NIVENS’ NOTES
Greetings from the Board Room:
When I receive a notice that the next HeartBeat is about to be printed,
I start pondering what to include in my part. Each one is printed at
a similar time, so you find yourself in very similar cycles of the year.
The winter issue comes as harvest is winding down or complete. My
definition of complete is pretty general. I still have wheels under the
last beans harvested. There is a list of repairs tacked on the shop wall to
avoid the “forgotten” surprises when spring comes. If it has an engine, it
probably needs the oil changed. Several tires are leaking just a little, or
more than a little, on the equipment I need to use today.
The FCS Financial board deals with similar or cyclical trends. This
James Nivens, Chairman of the Board
time of the cycle finds the association completing tasks for this year
and formulating a business plan for the next. Not a great deal of difference year to year with exception of the
circumstances surrounding us.
At this time last year, there was the unknown of the political changes and the promise of continued low
grain prices. Maybe not a lot of clarity yet on the political front with a new tax bill that will impact both
membership and association. A new farm bill that is hardly started. And still the promise of low grain prices.
The description I heard of milk prices were “that they were balanced on the head of a pin.” Nearly all of the
basic commodities share that balancing act because of the dependence on exports.
Maybe even circumstances don’t change, just the influence of their impact. With many of the same issues
last year, the association will have very admirable results for 2017. Capital position continues to improve. A
patronage distribution is to be made. In the current ag economy, credit quality, delinquencies, and losses are
all better than historical levels and especially better than what had been anticipated. A recent Federal Reserve
report indicated a growing balance of operating debt. Hardly the same with FCS Financial. Comparing the
outstanding balance of operating debt with the commitment that is available, it is lower than what would be
considered normal. Apparently the business ability and cautious nature of our membership doesn’t extend far
beyond the borders of Missouri.
I certainly hope that the favorable results of 2017 for FCS Financial is merely a reflection of our membership.
As an organization that is dedicated to the health and well-being of agriculture and to serving the needs of
Missouri farmers, we can’t do it without you.
Here’s wishing you a Merry Christmas and a safe, prosperous, and Happy New Year.
HEARTBEAT | WINTER 2017 31