leader FARM CREDIT OF CENTRAL FLORIDA
A LOOK INSIDE... Wedding Bells and Blueberries: Agritourism’s Perfect Pair Succession Planning Q & A: The Future of Your Family Farm Featuring: T. Mims Corp.
SUMMER 2018
Greetings, I hope you are enjoying the long summer days and fun they bring! Thus far in 2018, we have celebrated the year’s accomplishments and are continuing to anticipate the challenges of the upcoming season. I want to remind you of the importance of optimism and preparation, especially in a season marked by natural disasters. As always, Farm Credit of Central Florida proudly serves as a resource for risk management and financial planning. This edition of Leader reminds us that you are why our Central Florida community and the agriculture industry remain vibrant. Immerse yourself in stories that bolster agriculture’s vital mission, and know that Farm Credit is focused on rural America’s success by being present for all the ups and downs of your agricultural life.
Enjoy,
R E G G I E H O LT
PRESIDENT AND CEO
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LEADER is published quarterly for stockholders, directors and friends of Farm Credit of Central Florida.
PRESIDENT Reginald T. Holt BOARD OF DIRECTORS W. Rex Clonts, Jr., Chairman Keith D. Mixon, Vice Chairman Jenny R. Black C. Dennis Carlton, Sr. John S. Langford Randy L. Larson Dale McClellan David A. Mereness Robert R. Roberson Randall E. Strode Ronald R. Wetherington
INSIDE THIS ISSUE 4
Black, Clonts and Langford Re-Elected to Board of Directors at Annual Meeting
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Wedding Bells and Blueberries: Agritourism’s Perfect Pair
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Succession Planning Q & A: The Future of Your Family Farm
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T. Mims Corp.
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Association News
$4.6 Million Cash Patronage Distribution for 2017
EDITORS Tory Moore, Director of Marketing Hannah Dugger, Marketing Coordinator PUBLISHER AgFirst Farm Credit Bank DESIGNERS Joey Ayer Phereby Derrick Athina Eargle Amanda Simpson Travis Taylor PRINTER Professional Printers
Address changes, questions, comments or requests for copies of our financial reports should be directed to Farm Credit of Central Florida by writing P.O. Box 8009, Lakeland, FL 33802-8009 or calling 863-6824117. Our quarterly financial report can also be obtained on our website: www.FarmCreditCFL.com
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FROM LEFT, JOHN LANGFORD, JENNY BLACK AND W. REX CLONTS JR. WERE RE-ELECTED TO SERVE ON OUR BOARD OF DIRECTORS
BLACK, CLONTS AND LANGFORD RE-ELECTED TO BOARD OF DIRECTORS AT ANNUAL MEETING On April 10, Jenny R. Black, W. Rex Clonts Jr. and John S. Langford were re-elected by Farm Credit of Central Florida stockholders to serve a three-year term on the Board of Directors.
CROWD MINGLING BEFORE THE MEETING
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Each year, Farm Credit of Central Florida conducts a business meeting that is designed to provide Association updates and allow eligible stockholders to vote for the individuals they wish to serve on the
HUGH BEVIS, WINNER OF THIS YEAR’S COVETED DOOR PRIZE, A BIG GREEN EGG
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Membership participation in your cooperative is very important. Farm Credit of Central Florida takes pleasure in empowering the relationships that made 2017 a strong year for growth.
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PRESIDENT AND CEO REGGIE HOLT
REGGIE HOLT, PRESIDENT AND CEO, ADDRESSES ANNUAL MEETING ATTENDEES
Farm Credit of Central Florida Board of Directors and the Nominating Committee. Speaking to the success of the previous year, CEO Reggie Holt said, “Membership participation in your cooperative is very important. Farm Credit of Central Florida takes pleasure in empowering the relationships that made 2017 a strong year for growth.” Stockholders re-elected directors Jenny R. Black, W. Rex Clonts Jr. and John S. Langford to serve another term until April 2021. Harold Ray Clark, William C. Braswell and Kyle R. Story were elected to serve on the 2019 Nominating Committee. H. Paul Bellinger and Brian L. Shoop are alternates. This year, 149 people were in attendance, including eligible voting stockholders and their family members, government officials, industry leaders and FFA members. Thank you to all the attendees; we look forward to seeing you next year!
