Mergers, Name Changes, and Other Corporate Activity
FCA is responsible for issuing corporate charters to all Farm Credit System institutions. Therefore, when institutions merge, change their names, and make other corporate changes, they must have these actions approved through FCA.
Note: FCA views an Agricultural Credit Association (ACA) and its Production Credit Association (PCA) and Federal Land Credit Association (FLCA) subsidiaries as a single entity for most regulatory purposes.
CoBank and U.S. AgBank Merge
The merger of CoBank, ACB, and U.S. AgBank, FCB, took effect on January 1, 2012. FCA granted final approval to the plan of merger on December 12, 2011. On that date, FCA also issued the initial charter for CoBank, FCB, a wholly owned subsidiary of CoBank, ACB. The stockholders of CoBank and AgBank approved the plan of merger on September 7, 2011. The headquarters of the merged bank are located in Greenwood Village, Colorado, the current headquarters of CoBank, ACB.
Two Associations Affiliated with U.S. AgBank Merge
Also on January 1, 2012, a merger took effect between Farm Credit Services of the Mountain Plains, ACA, located in Greeley, Colorado, and American AgCredit, ACA, located in Santa Rosa, California. FCA granted final approval to the merger on December 29, 2011, and the voting stockholders of each constituent association approved the merger on November 22, 2011. As part of the ACA merger, Mountain Plains’ PCA and FLCA subsidiaries merged into American AgCredit’s respective PCA and FLCA subsidiaries. American AgCredit is the continuing association.
FCA Issues Charter for Farm Credit Foundations
On January 1, 2012, the charter took effect for Farm Credit Foundations, a service corporation organized by AgriBank, FCB, under section 4.25 of the Farm Credit Act of 1971, as amended. FCA approved issuance of the charter on October 13, 2011.
Pending Applications
As of January 1, 2012, there were no corporate applications pending consideration or action by the FCA Board.
Additional Information
To find out the number of banks and associations in the FCS, how they are classified, and how their numbers have changed over the past 12 months, see Number of FCS Banks and Associations.
See FCA Board Approvals of FCS Corporate Applications for a summary of corporate activity from January 1, 2011, through January 1, 2012.
To locate an FCS institution or to see a map showing the FCS districts, go to the FCS Directory and Map.