Cape FearCountrySpring09 by xiaopangnv


									                      Spring 2009

           Sweet Berry Farms
Are blueberries one of your favorite summer fruits?
    CFFC Announces 23% Patronage Refund
       at Annual Stockholders’ Meeting
                                                            Cape Fear Country is published
                                                            quarterly for stockholders and friends
                                                            of Cape Fear Farm Credit.

                                                            Richard A. Eason

                                                            BoARd oF diReCtoRS
                                                            Ronald J. Allen, Chiarman
                                                            Arnold Drew Smith, Vice Chairman
                                                            Jimmy Frederick
                                                            Dr. James Harriss
                                                            Gary Hendrix
                                                            Jart Hudson, Jr.
                                                            Lyle Ray King
                                                            Daniel Lewis
                                                            Jon Pope
                                                            Jeff Simpson
                                                            Harold J. Smith, Jr.
                                                            Bo Stone
                                                            Terray Suggs
                                                            Alfred K. Wooten

                                                            Skipper Jones

Generation                                                  PuBliSheR

to generation.
                                                            AgFirst Farm Credit Bank

                                                            PuBliShing diReCtoR
                                                            Donna Camacho

                                                            deSign teAM
                                                            Athina Eargle
For more than 90 years, Cape Fear Farm Credit has been      Darren Hill
helping farmers build their businesses. During that time,   Amanda Simpson
                                                            Travis Taylor
generations of farmers have turned to us for superior
customer service and knowledge of the industry.             CiRCulAtion
                                                            Kathi DeFlorio
While the scenery may have changed, one thing
                                                            Address changes, questions, comments or requests
remains the same—Cape Fear Farm Credit’s                    for copies of our financial reports should be directed
                                                            to Cape Fear Farm Credit by writing P.o. Box 2405,
mission to service rural America.                           Fayetteville, nC 28302 or calling 910-323-9188.
                                                            our quarterly financial report can also be obtained
Give us a call to see how we can help you.                  on our Web site at

                                                               Content S

                                Cape Fear Country Spring 2009
                                                                                              From our President
                                                                                              We’re Relationship Lenders . . . . . . . . . 4

                                                                                              Sweet Berry Farms. . . . . . . . . . . . . . . . 5

                                                                                              YBs sPotlight
                                                                                              James Lamb
                                                                                                A farmer since childhood . . . . . . . . 8

                                                                                              FFa student PersPective
5                                             8                                               Georgiana Carol Honeycutt . . . . . . . 10
                                                                                              Kayle Corcoran . . . . . . . . . . . . . . . . . . 11
did you realize the nutritional               So, how did James
                                                                                              legislative uPdate
value of blueberries makes                    become a Cape Fear                              Farm Credit–A Successful GSE . . . . . .12
them one of the best                          Farm Credit member?
                                                                                              communitY news & events
foods we can eat?                             Well, Clinton Loan Officer Nelson Powell and
                                                                                              AgForum with Congressman
                                              James both went through high school together
When asked how Sweet Berry Farms in                                                             McIntyre . . . . . . . . . . . . . . . . . . . . .14
                                              and were reacquainted during a Prestage
Ivanhoe, North Carolina evolved, Chester
                                              internship during college, but it was many      Murphy Brown Vendor Expo . . . . . . .14
Barnhill chuckled as he began to reminisce.
                                              years later when James began doing business     Southern Farm Days–Wholesome
                                              with Cape Fear Farm Credit.                       Family Fun . . . . . . . . . . . . . . . . . . . .15
                                                                                              Farm Credit Sponsors Annual N.C.
                                                                                                Minority Landowners and Farm
                                                                                                Conference . . . . . . . . . . . . . . . . . . . . . . 16
                                                                                              Eastern North Carolina Farmers
                                                                                                Eligible for Grants . . . . . . . . . . . . . .17
                                                                                              CFFC Sponsors the Three Rivers
                                                                                                Federation FFA . . . . . . . . . . . . . . . .17
                                                                                              Elizabethtown Branch Volunteers at
                                                                                                Local Envirothon. . . . . . . . . . . . . . 18
                                                                                              FFA Chapters Participate in the State
                                                                                                FFA Land Judging Event . . . . . . . .19

17                                            22                                              association news
                                                                                              CFFC Announces 23% Patronage
                                                                                                Refund . . . . . . . . . . . . . . . . . . . . . . 20
Jay Smith was one of the                      during the meeting, Cape                        Members Elected to Serve on the
presenters for the event                      Fear Farm Credit was                             CFFC Board of Directors . . . . . . . 22

and he discussed “Keys                        excited to announce the                         2009 Customer Appreciation
                                                                                                Events . . . . . . . . . . . . . . . . . . . . . . . 24
to Preparing a Successful                     23% patronage refund!
Farm loan Application”                        This all cash patronage refund represented
                                                                                              Newsworthy Members
with the group.                               23% of the accrued interest on members’ loans
                                              in 2008. Once again, we are able to share our
                                                                                               and Employees . . . . . . . . . . . . . . . 26
The two day event was packed with other       profits with our members by putting profits     Baby Announcements. . . . . . . . . . . . 28
educational topics, including alternative     in your pockets!                                reciPes
energy, agronomy, conservation tools,
organic farming, food safety and livestock
                                                                                              Blueberry Recipes . . . . . . . . . . . . . . . 29
opportunities.                                                                                Financial rePort
                                                                                              First Quarter 2009 . . . . . . . . . . . . . . 30
                                                     Cape Fear Country Spring 2009   3
                                                           F RoM the P Re S ident

                  We’re Relationship Lenders

                                                                                                                            Richard A. eason

          ith all the financial storm clouds     months, I’ve been very pleased to see that so       about relating to you, fully understanding your
          looming, it’s easy to focus on the     many of you took the time to write additional       needs and operations and providing a level of
          negatives, especially when new         comments to me about the service you receive.       customer service that exceeds your expecta-
difficulties emerge weekly. However, over        Here are just a few:                                tions. The unsolicited comments and positive
the past couple of months I’ve had numerous                                                          feedback that I receive stands as testament
                                                  “Such a great institution that I’ll continue
reminders of why I truly love my job.                                                                to the strong relationships we share with our
                                                      to borrow just to remain affiliated”
     My first reminder came in February at                                                           members. Our members are like family; we
our Annual Stockholders’ Meeting when so           “you understand your customer’s needs             live in the same communities, go to the same
many of you made a special effort to come up         in good times and not so good times”            churches, shop at the same grocery stores and
to me and express your appreciation for our                                                          send our children to the same schools. I thank
cooperative and more importantly for those               “…the very best to work with!               all of you for your feedback and comments.
who serve you in our branch offices. Many               You should be thankful to have               They are uplifting and very much appreciated.
of you raved about the extraordinary service                 an employee like her.”                  Have a safe spring and summer!
you receive and emphasized how obvious it
                                                        “Outstanding! Great company
was that our team members really care about
                                                                and great staff.”
your needs.
     I must admit, I’ve always received many         “...ya’ll are like family, you are great
positive comments but what made this year                         to work with.”
so special were the numerous comments
                                                      The third reminder came from a letter
regarding our newer, less experienced team
                                                 I received from a member. As I opened the
members. The accolades included words,
                                                 letter, I was expecting a complaint, but to my
such as, professional, caring, smart, prompt,
                                                 surprise it was a letter full of accolades for
courteous, respectful and passionate. One
                                                 his loan officer. What was so impressive, was
member simply congratulated me on our
                                                 the fact that the letter was commending the
ability to find such nice, local, young people
                                                 loan officer for having done research on his
to continue Cape Fear Farm Credit’s tradition
                                                 request and then being willing to raise areas
of great employees.
                                                 of risk and concern he felt the need to share.
     The second reminder came from a
                                                 In his letter, he stated, “It is assuring to know
process I began several years ago. Each time
                                                 I am dealing with a lender that’s committed
you receive a loan from us, we send you
                                                 to me and my best interest, not just based on
a customer satisfaction survey card. Your
                                                 my ability to repay a loan.”
comments are very important to me and are
                                                      Here at Cape Fear Farm Credit, we pride
taken seriously. The responses come straight
                                                 ourselves on being relationship lenders. It’s
to my desk each morning. Over the last two

                                                             Cape Fear Farm Credit   4
                                                                           Fe A tu Re

