WINTER 2017 OKLAHOMA AGCREDIT. In This Issue 2...Scholarship Winners 6...Country Home Loans 10.. Appraisers Know the Country

Transcription

1 WINTER 2017 OKLAHOMA AGCREDIT In This Issue 2...Scholarship Winners 6...Country Home Loans 10.. Appraisers Know the Country

2 Everyone involved in agriculture knows that nearly all agricultural commodities are cyclical in nature. High prices cause overproduction, which cause prices to decline. In turn, production is reduced and prices go back up. We have all lived with this cyclical phenomenon throughout our agricultural lives but seldom have we seen a time when nearly all agricultural commodities are down at the same time, like we are seeing now. Down, down, down The down side of the cattle cycle has been postponed for several years due to droughts in different areas of the country. It finally raised its ugly head in 2015 and has caused a historically large percentage drop in cattle prices. At the same time, grain prices declined due to oversupply, again by historically large percentages. To add insult to injury, oil prices declined by historically large percentage declines. Many of our customers are experiencing operating losses due to these price declines and some loans are starting to show deterioration. Many in the agricultural industry are trying to tie these times with the Ag Crisis of the 1980s. While I don t think we are about to relive the 1980s, we can take several examples from that time period to lessen the impact of this downturn in agriculture. When down means up Downcycles create opportunities for those who are looking and who have the courage to act. The downturn in cattle prices allowed those who were ready to purchase stockers earlier this fall for very desirable prices. Many of our wheat farmers are planting less wheat acres and more canola acres. Many of our corn farmers are planting less corn acres and more soybean acres. Some grain farmers are even leaving some of their acres unplanted. Many who haven t done so in the past are starting to Surviving a Downcycle in Agriculture By Butch McComas CEO of Oklahoma AgCredit PRESIDENT S PERSPECTIVE use different price protection strategies to lock-in profits or breakevens. Risk management will be essential to the successful farmer or rancher in the coming few years. The cattle cycle is not expected to turn higher until the time period. Grains similarly won t reverse their price decline until a weather disaster somewhere in the world or increased demand causes this mountain of grain to be eaten up. Price protection strategies through hedging, forward contracts and revenue insurance will be important tools for each producer to utilize. Crop insurance is a risk management tool that every farmer should be using in times of good or bad prices. Commitment in good times and bad Oklahoma AgCredit is committed to financing agriculture in good times and in bad times. We are a single industry lender. We can t exit agricultural lending when downcycles make ag production unprofitable and we don t want to either. The merger we completed a year ago enhanced our risk bearing ability through increased capital, diversification of our loan portfolio through commodities and through geography, increased efficiency and increased lending expertise. If a borrower is experiencing financial difficulty, we will sit down with the borrower to determine the problem and try to work out a solution. As long as the operation can reasonably project to repay its debt, we have several options available to work with the borrower in order to get through the tough financial times. The key to working through a difficult financial downturn is to communicate with your lender. One of the most difficult things for a borrower to do while having financial problems is to talk about those problems. It is imperative that you communicate with us so we can OKLAHOMA AgCredit HEADQUARTER OFFICE 601 E Kenosha...Broken Arrow OK toll free CONTACT POINTS PER BRANCH Full details at OkAgCredit.com ARDMORE N Rockford Rd BROKEN ARROW E Kenosha St OKEMAH, OKMULGEE, SKIATOOK CHICKASHA W Choctaw Ave DUNCAN S Hwy DURANT W Main ATOKA, TISHOMINGO ENID Chisholm Trail IDABEL SE Washington St, Ste B KINGFISHER US Hwy EL RENO MCALESTER S George Nigh Expy HOLDENVILLE, STIGLER, TALIHINA MUSKOGEE W Shawnee Bypass STILWELL PAULS VALLEY W Paul PAWHUSKA Leahy Ave POTEAU State Hwy SHAWNEE N Kickapoo, Ste B STILLWATER S Western BLACKWELL, CHANDLER, DRUMRIGHT, TONKAWA VINITA W Dwain Willis Ave BARTLESVILLE, JAY, MIAMI, PRYOR WATONGA N Clarence Nash Blvd AgDirect...agdirect.com OKLAHOMA AG CREDIT