W. REX CLONTS JR.
KEITH D. MIXON
Clonts Appointed as Chairman, Mixon Appointed as Vice-Chairman of Farm Credit of Central Florida’s Board of Directors W. Rex Clonts Jr. was appointed chairman and Keith Mixon was appointed vice-chairman of Farm Credit of Central Florida’s (FCCF) board of directors on May 1, 2018. Clonts is a citrus grower with 500 acres of citrus production in Lake County. He has served on the board of directors since 1997. “Mr. Clonts is a third-generation board member, and we look forward to leveraging that experience in his new role,” said Reggie Holt, President and CEO of Farm Credit of Central Florida. “He has witnessed years of change in the Association and agriculture industry, which gives him valuable wisdom and foresight.” Mixon is a blueberry grower from Winter Haven, and his family are pioneers in the industry. “The Association will benefit under the guidance of our new board leadership,” said Holt. “Mr. Mixon’s business and industry experience is a valuable asset to our Association.” Farm Credit of Central Florida is a memberowned cooperative serving 13 Central Florida counties, including, Polk, Hillsborough, Pinellas, Citrus, Hernando, Pasco, Sumter, Lake, Seminole, Orange, Osceola, Volusia and Brevard. Part of the nationwide Farm Credit System established in 1916, Farm Credit of Central Florida provides loans, leases and crop insurance to farmers, ranchers, growers and rural homeowners.
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DONNA MILLER, OWNER OF D & J FARMS AND INDIGO HARVEST EVENTS
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WEDDING BELLS AND BLUEBERRIES: AGRITOURISM’S PERFECT PAIR Indigo Harvest’s story starts in 1975 when Donna Miller’s parents, Don and Janice Goldberg, purchased 17 acres in Inverness, Florida as a family getaway. A beautiful home built the next year, an acre and a half family garden and surrounded by the Florida forests, the family would spend time at the getaway during the summers and the winter. Never did Donna Miller, D&J Farms and Indigo Harvest owner think that four decades later I think God planted the the family vacation spot would seed of desire to own a one day become home to an organic blueberry farm and blueberry farm because wedding venue. otherwise I wouldn’t “My dad taught my have conceived of it. nephews, his grandsons, how to hunt here,” Donna said. “There have been a lot of memories made here.” DONNA MILLER In 1992, the family bought the property next door and built a barn to store equipment. This barn would later be converted to D&J Farms packing facility and then, even later, the Indigo Harvest Events wedding venue. “I had my daughter in 1996, and wanted to do something different than the corporate, hospital setting,” Donna said. “When she was just born, I took her to a farm around to pick blueberries. After talking with the worker at the gate, she insisted that I join the owners of the farm for tea instead of taking a newborn out into the field. I sat on the porch with the owners and, before I knew it, they were trying to sell me their farm! I was in no position to own a farm. I
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didn’t know anything about farming blueberries, but they were not going to take no for an answer.” “I think God planted the seed of desire to own a blueberry farm because otherwise I wouldn’t even conceive of it,” Donna said. But once the wheels were turning, Donna chased down the dream. “I went to the extension office and spoke to a wonderful man named Andy Rose. He gave me a lot of encouragement and said there were not many blueberries grown in Florida commercially. He put me in touch with another operation where I learned a lot about the growing needs of the plant.” Donna then volunteered at the farm in exchange for the farm owner to teach her best management practices on the weekends. “My dad was very hesitant. I had my master’s degree in health care administration and my RN,” she said. “He kept telling me I could never make what I would in that field.” But on one Mother’s Day, Donna’s father planted 17 blueberry plants as a gift to her. “He told me these were all the blueberry plants I could ever eat. I replied with, ‘This is great but not
ORGANIC BLUEBERRY FIELDS AT D & J FARMS
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DONNA MILLER AND FARM MANAGER MARTIN
what I was meant to do.’ I really wanted a farm and I could not make it go away. So I purchased my first 300 blueberry plants and my mom and dad went with me to pick them up,” she said. “While we were loading the plants into the trailer, my parents looked at me with this really funny smile and my dad said, ‘You’re gonna do this,’ and I said, ‘Yeah, Dad, I am.’ Then he asked, ‘Do you want some partners?’ And they became my partners,” she said. Hence the name, D&J Farms. D&J stands for Donna, her parents Donald Janice and Donna’s daughter Jacqueline. Those first 300 plants were planted right there in the yard. Later on, Donna purchased the property to
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Converting the plants to organic was like taking someone on a meat and potatoes diet and only feeding them soup and salad.
