Contact: Linda Strickland
lstrickland@agcarolina.com
919-250-9500 ext 214

Bob Bazemore, Raleigh, NC has been named outside director for the Board of AgCarolina Financial. He was appointed to serve a 4-year term at the November board meeting of the Raleigh based farm lending corporation. His term was effective with the November 2 Annual Stockholders Meeting.

Bazemore's past experience includes positions with Ernst & Whinney, Certified Public Accountants in Roanoke, Virginia, and a twenty-four year career with Progress Energy serving in numerous financial roles including Vice President of Audit Services, Controller, and Chief Accounting Officer. He retired from Progress Energy in 2010. He holds a B.A. degree in accounting from the University of South Florida and Wake Forest University. He resides in Raleigh, NC with his wife, Cindy. The association's board of directors includes ten farmer-members and two outside directors.

Bazemore fills the position previously held by Thomas E. Snider, who had served as outside director since 2004 and recently retired.

The Raleigh based agricultural lending cooperative has 10 North Carolina farmers that serve on its Board along with two outside directors. The Board of Directors is responsible for directing and monitoring performance of the business and establishing policy for the cooperative.

"We are pleased to have Bob Bazemore join the Board," said Eldridge Westbrook, Chairman of the Board of Directors of AgCarolina Financial. "He will add a good perspective to our Board as we work to provide superior service to our stockholders and direct the financial activities of the Association," he added.

About AgCarolina Financial
AgCarolina Financial is a farmer owned financial cooperative with headquarters in Raleigh. They are the leading provider of credit to farmers in central and eastern North Carolina. AgCarolina Financial has over $1.2 billion in loans and commitments outstanding to nearly 3000 North Carolina farmers. Loans are made to finance land, homes, farm buildings, operating expenses, livestock and equipment, as well as other purposes. Credit life insurance, crop insurance, appraisal services, and leasing are also available through AgCarolina Financial.

AgCarolina Financial will be conducting a food drive at their Customer Appreciation events with donations going to the Food Bank of North Carolina in Raleigh and Greenville.

The food drive is in association with the Cooperative Council of North Carolina's Early Harvest Food Drive which encourages cooperatives throughout NC to hold food drives that benefit their local food banks. AgCarolina Financial customers, as well as the community, can make non-perishable food donations at each of the 12 branch offices throughout eastern North Carolina. AgCarolina Financial is a farmer-owned cooperative and is a member of the Cooperative Council.

The food drive begins September 1 and will conclude on October 20, at the conclusion of the Customer Appreciation Day events.

About AgCarolina Financial
AgCarolina Financial is a farmer owned financial cooperative with headquarters in Raleigh. They are the leading provider of credit to farmers in central and eastern North Carolina. AgCarolina Financial has over $1.2 billion in loans and commitments outstanding to nearly 3000 North Carolina farmers. Loans are made to finance land, homes, farm buildings, operating expenses, livestock and equipment, as well as other purposes. Credit life insurance, crop insurance, appraisal services, and leasing are also available through AgCarolina Financial.

AgCarolina Financial announced today that they have begun accepting grant applications through their corporate-giving program, The Fund for Rural North Carolina. Grants are available up to $5,000 per organization for programs that specifically benefit farmers and rural residents. Applicants may request funding in one of the four focus areas: Education, Environment, Technology, or the Quality of Rural Life.

Groups or organizations based within the thirty four county geographic area in which the Association conducts business are eligible to apply. Generally, grants are not awarded to individuals.

"AgCarolina Financial is strongly committed to enhancing the quality of life and future opportunities for Eastern North Carolina rural residents and their communities," states Gene Charville, AgCarolina CEO. "Our corporate giving fund allows us to impact a wide range of organizations that support rural North Carolina."

To learn more about the Fund for Rural North Carolina and to obtain guideline criteria, go to www.agcarolina.com, select news, and click on community involvement.. Grant applications are available on-line and will be accepted through October 14. Proposals will be reviewed and grants awarded as early as possible after October 14.

