Independent Banker - September 2024 - 19

U.S. gross farm income, production expenses,
and net farm income, 2003-2024*
With more services, more
value, and more revenue for
you! Now that's INTERESTing.
Osaic FA specializes in
partnering with you to increase
your bottom line while helping
your customer community
with key services that you
might not currently offer:
*2024 forecast. Values adjusted for inflation.
Source: USDA, Economic Research Service, Farm Income and Wealth Statistics, Feb. 7, 2024
focuses on " treating customers well "
as a priority, while also providing
services like financing large farm
real-estate purchases. The customer
base doesn't change much; repeat
customers operate well in this
environment, with folks " adapting
well, " says Montgomery.
Future agricultural factors
According to Sustainable Agriculture
Research and Education, sustainable
agriculture means " producing enough
food and fiber to satisfy today's needs
without compromising the ability of
future generations to do the same "
while still bringing profit to farmers
over the long term. Practices include
rotating crops, planting cover crops
and reducing or eliminating tillage.
Despite the implementation of these
practices in some farms, particularly
those owned by younger people,
community bankers say it has not been
adopted on a wide-enough scale to
affect their lending programs yet.
Mark Scanlan, ICBA senior vice
president of agriculture and rural
policy, says change must still produce
income, so progress may be slow. " If
you are changing the way you farm,
then you may have less farm income,
so the question is how to repay loans
over the time it takes to transition to a
different model, " he says.
The Farm Bill is another factor
farmers and community banks are
keeping an eye on. Scanlan notes that
the 2024 Farm Bill won't alter banks'
programs significantly. Instead, the
five-year bill provides a source of
continuity, or what he calls the " farm
safety net. " It allows lenders to work
with customers on business planning
on a longer-term basis since they are
aware of government programs and
price protections.
Bankers must engage with their
existing ag customers, says Scanlan.
" Sit down and talk about your plans
going forward. "
Susan Thomas Springer is a writer
in Oregon.
Our name is changing but our
dedication to you and your
customers remains steadfast.
We work to understand your
business model, your growth
goals and your customer service
standards. We then collaborate
to offer financial solutions
that fit your approach and
help you and your customers
meet financial objectives.
Let Osaic FA be your partner
of choice. Your customers will
thank you. To learn more, email:
strategicalliance@lfg.com

Independent Banker - September 2024

Table of Contents for the Digital Edition of Independent Banker - September 2024

Contents
Independent Banker - September 2024 - Cover1
Independent Banker - September 2024 - Cover2
Independent Banker - September 2024 - Contents
Independent Banker - September 2024 - 2
Independent Banker - September 2024 - 3
Independent Banker - September 2024 - 4
Independent Banker - September 2024 - 5
Independent Banker - September 2024 - 6
Independent Banker - September 2024 - 7
Independent Banker - September 2024 - 8
Independent Banker - September 2024 - 9
Independent Banker - September 2024 - 10
Independent Banker - September 2024 - 11
Independent Banker - September 2024 - 12
Independent Banker - September 2024 - 13
Independent Banker - September 2024 - 14
Independent Banker - September 2024 - 15
Independent Banker - September 2024 - 16
Independent Banker - September 2024 - 17
Independent Banker - September 2024 - 18
Independent Banker - September 2024 - 19
Independent Banker - September 2024 - 20
Independent Banker - September 2024 - 21
Independent Banker - September 2024 - 22
Independent Banker - September 2024 - 23
Independent Banker - September 2024 - 24
Independent Banker - September 2024 - 25
Independent Banker - September 2024 - 26
Independent Banker - September 2024 - 27
Independent Banker - September 2024 - 28
Independent Banker - September 2024 - 29
Independent Banker - September 2024 - 30
Independent Banker - September 2024 - 31
Independent Banker - September 2024 - 32
Independent Banker - September 2024 - 33
Independent Banker - September 2024 - 34
Independent Banker - September 2024 - 35
Independent Banker - September 2024 - 36
Independent Banker - September 2024 - 37
Independent Banker - September 2024 - 38
Independent Banker - September 2024 - 39
Independent Banker - September 2024 - 40
Independent Banker - September 2024 - 41
Independent Banker - September 2024 - 42
Independent Banker - September 2024 - 43
Independent Banker - September 2024 - 44
Independent Banker - September 2024 - 45
Independent Banker - September 2024 - 46
Independent Banker - September 2024 - 47
Independent Banker - September 2024 - 48
Independent Banker - September 2024 - 49
Independent Banker - September 2024 - 50
Independent Banker - September 2024 - 51
Independent Banker - September 2024 - 52
Independent Banker - September 2024 - 53
Independent Banker - September 2024 - 54
Independent Banker - September 2024 - 55
Independent Banker - September 2024 - 56
Independent Banker - September 2024 - 57
Independent Banker - September 2024 - 58
Independent Banker - September 2024 - 59
Independent Banker - September 2024 - 60
Independent Banker - September 2024 - 61
Independent Banker - September 2024 - 62
Independent Banker - September 2024 - 63
Independent Banker - September 2024 - 64
Independent Banker - September 2024 - 65
Independent Banker - September 2024 - 66
Independent Banker - September 2024 - 67
Independent Banker - September 2024 - 68
Independent Banker - September 2024 - 69
Independent Banker - September 2024 - 70
Independent Banker - September 2024 - 71
Independent Banker - September 2024 - 72
Independent Banker - September 2024 - Cover3
Independent Banker - September 2024 - Cover4
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https://www.nxtbook.com/mspc/independentbanker/may2017
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