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DONNA MILLER
the west and continued to expand the operation as neighboring properties became available. What started as two acres is now a 40 acre operation with 22 acres of organic blueberries on the home site, D&J Farms leases eight acres around the corner and has 10 additional acres in Floral City. Three years ago, the blueberry plants had reached their peak and the farm began to replace the bushes. Donna started researching about organic practices, water
quality and soil health. She did not know much at first so she continued her research, took classes, and decided she wanted to convert the rest of the farm to an organic operation in 2009. Over the next three years, D&J migrated from a conventional to organic farm. Donna recounts some of the trials and tribulations of the conversion. “Converting the plants was like taking someone on a meat and potatoes diet and only feeding them soup and salad,” she said. “We anticipated somewhat reduced production, but it was a lot harder than we thought.” D&J Farms has worked with the University of Florida to develop several varieties they have exclusive rights to and still produce today on their exclusively organic farm. Varieties including Jacque, Martin and Diana and Don, all named after family and friends of the farm. While the blueberry farm is the primary business, in the summer of 2016 the family barn began its transformation into a wedding venue.
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They walk right around the back of the property where they can see the Withlacoochee River and enjoy just being on the farm. People really love it.
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DONNA MILLER INDIGO HARVEST WEDDING VENUE
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The wedding venue adventure began with Donna’s nephew insisting that he be married under a large oak on the property. “When I asked him why he was so determined, he pointed to the oak tree over there,” Donna said. “He said, ‘My mom used to swing me in that tire swing and I want to be married here because this is where she is.’” And thus began Indigo Harvest Events. The family cleaned out and painted the barn, added drapery, updated the flooring and added a beautiful chandelier. Her nephew’s wedding was the first on the property on March 4, 2017. Donna did not plan on booking any events that season because it was harvest, but later attended a bridal show and has been booking weddings and corporate events since. “People are blown away when they come out and see old Florida,” Donna said. “They walk right around the back of the property where they can see
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indigoharvestevents.com @indigoharvestevents @indigoharvestevents Indigo Harvest Events
the Withlacoochee River and enjoy just being on the farm. People really love it.” Growing sweet, Florida blueberries is now a tradition for Donna Miller’s family, and adding a wedding venue to their already gorgeous farm is an excellent way to continue that agricultural tradition for years to come.
RANDALL STRODE, PRESIDENT OF AGRI-STARTS, WITH HIS SON, BUSINESS SUCCESSOR AND VICE PRESIDENT, TY STRODE
SUCCESSION PLANNING Q & A: The Future of Your Family Farm
A well-maintained succession plan is vital to business continuity and sustainability. With the inherent volatility of agriculture, it’s never too early to create a succession plan. Perusing articles about “Succession Planning 101” is an excellent place to start when preparing your succession plan. Perhaps less discussed are the emotions behind creating a succession plan, which are just as important as the advice that a financial planner or legal counsel can provide. A conversation with Randy Strode and Dale McClellan, two Farm Credit board members and agribusiness owners, about their respective succession plans yielded plenty of advice and the acknowledgement of the emotions that come with
creating a succession plan to ensure the future of a family business. Randy is the owner and president of Apopkabased Agri-Starts, a leading supplier of plant tissue culture starter plants and services. Randy’s son, Ty, is Vice President and Marketing Director of the company, and the successor of Agri-Starts. Dale McClellan is the owner of Tampa-based M & B Dairy Products. One of the business concepts was to create a modern, environmentally sound dairy farm. His sons, Leon and Daniel, manage the farm in Lecanto and processing plant respectively, and Daniel’s wife, Andrea, manages all administration and office tasks. They are the successors of M & B Dairy Products. CONTINUED ON NEXT PAGE LEADER • SUMMER 2018
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ANDREA, LEON AND DANIEL MCCLELLAN, SUCCESSORS OF M & B PRODUCTS
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role does your family play in Q: What day-to-day operation? Randy, Agri-Starts: When we started, all three of my sons pulled weeds, and Vicki did office work. When we built our new lab, the entire family helped with electrical work. As years progressed, my middle son moved to Portland, Oregon to do carpentry work, and Vicki stopped doing office work when we Q: hired our administrative assistant, Teri Goode. My son, Ty, showed an interest in the business and joined the company about 15 years ago, doing odd jobs like delivering plants and unfreezing my computer. Since then, he has really embraced the company. He hired a terrific staff, and it’s obvious that he should be the beneficiary of my succession plan. Dale, M & B Dairy Products: I’m the owner and president, but I play an advisory role to my two sons and my daughter-in-law. Leon is the farm manager, and oversees all operations and employees on our farm in Lecanto. Daniel manages our Tampa
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processing plant, where he oversees production, shipping and maintenance. Daniel’s wife, Andrea, also works at the plant managing the office, accounts receivable and payable, administrative staff, distribution and sales. All three had to start from the bottom and work their way up, as it was very important that they learn the business as a whole.
