On June 24th, Farm Credit Mid-America and Farm Credit Midsouth signed a letter of intent to merge. The combined association would operate under the name Farm Credit Mid-America and continue with an aligned purpose to secure the future of rural communities and agriculture across Indiana, Ohio, Kentucky, Tennessee, Arkansas and Missouri.
The merged association would employ 1,650 team members and have an owned and managed asset total of nearly $36 billion, serving more than 137,000 customers across six states (391 counties). Before the merger is approved, it must receive regulatory approval and approval of stockholders. The targeted close date of the merger is April 1, 2023.
Farm Credit Midsouth (a part of the Farm Credit System) is a federally-charted cooperative providing over $1.24 billion in credit and related services to more than 3,500 agriculture producers and rural home owners in ten Eastern Arkansas counties (Clay, Greene, Craighead, Mississippi, Crittenden, Poinsett, Cross, St. Francis, Lee and Phillips) and three counties in Missouri (Ripley, Carter and Wayne) through its wholly-owned PCA and FLCA subsidiaries.