3 PRESIDENT S PERSPECTIVE BOARD OF DIRECTORS Gary Bledsoe...Lincoln County Dan Childs...Johnston County Larry Cochran...Alfalfa County Verl Daugherty... Caddo County Bob Eubanks...Craig County Jim Freeny... McCurtain County Jay Grace... Jefferson County Paul Heath... Blaine County Jimmie Jarrell... Garvin County Brian Knowles... Haskell County Bob Loudermilk...Muskogee County Kenneth Markes... Garfield County Roger Moore...Mayes County Brad Scott... Jefferson County Kevin Smith...Major County Jay Stinnett... Cherokee County Appointed Directors Ross Love R. Dale McDaniel Dick Smart Volume 2, Issue 2 President s Perspective, cont. work out a feasible plan to restore profitability. If we don t have communication with our financially stressed customers, it is impossible for us to work with them. Good times aren t over for good That s not just a verse from an old Merle Haggard song, it s really what I believe. Just when it seems the cattle market can t go up, we will liquidate enough cows, supply will decline and prices will increase. Just when it seems we can t eat through the mountain of grain we have produced, a weather event will occur, demand will go up and the mountain will get eaten and prices will increase. Agriculture s balance sheet is much stronger now than it was in the 1980s. During the five years prior to this downturn, profitability in grains and in livestock were at record highs. Many of our customers retained a large portion of those earnings and now have increased risk bearing ability. We will get through this storm and come out the other side stronger, wiser, better managers because of it. Oklahoma s farmers and ranchers are resilient and Oklahoma AgCredit is proud to be associated with Oklahoma agriculture. Below Five Zero By Patrick Zeka COO / CFO / EVP of Oklahoma AgCredit During difficult economic times, an agricultural producer will look for ways to make his/her operation more efficient by re-examining incoming and outgoing cash flows. A financial institution is no different. In an effort to become more efficient ourselves, your Association launched Below Five Zero, an initiative to drive a benchmark financial metric, the Efficiency Ratio, below 50% by The efficiency ratio is calculated by dividing operating expenses by income. To reach such a goal, employees are being asked to think outside the box, whether it be to create additional income opportunities or the elimination of an unnecessary expense. At the end of the day, the more efficient we become, the more competitive interest rates we can offer and the larger patronage we can share with our members. Thanks to the synergies we gained from merging the two Associations, we have a great start to achieving our goal. If you have any questions about Below Five Zero, please contact me at FINANCING RURAL OKLAHOMA 1

4 SCHOLARSHIP WINNERS 2016 Scholarship Recipients Oklahoma AgCredit is pleased to provide financial encouragement to these students with scholarships. The recipients are members children who graduated in May 2016 and pursued higher education in fall They are enrolled in a variety of educational institutions and degree programs. Look for 2017 Oklahoma AgCredit scholarship applications on OkAgCredit. com in February The High School Senior Scholarships are for members children who will graduate high school in May Applications are also available at each branch office or by ing info@okagcredit.com. Oklahoma AgCredit partners with other Farm Credit associations to offer five $1,000 scholarships to OSU sophomores, juniors or seniors who are enrolled in any major within the College of Agricultural Sciences and Natural Resources. Applications will be available in February 2017 at the Student Success Center in Ag Hall and on OkFarmCredit.com. Afruza Aminul, Oklahoma City University of Oklahoma Sarah Garvie, Burlington Northern Oklahoma College CONGRATULATIONS! 2 OKLAHOMA AG CREDIT

5 McKenna C. Pierce, Boswell Southeastern Oklahoma State University Garrett Graham Saunders, Binger Oklahoma State University Ian Daugherty, Binger Oklahoma State University Brock Boeckman, Kingfisher Oklahoma State University Matt Perry, Pauls Valley University of Oklahoma Peyton Smith, Hydro Southwestern Oklahoma State University Ashton Couch, Okmulgee OSU Institute of Technology Jared Weathers, Coyle Langston University/Northern Oklahoma College Ryan Lacey, Piedmont Oklahoma State University Cameron Corbin, Coleman East Central University Hutch T. Helbig, Claremore University of Tulsa Avery H. Bagenstos, Cherokee University of Oklahoma FINANCING RURAL OKLAHOMA 3