                                                   Sweet Berry Farms
                              Are blueberries one of your favorite summer fruits?

           id you realize the nutritional value         message the Barnhill and Benton families         any bushes.” Chester went
           of blueberries makes them one                from Ivanhoe, North Carolina want to hear        on to say, “So as silly
           of the best foods we can eat? Did            ring loud and clear across the United States.    as it might sound, my
you know that according to data from the                     When asked how Sweet Berry Farms in         grandfather asked the
USDA Human Nutrition Research Center on                 Ivanhoe evolved, Chester Barnhill chuckled       men if he could just pick
Aging, blueberries are among the fruits with            as he began to reminisce. Chester said, “Now     some berries. The men
the highest antioxidant activity? Using a test          this is a funny story! My grandfather became     agreed, he dried the berries
called ORAC (Oxygen Radical Absorbance                  interested in raising blueberries many years     and planted the seeds. I’m
Capacity), researchers have shown that one              ago. He didn’t know much about the business,     sure those men laughed at
serving of fresh blueberries contains more              so he turned to two Virginians that came to      his idea, but he was successful
antioxidant activity than many other fruits             North Carolina and bought an adjoining           in growing blueberries. I even
and vegetables. Antioxidants protect your               farm and began producing blueberries.            remember those first berries…boy,
cells against the effects of free radicals and          Those gentlemen were hesitant to give my         they tasted awful! But that’s how it
cell damage. Well, that’s a fact and it is a            grandfather advice and unwilling to sell him
                                                                                                                                     Continued on next page

(From the left) Joey Benton, CFFC Burgaw Loan Officer Shannon Bell, Chester Barnhill and Kiah Barnhill

                                                                Cape Fear Country Spring 2009   5
                                                                            Fe A tu Re

Continued FRoM PAge 5

all began. In fact, my grandfather was the
first “North Carolinian” to plant blueberries
in the state.”
     Chester Barnhill’s father got into the
blueberry business several years later, and
then after 20 years in a public job, Chester
himself decided to come back to the farm and
expand the blueberry business. Chester and
Claudia Barhill’s children, Kiah and Amanda,
were small at the time but willing to help on
the farm. Amanda remembers her first job on
the blueberry farm was driving a tractor. Kiah
knew from the young age of 12 that Ivanhoe,
NC was where he wanted to work, live and
raise his family. Kiah said, “My father gave me
                                                        Joey Benton (left) and Kiah Barnhill (right) standing in the blueberry field
my own nine acres of blueberries when I was
only 12 years old, and from that point I knew           you get to see the results of the hard work that            to buy an adjoining farm to expand our

blueberry farming was what I wanted to do.”             you put into the business.” They have three                 operation, and the seller asked me to make

He attended North Carolina State University’s           children: Emily, age 10, Elizabeth, age 8, and              it fast! Well, that’s just what Jim did; we had

Agricultural Institute and made his way back            Sarah, age 6. Now Sweet Berry Farms supports                the transaction closed in about twelve days.

to Ivanhoe, NC to join the family business. He          three families and produces over 500 acres                  That’s got to be record time!” Joey and his

and his wife, Patsy, now have two children:             of blueberries each year with seven major                   wife, Amanda, have been Cape Fear Farm

Caroline, age 4 and Christina, age 1. Amanda            varieties. Chester commented, “The Lord                     Credit members since 2000 when they bought

graduated from Elon College and returned to             blessed us to be able to acquire property and               land to expand the blueberry business and

the family business as well. In 1997, Amanda            continue expanding. We are very fortunate.”                 they refinanced their house at the same time.

married Joey Benton and about five years                      All three families are Cape Fear Farm                 “One of the best things about doing business

later, after many years as an electrician,              Credit members of the Burgaw office. Chester                with Cape Fear Farm Credit is they pay us to

Joey was excited to become actively involved            remembers his first loan from CFFC several                  do business with them. I don’t even talk to

in the blueberry business as well. Joey said,           years ago. He said, “I went to Jim Fouche                   other lenders anymore. CFFC gets an A+,”

“Being self employed is rewarding because               in the Burgaw office and told him I’d like                  Joey said with confidence!
                                                                                                                          The blueberry industry is separated
                                                                                                                    into two market categories: fresh market
                                                                                                                    and process market. Currently, about eighty
                                                                                                                    five percent of Sweet Berry Farms’ crop
                                                                                                                    is dedicated to the fresh market and the
                                                                                                                    remaining to the process market for the food
                                                                                                                    processing industry. SunnyRidge Farm, Inc., a
                                                                                                                    marketer out of Florida, handles the marketing
                                                                                                                    and shipping of their fresh product. Chester
                                                                                                                    Barnhill was most impressed with SunnyRidge
                                                                                                                    Farm because they would buy their late berries
                                                                                                                    while many other brokers were not interested
                                                                                                                    in the late varieties. Most of their berries are
                                                                                                                    consumed in the United States and Canada
Be sure to look for the SunnyRidge Farm label the next time you are in your local supermarket!

                                                                     Cape Fear Farm Credit     6
A view of the migrant houses that were built in 2008

                                                                                                         the implementation of these two technologies
                                                                                                         they are getting much better yields and it
           “In 2008, Cape Fear Farm Credit                                                               allows them to harvest certain varieties

           funded a project for Sweet Berry                                                              after only one year in the ground. Overhead
                                                                                                         irrigation is advancement in technology that
            Farms, along with several other                                                              is integral to the blueberry industry. When
        blueberry farmers in the area, to build                                                          used for Frost Freeze Protection the water

         migrant houses to give some of their                                                            creates an insulated coat around the berries
                                                                                                         keeping them above 32 degrees. Chester
          key employees a clean, comfortable                                                             commented that Kiah and Joey have done a

        and convenient place to stay while they                                                          tremendous job irrigating during dry weather
                                                                                                         and also during the winter. The effectiveness
                  work on the farm.”                                                                     of fungicides in eliminating disease has
                                                                                                         been another instrumental advancement

and are even sold in some of the local grocery         Sweet Berry Farms, along with several other       that helped make the blueberry industry

stores and membership warehouses like                  blueberry farmers in the area, to build migrant   consistent. Several years ago, they adopted

Costco and Sam’s Club. The blueberry season            houses to give some of their key employees a      a new clamshell package with hinged, snap

runs from mid-May to early August. During              clean, comfortable and convenient place to        fit lids. The plastic packages allow the

peak season, you will find upwards of 800              stay while they work on the farm.                 berries to properly vent and help make the

contract workers at Sweet Berry Farms. These                Over the years, the blueberry industry       packing process much more efficient. They

workers, consisting of pickers in the fields,          has changed, there have been tremendous           now package between 800 and 900 flats per

tractor drivers and packing plant workers,             advancements in technology and the Barnhills’     hour, per assembly line! In 2008, Sweet Berry

are critical to the success of this blueberry          and Bentons’ have learned a lot through           Farms produced 20 percent of the total fresh

operation. They hand pick about 80 percent             this venture together. Some of the biggest        volume in the entire state of North Carolina.

of the berries that are harvested for the fresh        changes they have seen in the industry                 As you enjoy fresh blueberries and

market, so it takes a considerable amount of           were the use of plastic mulch and the drip        homemade blueberry cobbler this summer,

hard workers to accomplish this task. In 2008,         irrigation system. Typically, blueberries are     remember the hard work that goes into getting

Cape Fear Farm Credit funded a project for             ready to harvest after three years, but with      those berries from the fields to your table!

