FOR IMMEDIATE RELEASE
May 12, 2008
Contact:
Sells J. Newman
601-977-8352 Office
601-946-0340 Cell
snewman@firstsouthfarmcredit.com
FIRST SOUTH FARM CREDIT ISSUES $9.3 MILLION IN PATRONAGE TO STOCKHOLDERS ON $21 MILLION OF REPORTED EARNINGS
Jackson, Mississippi. – In April 2008 First South Farm Credit distributed approximately $9.3 million to its stockholders in the form of cash and allocated surplus.
For the 13th consecutive year the First South Board approved the distribution of Association earnings. Since 1995 First South has distributed over $148 million in cash and allocated surplus.
Steve Rochelle, President and Chief Executive Officer, states “This continued distribution is proof of our commitment to share our profits with our loyal customer stockholders.”
First South is the Farm Credit System’s largest agricultural lender in Alabama, Louisiana and Mississippi. With a network of 47 offices, First South specializes in financing production agriculture, agribusiness and land mortgages to full and part-time farmers.
With over $1 billion in assets, First South will continue to take a leadership role in providing loans and financing opportunities to the states of Alabama, Louisiana and Mississippi