About AgCarolina Financial
AgCarolina Financial is a farmer owned financial cooperative with headquarters in Raleigh. They are the leading provider of credit to farmers in central and eastern North Carolina. AgCarolina Financial has over $1.2 billion in loans and commitments outstanding to nearly 3000 North Carolina farmers. Loans are made to finance land, homes, farm buildings, operating expenses, livestock and equipment, as well as other purposes. Credit life insurance, crop insurance, appraisal services, and leasing are also available through AgCarolina Financial.

AgCarolina Financial was presented with the 2011 North Carolina FFA Premier Partner Award during the 83rd North Carolina FFA State Convention held at the Raleigh Convention Center.

AgCarolina has a long supportive relationship with the North Carolina FFA Foundation. Realizing that FFA members will one day become the future leaders of the agricultural industries in North Carolina, AgCarolina has worked closely with FFA advisors to insure that every FFA member in the thirty-four county area which AgCarolina services is aware of the availability of FFA scholarships through their corporate giving program, The Fund for Rural North Carolina. Since beginning the scholarship program, AgCarolina has awarded nearly $20,000 in scholarships to 35 outstanding FFA members with plans to further their education at a North Carolina college or university

For several years, AgCarolina Financial has been the title sponsor of the North Carolina FFA Association's Ag Sales Proficiency Awards. In addition to supporting the proficiency awards program, AgCarolina unselfishly supports many other FFA activities across the state. These include golf tournaments land judging events, and FFA chapter banquets. AgCarolina has also provided startup funds for new FFA chapters in their regions and financially supported the recruitment and retention of quality agriculture teachers in the eastern agricultural education region.

AgCarolina has also partnered with local FFA chapters to offset the cost for FFA members to attend the National FFA Convention in Indianapolis, Indiana where FFA members from across the nation meet to share ideas and goals.

"AgCarolina has a passion for agriculture, and so does FFA. We look forward to continuing our work together as we prepare our FFA members to be our state's next generation of agricultural leaders," said Joshua Starling, Executive Director of the North Carolina FFA Foundation. "Without the support of quality partners like AgCarolina Financial, the efforts of our students and teachers would go unrecognized."

About AgCarolina Financial
AgCarolina Financial is a farmer owned financial cooperative with headquarters in Raleigh. They are the leading provider of credit to farmers in central and eastern North Carolina. AgCarolina Financial has over $1.2 billion in loans and commitments outstanding to nearly 3000 North Carolina farmers. Loans are made to finance land, homes, farm buildings, operating expenses, livestock and equipment, as well as other purposes. Credit life insurance, crop insurance, appraisal services, and leasing are also available through AgCarolina Financial.

AgCarolina Financial, eastern North Carolina’s largest agricultural lender, has announced that 27 high school and college students will be receiving scholarships totaling $27,000 during 2011.  The scholarship program is one component of the cooperative farm lender’s Corporate Giving Program.

“We are proud to recognize these outstanding scholars,” said Gene Charville, CEO.  “Even more gratifying is the passion they exhibit for agriculture and according to essays written as part of the application process, the vision that each of them have for using their education to improve the communities of rural eastern North Carolina.” 

Recipients of the $1,000 At-Large Scholarship are:  Elizabeth A. Price of Mt. Olive; Hayli Gurganus of Williamston; Amanda J. Smith of La Grange; Kenji B. Goodwin of Edenton; and Morgan E. Rodwell of Seven Springs. These recipients are either children or grandchildren of customers or employees who will be attending or are currently enrolled in a four year North Carolina college or university. 

Five FFA scholarships were awarded to:  Jacqueline Anne Ammons of Zebulon; Dylan Thomas Lilley of Gatesville; Emily Berryman of Hobbsville; Courtney Nicole Smith of La Grange; and Paige Leigh Herring of Goldsboro.  These five young people will be continuing their studies at a North Carolina college or university.