                                                              Cape Fear Country Spring 2009   7
                                                                YBS S Potlight

                                                   James lamb
                                                 A farmer since childhood

   t’s more than just a job for this young        James said, “My mom worked at Black &
   farmer in Sampson County… it’s a passion       Decker in Fayetteville, so my dad would
   for the pork industry and agriculture as a     babysit me while she was at work. Babysitting
whole and a love for his family and community     back then meant tagging along with him on
that shines through after spending just a         the farm.” Their farming operation consisted
few minutes with James Lamb. He’s better          of corn, soybeans, tobacco, produce and a few
known as “Cookie” to many friends, family         hogs and cows. He loved driving a tractor and
and colleagues in Clinton, NC. His father gave    helping his father with the daily chores. In
him that nickname when he was just a baby.        fact, his mother, Thelma, still lives on the
No one knows exactly where it came from,          family farm where she raised her children.
but one thing is for sure, the nickname stuck!    Thelma commented, “Cookie was driving a
     James is a young, beginning and small        tractor at eight years old. He was just a little
farmer in Clinton where he has held many          thing. His father passed away when he was
positions with Prestage Farms, Inc. since 1996    16, so he had to learn how to farm and tend
and has been a contract nursery grower for        to the animals.”
eleven years. James was the youngest of six            Upon high school graduation, James            James lamb (left) and his mother, thelma lamb,
                                                                                                     holding two pigs from the nursery
kids and as a small child, James remembers        went off to North Carolina State University
working on the family farm with his father.       where he majored in Agriculture and Envi-

                                                             Cape Fear Farm Credit   8
ronmental Technology. In 1994, James began
an internship with Prestage Farms. “I knew I
wanted to stay in Sampson County, and I set
two goals for myself during that internship.
I wanted to become a service manager with
Prestage, and I wanted to build a nursery,”
said James. Since graduating from college in
1996, James accomplished his goals and has
certainly dedicated his professional career to
Prestage Farms. Right out of college, he began
his career with Prestage Farms as a farrowing
assistant, was promoted to an onsite nursery
manager, then spent time in the land manage-      CFFC Clinton Loan Officer Nelson Powell (center) with James Lamb and his mother, Thelma
ment division, became a finishing service
manager for six years and then moved back
to land management in 2003. Since 2003, his                “I’d heard other contract growers say
role as environmental specialist has involved
                                                            good things about Cape Fear Farm
an abundance of responsibilities. He performs
swine lagoon sludge surveys and was actively               Credit, Nelson was able to match the
involved in the design of a remote-controlled
                                                            bank’s rate and with the patronage
boat. Typically, a job that would take two men
to perform now only takes one man about                    program it just made sense. I've had a
five to ten minutes to complete. The remote-                      great experience so far.”
controlled boat, powered by a leaf blower,
has definitely made the job more efficient and
safer. He typically completes about 350 lagoon    about his experience as a member of the               Nelson stopped by and left a business card on

sludge surveys per year. He also handles all      2008 National Pork Board’s Pork Leadership            James’ pump house door. A year or so after

the calibrations for the company and contract     Academy, or lobbying in Raleigh, NC or Wash-          James found that business card, he became

farms, and he manages the pumping records         ington, DC. James said, “The goal is to put a         more and more frustrated with his current

for about 60 farms. Although his job probably     face on agriculture to help people understand         lender. The bank had recently gone through

seems overwhelming to most, James said            that contract growers are individual, smaller         several mergers, and when he called the bank

with a smile, “Yes, I stay busy, but it gives     family farms. It’s not just the big corporate         he would quickly get transferred to India for

me a chance to see all of our contract swine      farms that provide the pork; the small family         support. During that same time, James was

growers.”                                         farms have an important part in the process           also thinking about doing some remodeling

     James married his high school sweet-         as well.” You will also see him promoting the         to his 3,040 head nursery facilities, so in

heart, Felecia Lamb, a fourth grade teacher at    “We Care” program that has become a national          May 2008 he decided to give a local lender

Sunset Avenue Elementary School. Together,        pork industry initiative to help build trust and      a try. James said, “I’d heard other contract

they have two wonderful daughters: Maegan,        social responsibility.                                growers say good things about Cape Fear

age 8, and Kensley, age 3.                             So, how did James become a Cape                  Farm Credit, Nelson was able to match the

     In addition to his devotion to his family,   Fear Farm Credit member? Well, Clinton                bank’s rate and with the patronage program

his contract nursery and environmental            Loan Officer Nelson Powell and James both             it just made sense. I’ve had a great experi-

specialist role with Prestage, James has          went through high school together and were            ence so far.” Nelson said, “James is one of

become involved in the political and promo-       reacquainted during a Prestage internship             the neatest farmers in this area. He’s a very

tional aspects of the pork industry. You might    during college, but it was many years later           genuine person, and everyone always says

find him serving on the North Carolina Pork       when James began doing business with Cape             great things about him.”

Council Board of Directors, telling stories       Fear Farm Credit. One afternoon in 2006,

                                                         Cape Fear Country Spring 2009   9
                                                           F F A Student Pe RSP e Ctive

                                                      What has FFA taught you about leadership and work ethic?

                                                          joined FFA not really knowing what it          life. These workshops are a way for young
                                                          was or what it had in store for me. I had      people to help teach each other while being
                                                          no idea that I would one day be chapter        led by an officer who is around the same age
                                                      president! I went to the monthly meetings,         as the students. I believe that students learn
                                                      but what really got me hooked was when I           better and are more willing to learn when
                                                      attended the State Leadership Conference,          they are being taught by their peers. These
                                                      or SLC, that summer. I was amazed at all the       workshops are also a great way to meet other
                                                      things I learned and all the friends I made in     FFA members from around the state and
                                                      that one week at White Lake! I knew that this      even around the country who have some of
                                                      organization was something that everyone           the same goals and desires as you do. I have
name of student: georgianna Carol honeycutt
                                                      needed to be involved in.                          met many people in my four years in FFA and
high school and grade: Midway high School,                 Through my participation in FFA, I have       some of them have become very good friends
Senior                                                first and foremost developed leadership skills     and I still keep in touch with today.

FFa advisors’ name: Scott Jolly and gerald            that I will continue to use throughout my life.         Being elected as chapter president has
Barlowe                                               I have developed public speaking skills from       been a challenge for me, but I have also
                                                      reciting the FFA creed and making speeches         learned many things from it. This position
FFa involvement: i have been involved in FFA
all 4 years of high school and i currently serve as   to the class as part of the curriculum in each     has strengthened my work ethic and my time
chapter president. i have participated in several     agriculture education class. The parliamentary     management skills because I have to work very
Cdes such as parliamentary procedure, livestock       procedure career development event, or CDE,        hard to keep up with my presidential duties
judging, and dairy judging. i have been to FFA
                                                      has really helped me become a better leader        while also keeping up with my schoolwork.
camp every summer and i traveled to national
Convention in indianapolis twice. i have received     and public speaker. As chapter president, I        The officer team and I have worked very hard
my greenhand and my Chapter degrees and i was         must lead the meetings and I do not want           to try to create fun and meaningful activities
named the FFA outstanding Junior.                     to let my team members down. Other CDEs            for our members so they will hopefully be able

other extra-curricular activities and academic/       that I have participated in, such as livestock     to experience all the things that FFA has to
athletic/community achievements:                      judging and dairy judging, have helped me          offer them.
Beta Club, history Club, Science Club, Foreign        develop study skills and problem solving skills.        Unlike a lot of students in the Midway
language Club, Journalism Staff, Junior Marshall,
                                                      I learned study skills because there was lots      community, I am not your typical farm kid.
Summer ventures in Science and Mathematics par-
ticipant, 2008 Rural electric Summer Youth tour       of information I needed to know about each         My parents do not own a farm; therefore, I did
participant, Career and technical education honor     animal in order to be successful at the contest    not know how important agriculture was until I
Society member, teen Miss Sampson County              and my problem solving skills improved as I        joined the FFA as a freshman. I did not realize
Christmas, Sampson County department of Aging
                                                      had to determine how to place the animals.         that agriculture reaches far beyond the limits
volunteer, Alzheimer’s Memory Walk team captain
                                                           By attending sessions and workshops,          of farming. I believe that the FFA is truly the
additional information: My parents are Kenneth        such as the ones at SLC and RLC, or Regional       greatest youth organization in the world and
and Regina honeycutt. i have one brother, Brandon
                                                      Leadership Conference, I have learned lead-        it is my dream that every student will realize
honeycutt. i am a member of Piney green Baptist
Church.                                               ership skills that will help me succeed in         what FFA has to offer them and that they will
                                                                                                         become members. I want others to have the
                                                                                                         same amazing FFA experience that I have had
                                                                                                         during my high school years.

      I believe that the FFA is truly the greatest
          youth organization in the world...

