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AgSouth, Carolina Farm to merge
Carolina Farm Credit and AgSouth Farm Credit recently announced their intention to merge. Under the terms of a Letter of Intent (LOI), which was unanimously approved by the boards of directors of both associations, the combined entity would form the largest Ag lending cooperative in the Southeast. Based on the two Associations’ current portfolios, the merged entity would begin with mor than $4.2 billion in gross loan volume serving more than 24,800 stockholders with more than 475 employees.