The AgCarolina Farm Credit Board of Directors continues to explore ways to better serve AgCarolina members and communities. The AgCarolina Farm Credit and Cape Fear Farm Credit boards of directors voted unanimously to sign a Letter of Intent (LOI) to pursue a merger of equals with the goal of creating a stronger, more diversified organization that is better positioned to serve our members and fulfill our mission going forward. For years, the two Associations have worked together as industry peers, building successful, financially strong organizations who share a common member-focused culture and similar operating models. Local, personalized service will continue to be a top priority through the proposed merger process and beyond.

For the merger to become effective, the two Associations must complete further due diligence, the boards will vote whether to approve a definitive merger agreement, and request regulatory and stockholder approval. These steps will take time as noted within the timeline below:


As we work to ensure a smooth, transparent process, 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

April 2022 Letter of Intent
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