Community college scholarships were awarded to:  Katherine L. Robbs of Clayton; Ashley B. Martin of Norlina; Isaac C. Rodwell of Seven Springs; Elizabeth A. Lancaster of Elm City; and Victoria A. Ellington of Littleton.  Recipients of these scholarships are either children or grandchildren of customers or employees and will be attending a North Carolina community college

In addition to the above scholarships, five $2,000 scholarships to North Carolina State University for students who are currently enrolled in or will be pursuing a degree in the ag curriculum will be awarded.  Also, five $750 scholarships to the NCSU Ag Institute will be awarded. Recipients of the NCSU scholarships must be children or grandchildren of an AgCarolina Financial customer or employee. Selection for the NCSU scholarships will be made by the NCSU Scholarship Committee. Two $1,000 scholarships will be awarded to students who are currently enrolled in or will be pursuing a degree in the ag curriculum at North Carolina A&T State University.  Student selection for the scholarships at A&T will be made by the university.  Recipients of these scholarships will be awarded soon.

About AgCarolina Financial
AgCarolina Financial is a farmer owned financial cooperative with headquarters in Raleigh.  They are the leading provider of credit to farmers in central and eastern North Carolina.  AgCarolina Financial has over $1.2 billion in loans and commitments outstanding to nearly 3000 North Carolina farmers.  Loans are made to finance land, homes, farm buildings, operating expenses, livestock and equipment, as well as other purposes.  Credit life insurance, crop insurance, appraisal services, and leasing are also available through AgCarolina Financial.

AgCarolina Financial, the largest ag-lender in eastern North Carolina, is pleased to announce a $6.4 million dollars cash payment to members, to be paid as part of the agricultural credit cooperative’s Patronage Distribution Program. The checks are due to arrive in early April.

“The return of borrower capital is the single greatest advantage of doing business with a cooperatively owned bank. As a customer-owned financing cooperative, AgCarolina Financial, places a high priority on sharing our success with our customers,” said CEO, Gene Charville. “The distribution of profits to our loyal members effectively reduces the farmer’s cost of borrowing money,” he adds.

Since 1988, the cooperative has returned more than $167 million to their customers. Over the last 10 years, these refunds have provided customers with an average annual interest rate reduction of 1%.

Board Chairman Eldridge Westbrook said, “Our customers have become accustomed to receiving competitive rates and excellent customer service. When you add our cash patronage distribution to the mix, it’s hard to find another lender that can compete.”

About AgCarolina Financial
AgCarolina Financial is a farmer owned financial cooperative with headquarters in Raleigh. They are the leading provider of credit to farmers in central and eastern North Carolina. AgCarolina Financial has over $1.2 billion in loans and commitments outstanding to nearly 3000 North Carolina farmers. Loans are made to finance land, homes, farm buildings, operating expenses, livestock and equipment, as well as other purposes. Credit life insurance, crop insurance, appraisal services, and leasing are also available through AgCarolina Financial.

AgCarolina Financial will be awarding more than $25,000 in scholarships to students who will be attending or who are currently enrolled in a North Carolina college or university. The cooperative will present twenty-seven scholarships to the children or grandchildren of customers or employees of the cooperative.

• Five $2,000 scholarships will be available to students who are pursuing an agriculture-related degree at North Carolina State University (NCSU). Application due date is April 15.
• Five $750 scholarships will be awarded to students who are enrolled in the North Carolina State University Ag Institute. Application due date is April 15.
• Two $1,000 scholarships will be awarded to students pursuing an agriculture-related degree at North Carolina A&T State University. Applicants must reside within AgCarolina Financials territory. Application due date is April 15.
• Five recipients will be awarded scholarships of $750 each to any community college within the State of North Carolina. Application due date is April 30. Five recipients will be awarded scholarships of $1,000 each to any four-year college or university within the State of NC. Scholarships will be non-degree specific. Application due date is April 30.
• Five scholarships in the amount of $500 each will be awarded to any high school senior who is a FFA member, residing within AgCarolina's territory with plans to attend a four year college or university. Application due date is April 30.