How did you approach creating a succession plan? Randy: When I was in my 40s and 50s, succession planning wasn’t on my mind. Then Ty joined the company, and after about five years, he developed a passion for the business. If Ty didn’t show interest in the company, the solution was going to be selling the business. So in 2010, when the market was at a low point, I hired an attorney to gift Ty as much as the company that was legally possible at the time. But overall, my succession planning happened naturally; we planned as we needed. Just as the growth of the company was overwhelming, Ty took initiative to mitigate that load.
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When creating your succession plan, it’s important that the key players fulfill their roles and not just hold a title.
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ANDREA MCCLELLAN
Dale: There are several factors one doesn’t anticipate when creating a succession plan for a business. When you’re young, you think you’ll live forever, and you don’t know if your children will want to be involved. But it’s important to keep the conversation open. I’m preparing my children to run this company. We would talk about questions like, “If I got sick, could you do this? Would you want to?”
resources helped you during the Q: What succession planning process? Randy: We hired an attorney who knew the ins-and-outs of estate planning. It’s very essential that they know the rules and regulations when it comes to transferring shares or ownership. I also immersed myself in articles in trade journals about the process. Dale: The law firm we used has worked with my family for more than 70 years. It’s important to trust your legal counsel. Our preparation evolved throughout the years, but there’s always a plan in place in case something happened. My plan is also formed largely around the roles my successors play. Andrea, M & B Products: When creating your succession plan, it’s important that the key players fulfill their roles and not just hold a title. The three of us had to start at the bottom and work our way up, but we know our roles so well.
creating your plan, what Q: When challenges did you face? Randy: So far, I’ve dealt with guilt about not working 10-12 hours a day. It’s an adjustment.
DALE MCCLELLAN, OWNER OF M & B PRODUCTS
Ty, Agri-Starts: My dad and I have different skillsets that complement each other, and with him working less, I’ve had to compensate in the areas for which I didn’t have an affinity. Dale: My role has changed significantly, due to the plan. I used to run this entire operation, but now I advise Leon, Daniel and Andrea. Communicating my knowledge to someone much younger brings a specific challenge to planning. Patience remains a challenge. I didn’t have a master plan, instead I threw my kids in the mix to see how they would adjust and grow.
would you tell someone with Q: What the succession planning process on the horizon?
Randy: Consult an estate planner, attorney or someone who is well-versed in the rules and laws. Keeping an open channel of communication between you and your successor is also important. CONTINUED ON NEXT PAGE LEADER • SUMMER 2018
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The culture of the company needs to be understood by the successor.
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agristarts.com @agri.starts
RANDY STRODE
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mbproducts.com
Dale: Make sure your successors understand your company. There’s solace in knowing my successors have passion for the company because I didn’t allow them to work here when they were young.
@M & B Products
Andrea: Understand where everyone’s strengths lie. Daniel, M & B Products: Be patient when learning the company.
set it and forget it. Constantly revisit the plan and make sure everything is up to date.
Q: When the time comes for you to build
Q: What lessons have you learned? Randy: The culture of the company needs to be understood by the successor. Ty is more cerebral, while I prefer a tactile way of working. I coached Ty’s soccer team for about a decade, and we developed a bond and understanding because of the time we spent together. There’s a mutual respect for skills I posses and he doesn’t, and vice versa.
