Farmers National Company marks anniversary with record growth
Marking its 85th anniversary, employee-owned Farmers National Company is celebrating record growth in an industry that has been fueled by record commodity prices, outside investment, strong export markets, ethanol production, and low interest rates. Company officials attribute its success to targeted diversification, excellent client service and the ability to adapt to the changing agricultural landscape.
“Farmers National Company has stayed true to the farm management concept it created 85 years ago, but has also become a leader in other agricultural arenas, through strategic diversification, resulting in expanded service offerings to landowners,” said Jim Farrell, President and CEO. “Reaching beyond our traditional roots has enabled us to better serve the market. We’ve increased our adaptability by broadening our base, which has created stability and profitability. For instance, our oil and gas management business has seen unprecedented growth.”
In South Dakota, Farmers National Company has 10 offices and currently manages 93,427.54 acres for non-operating landowners. Over the years, the company has added to its service offerings ‘above and below the ground’ to include insurance, appraisals, oil and gas management, recreational leases, forest resource management, lake management and ag stock services. The company operates in 40 states and recently expanded into Canada.
Company officials say diversification has led to remarkable growth since 2004, including:
• The number of acres managed has increased 122 percent.
• Real estate sales volume has risen 138 percent.
• Appraisal numbers have jumped 476 percent.
• Mineral interests managed have soared by 1,650 percent.
• The number of insurance policies written has increased by 90 percent.
• Staff size has grown by 100 percent.
“The company’s ability to fill market needs has fueled our growth,” said Terry Longtin, AFM Farmers National Company vice president for our Northern Area. “When we started 85 years ago our only offering was farm management, but we have expanded into many other areas to become a comprehensive landowner services company. We are always looking for new opportunities that make sense and would be beneficial to our clients and the entire industry.”