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Farm Credit banks report growth despite
BALTIMORE, Md - The
Farm Credit Banks of
Baltimore experienced
healthy growth m 1979
despite the rising cost of
funds, bank president Gene
L. Swackhamer announced
recently.
Net earnings for the calen
dar year were $7.1 million
for the Federal Land Bank,
$4.2 million for the Federal
Intermediate Credit Bank,
and $2 million for the Bank
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fcorporationi
for Cooperatives. The three
institutions which comprise
the Farm Credit Banks of
Baltimore provide
agricultural financing m
Pennsylvania, Delaware,
Maryland, Virginia, West
Virginia and Puerto Rico
Total volume outstanding
as of December 31 equaled
$1.4 billion for the Federal
Land Bank and $550 million
for the Federal Intermediate
Credit Bank The year’s new
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loans for these two banks
totaled $431 million and $378
million, respectively.
Cash advances by the
Bank for Cooperatives in
1979 were at $350 million;
year-end net volume
outstanding was at $62
million. Many of the Bank
for Cooperatives loans are
made on a seasonal basis,
and are thus repaid prior to
year-end.
Although net earnings for
THE
TOWN.
Spacious Straight Wall
30’, 40', 50', 60' Widths
10’ - 16' Have Heights
the Federal Land Bank of
Baltimore were down
somewhat from the $9l
million earned in 1978,
Swackhamer reported that
earnings were still adequate
to maintain efficient opera
tions and required reserves.
Earnings for both the
Small farmer workshop
MIDDLETOWN, Del. -
Because of the popularity of
the recent workshop for New
Castle county’s small far
mers, the program is being
repeated Tuesday, April 15,
at 7:30 p.m. at the Mid
dletown High School. Its
purpose is to acquaint New
Castle county residents who
live on small farms with
★ Barn Cleaners, Manure Pumps,
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DAIRY EQUIPMENT
1950 S. sth Avenue, Lebanon, Pa. 17042
Phone: 717-272-0871
Lancaster Farming, Saturday, April 5,1980—D5
interest costs
Federal Intermediate Credit
Bank and the Bank for
Cooperatives advanced over
the 1978 figures
The Farm Credit Banks of
Baltimore constitute one
district of the nation’s
largest agricultural lender
Originally established by the
to run April 15
some of the ways, they can
make their few acres more
productive.
As at the first meeting, the
mam part of the program
will be devoted to small
discussion groups on the
following topics- soil con
servation and soil im
provement, income from
your forest, growing
federal government, the na
tional Farm Credit System is
now privately owned and
operated as a financial
cooperative.
Lending funds are obtain
ed primarily through the
sale of Farm Credit System
wide Bonds
Christmas trees, growing
small fruits and vegetables,
livestock management on a
few acres, and beekeeping.
Each of these sessions will
be led by a qualified person
who will discuss m general
terms how a small fanner
might be able to improve his
or her income in terms of
that particular topic.
The idea is not to give
detailed information, but to
stimulate interest in some of
the enterprises which may
be more productive for the
small farmer than growing
com or soybeans.
The program will be
arranged so that individuals
who attend have a chance to
participate in a total of two
different discussion groups
during the course of the
evening.
The workshop is being
sponsored jointly by the Soil
Conservation, Service,
Agricultural Stabilization
and Conservation Service,
State Forest Service, Far
mers Home Administration
and the Delaware Extension
Service.
It is free and open to all
interested individuals.