2011, while challenging in many ways, was another successful year for Carolina Farm Credit. Although our annual report which will be published next month will have all the details, I am pleased to report that our final net earnings exceeded $20 million and will again allow us to meet our goal of returning 20 cents of every dollar you contribute to our earnings, in the form of a patronage refund. We are happy to be in a position to return the majority of our earnings to you and continue to “Put our profits in your pockets”. We thank you for utilizing our products and allowing us to serve your financial needs, which in turn allows us to be profitable, return a portion of those profits to you and therefore continue to create value for your ownership in Carolina Farm Credit.

Just as you look forward to and plan for another successful year in 2012, we are planning for and are excited about what this year has in store for our association. We see opportunities to grow our business and membership in the coming year, and as always, ask for your help by recommending Carolina Farm Credit to your friends, family and neighbors. No amount of advertising can ever accomplish what satisfied customers can do by helping spread the word and telling our story.

We are looking forward to holding Customer Appreciation Events in all service center offices again during the month of April. This gives us an opportunity to deliver your patronage check and tell you face-to-face just how much we appreciate your business and our relationship with you. Be on the lookout for your invitation to arrive in the mail and mark the date on your calendar. We will be looking for you at your local customer appreciation event. Remember, without you, neither Carolina Farm Credit or these Customer appreciation events will be successful.