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AgSouth Farm Credit reports record year-end earnings
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    AgSouth Farm Credit CFO Alisa Gunter recently announced that the customer-owned cooperative had record earnings of $31.18 million during 2006.
    According to Gunter, the association returned more than $28.4 million dollars in patronage and allocated surplus to its customers during 2006 and expects another record return in March of 2007. According to CEO Bill Spigener, since 1991, the association has returned more than $180 million in cash to its customers. Spigener attributes the strength of the cooperative to the commitment of the association’s customers, directors, management and staff.
    AgSouth Farm Credit is one of the largest lending cooperatives in the southeast. Headquartered in Statesboro, the cooperative has 28 offices in 34 South Carolina and 59 Georgia counties.
    As of December 31, 2006, AgSouth had more than 6,700 members; $1.355 billion in assets, and $206.3 million in both capital and allocated accounts.
    AgSouth provides loans for real estate, agriculture and rural homes, and offers leasing for automobiles, equipment, buildings and commercial operations.
    The association also makes secondary home loans through its subsidiary, AgSouth Mortgages. AgSouth Mortgages provides loans for home purchases, home construction, and refinances.
For any questions concerning AgSouth’s financial information, please contact Alisa Gunter at (864) 585-6234 , ext. 237.
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