmington and Sainte Genevieve area of the state . Enjoyed seeing the historical sites , visiting with former FCS Financial board members and old friends . I made a trip to the state fair for the FCS Financial customer appreciation day . I ’ ll have to admit , I very much enjoyed the visits with the membership and employees more than the fair itself .
The most recent few days away from home was at an FCS Financial board meeting . The meeting was held in St . Louis and in conjunction with Farm Credit Illinois . After recent mergers within the AgriBank district , FCS Financial and Farm Credit Illinois find ourselves the only similar sized organizations in the district with five associations considerably larger and seven much smaller . The dynamics of the AgriBank governance may well change . An advisory committee of association members is being put together to examine the current AgriBank structure that was designed nearly 30 years ago .
A joint meeting and interaction with another association certainly provides more perspective . It also offers an opportunity to attract speakers and panel members who have a diverse look at the entire Farm Credit System . We heard presentations from the Farm Credit Administration , Farm Credit Council and the Funding Corporation . Each provided their outlook and priorities for the future . There was an opportunity to compare AgriBank with AgFirst funding bank in the eastern side of the country . AgriBank ’ s priority is to simply provide funding to the associations and AgFirst provides a complete menu of services . Four association CEO ’ s representing western North Carolina , central California , and two from the AgriBank district encompassing at least parts of seven states were present . A very diverse group , each adamant that they served their marketplace .
After considering the various perspectives , I came home satisfied with the position of FCS Financial . Earnings and
James Nivens , Chairman of the Board
capital position are strong . Delinquencies are surprising low and credit quality very respectable considering commodity prices . In the fourth year of declining farm income , the association finds itself financially prepared to continue to weather and prosper in the ag economy and help our members do the same . 2017 is again a year better than we anticipated . I think the association ’ s success is enhanced by the caution and ability of our membership to adjust to the dynamics surrounding us . From all indications , the coming year doesn ’ t offer a rebound in farm income . If you see issues on the horizon , don ’ t wait to work with your FCS Financial loan professionals to avoid problems .
Best wishes for a bountiful and safe harvest .
HEARTBEAT | FALL 2017 23
NIVENS’ NOTES
Greetings from the Board Room:
I made a six hour plus trip to
view the recent eclipse. Later I
wondered how cost effective it
was to invest that much time in
less than 3 minutes of darkness. I
readily admit to having planned
this for several weeks and don’t
mean to sound like I have regrets.
The eclipse was a different,
almost eerie, experience and the
time spent with friends made the
trip worthwhile. The pasture and
weeds that needed mowing when
I left were still there when I got
home.
I often think I don’t get
far from home and I suppose
“far” is a relative term. This
summer, I spent a few days in
the Farmington and Sainte
Genevieve area of the state.
Enjoyed seeing the historical
sites, visiting with former FCS
Financial board members and
old friends. I made a trip to the
state fair for the FCS Financial
customer appreciation day.
I’ll have to admit, I very much
enjoyed the visits with the
membership and employees more
than the fair itself.
The most recent few days
away from home was at an FCS
Financial board meeting. The
meeting was held in St. Louis and
in conjunction with Farm Credit
Illinois. After recent mergers
within the AgriBank district,
FCS Financial and Farm Credit
Illinois find ourselves the only
similar sized organizations in
the district with five associations
considerably larger and seven
much smaller. The dynamics
of the AgriBank governance
may well change. An advisory
committee of association
members is being put together to
examine the current AgriBank
structure that was designed
nearly 30 years ago.
A joint meeting and
interaction with another
association certainly provides
more perspective. It also offers
an opportunity to attract
speakers and panel members
who have a diverse look at the
entire Farm Credit System. We
heard presentations from the
Farm Credit Administration,
Farm Credit Council and the
Funding Corporation. Each
provided their outlook and
priorities for the future. There
was an opportunity to compare
AgriBank with AgFirst funding
bank in the eastern side of the
country. AgriBank’s priority is
to simply provide funding to the
associations and AgFirst provides
a complete menu of services. Four
association CEO’s representing
western North Carolina, central
California, and two from the
AgriBank district encompassing
at least parts of seven states were
present. A very diverse group,
each adamant that they served
their marketplace.
After considering the various
perspectives, I came home
satisfied with the position of
FCS Financial. Earnings and
James Nivens, Chairman of the Board
capital positi &R7G&rFVƖVV6W2&R7W'&6prB7&VFBVƗGfW'&W7V7F&R66FW&p6FG&6W2FPfW'FV"bFV6Ɩrf&Ц6RFR766FfG0G6Vbf6ǒ&W&VBF6FVRFvVFW"B&7W FRrV6גBV W"V&W'2FFR6R#r2vV"&WGFW"FvRF6FVBFFP766F( 27V66W722V[email protected]'FR6WFB&ƗGbW V&W'6FFW7BFFPG֖727W'&VFrW2g&ЦF6F2FR6֖rV FW6( BffW"&V&VBf&Ц6RbR6VR77VW2FR&F( BvBFv&vFW"d52f6&fW762FfB&&V2ࠒ&W7Bv6W2f"&VFgVB6fR'fW7BऄT%D$TBd#p#