Farm Credit West Stockholders Vote to Approve Merger
Rocklin, CA (Nov. 18, 2022) -- At separate special meetings of stockholders held on November 17, 2022, the voting stockholders of Farm Credit West and the voting stockholders of Northwest Farm Credit Services approved the merger of the two associations.
The voting stockholders of each association have the right to petition for a reconsideration vote. The petition must be signed by 15% of either association’s voting stockholders and must be filed with the Farm Credit Administration (FCA) within the 35-day period commencing November 18. Assuming no reconsideration petition is filed and FCA grants final approval of the merger, the merger will be effective January 1, 2023. The new association, AgWest Farm Credit, will operate under the leadership of current Farm Credit West CEO, Mark Littlefield and a management team from both associations. Headquarters will be in Spokane with regional operating centers in each state. No office closures or branch staffing changes are anticipated as part of this merger.
All stockholders have been sent a notice of this approval by the third-party tabulator.
Both associations serve producers, agribusinesses, and related industries across the West. The merged association will serve customers in Alaska, Arizona, California, Idaho, Oregon, Montana and Washington.
About Farm Credit West: Farm Credit West is a lending institution of the Farm Credit System with California branch offices in Bakersfield, Dinuba, Hanford, Imperial Valley, Santa Maria, Templeton, Tulare, Ventura, Woodland and Yuba City; and Arizona branch offices in Tempe, Safford, and Yuma. The corporate headquarters is located in Rocklin, California. The Farm Credit System is a nationwide network of borrower-owned lending institutions and specialized service organizations created by Congress in 1916. The System provides loans, leases, and related services to farmers, ranchers, rural homeowners, agribusinesses and agricultural and rural utility cooperatives nationwide. Visit Farmcreditwest.com.