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AgSouth reports earnings of $33.3 million
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AgSouth Farm Credit CEO Bill Spigener recently announced that the customer-owned cooperative had net earnings of $33.3 million during 2011. While this is less than the association’s record earnings of $35.9 million for 2010, Spigener said, “AgSouth added significantly more to our loan loss allowance as the economy continues to struggle.” “Earnings continued to be good as we have been able to reduce our borrowing costs, and the majority of our customers had another successful year,” said Spigener.