D24—Lancaster Farming, Saturday, March 5,1983
WASHINGTON, D.C. - Lending
by the Farm Credit System
declined 10.7 percent during 1962,
from $73.9 billion to $65.9 billion,
according to the Farm Credit
Administration, the Federal
agency for its
supervision, examination and
regulation.
Loans outstanding on Dec. 31.
1982, totaled $80.4 billion, an in
crease of 2.8 percent from a year
earlier. The 1980-1981 increase was
15.2 percent and the 1979-1980
growth was 18.2 percent.
FCA officials attributed the
slowdown in loan activity to the
efforts of farmers to borrow only
what is absolutely necessary in the
face of low commodity prices and
diminished cash flow.
Lending by the Federal Land
Banks declined the most sharply
during the year. They made 63,399
loans totaling $7.5 billion during
1982, compared with 99,699 loans
for a total of $12.2 billion in 1981.
The decreases were 36.4 percent in
number and 38.2 percent in
amount.
Federal Land Bank loans to
refinance existing debts accounted
for 52.6 percent of all loans made,
through the first three quarters of
1982. For the corresponding period
the year before, 48.5 percent of all
loans made were to refinance
existing debts. This shows that
many fanners are stretching out
loan terms to lower mortgage
payments or refinancing short
term obligations.
On Dec. 31, 1982, the Federal
Farm Credit System lending declines
Land Banks had 667,912 loans
outstanding for a total of $50.4
billion. A year earlier, they had
646,372 loans on the books totaling
$46.5 billion. The increases were
3.3 percent in number and 8.4
percent in amount.
Production Credit Associations
made loans totaling $33.1 billion
during 1982, a decrease of 5.3
percent from the $35.0 billion in
loans made during 1981.
On Dec. 31, they had $20.7 billion
in loans outstanding to a total of
382,810 borrowers, compared to
$21.6 billion outstanding to 380,186
borrowers a year earlier. The
amount outstanding decreased 4.4
percent and the number of
borrowers with loans outstanding
increased 0.7 percent.
The Banks for Cooperatives
made loans totaling $23.5 billion
during 1982, 5.3 percent less than
the $24.5 billion in loans made
during 1981.
At the end of the year, they had
$8.4 billion in loans outstanding to
3,406 cooperatives, 7.7 percent less
than the $9.1 billion outstanding to
3,493 cooperatives at the end of the
previous year.
Of 667,912 Federal Land Bank
loans outstanding on Dec. 31,21,007
were delinquent. A year earlier,
15,603 loans were delinquent out ol
646,372 outstanding. The
delinquency rate, therefore, in
creased from 2.4 percent at the end
of 1981 to 3.2 percent at the end oi
1982.
Production Credit Associations
had 12,625 delinquencies out of
382,819 loans outstanding at the end
of 1982, or 3.3 percent. No com
parable figures are available for -
1981, but with PCAs in 10 districts
reporting there were 11,239
delinquencies out of 366,260 loans
on the books for a 3 percent rate.
The Federal Land Banks
foreclosed on 1,370 loans during
1982, compared with 719
Wayne County
HONESDALE Committees for
the 1983 Wayne County Dairy Day
scheduled for Thursday, March 17,
from 9:30 a.m. to 3:15 p.m. at the
Wayne County Memorial Armory
have been announced by the
Wayne County Agricultural Ex
tension Office.
They are: program co
chairman, Andrew Goodrich and
Fred Nordenhold; lunch com
mittee, William Werner, Robert
Nearing, Richard Gillette, Ed
DeVrieze, Garry sheard, Arthur
Davis and Wayne Olver; space
assignment, Peter Wilken and
Edward Perkin; sound systems,
Clark Williams; registration,
Patricia Mohn, Ted Kostige and
i i
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foreclosures during 1981.
Production Credit Associations
in 10 districts reported 1,072
foreclosures during 1982. Nc
comparable figures are available
for 1981, but six districts reported
531 foreclosures.
Only a fraction of foreclosure
actions result in auction sales.
to hold March 17 Dairy Da
Dale Teeple; seating, John
Pawloski, Donald Schmidt, Joseph
Krompasky, Joseph Schweighofer,
Robert Williams, and John Maz
zga; door prizes, Robert Terrall
and Sam Drapper; dairy princess,
Arthur Noble.
The Dairy Day event is being
sponsored by the Extension Ser
vice along with area farm supply
dealers and farm organizations.
More than 30 commercial sup
porters - are expected to par
ticipate. All dairy farm persons
are invited.
The program will include
educational speakers, commercial
exhibits, and door awards. Jud
Heindricks and Richard Adams,
6
4
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♦
Farm Credit Administration
officials are still concerned what
the first quarter 1983 reports will
show. It is during that period that a
majority of Federal Land Bank
loans payments fall due and when
borrowers from Production Credit
Associations renew their operating
loans.
Penn State Extension dairy
specialists, as well as Geil Gam
ble, Wayne County Dairy Princess
are scheduled as speakers. Topics
will include Getting Dairy Calves
off To A Good Start, Forage
Preservatives, Dry and Fresh Cow
Nutrition For Better Health, and
How The Milk Cow Ration In
fluences Milk Constituients Such
As Protein and Butterfat.
Lunch will be served by Cor
dero’s and will be provided by the
exhibitors.
Dairy farmers can make
reservations for Dairy Day by
contacting the Wyane County
Extension Office at (717; 253-5970,
ext. 114.
6030 Jonestown Rd.
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