6 RURAL ROOTS OSU Purebred Beef Center supporters honored By Donald Stotts STILLWATER, Okla. Mother Nature has proven to be no match for the generosity of Oklahoma State University Purebred Beef Center supporters, who were honored during a come-and-go reception at the center on Sept. 17. Intense tornado-level straightline winds and earthquakes reaped devastating effects on the center s headquarters and sale arena in recent years, ripping off large sections of the roof and splitting the south wall so severely that a person standing inside could watch cars traveling along Highway 51 outside, without the aid of a window. It had reached the point where we were actually contemplating if it might not be best to raze the building, said Mark Johnson, center director for OSU s Division of Agricultural Sciences and Natural Resources. Instead, the decision was made to not only fix but modernize the structure following discussions with center supporters CoBank and the Farm Credit Associations of Oklahoma. The two groups came together and provided $77,856 of the $150,000 needed to complete remodeling and repair efforts. The results of their generosity are immediately noticable to long-time visitors, especially in terms of the makeover of our sale arena, Johnson said. In the arena and out, the improvements they helped fund are already enhancing our teaching and Extension programming efforts as 4 OKLAHOMA AG CREDIT well as sales and industry events taking place at the center. The headquarters for the OSU Purebred Beef Cattle Center is located three miles west of Stillwater, and includes bull testing facilities, a show barn, an office, a dormitory for student workers and the sale pavilion. OSU s nationally renowned purebred beef herd consists of more than 300 brood cows representing five breeds: Angus, Hereford, Brangus, Limousin and Simmental. Mature cows are maintained at the purebred range facilities consisting of approximately 2,000 acres of native and improved grasses located northwest of Stillwater near Lake Carl Blackwell. DASNR Vice President Tom Coon said the educational aspect of producing, promoting and merchandising genetically superior, high-quality seedstock is a vital part of the division s animal science program that continues to enjoy a national reputation for excellence. Our purebred beef cattle herd provides a firsthand experience in working with high-performing, moderntype cattle, thereby helping OSU animal science and veterinary medicine students better prepare for eventual professional careers in the beef industry, he said. The center also hosts approximately 2,500 4-H and FFA youth yearly. Their exposure to recommended programs for registered herds helps them to explore possible cattle-related career options. In addition to the division s Animal Science Career Development Program, which permits 10 to 15 OSU students a year the opportunity to work part-time at the center, the purebred cattle herd also serves the beef industry as the basis for continuing education through producer conferences, workshops and field days. Oklahoma ranks fourth nationally in the number of cows produced and fifth nationally in the number of total cattle and calves, according to USDA National Agricultural Statistics Service data. Representatives from OSU, Farm Credit Associations, CoBank and other supporters gathered to celebrate the OSU Purebred Beef Center Sale Arena Naming Reception on Sept. 17, 2016.

7 Enroll in the PAID System. Oklahoma AgCredit will automatically draft your checking account for your monthly payments. You can also choose to make extra principal payments. What we need to get started 1. Voided check or copy of your check with your Bank Routing Number and Account Number. 2. Signed PAID System Draft Authorization form. Contact your branch to obtain. PAID System only applies to amortized loans. FINANCING RURAL OKLAHOMA 5

8 RURAL ROOTS Country Home Loans - Funding your homestead By Sara Jensen Sara was hired as a Marketing Representative in October She works out of the Chickasha office. With the ever-changing ways of agriculture - whether it is updated farming techniques, new technology advances, or improved equipment - one thing has stayed the same, needing a homestead. Oklahoma AgCredit is unique, just like its members, by staying true to its roots while at the same time, growing with the times. New Country Home Loan Program Seeing a need for consumer home loans, both for new purchases and refinancing, it made sense for Oklahoma AgCredit to open its door to these new, potential borrowers. This is something that was needed, said Steve McIntyre, Vice President and Ardmore Branch Manager. Now we are a competitor to commercial banks. It s been a popular program with growing communities and certain geographic areas. Supporting Rural Lifestyles Focusing on properties with acres, the country home loan program paves the way for small or growing rural community residents to purchase or refinance homes at a long-term fixed rate with low-cost closing fees. All Oklahoma AgCredit Country Home Loans are held and serviced in-house. Your home loan will never be sold to another lender. Oklahoma AgCredit understand the intricacies involved with rural lending and rural living because like you, many Oklahoma AgCredit employees also enjoy a rural lifestyle. Whether it s lifestyle farming, part-time farming, or living in a small, rural community - we get it. Oklahoma AgCredit serves rural Oklahoma communities and agriculture with loans and financial services. Providing loans for rural property, farm and ranch land, country homes, livestock, equipment and operating costs is all we do. Our long-term fixed rates help you plan for the future, while our short-term loans provide capital you need to invest in your agricultural operation. Within a year of accepting home loans, there have been almost 50 home loans inquiries that have ranged from new construction, new purchase or refinances. The best part of this program is being able to open our doors and work with people who don t fit into the commercial banking mold, said Lacey Willis, Compliance Specialist based at the Chickasha branch. We understand rural lending and rural living which makes us a prime choice for those potential borrowers who may want a house and 30 acres to start a small farm. If these new borrowers would then look into buying larger pieces of acreage later on in life, we can finance those properties as well. 6 OKLAHOMA AG CREDIT

