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Ag Banking/Rural America - Page 2

Equipped for Retirement

Don’t overlook equipment as an asset

By Mark Stock

As the farming population in the U.S. gets older, more and more farmers are thinking about retiring and what follows. The role of a commercial banker in the retirement process is an invaluable one: Helping their clients plan for retirement. From a farmer’s perspective, the retirement process can seem overwhelming, impacted by personal circumstances. Why are they retiring? How much money do they need to comfortably retire, and what can they do to get the most out of their assets?

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FSA Lending in Hindsight

Two years later, Bank of the Rockies believes becoming a Farm Service Agency Preferred Lender was a huge benefit

By Heather M. Malcolm

A couple of years ago, in the Q2 2017 issue of Ag Banking, I wrote an article about what my bank, Bank of the Rockies in White Sulphur Springs, Mont., went through to gain status as a preferred lender with the USDA, Farm Service Agency. Becoming a Preferred Lender Program lender has been very beneficial for our bank, but there have been a few stumbling blocks.

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Hemp Offers Profit Potential but Also Pitfalls

By Jim Murez

It’s been a rough go lately for the nation’s farmers, with some combination of tariffs, low prices at the farm gate and flooding all impacting their livelihoods. However, one provision in the 2018 Farm Bill offered a glimmer of light for some farmers: Hemp.

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The Newly Legalized Hemp Industry

Opportunities arise for farmers and ag lenders from the 2018 farm bill.

By Whitt Steineker and Jared Batte

Hemp, one of the nation’s oldest and most versatile crops, is poised for a resurgence following the passage of the 2018 farm bill. That legislation codifies the distinction between hemp and marijuana and removes hemp from the scope of the Controlled Substances Act. This should be a welcome development for agricultural lenders — who have largely avoided any association with hemp for decades — as it will allow them to access a now-legal industry that is expected to generate billions of dollars of potential deposits in the next few years.

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Farmonomics: Educating Young Ag Producers Creates Better Customers Down the Road

By Alaina Webster, Managing Editor

“I’m always amazed — a lot of kids come out of college, and they don’t understand balance sheets, income statements, cash flows, sensitivity analyses like they should, and it’s like, you’re going to run a business that depends on that stuff.”

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