ENFIELD, Conn. — The merger of Farm Credit East and Farm Credit of Maine received final regulatory approval Jan. 1 following stockholder votes of both organizations that overwhelmingly supported the merger.
This merger is the culmination of strategic planning initiatives in both associations to sustain growth and customer value for Farm Credit, officials said.
“With this merger comes new opportunities that include a tremendous team of Maine employees who will ‘deepen our bench’ in a variety of job areas,” said Bill Lipinski, Farm Credit East CEO. “We will work hard to ensure that significant financial benefits accrue to our expanded family of stockholders in the next several years.”
The merged association will create the opportunity, he said, for enhanced earnings, portfolio diversification and a stronger capital base.
It will also offer enhanced member service through an expanded pool of talent and experience.
In 2014, the merged association plans to build on those goals, as well as move forward on other positive initiatives that provide high-value customer service and expand diversity of stakeholder groups, said Lipinski.쇓