9 MEMBER OF THE FARM CREDIT SYSTEM OKLAHOMA AgCredit Country Home Loans at Oklahoma AgCredit provide financing for homes on acreage, property to hunt or fish, or for bare land you can build on now or when the time is right. Oklahoma AgCredit offers competitive rates you want and long-term fixed rates you need to manage your budget. Call for a quote. OKAGCREDIT.COM EQUAL HOUSING OPPORTUNITY

10 RURAL ROOTS Resisting the Urge to Finance Machinery with Operating Credit Think twice before using operating credit Financing a machinery purchase? Think twice before using operating credit. Margins are tight for many crop producers today facing per-bushel prices below breakeven point. These conditions put a premium on keeping a close eye on every penny spent and doing anything that can be done to maintain financial efficiency. And, while it may be tempting to do so, especially when times are tight like today, it s a good idea to resist the urge to finance big-ticket purchases like machinery and equipment using an operating line of credit versus securing separate financing unless you absolutely have to. Interest rates, overall costs differ The first reason, says AgDirect Territory Manager Calvin Sipes, is cost. Interest rates and total costs are typically higher for operating lines of credit that are designed to be utilized on an annual basis versus machinery financing that s typically drawn up for a period of several years. I m not an advocate of buying equipment using operating lines. First, they generally have higher rates, so you re paying more for that equipment in the long run, Sipes says. Plus, you are tying up financing that really needs to be utilized for operating expenses with an equipment purchase. When is it okay to use operating credit for machinery? In some cases, though, a machinery repair or altogether new purchase isn t part of a larger ownership strategy, therefore it may be more of a surprise to the producer. In cases like these, using operating credit may be inevitable. Sipes says it s important to make sure the price tag isn t high enough to erode that line of credit that s normally reserved for things like crop inputs. The operating lines of credit can be for parts or a failure in a piece of equipment. If you have a maintenance issue pop up in the field that you didn t expect and you all of a sudden have a $10,000 repair to make, that s where operating credit can be used, he says. Operating lines are necessary in cases like this, but I would use them judiciously. Plan ahead to save In the long run, it s best to plan out machinery purchases well in advance and secure financing for those purchases as early as you can to avoid losing money because of financing costs, something even more critical as the premium on financial efficiency grows for producers beset by bearish markets for the crops they grow. Is using an operating line of credit to buy machinery a smart way to do business? That s the question to answer. If you re paying a percentage point higher to finance that purchase, think about your long-term costs, Sipes says. As margins tighten up on these farms, operators need to watch every penny. Though they are totally necessary on a lot of farms, operating lines of credit have higher interest rates because it s just a different beast. Published Oct. 5, 2016 in the Learning Center on AgDirect.com AgDirect is an equipment financing program offered by participating Farm Credit associations, including Oklahoma AgCredit. AgDirect Mobile Check rates, quote payments and compare options with our free mobile application. Access current AgDirect interest rates with an internet connection, and calculate individual payment quotes or compare payment options side-by-side from your mobile phone or tablet. Download the free AgDirect Mobile app to your iphone or ipad from AgDirect. com or launch the App Store from your iphone or ipad and search for AgDirect Mobile. Go to AgDirect.com to download it to your AndroidTM device, or launch the Google Play StoreTM and search for AgDirect Mobile. Note, your mobile carrier s message and data rates may apply. 8 OKLAHOMA AG CREDIT

