AgCarolina Farm Credit Board Approves Proposed Merger with Cape Fear Farm Credit

After completing months of due diligence, the Boards of Directors of AgCarolina Farm Credit and Cape Fear Farm Credit have voted to approve the proposed merger of the two Associations.

Over the next few months, the Boards will work together to seek regulatory approval and finalize a merger disclosure packet that will be sent to all stockholders this fall. This packet will include a range of important details, including instructions on when and how eligible stockholders can vote on the merger.

Assembling this information will take time; see the timeline below to better understand where we are in the merger process.

As we work to ensure a smooth, transparent process, we encourage you to check back to this landing page for updates on the merger, important documentation, and copies of official member communications.

Do stockholders vote on the merger?

Yes. Assuming both Boards vote to recommend the merger and receive regulatory approval, a stockholder vote would occur in late 2022.

Will any Farm Credit offices close as part of the merger?

We do not anticipate branch office closures as part of this merger. Local service will continue to be a key focus, including local loan decisions and local delivery of services. 

Will members have a new loan officer following the merger?

No. Members can expect the same local, personalized service from the same trusted experts at their local branches.

What will happen to patronage dividends?

Patronage dividends would continue to be an important part of members’ ownership under a combined Association. As a cooperative, we would continue to return profits to our members as determined by the board of directors each year.

Will there be any change in loan approval time or the loan process generally speaking?

No. We anticipate that the loan approval time and process would remain relatively consistent throughout the merger transition. Part of the reason for this strategic merger is for the Associations to share technology costs and resources to provide better value and service to members in the long term. Our goal is to streamline processes to make it easier to do business with faster loan decisions and other tools to enhance the success of members and our employees.


Member Communications

July 2022 Board Approval Stockholder Letter
April 2022 Letter of Intent Stockholder Letter
April 2022 Press Release


Do you have a question about the merger?

If you have any questions related to the merger, please send us an email to