Ty: I know to make a thorough plan and then see how reality aligns and adjust accordingly. This is the first transfer and generational change we’ve had in our family, so it’s my chance to learn.
Dale: Always be prepared. A few years ago, I got prostate cancer. I’m fine now, but it really opened my eyes to the reality and necessity of a succession plan.
Daniel: Grow at a nice and healthy pace to ensure a successful future succession plan.
Daniel: Approach the creation of the plan pragmatically. Not doing so changes the logic and how the family thinks. It ultimately complicates the entire situation. I keep business and family separate.
From the successors: a secondary role of an outside Q: Playing observer, what lessons did you learn from creating this plan?
Ty: We’ve met with corporate attorneys and everything is on paper, but every year the plan changes. So don’t
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a succession plan, what will you keep in mind?
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Leon, M & B Products: It’s hard to anticipate growth. I would love to double herd size, but it’s so hard to plan for that.
Creating an effective succession plan for your business or farm reaches far beyond a simple checklist. Successors must be identified, conversations need to happen and channels of communication should be open between the business owner and their beneficiary. As Ty Strode said, don’t “set it and forget it.” Revisit and update your succession plan as your business evolves. A succession plan may look different from one farm family to another, but it’s important to have a plan. Farm Credit recommends consulting an attorney as your first step to securing your business for the future.
SAVE THE DATE! ★★★★★★★★★★★★★★★★★★★★★★
Formal invitation to come. For more information, please contact Tory Moore at marketing@farmcreditcfl.com FARM CREDIT AND AG COMMUNICATORS OF FLORIDA ★★★★★★★★★★★★★★★★★★★★★★★★★★★★★
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Thursday, October 4 11:30 a.m.
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WHERE ★ ★ ★
Orange County Convention Center Orlando, Florida
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TOM MIMS AND HIS SON, PATRICK
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T. MIMS CORP. Tom Mims discovered his penchant for entrepreneurship at the tender age of 23. After graduating with a bachelor’s degree in accounting from the University of Florida and working for a CPA firm, he realized his desire for the autonomy of selfemployment. He therefore founded T. Mims Corp. What is now 18 different Limited Liability Companies managed by T. Mims Corp. began as Mims buying and repairing homes for resale. As Mims’ ventures progressed, the company expanded into several other industries and businesses. These endeavors include a cattle and haying operation called Mims Ranch, LLC, sand mining operations called Florida Sand and Fill, LLC and property management, Don’t be in debt to financing and real estate the extent that you’re called the Mims Group, LLC. losing sleep every The remaining businesses are involved in construction, night, worrying about real estate brokerage how you’re going to pay and the management of it off. Life is too short to over 10,000 acres. In the midst of sizeable company worry about that. growth, Mims also obtained his master’s degree in accounting from Florida Southern College. TOM MIMS Twenty years ago, Mims bought his first orange grove, which was later converted into a development project. At the same time, he acquired large tracts of land that led him into the cattle business. “At the time, I had no experience in either of these businesses, but I spent a lot of time learning them and understanding the intricacies of both industries,” said Mims. His tenacity, business skills, an effective business model, a willingness to learn from others and a commitment to community have served his business well.
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“We attempt to position ourselves for economic downturns, understanding they are simply part of business cycles,” said Mims. “Our company doesn’t pursue highly leveraged ventures, and we focus on opportunities that are conducive to internal funding. Over-leveraging is a death sentence for most businesses over time, since it’s difficult to predict when the economy will slide into a recession. We focus on a strong business model that helps us take advantage of market in any condition.” T. Mims Corp. is flexible in searching for ways to progress their business as cycles change. The company still faces its share of challenges despite its calculative planning. “Most challenges in my business are overcome by persistence, hard work and determination,” said Mims. “I certainly have put in my fair share of long hours.” T. Mims Corp. is an influential company, but that doesn’t stop Mims from continuing to learn about his business. “My late father-in-law told me that if you turn over enough rocks, you will eventually find gold,” said Mims. “However, he ended the adage by warning the minute you ‘bet the farm’ and lose, you won’t have any capital left to turn over rocks. I took this advice to
TOM MIMS’S CATTLE RANCH
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tmimscorp.com @timimscorp @T. Mims Corp.
