Mergers, Name Changes, and Other Corporate Activity
FCA is responsible for issuing and amending corporate charters to all Farm Credit System (FCS) institutions. Therefore, when institutions merge, change their names, and make other corporate changes, they must have these actions approved through FCA. Below please find a quarterly update of this information, as of October 1, 2015.
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.
FCA Grants Preliminary Approval for Association Mergers
On September 15, the FCA Board granted preliminary approval to a proposed plan of merger of Chisholm Trail Farm Credit, ACA, and its subsidiaries, with and into Farm Credit of East Central Oklahoma, ACA, and its subsidiaries. East Central Oklahoma, including its subsidiaries, would be the continuing association, and its name would change to Oklahoma AgCredit, ACA. If the merger receives final approval, it will take effect on January 1, 2016.
On August 25, the FCA Board granted preliminary approval to a proposed plan of merger by and between Southwest Farm Credit, ACA, and Farm Credit West, ACA. If the merger receives final approval, the share exchange phase of the merger will be effective on November 1, 2015; at that time, Southwest will become a wholly owned subsidiary of Farm Credit West. Southwest’s FLCA and PCA subsidiaries will remain subsidiaries of Southwest and will become indirect subsidiaries of Farm Credit West. For the present, all entities will retain their names; however, by no later than the third anniversary of the share exchange, Southwest and its subsidiaries will merge into Farm Credit West and its subsidiaries. At that time, the Southwest charters will be cancelled.
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 by Type and District.
See FCA Board Approvals of FCS Corporate Applications for a summary of corporate activity from January 1 through October 1, 2015.
To locate an FCS institution or to see a map showing the FCS districts and a listing of FCS institutions, go to the FCS Directory and Map. Also see Locate a Lender, which enables potential borrowers to find their nearest FCS branch.
Page updated: October 19, 2015