Credit Directors On Farm Tour
of the drought until late this year or temperature, feed consumption,
early 1989. egg flow and emergency
Operating reports show com- problems,
bined loan volume of the bank and The farm tour in Pennsylvania
affiliated associations at $2.6 bil- was planned to visit borrower’s
lion as of June 30, 1988, as com- farming operations and to visit
pared to $2.5 billion one year with the local boards of directors to
earlier. get first-hand knowledge of the
Farm mortgage delinquency needs and concerns and to deter
rates at June 30 this year were 3.6 mine if Farm Credit meets those
percent of the number of loans, needs adequately. The group
compared to 4.3 percent last year, made stops in Stewartstown, New
Delinquency rates on production, Park, Fawn Grove, Lancaster,
operating and other short-term Lititz, Williamsport, Mill Hall,
loans also improved this year with and State College.
2.4 percent of the number of bor- The mid-Atlantic region of The
rowers delinquent as compared to Farm Credit Bank of Baltimore
2.9 percent on June 30, 1987. serves five states (PA, MD, VA,
At the farm of Roger and Grace DE, WV) and Puerto Rico. The
Moyer, Lititz, the group was intro- region has over 52,000 member/
duced to a modem computerized borrowers with loan volume of
cage layer operation. The Moyers $2.6 billion. It’s a co-operative
have 174,000 birds under a new totally owned by its member/
computer system that monitors borrowers.
(Continued from Pago A 1)
tour of the Farm Credit Bajtlc pf
Baltimore.
Gene Swackhamer, President,
told Lancaster Farming the chal
lenge for the farm credit system is
to get money from New York to
the farm customers at a good inter*,
estrate. “While it’s hard to realize
from a farmer’s viewpoint,”
Swackhamer said, “our money
markets are greatly influenced by
world-wide finance. We seem to
be headed into a period of rising
interest rates. But like older far
mers say, ‘it’.s an election year’, so
maybe we’ll see a little easing of
rates later in the year.”
Swackhamer reported second
quarter earnings for the Farm Cre
dit Bank of Baltimore and affil
iated associations at $2.9 million
as compared to $3.9 million for the
same period of 1987. “Business is
good, our loan volume is up from
this time last year,” Swackhamer
said. “We’ve kept our loan pricing
margins very tight. Consequently,
our loan rates are very
competitive.
Commenting on the effects of
the drought, Swackhamer said that
to dale ag lenders have only been
minimally impacted. But, we
won’t sec the true economic result
FEED BILLS TOO HIGH?
agn
systems
Northeast
WASHINGTON The U.S.
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INC.
Dealer
Inquiries
Invited
Lancaster Farming, Saturday, August 20, 19W-A27
Farm Credit leaders visit Roger and Grace Moyer Poultry
Farm, Lititz. Scott Owens, President, Lancaster Farm Credit
(left) and Gene Swackhamer, President, Farm Credit Bank
of Baltimore (right).
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