heart from the beginning and avoided it at all costs.” With extensive experience in the business, Mims has plenty of advice to anyone with entrepreneurial aspirations. “Work hard and eradicate or minimize your debt so it’s manageable,” he said. “Don’t be in debt to the extent that you’re losing sleep every night worrying about how you’re going to pay it off. Life is too short to worry about that.” Tom Mims is very passionate about his work and sees the benefit of loving what you do. “People spend more time working than almost anything else, so it’s important to love what you do,” he explained. “I love all aspects of my work, from working on the ranch, building new developments
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If you find the job you love, you’ll find success and fulfillment. Success is much more complex than simply monetary success. To me, it’s happiness. It makes quality time with family and friends so much better.
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TOM MIMS TOM MIMS’S CATTLE RANCH
to compiling a project. If you find the job you love, you’ll find success and fulfillment. Success is much more complex than simply monetary success. To me, it’s happiness. It makes quality time with family and friends so much better.” Family is paramount to Mims, and ultimately, the reason he pursues so many opportunities. “My parents have been great role models,” he said.
Recently, Tom’s son, Patrick, began working with T. Mims Corp. after graduating from the University of Florida with a master’s degree in international business. “Nothing is more important than family. Family is what’s with you at the end of a long, challenging day,” said Mims. “The real rewards are at home.”
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CROP INSURANCE: THE SAFETY NET YOU NEED Patronage: Crop Insurance customers are members of a cooperative. This allows us to pay patronage dividends (profit sharing) to our eligible customers on their crop insurance policy. Coverage for your agribusiness loans: Crop insurance lowers production risks and helps protects against catastrophic losses. Confidentiality: Your confidentiality is of the upmost importance. With our top-of-the-line cybersecurity, your private information remains secure. Expertise in Agricultural Risk Management: Simply put, we know agriculture. Our in-depth working knowledge of your operation allows us to craft an accurate policy that optimizes your risk protection.
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Upcoming closing dates! • Nov. 15: Pasture, Rangeland and Forage • Nov. 15: Apiary • Nov. 20: Blueberries
Contact us today! Speak with your loan officer, or call Jennifer Parrish at 863.904.3182.
Certain limitations, conditions and exclusions apply. Please refer to the policy for more details.
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Our board is comprised of local farmers, growers and business professionals. Sending money back into the local economy remains at the forefront of our minds as a cooperative.
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PRESIDENT AND CEO REGGIE HOLT
$4.6 MILLION CASH PATRONAGE DISTRIBUTION FOR 2017 Farm Credit of Central Florida’s Board of Directors recently declared $4.6 million in patronage dividends to qualified borrowers of the agricultural lending cooperatives throughout the 13-county territory. “There are several benefits of cash patronage that reach beyond our members’ wallets,” said Farm Credit of Central Florida CEO Reginald Holt. “It creates an understanding between their investment in Farm Credit and the benefits of membership in our unique cooperative.” Every year, the Association’s Board of Directors reviews the cooperatives’ financial position and determines the amount of patronage that can be distributed to its members. Since 1988, Farm Credit of Central Florida has declared patronage refunds exceeding $161 million. “When our members do well, we do well and our profits are returned directly into the communities we serve,” said Holt. “Our board is comprised of local farmers, growers and business professionals. Sending money back into the local economy remains at the forefront of our minds as a cooperative.” The obligation to pay patronage is established by the Association’s bylaws and board resolutions.
Five-Year History of Cash Patronage Refunds 4.6
$
4.3
$
4.0
$
3.5
$
3.2
$
2013 2014 2015
2016
2017
*Dollar amounts in millions
Distributions are made only if capital requirements are achieved. Only eligible borrowers can participate in the Patronage Refunds Program.
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ASSOCIATION NEWS
BOARD MEMBER MCCLELLAN WINS INAUGURAL “MOST VALUABLE PROMOTER” AWARD Congratulations to board member Dale McClellan on winning the inaugural “Most Valuable Promoter” award! This initiative was introduced to recognize the efforts of our dedicated board of directors to fulfill our mission of being a reliable source of credit for rural America. Due to McClellan’s commitment, the award will bear his name. Every year, the most deserving board member will have their name added to the plaque displayed in our board conference room. We appreciate all you do for our Association, Dale!
