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Mergers, Name Changes, and Other Corporate Activity

FCA is responsible for issuing corporate charters to all Farm Credit System institutions. Therefore, when institutions merge, change their names, and make other corporate changes, they must have these actions approved through FCA.

Recent Activity
Associations Merge
A merger between Capital Farm Credit, ACA, in Bryan, Texas, and First Ag Credit, FCS, in Lubbock took effect on October 1. The Production Credit Association (PCA) and Federal Land Credit Association (FLCA) subsidiaries of the two Agricultural Credit Associations (ACAs) also merged. Capital Farm Credit, ACA, is the continuing ACA, and its headquarters remain in Bryan.

The FCA Board had given preliminary approval to the merger on July 10. Following an affirmative vote in August by the voting stockholders of each ACA, FCA granted final approval of the merger on September 29.

Merger Receives Preliminary Approval
On September 19, the FCA Board granted preliminary approval for a merger of the Federal Land Bank Association of Ponca City, Oklahoma, into the FLCA subsidiary of Farm Credit Services of Central Kansas, ACA, located in Wichita, Kansas.

If the merger is approved by the voting stockholders of each association, stockholders of Ponca City will exchange their equities in the Ponca City FLCA for like equities in Central Kansas, ACA. The FCA Board imposed conditions of approval that allow FCA to view the continuing associations (Farm Credit Services of Central Kansas, ACA, and its subsidiaries) as a single entity for most regulatory purposes. The continuing association would be known as Farm Credit of the Heartland, ACA.     

Association Name Change
As of October 1, Badgerland Farm Credit Services, ACA, of Baraboo, Wisconsin, became Badgerland Financial, ACA. The ACA’s subsidiaries became Badgerland Financial, PCA, and Badgerland Financial, FLCA. FCA had approved the name change on August 18.
 
Applications Pending
On October 1, FCA began review of a merger application submitted by two ACAs in the AgFirst district on September 23.

As of October 1, FCA Board action is pending on an application submitted by an FLCA in the Texas district to have its charter converted to that of an ACA. The application was submitted on August 27.

Additional Information
To find out the number of banks and associations in the FCS, how they are classified, and how their numbers have changed over the past 12 months, see Number of FCS Institutions.

See FCA Board Approvals of FCS Corporate Applications for corporate activity since January 1, 2008.

To locate an FCS institution or to see a map showing the FCS districts, go to the FCS Directory and Map.