The proposed merger of three Midwest Farm Credit organizations has cleared its final hurdle.
Stockholders of Minnesota-based AgStar Financial, Badgerland Financial of Wisconsin, and 1st Farm Credit Services in Illinois voted in favor of the merger during special meetings April 7.
AgStar CEO Rod Hebrink, who was selected to lead the new company, says the merger draws on each organization’s strengths, and provides expanded capital to assist in technology and resource investment.
The merged organization, Compeer Financial, will service nearly 50,000 clients in more than 140 counties across Minnesota, Wisconsin and Illinois beginning July 1.
The headquarters will be Sun Prairie, Wis., with existing office locations continuing to provide local service.
Source: brownfieldagnews.com