Scholarship applications are available online at www.agcarolina.com. Select "careers" and then "scholarships."

About AgCarolina Financial
AgCarolina Financial is a farmer owned financial cooperative with headquarters in Raleigh. They are the leading provider of credit to farmers in central and eastern North Carolina. AgCarolina Financial has over $1.2 billion in loans and commitments outstanding to nearly 3000 North Carolina farmers, agribusinesses, and rural landowners. Loans are made to finance land, homes, farm buildings, operating expenses, livestock and equipment, as well as other purposes. Credit life insurance, crop insurance, appraisal services, and leasing are also available through AgCarolina Financial.

AgCarolina Financial recently awarded over $30,000 to 15 organizations in eastern North Carolina as part of their corporate-giving program, the Fund for Rural North Carolina. The grants will help the recipients carry out programs that specifically benefit farmers and rural residents in eastern North Carolina where the Association conducts business.

Grants were awarded in one of the four focus areas of Education, Environment, Technology, or Quality of Rural Life to the following organizations:

• Pasquotank County 4-H to support the purchase of science based educational materials that Pasquotank Co. 4-H will use in the Pasquotank Co. School System’s 2nd – 5th grades that will reach approximately 1,500 youth.
• Northeast Ag Expo Committee for funds to buy a 1991 Case International tractor to operate a grain drill for trials and tests.
• SATELLITE (Science and Technology Enriching Lifelong Leadership in Tomorrow’s Endeavors) for funds to sponsor 15 campers from rural NC high schools to attend a science and technology camp at NC State University.
• Coleman-Pitt American Legion Auxiliary Unit 58 to send 4 Academically Gifted high school senior women to Girls State.
• NC FFA Foundation to promote the profession of agriculture teacher to students in ag education in eastern NC.
• Pasquotank & Northeastern FFA for “Wake Up to Ag Day,” for 3rd graders in Pasquotank County.
• Sharp Point Volunteer Fire Department to purchase a pump for portable Hurst Tool (Jaws of Life).
• Perquimans County Cooperative Extension Service to help young people learn the necessary skills in judging livestock through seminars and classes.
• Heritage Agriculture/FFA for start-up costs of FFA programs for the first year.
• Port Discover to support Kids Grow: A children’s gardening initiative.
• Beaufort/Hyde Partnership for Children for summer enrichment Home Supply Boxes Program for rising kindergarten students in all public and private Beaufort and Hyde County schools.
• Pasquotank County 4-H to provide material to youth for presentations and scholarships at county, district, and state public speaking events.
• Nash County Cooperative Extension Service to assist in establishing Phase 1 of the Homestead Demonstration project, part of the Nash County arboretum.
• Rocking Horse Ranch Therapeutic Riding Program, Inc. for scholarships for therapeutic riding program to cover lesson fees for those unable to afford fees.
• ECFC Life to purchase smoke detectors for Smoke Detector Placement Program.

Association CEO, Gene Charville states, “Since 2005, this Fund has helped us support projects throughout eastern North Carolina that have helped to make a positive difference in the lives of many of the rural residents. Through this Fund, we have impacted a broad spectrum of organizations in our service area that support rural North Carolina.”

About AgCarolina Financial
AgCarolina Financial is a farmer owned financial cooperative with headquarters in Raleigh. They are the leading provider of credit to farmers in central and eastern North Carolina. AgCarolina Financial has over $1.2 billion in loans and commitments outstanding to nearly 3000 North Carolina farmers. Loans are made to finance land, homes, farm buildings, operating expenses, livestock and equipment, as well as other purposes. Credit life insurance, crop insurance, appraisal services, and leasing are also available through AgCarolina Financial.