11 FINANCING RURAL OKLAHOMA 9

12 RURAL ROOTS We know Ag Property Knowledgeable staff Oklahoma AgCredit appraisers know rural property. All Oklahoma AgCredit appraisers are state-certified or are training to become state-certified. Becoming a State Certified General Appraiser is like earning a degree. It takes approximately two years and about 180 hours of classes, training and testing to complete requirements for certification. A couple of our appraisers have achieved further certification as an Accredited Rural Appraiser. This requires additional education, a required amount of experience, examples of work finished, and a demonstration appraisal. Many appraisers complete these requirements while working as an agricultural appraiser, so it can take 5-7 years to accomplish this designation awarded by the American Society of Farm Managers and Rural Appraisers. Maintaining the ARA designation involves completing 60 hours of continuing education every three years and paying annual ASFMRA dues. Efficiently covering the country Early in 2015, the association formed an appraisal department to more efficiently complete quality evaluations for the association territory, which expanded after the merger in January Grant Rohwer was hired in August 2015 to manage, train and hire appraisal staff. Grant ensures that the appraisal department is in compliance with regulations, and monitors appraisal requests and work flow. Well-qualified to lead the team, Grant earned an Accredited Rural Appraiser designation in 2008 and an Oklahoma Certified General Appraiser license in In 1996, he received a Bachelor of Science degree in Agricultural Economics with an ephasis in Finance Justin Grego Stuart Jackson Roger Kinsey Robert Rana Jim Rickey Grant Rohwer Adam Spears Russell Zook from Oklahoma State University. Local ties, member benefits The appraisal team s focus is to provide quality land evaluations for members, but they also generate income for the association by performing appraisals for parties outside the association as time allows. More association income can translate to greater patronage returns to members. Hiring local talent is a way to be involved in the community; our appraisers are from small towns across Oklahoma. Whether it is from hours of driving alone or from pouring over plat maps on a lonely country road, our appraisers are known for having a unique sense of humor and a cast-iron stomach. Get to know your local appraiser below. Justin Grego McAlester Appraiser From: Wilburton, Okla. Appraisal experience: 3 years Job Favorite: Meeting the customers and listening to their dreams. Road snack: Anything with a crunch, mostly Ranch CornNuts Role: Quality and timeliness of work. Also the appraisers specializing in agriculture properties daily (not just on occasion) offer benefit to members. Stuart Jackson Stillwater Appraiser From: Deer Creek community in Edmond, Okla. Appraisal experience: 6 months. I was a loan officer for the association for four years prior to becoming an appraiser. Job favorite: Seeing the state Road snack: I like the Uber Burger at Bricktown Brewery in Shawnee. Role: Our friendly faces! Knowledge of the ag industry. We help find leads for our loan officers. Roger Kinsey Muskogee Senior Appraiser From: Born and raised at Stigler, Okla. Appraisal experience: Appraising since years! Job Favorite: Meeting people, being in the country, observing various operations 10 OKLAHOMA AG CREDIT

