FOR IMMEDIATE RELEASE
April 1, 2011
Contact:
Sells J. Newman
601-977-8352 Office
601-946-0340 Cell
snewman@firstsouthland.com
First South Farm Credit, the Farm Credit System’s largest ag production and ag real estate lender in Alabama, Louisiana and Mississippi, issues $12.2 million in cash and allocated equities to stockholders on $23.5 million of reported income for 2010.
Jackson, Mississippi – As a result of the 2010 financial performance, First South Farm Credit, ACA distributed approximately $12.2 million ($7.4 in cash) to its stockholders in Alabama, Louisiana and Mississippi. This was the 16th consecutive equity refund since 1995 totaling approximately $190 million in cash and allocated surplus.
With $1.4 billion in assets, First South provides short and intermediate term loans and loan service for ag production and agribusiness and long-term loans to purchase or refinance land. First South has 46 lending locations throughout Alabama, Louisiana and Mississippi with its corporate headquarters in Ridgeland, Mississippi. For more than 75 years First South has been a reliable source of financing in our three states and rural America.
First South is a full service lender committed to sharing our success with our stockholders.