                                                                 Cape Fear Farm Credit   10
                                                 FFA Student Perspective

                                                         What is your opinion of the benefits and importance of having an
                                                         agriculture education program like FFA available to you at your

                                                                 he future of our generation and             academic and personal goals in working with
                                                                 those to come greatly depends on            the environment. This can also enable me to
                                                                 our deeds and actions, not words.           help in my community with regulating the
                                                         It is important for everyone, especially the        cleanliness of air and water. I strongly believe
                                                         young, to strive and at least attempt to better     we must respect others and that American
                                                         ourselves, our community and our country            agriculture and natural resources can continue
                                                         through perseverance of helping in all              to be the world leaders that globally we need
                                                         aspects of agriculture. The FFA is aiding and       today, to make a difference of ours and future
                                                         preparing me as a person to achieve both my         generations.
name of student: Kayle Corcoran

high school and grade: overhills high School,
                                                                      …The FFA is aiding and preparing
FFa advisor’s name: Bob Sherman
                                                                      me as a person to achieve both my
other extra-curricular activities and academic/
athletic/community achievements: Beta Club,                            academic and personal goals in
Flag team, Relay For life, overhills leadership
team, girl Scouts                                                      working with the environment.

   No purchase necessary. Promotion
   ends 10/31/09. Must be at least 18
   years old to enter. For Official Rules
   and details visit www.ikeepitrural.
   com. Void where prohibited

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                                                                Cape Fear Country Spring 2009   11
                                                            legi S lA tive u Pd Ate

                           Farm Credit Commentary
           Farm Credit–
          A Successful GSE
    n the wake of the federal government’s        the rural sector. We obtain our funds from        misstatements. Significantly, it is regulated
    takeover of the nation’s housing GSEs,        the sale of AAA-rated Farm Credit bonds to        by the Farm Credit Administration, an inde-
    Fannie Mae and Freddie Mac, the Farm          investors in the nation’s money markets. And      pendent federal agency with strong and broad
Credit System stands as an example of every-      because Farm Credit is a network of coop-         enforcement, examination and oversight
thing that is right and working with GSEs         eratives, our stockholders are the people who     authorities.
(government-sponsored enterprises).               borrow money from us. Unlike the housing
                                                  GSEs that were publicly traded, our earnings      Self-insured
     As the nation’s first GSE, Congress
                                                  are either retained for additional lending        Farm Credit has established its own insurance
chartered the Farm Credit System in 1916
                                                  to agriculture or they are returned to our        fund that is administered by the government,
to ensure a permanent source of reliable
                                                  borrowers in the form of patronage. Either        to serve as a first line of defense in the event
and competitive credit for the agriculture
                                                  way, the benefit flows back to agriculture and    of financial difficulty. Farm Credit’s self-
industry and rural America. Over the years,
                                                  rural America. Also, as cooperatives, Farm        imposed insurance fund is $2.7 billion on
Farm Credit has accomplished that mission
                                                  Credit institutions operate under the direction   $208 billion worth of assets. The housing
and continues to play an important role in
                                                  of boards of directors elected by borrowers.      GSEs did not have such an insurance fund. In
the economic viability of agriculture and rural
                                                                                                    addition, Farm Credit institutions are jointly
communities throughout the country.
                                                  Managed growth                                    and severally liable for each other’s debt, so
Why is Farm Credit different? There are           Farm Credit lending standards remain              if one institution gets in trouble, the other
several reasons:                                  conservative, so our credit quality is excep-     institutions — not the taxpayers — come to
                                                  tional. Moreover, the Farm Credit System is       the rescue.
Well Capitalized                                  very small compared to the housing GSEs.
Farm Credit’s mission is to support agricul-
                                                  Although Farm Credit is growing (at a rate of     Retail lending
ture — not the nation’s housing industry — so                                                       Farm Credit, unlike the other GSEs, is a retail-
                                                  16 percent in 2007) and remains financially
when people talk about the housing GSEs, they                                                       lending organization. Our local financing
                                                  strong, we have managed that growth and
are not talking about Farm Credit. Fannie                                                           cooperatives deal directly with individual
                                                  are not outgrowing our ability to remain safe
and Freddie were hurt because their capital                                                         borrowers and have extensive experience and
                                                  and sound. Farm Credit’s assets totaled $208
eroded due to delinquencies on mortgage                                                             knowledge in agriculture and rural lending.
                                                  billion at mid-year 2008. This compares to the
loans. Farm Credit is still well positioned, at                                                     Fannie and Freddie are wholesale institutions
                                                  trillion-dollar housing GSEs.
about 13 percent capital. Moreover, nonper-                                                         that buy and secure mortgages from commer-
forming loans constituted only 0.55 percent       independently Regulated                           cial banks and mortgage lenders throughout
of the Farm Credit System’s loan portfolio at     Farm Credit’s regulatory structure is on solid    the country.
June 30, 2008, consistent with the continued      ground, with a longstanding record of having
                                                                                                         Not all GSEs are alike. The Farm Credit
strength of the U.S. agricultural economy.        and using many of the tools that Fannie and
                                                                                                    System serves as a shining example of how
                                                  Freddie only recently started to implement
no Public trading                                 as part of the housing reform legislation
                                                                                                    government-sponsored enterprises can and
                                                                                                    should work. Farm Credit remains sound, as it
Farm Credit is structured differently than the
                                                  adopted by Congress this year. Unlike Fannie
                                                                                                    continues to successfully fulfill its mission.
housing GSEs, and it is this structure that
                                                  and Freddie, the Farm Credit System has not
plays a big role in how Farm Credit supports
                                                  experienced accounting irregularities and

                                                            Cape Fear Farm Credit   12
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                               Cape Fear Country Spring 2009   13
                                                           C oMM unit Y n e WS & e vent S

    AgForum with

        n Friday, March 27, 2009, the North
        Carolina Agribusiness Council and
        Cape Fear Farm Credit co-hosted
an AgForum, lunch and discussion with
Congressman Mike McIntyre. The event took
place at Allen Brothers Hunting Preserve in
                                                     (From the left) CFFC directors lyle Ray King and Ron Allen, Congressman Mike Mcintyre, CFFC Marketing
                                                     Manager Skipper Jones, CFFC President and Ceo Richard eason
Bladenboro, NC. Congressman McIntyre
began the discussion with an update on               concerns of the ag leaders and told the group         Strickland, Elizabethtown Loan Officer Brook

several key ag issues, and then participated         that he would take their concerns back to             Hall, Lumberton Branch Manager Betty Kay

in a question and answer session on multiple         Washington, DC.                                       Williams, Directors Ron Allen and Lyle Ray

topics including immigration, the Farm Bill,               Representing Cape Fear Farm Credit at           King and several Cape Fear Farm Credit

alternative fuel development and other topics        the event were President and CEO Richard              members were in attendance as well.

that are impacting the agribusinesses in our         Eason, Marketing Manager Skipper Jones,

area. Congressman McIntyre listened to the           Elizabethtown Branch Manager Brandon

                                           Murphy Brown vendor expo

        n Tuesday, March 17, 2009, Cape              booth at the expo, and employees from several         latest technology, equipment and products.
        Fear Farm Credit participated in the         Cape Fear Farm Credit branches attended               The turnout was impressive and overall the
        Murphy-Brown Vendor Expo. The                the event and spent time with members and             expo was a great community event.
expo was held at the Duplin Events Center            prospective customers. The one day event
in Kenansville. Cape Fear Farm Credit had a          featured over 150 vendors that displayed their

CFFC Kenansville Branch Manager Robin Albertson (center) with CFFC               Cape Fear Farm Credit elizabethtown Branch Manager Brandon Strickland
Kenansville members Rex halso (left) and Yates ivey (right)                      (right) with elizabethtown member Misael “Mitch” Aleman

                                                                Cape Fear Farm Credit   14
                                         Southern Farm Days
                                                        Wholesome Family Fun!

       he Southern Farm Days Show was
       held on March 21 – March 22 at the
       NC Boys and Girls Home arena. An
estimated 6,000 people attended the two day
show and saw how farm life was long ago. The
weekend was filled with antique tractors, a
draft horse pull, old time farm demonstra-
tions, a Civil War reenactment, wonderful
food, front porch music and so much more.
The Cape Fear Farm Heritage Association
organized the event and donated the proceeds
to the Boys and Girls Home of North Carolina.
     The event was educational for children
and a time to reminisce for adults. The
Southern Farm Days Show will be held on a
yearly basis, so go ahead and make plans to
attend next year!

