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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.

Note: FCA views an Agricultural Credit Association (ACA) and its Production Credit Association (PCA) and Federal Land Credit Association (FLCA) subsidiaries as a single entity for most regulatory purposes.

ACA Receives Approval of Proposed Disclosure for Stockholder Vote on Long-Term Lending Authority
On February 26, 2009, the FCA Board approved the proposed disclosure that First South Farm Credit, ACA, and First South Farm Credit, FLCA, will provide to their stockholders to obtain long-term lending authority under Title I of the Farm Credit Act, as amended, within First South ACA’s entire chartered territory. First South ACA and First South FLCA are seeking this authority pursuant to amendments to the Farm Credit Act that become effective on January 1, 2010.

An affirmative vote by First South ACA’s voting stockholders is required. Congress provided this new authority as part of the 2008 farm bill. Currently, First South ACA and its FLCA subsidiary may only make long-term loans in one county in the ACA’s chartered territory.  

Pending Applications
As of April 1, 2009, no corporate applications were pending consideration or action by the FCA Board.

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 Banks and Associations.

See FCA Board Approvals of FCS Corporate Applications for a summary of corporate activity since January 1, 2009.

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