FLORIDA AGRICULTURE LITERACY DAY
GAYLE YANES READS TO STUDENTS AT CORK ELEMENTARY ON FLORIDA AGRICULTURE LITERACY DAY.
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Farm Credit of Central Florida employees Donna Sorhaindo-Norris, Glenda Tomlinson and Gayle Yanes read to more than 200 elementary students across central Florida in May to celebrate Agriculture Literacy Day. Ag Literacy Day gives farmers, ranchers, FFA teachers and students and anyone involved in the agricultural industry an opportunity to visit elementary classrooms and educate students on agriculture. This year’s book, “Drive Through Florida: Fruits,” highlights Florida’s diverse fruit production.
ASSOCIATION NEWS
NEW HIRES Kerrie Dubberly Kerrie joined the Farm Credit family as the commercial loan servicing coordinator in January of 2018. Prior to working at Farm Credit Kerrie obtained a bachelor’s degree in food resource economics and a master’s degree in agribusiness from the University of Florida. While there, she served on the executive board for Sigma Alpha Professional Agricultural Sorority and made the dean’s list every year. Kerrie was born and raised in Archer, Fla., and enjoys fishing, being outdoors, playing with her Australian Shepherd puppy and cheering on the Florida Gators football team. While in college, Kerrie spent a semester studying in Italy learning about food production and consumption. She loves to binge watch “Fixer Upper” and has Alan Jackson and Chris Stapleton on repeat.
Andrea Edmond Andrea joined Farm Credit as an Apopka-based loan processor in February 2018. Before Farm Credit, Andrea worked for a residential home builder as a loan processor and junior underwriter. She is currently finishing her associate’s in accounting and will soon begin an accounting and finance bachelor’s program at University of Central Florida. Her proudest accomplishments are being the mother of a 16-year-old daughter, a great cook and a pet mom to her cat, Nala, and her dog, Ghost. She loves doing yoga with her daughter and cheering her on at her high school dance competitions and events. Andrea spends her spare time relaxing at the beach and canoeing on the lake with her family. She’s an avid foodie and loves perusing thrift shops.
Sharon Gay Sharon joined Farm Credit in April 2018 as a commercial loan processor. She is a Polk County native, born and raised in Bartow. She moved to Lakeland in 1990. Before joining Farm Credit, Sharon worked as a title agent and real estate paralegal for over 30 years. She is deeply proud of her daughter, who she describes as beautiful, smart and very talented. Sharon loves to spend her free time traveling and exploring new places.
Shannon Fry Shannon joined our Farm Credit family as a marketing intern in May 2018. She is from Brooksville, Fla., and will graduate with a bachelor’s degree in agricultural education and communication from the University of Florida in December. Her involvement at the University of Florida includes being a College of Agriculture and Life Sciences (CALS) Ambassador, the CALS Leadership Institute, Agricultural Communicators of Tomorrow, Sigma Alpha professional sorority, being a LifeSouth volunteer as well as a Gainesville Community Ministry Marketing and Publicity Intern. Shannon is passionate about traveling. Some of her favorite spots are San Francisco, Belize and Chile. In her spare time, she enjoys binge watching “The Office” and “Grey’s Anatomy” on Netflix and creating Pinterest crafts and recipes.
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ASSOCIATION NEWS
EMPLOYEE ANNIVERSARIES
2018 STAFF AWARDS
1 Year
5 Years
15 Years
Susan Hays Kelsey Hobbs Cynthia Falk Kerri Kilby
Marta Vega Jason Williams
Lisa Tackett
Farm Credit of Central Florida strives to attract, motivate and reward a high-performing and diverse workforce. Congratulations to these outstanding staff members for their achievements.
Anniversaries are recorded as of August 17, 2018
Outstanding Team Special Assets Management Team James Lewis and Alyssa Weaver
Outstanding Lender
Chris Witmer
Outstanding Service Janet Harrison
THE LEADER RIGHT IN YOUR INBOX! Get instant access and stay up to date with Association and industry news, stories and events by having the Leader magazine delivered to your email inbox. To sign up for electronic access, visit farmcreditcfl.com/leader.