13 and management practices. Road snack: I usually eat lunch at Subway. Role: Having an appraiser in-house gives Oklahoma AgCredit an advantage by having information on-hand - which speeds up the lending decision process. Robert Rana Poteau Senior Appraiser From: Red Oak, Okla. Appraisal experience: 16 years. I started in January 1999 as a Credit Officer; for two years I worked on both credit and appraisals, then went solely to doing appraisals. Job favorite: I get to see so many types of operations and meet new people. Road snack: Iced tea and Pork Rinds. Role: The amount of agricultural and appraisal experience that this staff has is unique for any organization. It is a great benefit to have knowledgeable and trustworthy individuals completing the valuation process and being eyes for lending staff. For a credit officer or administration to have the ability to discuss property details with an individual who understands ag property is priceless when it comes to making informed credit decisions. Jim Rickey Pauls Valley Senior Appraiser From: Pauls Valley, Okla. Appraisal experience: 14 years Job favorite: I love going to peoples farms and visiting with them about their operations. Road snack: Red Man Role: As in-house appraisers, we work hard to put a fair and accurate valuation on property. We don t worry about having to hit the number just to get future assignments. We are able to keep track of markets and keep our co-workers informed of market trends. We are concerned with our company s best interests. Grant Rohwer, Stillwater Vice President, Appraisals Accredited Rural Appraiser From: Originally from Calumet, Okla. Lived in Stillwater since 1993 when I came to school here. Appraisal experience: 19 years. I worked for the association 7 years earlier in my career. In 2015, I was hired by Oklahoma AgCredit to lead the appraisal department. Job favorite: Meeting people and new things you get to see out in the field. Role: We offer the loan officers a chance to bounce questions off of us, and they get significantly quicker turnaround time. Our appraisers are well-trained, so the loan officers get good quality work from us. Adam Spears Stillwater Appraiser Trainee From: Mannford, Okla. Appraisal experience: 1 year, two months Job favorite: Riding with Stuart of course! But seriously, working with ag people. They are a genuine group of people. Road snack: Don t have a snack but favorite restaurant is Clanton s Café in Vinita. Role: We understand agricultural property and our credit staff can ask us questions about our evaluations. We have a good working relationship with lending staff, and we help them better understand the process of appraising. Russell Zook Kingfisher Senior Appraiser Accredited Rural Appraiser From: Waynoka in Northwest Oklahoma. Appraisal experience: 7 years. Have been with Oklahoma AgCredit four years. Job favorite: Having the opportunity to get out of the office and experience the diverse territory that Oklahoma AgCredit serves. Road snack: Just about anything that comes out of the hot box of a convenience store. Role: By having in-house appraisers, Oklahoma AgCredit can reduce costs that are typically passed to the borrower and decrease the turnaround time from appraisal order to delivery and speed up loan closings. The association also provides a pathway to licensing and certification for beginning appraisers. Oklahoma AgCredit would like to thank and recognize Richard Steele, an appraiser from the McAlester office, for his nearly 42 years of service. Pictured at the 2015 Employee Banquet, Roger Moore (left) awarded Richard a 40 year service award. To Richards right is Gary Bledsoe. Richard Steele retired in September. Fellow appraisers and other staff gathered in McAlester to wish him well and describe what Richard had taught them about being an appraiser. (L to R) Roger Kinsey, Justin Grego, Grant Rohwer, Robert Rana, Richard Steele, Michael Willingham, Jim Rickey, Russell Zook, Dean Lawson. FINANCING RURAL OKLAHOMA 11

14 ROOTS Broken Arrow & Pawhuska Hello, Nice to Meet You. Broken Arrow Lending Office, 601 E Kenosha Serves: Creek, Okfuskee, Okmulgee, southern Rogers, Tulsa, and northern Wagoner counties. From the Broken Arrow Expressway/Hwy 51, exit on Lynn Lane. Go south on Lynn Lane to Kenosha Street, then turn west. The office is on the south side of the road. At Oklahoma AgCredit, people are at the heart of our Core Values. Providing knowledgeable, accurate service to our members, combined with the right financing solution for each member is important to our employees, management and Board of Directors. A key component to accomplishing those goals is having the right people in our lending offices. Oklahoma AgCredit staff is committed to providing financial support to rural Oklahomans, which is evidenced in the pride and attention our employees dedicate to fulfilling their roles. See the inside front cover for a full list of lending offices. Benny Kellner Title: Vice President / Branch Manager Length of time with Farm Credit: 31 years Role in the office: To lead and guide the lending team to ensure that our members as well as Oklahoma AgCredit s mission and visions are met. About me: I live in Morris, Oklahoma. I am married to Lori Kellner. We have two married children -Sarah to Paul and Ross to Skyla, along with three grandchildren Tatum, Camden and Raynee. I grew up helping work the family farm and ranch in Northwest Oklahoma before attending Oklahoma State University where I obtained my degree in Agriculture Economics/ Accounting. My tenure at Oklahoma AgCredit has allowed me to meet the needs of several generations of Oklahoman s involved in production agriculture. Without a doubt, I know that the members of the Broken Arrow/Pawhuska Lending team will continue to meet the needs of our customers for generations to come. Beau Sheffield Title: Vice President, Lending Benny Keller Length of time with Farm Credit: Beau Sheffield 6 years Role in the office: My role within the Broken Arrow lending branch includes marketing current and prospective customers, credit write ups, field reports, and other various tasks at hand. About me: Grew up in Gore, Okla. Raised on family farm, which to this day, Jennifer Melton Kristi DePriest consists of a corn, wheat, and soybean operation. I graduated from Oklahoma State University in the fall of 2008 with a Bachelors degree in Jennifer Melton Title: Lending Support Specialist Length of time with Farm Credit: 6 years Role in the office: My main focus is to Agribusiness. I have been married provide excellent customer service to our to Marlissa for 6 years. We have a 2 year old, Braxton Buchanan. Prior to joining the Association, I spent time working for an investment company and a commercial bank. In my time away from work, I enjoy spending time with my family, hunting, Lake Tenkiller, and traveling. I ve enjoyed my experience with the Farm Credit System over the past 6 years. The individuals, both customers and employees, who I interact with daily are what make my job enjoyable. borrowers. I prepare and service loans, process payments and assist our loan officers with day to day operations. About me: My husband and I have three children, two girls 11 and 7, and a boy age 2. I love spending weekends at the softball fields watching my oldest play, attending dance classes, and chasing around a full of life 2 year old! I have greatly enjoyed all the new relationships and experiences Oklahoma AgCredit has provided over the years. 12 OKLAHOMA AG CREDIT