                                                      A view of the kids tractor pull

Whiteville members Mr. and Mrs. A.W. Clemmons enjoying the antique tractors        Singing from the “front porch”

                                                              Cape Fear Country Spring 2009    15
                                                            C o MM unit Y n e WS & e vent S

                         Farm Credit Sponsors Annual n.C. Minority
                            landowners and Farmers Conference

       he 6th Annual North Carolina Minority                Cape Fear Farm Credit also had a booth           a Successful Farm Loan Application” with the
       Landowners and Farmers Conference              at the event where several CFFC employees              group. The two day event was packed with
       was held on February 13 – 14, 2009             had the opportunity to visit with current              other educational topics, including alternative
at the North Raleigh Hilton in Raleigh, NC.           members and prospective customers. CFFC                energy, agronomy, conservation tools, organic
Over 300 farmers, landowners and exhibi-              Chief Relationship Manager Jay Smith,                  farming, food safety and livestock opportuni-
tors attended this two day event. Cape Fear           Marketing Manager Skipper Jones and Dunn               ties. The conference brought educational and
Farm Credit along with AgCarolina Financial,          Loan Officer Kelly Christensen attended the            useful information to the minority landowners
Carolina Farm Credit and AgFirst Bank were            event. Jay Smith was one of the presenters for         and farmers and each year the event continues
platinum sponsors for this event.                     the event, and he discussed “Keys to Preparing         to grow.

(From the left) CFFC dunn member donnie Williams, CFFC Marketing Manager          CFFC Chief Relationship Manager Jay Smith (far right) was a presenter at the
Skipper Jones, CFFC Dunn Loan Officer Kelly Pope and Lumberton member Ronnie      conference

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                                                                 Cape Fear Farm Credit       16
          Eastern North Carolina Farmers
                Eligible for Grants

        rants totaling $1.5 million over the       rience has shown that farmers utilize these
        next three years will be awarded to        grants for innovative, resourceful and profit-
        eastern North Carolina farmers and         able enterprises that can make a huge impact
clients in Cape Fear’s service area are strongly   on their farming operation.”                               The ultimate impact is preservation of

encouraged to check out this innovative                 Former and current tobacco farmers are           the family farm. Grant recipients are encour-

opportunity.                                       the primary audience. However, farmers living         aged to explore crop diversification, new

     The N.C. Tobacco Trust Fund Commis-           in tobacco dependent communities are also             product/crop ventures, and test new ways to

sion announced the funding recently and will       eligible to apply.                                    replace lost tobacco income.

partner with Rural Advancement Foundation               Individuals or farm groups such as local              The N. C. Tobacco Trust Fund Commis-

International (RAFI-USA) to accept applica-        commodity organizations or farmers markets            sion was established in 2000 by the NC

tions and monitor the grant recipients.            may apply.                                            General Assembly to manage funds that

     This state-wide grant program was                  RAFI-USA will oversee the grants during          are part of the Tobacco Master Settlement

initiated to lessen the economic distress          the three-year program. Applications may be           Agreement. The Commission’s grants target

caused by soaring input and energy costs           obtained this spring from local cooperative           farm areas that have historically depended

and the lingering effects of the state’s drought   extension offices or online at       upon tobacco income through farming or

conditions.                                        A series of regional informational workshops          tobacco-related businesses. For more infor-

     “We anticipate a large number of farmers      will be held across the region during the             mation visit or call

benefitting from this unique opportunity,” said    summer months. Grant recipients will be               910-542-1396.

William Upchurch, Executive Director of the        announced this fall.
Tobacco Trust Fund Commission. “Our expe-

         Cape Fear Farm Credit Sponsors the three Rivers Federation FFA

        he Three Rivers Federation consists
        of West Columbus High School,
        East Columbus High School, South
Columbus High School, East Bladen High
School, West Bladen High School and
Whiteville High School and the Federation
Advisor is Fred McPherson. The Whiteville,
Shallotte and Elizabethtown branches of Cape
Fear Farm Credit help sponsor this group of
students. Three Rivers FFA uses this spon-
sorship money to pay for their awards and
trophies that are given out to deserving
students at the yearly Federation Banquet          FFA students Scarlett Stanley, olivia Strickland, trent Bostic, Brandon McKee, Megan Malpass, dustin
and throughout the year.                           Matthews, nick Powell, donny Jernigan and Andrew Watts pictured with Advisor Fred McPherson,
                                                   CFFC Whiteville Loan Officer Becky Thompson, CFFC Elizabethtown Loan Officer Brook Hall and CFFC
                                                   elizabethtown Branch Manager Brandon Strickland

                                                          Cape Fear Country Spring 2009   17
                                                                  C o MM unit Y n e WS & e vent S

     Volunteers at

                                                            the students completing their test at the aquatic station.

        wo employees of the Cape Fear Farm                  resources—soils, forestry, wildlife, aquatics            students completed their tests at each station.
        Credit Elizabethtown branch volun-                  and current environmental issues. Students               Teams from Bladen, Columbus, Cumber-
        teered at the Area VII Envirothon                   visit the five test stations where written and           land, Harnett, Hoke, Richmond, Robeson,
held April 1, 2009. Jones Lake State Park in                hands-on problem solving is required. Branch             Sampson and Scotland counties competed
Bladen County was the setting for this year’s               Manager Brandon Strickland and Loan Officer              in the competition. The top seven teams for
event. Envirothon is a problem-solving natural              Brook Hall participated in the half day event            both middle and high school events advance
resource competition for middle and high                    at Jones Lake State Park. Brandon Strickland             to the state competition which will be held in
school students. The event is designed to                   helped with the written test at each station,            Burlington, NC.
test students on their knowledge of natural                 and Brook Hall helped grade the tests as the

Students at the wildlife station listen to a lecture before taking their test.                                       CFFC elizabethtown Branch Manager Brandon
                                                                                                                     Strickland and Elizabethtown Loan Officer Brook
                                                                                                                     hall were volunteers for the event.

                                                                         Cape Fear Farm Credit   18
South Lenoir High School was the 2009 first place winner

            FFA Chapters Participate in
           State FFA land Judging event

       he 55th Annual North Carolina FFA               about soils can be organized and applied in
       Land Judging Career Development                 the managing farms, fields and woodlands,
       Event was held at Clinton High School           developing communities as well as engineer-
on April 3rd & 4th 2009.                               ing work. Students are able to comprehend
     In early April 1955, 188 FFA members              why soils respond differently to management
met on a parcel of land in Harnett County near         practices and how soil properties affect crop
Dunn, North Carolina where Interstate 95               growth and urban uses.
was being constructed. It was on this site that             This event is one of 42 different career
the first “Soil Appreciation and Soil Judging          development events offered to North Carolina
School” was held. Fifty-five years later,              FFA members on the state level. South Lenoir
hundreds of FFA members from across the                High School was the winning team at this
                                                                                                       A group of students participating in the FFA land
state traveled to Sampson County to partici-           year’s Land Judging Career Development
                                                                                                       Judging Career development event
pate in this year’s event. This event encour-          Event. Cape Fear Farm Credit Clinton Loan
ages students to analyze land characteristics          Officer Nelson Powell was one of the judges
such as soil type, erosion and drainage to             for this year’s event.
determine the best possible use. Knowledge

                                                              Cape Fear Country Spring 2009   19
                                                           ASS oCi Ation ne WS

              Cape Fear Farm Credit Announces 23%
         Patronage Refund at Annual Stockholders’ Meeting

    he 2009 Annual Stockholders’ Meeting
    was held on February 19, 2009 at the
    Fayetteville Crown Expo Center. A
chicken and barbeque dinner was enjoyed
by over 800 members, guests and employees.
Congressman Bob Etheridge shared a few
words about the future of Southeastern North
Carolina agriculture, the business session
was held and the meeting concluded with a
drawing for cash door prizes.
     During the meeting, Cape Fear Farm
Credit was excited to announce the 23%
patronage refund! This all cash patronage
refund represented 23% of the accrued
interest on members’ loans in 2008. Once
again, we are able to share our profits with
our members by putting profits in your
pockets! We have paid patronage refunds for
21 consecutive years, distributing more than
$153 million to our borrowers.
                                               lillington Branch Manager Joan daughtry (right) giving one of the cash door prizes to CFFC members
                                               durwood and Peggy Barefoot

                                                                                                      left: Lumberton Loan Officer Kevin Kinlaw (left)
                                                                                                      with lumberton members harold and Sallie Chavis

                                                                                                      Below: CFFC Principal Appraiser Wayne Strickland
                                                                                                      (middle) with CFFC dunn members
                                                                                                      Jeff and Cindy Sessoms

                                                          Cape Fear Farm Credit   20
                                                                left: (From the left) CFFC Raeford/laurinburg
                                                                Branch Manager Will Maxwell, CFFC member
                                                                Rob Miles, CFFC Raeford/laurinburg loan
                                                                Officer Rebecca Wood

                                                                Bottom left: CFFC members waiting in line to
                                                                enjoy Bill ellis’ BBQ!

