Cape Fear农场信贷 和 卡罗莱纳农业信贷 Announce Intent to Merge

 Merged Association aims to combine resources to better serve North Carolina agricultural production 和 rural residents

费耶特维尔,N.C. 和北卡罗来纳州的罗利.C. (2022年4月11日) – 卡罗莱纳农业信贷 和 Cape Fear农场信贷 jointly announced today their intention to pursue a merger of equals. Under the terms of the Letter of Intent (LOI), which was unanimously approved by the Boards of Directors of both Associations, the combined entity would form the largest ag lending cooperative in North Carolina. Based on the two Associations’ current portfolios, the merged entity would begin with over $3 billion in gross loan volume serving more than 6,000借款关系.

The two Associations would operate as 卡罗莱纳农业信贷, ACA – a name that the boards agreed best reflects the mission of the potential merged Association: to serve North Carolina agricultural production 和 rural residents. The combined company would have a presence in 46 contiguous counties in eastern North Carolina 和 headquarters would be centrally located in 格林维尔.

“多年来, both AgCarolina 和 Cape Fear have worked side-by-side as industry peers, 构建成功, financially strong Associations who have established strong capabilities in a range of areas critical to the agricultural sector,德里克·波特说, 卡罗莱纳农业信贷 Board Chairman. “We also share in a desire to grow 和 bring more value to our members.”

纳什约翰逊, Cape Fear农场信贷委员会主席, added “We are excited to continue our exploration of the possible benefits of this merger to our stockholders, 员工, 和 the agricultural 和 rural communities of eastern North Carolina. This merger could position the new entity to be big enough to continue to meet the evolving 和 diverse needs of our members, while remaining small enough to maintain our local focus.”

如果得到批准, the combined Association would be led by current Cape Fear农场信贷 President 和 CEO Evan Kleinhans, who has more than 10 years of Farm Credit leadership experience. AgCarolina President 和 CEO Dave Corum, who previously announced his plans to retire after more than 40 years of service in Farm Credit, would stay on until the merger is complete to support the organizations in the transition plan.

No branch office closures or branch staffing changes are anticipated as part of the merger, so members would receive the same local, personalized service from the same trusted experts with local loan decisions 和 delivery of financial services.

一旦尽职调查完成, the respective Boards will vote whether to approve a definitive merger agreement 和 seek to obtain regulatory approval. 如果获得监管部门的批准, stockholders would receive a merger disclosure package in late 2022 with a complete description of the merger terms 和 the Board’s reasons for recommending stockholder approval. A stockholder vote would occur afterwards, 和, 如果得到批准, the merger would become effective on Jan. 1, 2023.

Summary: The Boards of Directors for 卡罗莱纳农业信贷 和 Cape Fear农场信贷 have unanimously agreed to a letter of intent to merge – a transaction that could better serve North Carolina agricultural production 和 rural residents. 在一起, the two Associations would operate as 卡罗莱纳农业信贷, ACA, under the leadership of current Cape Fear农场信贷 President 和 CEO Evan Kleinhans. The combined company would have a presence in 46 eastern North Carolina counties with headquarters centrally located in 格林维尔. No branch closures or branch staffing changes are anticipated, so members would receive the same local, personalized service from the same trusted experts they work with today.

卡罗莱纳农业信贷

卡罗莱纳农业信贷 is a farmer owned financial cooperative with headquarters in 罗利. They are the leading provider of credit to farmers in central 和 eastern North Carolina. 贷款是用来为土地融资的, 房屋, 农场建筑, 营业费用, 牲畜, 和设备, 以及其他目的. 信用人寿保险, 评估服务, 和 leasing are also available through 卡罗莱纳农业信贷. 分店在阿霍斯基, 伊丽莎白市, 格林维尔, 哈利法克斯, La田庄, 路易斯堡, 新伯尔尼, 罗利, 洛矶山, 史密斯菲尔德, 天鹅季度, 和Williamston.

Cape Fear农场信贷

Cape Fear农场信贷 is an agricultural lending cooperative owned by its member-borrowers. 它提供新版ued官网app下载, 设备, 牲畜, 和 production as well as rural home mortgages 和 rural living. Cape Fear农场信贷 has branches serving Bladen, 不伦瑞克, 哥伦布, 坎伯兰, Duplin, 哈尼特, 废话, 新汉诺威, 潘德, 罗伯逊, 桑普森, 和苏格兰各县. It is part of the national Farm Credit System, a network of financial cooperatives established in 1916 to provide a dependable source of credit to farmers 和 rural America.