Wednesday, January 28, 2015
"Talked To A Banker"
I was old enough through the 80's to go to farm auctions with dad and grandpa. I pray that those days are not on our horizon again. From a young persons perspective a prolonged period of this and we will lose the majority of the young people that have been drawn into Ag. There are differing attitudes towards young producers out there. Some are willing to welcome them into the industry with open arms and some see them as over optimistic competition and would like to see them "taken out".
My talk with the banker reassured me that equity is what is necessary to carry through a down turn to the red. Unfortunately not many young producers are healed enough to bleed much red with so little equity. Be care full what you wish for as some of you may need those young producers at your retirement sale."
Yes I have two lined up if it comes to that. I am sure there are many more who would be interested. He makes some good points on Market Talk, it is an interesting thread.
Our banker sent me flowers. They sent the farm loan officer to work on this year's loan to the house. They said don't worry about a thing, you are one of our best customers and even if you weren't we would tell you to take care of yourself and get better. Don't worry about your financials.
They are very conservative rural, farm loan bankers. They are the best source of cash I've had in my life. Their financial sheets show they are better prepared for problems than most any bank in Ohio.
I have had good bankers all of my life but these folks are the cream of the crop. They may not be rated an A+ bank but they are in my 11 years of experience with them.
"The Merchants National Bank is headquartered in Hillsboro and is the 34th largest bank in the state of Ohio. It is also the 1,088th largest bank in the nation. It was established in 1879 and as of September of 2014, it had grown to 125 employees at 13 locations. The Merchants National Bank has a B+ health rating."
Do you like your bank?