15 ROOTS Pawhuska Lending Office, 536 Leahy Ave Serves: Kay and Osage Counties Heading west on Main Street/Hwy 11, turn north onto Leahy Avenue. The office will be on your right. Kristi DePriest Title: Lending Support Specialist Length of time with Farm Credit system: 7 months started in May 2016 Role in the office: My job is to prepare and process loan documents and payments for our borrowers while creating a smooth and friendly experience for them. I help the loan officers prepare for loan closings. About you: Born and raised in Clearwater, Kan., my family has a small farm with cropland and a cow-calf operation. I graduated from Fort Hays State University with my Bachelors degree in Agriculture Business in May I have a passion for the agricultural industry that continually grows. I m excited to be here with Oklahoma AgCredit. Pawhuska Oklahoma AgCredit made a commitment to members in Osage and Kay counties over a year ago when the Association realized the need for an office with full-time hours of operation. In early 2015 and previous years, Osage county was served by Broken Arrow and Vinita lending offices. Benny Kellner and Kurtis Sears maintained hours on Tuesdays and Thursdays in an office space on Main Street. In the fall of 2015, the Pawhuska contact point became a field office of Broken Arrow lending with new office hours of 8am 4:30pm Monday-Friday. Matt Kane was hired as a full-time loan officer to serve Osage and Kay counties in October After working out of the Lowry building for a short time, Matt relocated the office to its current location on Leahy Avenue in March The building used to be known as The Brick. When Matt is away from the office on appointments or on business at the Broken Arrow office, he can be reached on his cell phone Matt Kane Title: Loan Officer Length of time with Farm Credit: A little over a year Role in the office: I am in charge of servicing Osage County and part of Kay County. I attend marketing events in the area and try to promote Oklahoma AgCredit in every way possible. I spend one day a week in Broken Arrow for loan committee and to help out in any way possible there. About me: In my spare time, I enjoy spending time with my family and going out to our family ranch. My immediate family lives in Pawhuska, except my younger sister who recently got accepted into OU nursing school. The rest of my family, including my fiancé Mallorie, are OSU Alumni. We all enjoy going back to Stillwater. My favorite thing about working for Oklahoma AgCredit is being able to help farmers and ranchers on a daily basis. My long term goals with the company are to boost Loan Volume in Osage and Kay counties and to further secure our place as this area s agriculture lender of choice. Matt Kane Customers entered a drawing to win a Yeti cooler at the Broken Arrow Patronage Open House in April The Pawhuska office will also host a Patronage Open House in April FINANCING RURAL OKLAHOMA

16 OKLAHOMA AgCredit 601 E. Kenosha Broken Arrow, OK PRSRT STD US POSTAGE PAID PERMIT NO OKLA.CITY, OK These signs can be attached to your fence or building to help people locate or identify your operation, pasture or home. The sturdy metal signs are 12 X 18 and are available free to our members!