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News
Frontier Farm Credit Expands Crop Insurance Team
Picture Cutline: The Frontier Farm Credit Crop Insurance Team is pictured left to right: Frank Newell, Jason Spellman, Lou Jeffers, Dave Taylor, and Eric Wiles.
Frontier Farm Credit continues to grow its crop insurance offerings and support. As part of this initiative three additional insurance specialists have been hired to service customers’ crop insurance needs.
“We are eager to get our new insurance specialists out in the field to meet customer needs,” said Clarke Jackman, Frontier Farm Credit Sr. Vice President-Development Special Programs. “The specialists have years of insurance experience and are committed to drawing from their experience to help customers make informed risk-management decisions for their operations.”
Frank Newell has been hired as an insurance specialist and will work with the Marysville/Hiawatha lending team to provide crop insurance products and services in that region. Newell joins the Frontier Farm Credit team after serving as an assistant vice president of lending at an area bank since 2005. Prior to that, he was a multi-line insurance agent for 13 years in Hiawatha. Newell graduated from Kansas University with a bachelor’s degree in 1990 and has lived in Hiawatha, Kans. for the past 15 years.
Jason Spellman will work with the insurance team to provide processing support for Frontier Farm Credit customers. Additionally, he will work with the Manhattan lending team to serve walk-in crop insurance customers. Spellman has worked in the crop insurance industry for five years handling underwriting, audit and compliance duties. Spellman graduated from Kansas State University in 2001 and is a native of Manhattan, Kan.
Eric Wiles has been promoted to the role of insurance specialist for the southeast region of Frontier Farm Credit. Eric has worked as a financial services officer for Frontier Farm Credit since 2004. In his new role he will help support customers’ insurance and risk management decisions. He is a graduate of Kansas State University’s College of Agriculture and is a native of Coffeyville, Kan.
These new specialists join Frontier Farm Credit insurance specialists Dave Taylor who has 23 years of insurance experience and support specialist Lou Jeffers who has worked in the insurance industry for 12 years. As a team, they plan to serve customers and meet their insurance needs by staying on top of increasingly changing standards in the crop insurance industry.
Featured News
FFC Rural Real Estate Appraisals: A Valuable Service
A short definition of market value is “the most probable price a property should bring in an open and competitive market.”The appraisal staff of Frontier Farm Credit, comprised of seven highly trained state certified professionals, specializes in appraising (providing opinions of) market value of rural real estate in eastern Kansas. FFC appraisers have had the privilege of serving Farm Credit customers and fee appraisal clients for a combined total of more than 110 years. Continue Reading>>
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President's Corner
President's Corner
The first half of 2008 has drawn to a close and your Association continues to grow at a rapid pace. As of midJuly your Association has grown to nearly $1.2 billion in accrual loan volume at over 97% acceptable credit quality, based upon adding over $271 million in new loan volume. Our newly formed crop insurance team – in addition to providing crop revenue insurance coverage for our customers – has added over 80,000 acres of crop hail coverage……and continue to add coverage for more customers daily. Our newly formed business services team has completed
tax returns, records, and/or business consulting for over 230 customers. In April we completed the distribution of $4 million in patronage from 2007 earnings. Continue Reading>>
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Of Intere$t
Of Intere$t
It’s all about the dollar. As we round out the summer months
of 2008, the Federal Reserve is being scrutinized not only for the
level of interest rates and the state of the economy, but also for the level of the U.S. dollar versus other major currencies. The first half of the year saw the U.S. dollar deteriorate in value versus other currencies, at least partially because of the level of real interest rates in the United States. Real interest rates take into account stated rates plus the implied rate of inflation. While a weak dollar is good for exports because foreign currencies are able to buy more of our goods and services, it is bad for the price of oil. Oil is traded in U.S. dollars all over the world. Thus if China wishes to buy Venezuelan oil, that transaction is conducted in U.S. dollars. With that, a weaker U.S. dollar means it takes more dollars to buy a barrel of oil. Continue Reading>>
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Crop Talk
Crop Talk
For most —if not all —of us agriculture has always been part of our lives. I can’t remember a year with more variables in the weather along with many other adverse challenges.
Our 41 county territory experienced problems in the wheat crop from various winter conditions. An extremely wet spring led to some flooding and delayed spring planting. To top it off, more moisture and storms packed with hail caused more stress to the wheat crop —including infestations of scab and vomitoxin. It never fails to amaze me that Kansas farmers find ways to get the job done. Outside of a few extremely wet situations, the spring crops were planted and replanted and wheat harvest was completed in our territory. Continue Reading>>
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Leasing Residual
Leasing Residual
The best of both worlds is available through FCL’s Bonus Buster Lease. You can take advantage of the new tax incentives included in the 2008 Economic Stimulus Package and still have the financial benefits of leasing. FCL will monetize the depreciation benefits and provide you with lower payments. Continue Reading>>
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Business ¢ents
Business ¢ents
We all have an estate plan. In a sense, everyone has a plan even if they haven’t formalized a written plan. A person may have a will or a trust they have developed or another plan they have put in writing. For those that have not, the state you reside in provides a plan for you. Often the most important step is to determine the objectives of your estate or transition plan. There are many ways to transfer property before or after death; the key is understanding what you desire to accomplish. Advance planning benefits both you and your loved ones. The following items should be taken into consideration when formulating your plan. Continue Reading>>
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Press Releases
Latest Press Release
- Riffel Promoted to Frontier Farm Credit Vice President of Credit Services
- Fike Promoted to Frontier Farm Credit Senior Vice President of Credit
- Frontier Farm Credit Plans to Build New Marysville Location