                                                                Bottom right: FFA students from Cape Fear
                                                                high School helped assist with the Annual

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                           Cape Fear Country Spring 2009   21
                                                               ASS oCi Ation ne WS

                                                                Members elected to Serve on
                                                                 CFFC Board of directors

Ronald J. Allen

Jimmy Frederick                                     Jonathan A. Pope                                  Arnold d. Smith

        hortly after the 2009 Annual Stock-         serves as President of Border Belt Quail          His 950 acre farming operation includes
        holders Meeting, two new members            Unlimited and as Supervisor of the Bladen         tobacco, soybeans, Bermuda hay and
        and two incumbents were elected to          County Soil and Water District.                   timber. His livestock operation includes 10
serve on the Cape Fear Farm Credit Board                                                              poultry houses and a 50 head brood cow/calf
of Directors.                                       Jimmy Frederick                                   operation. Mr. Pope has been a Farm Credit
                                                    Mr. Frederick is a lifelong resident of Duplin    member for 11 years. He is a member of Coats
Ronald J. Allen
                                                    County where he has been farming for 28           United Methodist Church where he serves as
Mr. Allen, age 61, is a life-long resident of
                                                    years. His 550 acre farming operation consists    President of the United Methodist Men.
Bladen County where he has been involved
                                                    of corn, soybeans and tobacco. In addition, his
in farming for 22 years. Mr. Allen’s 650
                                                    livestock operation consists of eight turkey      Arnold D. Smith
acre farming operation includes row crops,
                                                    houses. He has been a Farm Credit member          Mr. Smith is a life-long resident of Cumber-
timber, and a hunting preserve. In addition,
                                                    for 15 years. Mr. Frederick serves on the board   land County where he has farmed for 29
his livestock operation includes 8 swine
                                                    of Duplin County Farm Bureau. He also is a        years. His 1,576 acre farming operation
nurseries, 12 poultry houses, and a 150-head
                                                    member of Warsaw United Methodist Church,         includes tobacco, row crops and timber. He
beef cow/calf operation. He has been a Farm
                                                    where he serves as a Trustee and a member         also manages 1,200 acres leased for cotton
Credit member for 16 years during which he
                                                    of the Finance Committee.                         production. Mr. Smith has been a Farm Credit
has served as a director for 6 years. In addition
                                                                                                      member for 28 years during which he has
to farming, Mr. Allen was Executive Director
                                                    Jonathan A. Pope                                  served as a director for three years. He is a
of Materials Management for Southeastern
                                                    Mr. Pope is a lifelong resident of Harnett        member of Beaver Dam Baptist Church.
Regional Medical Center in Lumberton, N.C.
                                                    County where he has farmed for 13 years.
where he retired in April 2008. Mr. Allen

                                                              Cape Fear Farm Credit   22
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                                 in offering only the highest quality products to ensure exceptional longevity
                                 with minimal maintenance requirements. Nichols Post Frame Buildings carry a
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                                                  Cape Fear Country Spring 2009           23
                                                                   Fe A tu Re
                                                             A SS oCi Ation ne WS

                                Around Cape Fear Country...
                            2009 Customer Appreciation Events
                            Take Place for Several CFFC Branches

          arch was a busy time for several
          Cape Fear Farm Credit branches
          as they held Customer Appreciation
events. The end of March was also an exciting
time for Cape Fear Farm Credit members…
the patronage checks arrived! The Lumberton
branch hosted a steak dinner at the South-
eastern NC Agricultural Center and Farmers
Market in Lumberton on Monday, March 30,
2009. Members picked up their patronage
checks and enjoyed a delicious steak dinner.
On Tuesday, March 31, 2009, the Elizabeth-
town branch held their Customer Apprecia-
tion Dinner at Lu Mil Vineyard. The evening
was filled with wonderful food, fellowship,
patronage checks and door prizes!

                                                  CFFC elizabethtown members Channing and lauren gooden with their children

Connor Smith helps CFFC elizabethtown loan
Officer Brook Hall draw names for the door
prizes. Connor is the son of CFFC members david
and Ashton Smith and the grandson of members
Wayne and Susan Smith.                            CFFC elizabethtown members Jimmy and Silvia Smith with grandson Kirkland Smith

                                                             Cape Fear Farm Credit   24
(From the left) CFFC lumberton loan Assistant vickie Walters, CFFC member ida Pearl Sutton, lumberton        CFFC lumberton Branch Manager Betty Kay Wil-
Loan Officer Ginny Martin and CFFC member Horace Sutton                                                      liams (left) with members elsie and Bruce Faulk

CFFC members had the chance to pick up their          CFFC elizabethtown members Richard and gloria Allen getting their patronage refund check!
patronage checks!

                                                                                                             CFFC member david dent and his grandson, tyler
CFFC Lumberton Loan Officer Kevin Kinlaw (right) with member Mark Roberts and his son, Dalton                Andrews

                                                             Cape Fear Country Spring 2009      25
                                                                  tid Bit S

                        Newsworthy Members and Employees

       everal Cape Fear Farm Credit Members    on Sunday, March 29, 2009. Corey began the           acre. CFFC Director Bo Stone received
       were recognized at the Duplin Agri-     performance-based achievement seven years            second place with 90.84 bushels per acre.
       business Council Annual Meeting on      ago. Only 5% of Scouts achieve the goals for         Third place went to CFFC member Tommy
January 29, 2009. CFFC Kenansville member      the Eagle Badge based on citizenship training,       Lynn Stone who produced 88.96 bushels
Jack Alphin of Mount Olive was awarded the     character development, and personal fitness.         per acre.
2009 Melvin Cording Service to Agriculture     Corey’s final Eagle Scout Service Project                  The Soybean Yield Contest winners were
Award for his leadership in agriculture. The   was titled “Flames of Freedom” where he              also announced. First place went to CFFC
2008 Corn Yield Contestant winners were        performed a Flag Retirement Ceremony and             Director Bo Stone with 63.06 bushels per
also announced. Third place went to CFFC       led a Fire Prevention Day for the community.         acre. Member Ken Rogers was the second
Kenansville member Lee Swinson for             At the closing of the Eagle Scout Court of           place winner with 59.40 bushels per acre and
producing 177.62 bushels of corn per acre.     Honor, Corey pinned his mother with a                member Carey Brixey won third place with
Henry and Edward Dail received second          Mother’s pin, and pinned his grandmother             57.03 bushels of soybeans per acre.
place in producing 177.82 bushels per acre.    and grandfather with a Mentor pin.                         CFFC Raeford member Henry Forbis
First place went to Ralph Britt, Jr. who            The Robeson County Crop Promotion               was the recipient of the Robeson County
produced 224.60 bushels per acre.              Association’s Annual Awards Banquet was              Young Farmer of the Year Award.
     Patrick “Corey” Fields, son of Taylor     held on February 10, 2009. Several Cape                    The Pete Roberts Family was named
Fields of Red Springs, NC and grandson of      Fear Farm Credit Members were recognized             the Robeson County Family Farm of the Year.
CFFC Lumberton member Corbett Fields,          for the accomplishments at the event. The            Pete and Barbara Roberts have two sons,
Sr. of Evergreen, NC, received the highest     Wheat Yield Contest winners were announced.          Kevin and Mark. Kevin and his wife Paula
advancement rank of Eagle Scout at Trinity     First place went to CFFC Lumberton member            have two children: Kelly and Cameron. Mark
United Methodist Church in Red Springs, NC     Roger Oxendine with 102.26 bushels per               and his wife Kristina have two children as

Corey Fields                                   CFFC lumberton Branch Manager Betty Kay Williams (holding award) with Pete Roberts and his family

