Three large, midwest Farm Credit Service associations are one step closer toward executing their planned merger later this summer. They are AgStar, serving eastern and southern Minnesota and northwest Wisconsin; Badgerland Financial, which serves southern Wisconsin; and 1st Farm Credit Services, which serves northern and western Illinois. The merged institution will serve 144 counties spreading from the northern tip of Minnesota to just north of St. Louis. Rod Hebrink, the current AgStar CEO, will lead the merged association, which will be called Compeer Financial and be headquartered in Sun Prairie, Wisconsin, not far from Badgerland’s present headquarters and about midway, north and south, in the combined territory.
Based on June 30, 2016, numbers, Compeer would have had $18.5 billion in assets, making it the third largest FCS association, behind Omaha-based FCS of America ($25.4 billion in assets) and Louisville-based Farm Credit Mid-America ($22.4 billion).
Take a moment and meet Rod Hebrink!