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LEADER • SUMMER 2018
ASSOCIATION NEWS
You’re FARMER STRONG with Farm Credit For over a century, Farm Credit has celebrated the strength and commitment of our local farmers, ranchers and growers. No other lender has the clear understanding of agriculture or the passion to serve like Farm Credit. You owe it to yourself to work with a lender who understands your business. Visit farmcreditcfl.com/farmer to claim your Farmer Strong bumper sticker and to contact your loan officer so they can help you realize your dreams!
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WHAT IS FARM CREDIT EXPRESS? Farm Credit EXPRESS is a competitively priced equipment financing program supported by Farm Credit and available at your local dealer. Financing is available for farm equipment, irrigation systems, and equine and commodity trailers. Why Farm Credit EXPRESS? • Easy, on-the-spot financing • Cash discounts from the manufacturer for new equipment • Used equipment programs • Decisions within minutes • Fixed-rate loan products • Leasing options • Service and support from a local lender • The opportunity to share in our profit-sharing patronage program
To find a dealer near you, visit farmcreditexpress.com
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LEADER • SUMMER 2018
PASTURE, RANGELAND AND FORAGE (PRF): INSURANCE FOR HAYING AND GRAZING LAND Forage losses from natural hazards, especially drought, are frequent. PRF Insurance is an excellent tool producers can use to provide income that offsets loss of forage and grazing due to dry conditions. Insurance coverage under the Rainfall Index Program is for a single peril — lack of rainfall. Pure and simple, when you purchase a percentage of normal rainfall (expected grid index) for a two-month interval in the specified grid where your ranch or farm is located, and when rainfall for the grid and interval is below that coverage level, you get paid. Rainfall data is collected daily by National Oceanic and Atmospheric Administration (NOAA), and data dates back as far as 1948.
Why Farm Credit of Central Florida? Farm Credit of Central Florida provides insight, information and risk solutions that are tailored to fit your farming and ranching needs. Our experienced agents provide you with information specific to the historical rainfall for your operation and walk you through a range of customization options for your PRF policy in order to meet your risk objectives. Our crop insurance customers are members of cooperative, meaning eligible customers receive patronage dividends on our commission — a benefit not offered by regular insurance companies. Patronage dividends could help lower the cost of your premium, in turn making for an even more affordable risk management tool.
Features of PRF Rainfall Index
• Government subsidizes 51% to 59% of the premium, making it more affordable. • Coverage is based on the experience of the entire grid where your farm or ranch is located. • Must select at least two, two-month time periods (Index Intervals) where rain is important to your operation or shows the highest return on investment. • Indemnity payments are made after an interval closes if a loss is incurred. No adjusters needed. Claims are paid automatically based on data from NOAA. • Production reporting, record keeping, or loss adjustments not required. • Not required to insure all of your acres. • Sales closing date is November 15th. Insurance period begins January 1st and ends December 31st. Billing Date is September 1st.
To be insurable, the acreage must: • Be established acreage for perennial forage. • Be intended for grazing by livestock or for haying. • Be suitable for grazing by livestock or for haying. • Be planted before July 1st the year prior to coverage starting.
Additional Need-to-Knows: • Overseeding into existing forage crops is acceptable. • The program covers all types of grazing and haying forage. • Annually planted forage must be insured with an Annual Forage Insurance Plan
• Two types of crops are insurable under the PRF Rainfall Index Policy: grazing land and hay land.
Additional details can be found on the USDA RMA Fact Sheet at rma.usda.gov/pubs/rme/prfinsprog.pdf.
• Choose to insure grazing land, hay land or both. You aren’t required to insure 100% of each crop type(s), and can select different coverage levels and productivity factors for each type.
The obligation to pay patronage is established by the Association’s bylaws and board resolutions. Distributions are made only if capital requirements are achieved. Only eligible borrowers can participate in the Patronage Refunds Program.
• Elect to cover 90%, 85%, 80%, 75% or 70% of normal rainfall (Coverage Level).
Certain limitations, conditions, and exclusions apply. Please refer to the policy for more details.
• Select between 60% and 150% multiplier of the established value of hay land or grazing land in your county (Productivity Factor).
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Farm Credit of Central Florida P.O. Box 8009 Lakeland, FL 33802-8009
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LEADER • SUMMER 2018
PRSRT STD U.S. POSTAGE
PAID
COLUMBIA SC PERMIT 1160