                                                          Cape Fear Farm Credit   26
Kay Mcgirt (right) receiving the Farmer of the Year award from david hodge         Rhett is pictured with his father, Jay, and new yellow lab puppy, Rocky
with Pioneer

well: Taylor and Dalton. They are all CFFC                                                                     spirit of liberty and freedom. During Chase’s
Lumberton members.                                                                                             speech at the ceremony, he proudly said,
     The Robeson County Farmer of the Year                                                                     “I hope that when you pass by this location
was awarded to Kay McGirt. He is also a                                                                        you will appreciate all the hard work that has
member of the Lumberton CFFC branch.                                                                           been put in to the standing of this flag pole.”
     The Distinguished Service to Agriculture                                                                  Chase is also active in the Sampson County
Award recipient was Ronnie Hammonds                                                                            4-H and recently earned 4-Her of the Year
who is President of the Robeson County                                                                         for 2008.
Livestock Association and he is also a member                                                                        Trooper R.E. Cannaday received the
of the Lumberton CFFC branch.                                                                                  Patrol’s Samaritan Award and a Commen-
     CFFC Lumberton Branch Manager Betty                                                                       dation Award for his heroic action. The
Kay Williams was elected President of the                                                                      Commendation Award is the NC Department
Robeson County Crop Promotion for 2009                                                                         of Crime Control and Public Safety’s second-
– 2010.                                                                                                        highest award for heroism. Trooper Cannaday
     Chase Piercy is the son of Clinton                                                                        saved a woman from a submerged vehicle in
CFFC members Jammie and Kim Piercy.                                                                            Lillington on October 14, 2008. He is a Dunn
Chase is 13 years old and is active in Boy                                                                     branch member.
Scouts of America and is working to earn                                                                             Rhett Burney, age 9, killed his first
his membership to the Order of the Arrow                                                                       turkey on the opening day of 2009 turkey
in the fall of 2009. On March 19, 2009,                                                                        season. He is the son of Elizabethtown
Chase presented his Eagle Scout project to                                                                     members Jay & Tina Burney.
his fellow scouts, parents, employees from
the Cooperative Extension Office and others
in the community. Chase chose to repair the
                                                       Chase Piercy (center) with CFFC Clinton Branch
flag pole at the Sampson County Cooperative            Manager Jay darden (left) and CFFC Clinton loan
Extension because to Chase, the flag shows the         Officer David Sutton (right)

                                                              Cape Fear Country Winter 2009    27
                                                                   tid Bit S

                    Baby Announcements

                                                                                                   Weston Keith Hilburn was born on
                                                                                                   February 28, 2008. He weighed 7 pounds
                                                                                                   and 3 ounces. He is the son of Elizabethtown
                                                                                                   members Keith and Sonja Hilburn of Bladen-
                                                                                                   boro. He is pictured with his big sister Kinley
                                                                                                   Dru Hilburn.

Elizabethtown members Lee and Karen             Elizabethtown members Ryan and Shanna
Johnson are the proud parents of Ashten         Harrelson are proud to announce the birth of
                                                                                                   Jenna Melane Pate was born on January
Willard Johnson. Ashten was born on             their first child, Levi Judson Harrelson.
                                                                                                   24, 2009. She is the daughter of CFFC
February 6, 2009 and weighed 7 pounds and       Levi was born on July 25, 2008 and weighed
                                                                                                   members Michael and Jennifer Pate of
5 ounces. He is the grandson of Elizabethtown   6 pounds and 13 ounces and was 19 inches
                                                                                                   Lumberton. Jenna received a warm welcome
members Greg and Barbara Johnson.               long. He is the first grandson of Elizabeth-
                                                                                                   home by her sisters and brothers (Sydney,
                                                town members Buster and Connie Harrelson.
                                                                                                   Hannah, Rebecca and Jonathan). Her proud
                                                Levi already loves to drive his Case IH pedal
                                                                                                   grandparents, Herman and Doris Madden of
                                                tractor that Papa Buster got him! The family
                                                                                                   Lumberton, are also Cape Fear Farm Credit
                                                is gearing up for Levi to be the next generation
                                                farmer, and a Cape Fear Farm Credit member.

                                   C & D InsuranCe servICe, InC.
                                        Serving the CFFC area since 1957
    Jim Burgin, President                                                                                            Clint Knox, Agent

               Visit our new offices at 53 S. Broad Street, Angier NC 27501
      919-639-2990 or 877-306-2990
                   We Can Meet All Your Farming Insurance Needs.

                                                           Cape Fear Farm Credit   28
                                                                        Re Ci Pe S

              Fresh Blueberries
               it’s that time of year

Blueberry Cobbler
2 1/2 cups fresh or frozen blueberries
1 teaspoon vanilla extract
1/2 lemon, juiced
1/2 cup white sugar, or to taste
1/2 teaspoon all-purpose flour
1 tablespoon butter, melted
1 3/4 cups all-purpose flour
4 teaspoons baking powder
                                                                                 old Fashioned Blueberry
6 tablespoons white sugar                                                        Streusel Muffin
5 tablespoons butter
1 cup milk                                                                       1 cup milk

2 teaspoons sugar                                                                1/4 cup vegetable oil

1 pinch ground cinnamon                                                          1/2 teaspoon vanilla
                                                                                 1 egg
                                                                                 2 cups all-purpose flour
                                                                                 1/3 cup sugar
Lightly grease an 8 inch square baking dish. Place the blueber-
                                                                                 3 teaspoons baking powder
ries into the baking dish, and mix with vanilla and lemon juice.
                                                                                 1/2 teaspoon salt
Sprinkle with 1 cup of sugar and 1/2 teaspoon of flour, then stir in
                                                                                 1 cup fresh blueberries or 3/4 cup frozen (thawed and drained)
the tablespoon of melted butter. Set aside. In a medium bowl, stir
together 1 3/4 cups of flour, baking powder, and 6 tablespoons
                                                                                 Heat oven to 400°. Prepare streusel topping (listed below). Grease
sugar. Rub in the 5 tablespoons butter using your fingers, or cut in
                                                                                 the bottoms of 12 medium muffin cups or insert paper muffin cups.
with a pastry blender until it is in small pieces. Make a well in the
                                                                                 Beat milk, oil, vanilla, and egg. Stir in flour, sugar, baking powder,
center, and quickly stir in the milk. Mix just until moistened. You
                                                                                 and salt and mix just until flour is moist. Batter will be lumpy. Fold
should have a very thick batter, or very wet dough. You may need
                                                                                 in blueberries. Divide evenly among muffin cups. Sprinkle with 2
to add a splash more milk. Cover, and let batter rest for 10 minutes.
                                                                                 teaspoons of the streusel topping and bake 20 - 25 minutes until
Preheat the oven to 375 degrees F (190 degrees C). Spoon the batter over
                                                                                 golden brown. Makes 12 muffins.
the blueberries, leaving only a few small holes for the berries to peek
through. Mix together the cinnamon and 2 teaspoons sugar; sprinkle
                                                                                 Streusel Topping:
over the top. Bake for 20 to 25 minutes in the preheated oven, or until
                                                                                 1/4 cup all purpose flour
the top is golden brown. A knife inserted into the topping should come
                                                                                 2 tablespoons packed brown sugar
out clean - of course there will be blueberry syrup on the knife. Let cool
until just warm before serving.                                                  2 tablespoons firm butter or margarine1/4 teaspoon ground
                                                                                 Mix all ingredients until crumbly.

                                                            Cape Fear Country Spring 2009     29
                                                                                         Cape Fear Farm Credit, ACA
                                                                                         Cape Fear Farm Credit, ACA
                                                                                     Consolidated Balance Sheets
                                                                  Fin An CiA l Re Po Rt           Balance Sheets
                                                                                                                              March 31,                December 31,
                                                     (dollars in thousands)                                                    2009
                                                                                                                              March 31,                   2008
                                                                                                                                                       December 31,
                                                     (dollars in thousands)                                                   (unaudited)
                                                                                                                                 2009                       (audited)
                                                     Assets                                                                   (unaudited)                   (audited)
                                                     Assets                                                               $          1,332             $           1,819
                                                     Loans                                                                $          1,332
                                                                                                                                   761,058             $          1,819
                                                     Loans allowance for loan losses                                                 6,939
                                                                                                                                   761,058                        5,986
                                                       Less: allowance for loan losses
                                                       Net loans                                                                     6,939
                                                                                                                                   754,119                        5,986
                                                        Net loans
                                                     Other investments, held to maturity                                           754,119
                                                                                                                                    23,678                      756,515
                                                     Accrued interest receivable
                                                     Other investments, held to maturity                                             7,474
                                                                                                                                    23,678                        9,826
                                                     Investment in other Farm Credit institutions
                                                     Accrued interest receivable                                                    11,682
                                                                                                                                     7,474                       11,682
                                                     Investment in equipment, Credit institutions
                                                     Premises and other Farm net                                                     3,345
                                                                                                                                    11,682                        3,453
                                                     Other property owned
                                                     Premises and equipment, net                                                       268
                                                                                                                                     3,345                          313
                                                     Due from AgFirst Farm
                                                     Other property owned Credit Bank                                                1,628
                                                                                                                                       268                        6,482
                                                     Other assets
                                                     Due from AgFirst Farm Credit Bank                                               5,537
                                                                                                                                     1,628                        5,832
                                                     Other assets
                                                           Total assets                                                   $          5,537
                                                                                                                                   809,063             $          5,832

     Consolidated                                           Total assets
                                                                                                                          $        809,063             $        824,769

                                                     Notes payable to AgFirst Farm Credit Bank
                                                     Liabilities                                                          $        682,235             $        695,160
                                                     Accrued interest AgFirst
                                                     Notes payable to payable Farm Credit Bank                            $          2,175
                                                                                                                                   682,235             $          2,524
                                                     Accrued interest payable
                                                     Patronage refundpayable                                                           952
                                                                                                                                     2,175                       11,400

                                                     Other liabilities
                                                     Patronage refund payable                                                       17,984
                                                                                                                                       952                        9,711
                                                     Other liabilities
                                                           Total liabilities                                                        17,984
                                                                                                                                   703,346                        9,711
                                                         Total liabilities
                                                     Commitments and contingencies                                                 703,346                      718,795
                                                     Commitments and contingencies
                                                     Members' Equity
                                                     Protected borrower equity
                                                     Members' Equity                                                                    59                           73
                                                     Capital stock and participation certificates
                                                     Protected borrower equity                                                       2,632
                                                                                                                                        59                        2,634
                                                     Retained earningsparticipation certificates
                                                     Capital stock and                                                               2,632                        2,634
                                                     Retained earnings                                                              13,444                       17,699
                                                       Allocated                                                                    89,903
                                                                                                                                    13,444                       85,891
                                                     Accumulated other comprehensive income (loss)
                                                       Unallocated                                                                    (321)
                                                                                                                                    89,903                         (323)
                                                     Accumulated other comprehensive income (loss)
                                                          T l members' equity
                                                                    b '     i                                                         (321)
                                                                                                                                   105,717                         (323)
                                                            T l members' equity
                                                                         b         i
                                                            Total liabilities 'and members' equity                        $        105,717
                                                                                                                                   809,063             $        105,974
                                                            Total liabilities and members' equity                         $        809,063             $        824,769

                                                                               Consolidated Statements of Income
                                                                               Consolidated Statements of Income
                                                                                                                                     For the three months
                                                                                                                                       ended March 31,
                                                                                                                                     For the three months
                                                     (dollars in thousands)                                                     2009   ended March 31,       2008
                                                     (dollars in thousands)                                                     2009                         2008
                                                     Interest Income
                                                     Loans Income
                                                     Interest                                                             $         11,706             $         13,952
                                                     Loans                                                                $            354
                                                                                                                                    11,706             $            395
                                                     Other Total interest income                                                       354
                                                                                                                                    12,060                          395
                                                           Total interest
                                                     Interest Expense income                                                        12,060                       14,347
                                                     Notes payable to AgFirst Farm Credit Bank
                                                     Interest Expense                                                                6,628                         8,396
                                                     Notes payable to AgFirst Farm Credit Bank
                                                     Net interest income                                                             6,628
                                                                                                                                     5,432                         8,396
                                                     Provision for (reversal
                                                     Net interest income of allowance for) loan losses                               1,006
                                                                                                                                     5,432                             —
                                                     Net interest income afterallowance for loan losses
                                                     Provision for (reversal of provision for)                                       1,006                              —

     Consolidated                                     (reversal of allowance for) loan losses
                                                     Net interest income after provision for
                                                     Noninterest Income for) loan losses
                                                      (reversal of allowance

                                                     Loan fees
                                                     Noninterest Income                                                                821                         1,370
                                                     Fees fees
                                                     Loan for financially related services                                              55
                                                                                                                                       821                            57
                                                     Fees for earnings related Farm Credit institutions
                                                     Equity infinanciallyof other services                                           1,620
                                                                                                                                        55                         1,561
            of income (unaudited)                    Equity in earnings of other Farm owned, net
                                                     Gains (losses) on other property Credit institutions                                7
                                                                                                                                     1,620                            (2)
                                                     Other (losses) on income
                                                     Gains noninterest other property owned, net                                        52
                                                                                                                                         7                           (15)
                                                     Other noninterest income                                                           52                           (15)
                                                           Total noninterest income                                                  2,555                         2,971
                                                            Total noninterest
                                                     Noninterest Expense income                                                      2,555                         2,971
                                                     Salaries and employee benefits
                                                     Noninterest Expense                                                             1,977                         1,512
                                                     Occupancy and equipment
                                                     Salaries and employee benefits                                                    210
                                                                                                                                     1,977                           198
                                                     Insurance Fund equipment
                                                     Occupancy and premium                                                             304
                                                                                                                                       210                           259
                                                     GuaranteeFund premium
                                                     Insurance fee                                                                       0
                                                                                                                                       304                             0
                                                     Other operating expenses
                                                     Guarantee fee                                                                     578
                                                                                                                                         0                           633
                                                     Other operating expenses                                                          578                           633
                                                           Total noninterest expense                                                 3,069                         2,602
                                                            Total noninterest expense
                                                     Income before income taxes                                                      3,069
                                                                                                                                     3,912                         2,602
                                                     Provision (benefit) for income taxes
                                                     Income before income taxes                                                          —
                                                                                                                                     3,912                             —
                                                     Provision (benefit) for income taxes
                                                     Net income                                                           $              —
                                                                                                                                     3,912             $               —
                                                     Net income                                                           $          3,912             $           6,320

The shareholders’ investment in the association is materially affected by the financial condition and results of operations of AgFirst Farm Credit
Bank. Copies of AgFirst’s quarterly and annual financial reports to shareholders are available free of charge at, or by writing to
AgFirst Farm Credit Bank, Financial Reporting Department, P.O. Box 1499, Columbia, SC 29202-1499.

                                                                Cape Fear Farm Credit         30
Potential customers could be reading this ad just as you are now.
 Cape Fear Country is now offering advertising space within our publication. contact Skipper Jones, vP/Marketing
               Manager, for more information. 910.323.9188 •

     Global Technology
     Down on the Farm
     Smart soil sampling can make a world of difference for any farm operation. That’s why
     FCI puts the latest technology to work for you. With our VRT (Variable Rate Technology) system, we use GPS
     to “map” your fields. We then test soil samples from various grid sectors and computer program the results
     – along with crop specific information – to generate an “Application Map.” This enables us to apply the precise
     amount of soil nutrients (lime or fertilizers) needed in each sector. And you reap the benefits of VRT soil
     treatment, which include:

     • Optimizes nutrient management for maximum field fertility • “Only-what-you-need” application cuts
     costs and is more environmentally friendly • Tailoring soil nutrients is ideal when alternating crops in
     different sectors • Provides valuable information for future crop planning

     For the high tech soil sampling that can deliver higher yields and lower costs down on
     your farm, contact FCI today.

                                               2274 St. Pauls Hwy • Raeford • 910-875-4277 •

                                             Cape Fear Country Spring 2009   31
                                                                                           PRSRt Std
       Cape Fear Farm Credit                                                              u.S. PoStAge
       P.O. Box 2405
       Fayetteville, NC 28302
                                                                                           ColuMBiA SC
                                                                                           PeRMit 1160

                           Johnson ProPerties
                           realtors & auctioneers, inc.
                           50 East DEpot strEEt • p. o. Box 310 • angiEr, north Carolina 27501

          We specialize in marketing all kinds of real estate, using both
              the conventional and auction methods of marketing.

       Broker/owner • James W. (Jim) Johnson iii, gri, Cai, aarE, CEs             NCAL #2522, 7340
919.639.2231 • 800.865.5896 • •      NCRBL #8835

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