We are very fortunate to live in a part of our country where we actually experience 4 seasons. Now that winter is in full swing it reminds us that we have wrapped up another year on our farms, in our businesses and life in general. Our hope is that 2012 was a great year for you from all perspectives and that in this New Year you will find even more success.

2012 was another very successful year for Carolina Farm Credit. While our annual report that will be published next month will provide the details, I am pleased to report that our final net earnings exceeded $25 million last year. This will allow us to again return a significant portion of our earnings to you in a patronage refund. In fact, this will be our 25th consecutive year of paying patronage refunds to our members. You will hear more about this milestone throughout 2013 as we celebrate 25 years of paying patronage.

In April, we will again be holding customer appreciation events at each of our 36 service centers. While we never want to miss an opportunity to say thank you for doing business with Carolina Farm Credit, these events are a way for us to put feet to our words and show you our appreciation. What better way to say thank you than by serving you good food, taking time to sit and visit with you and hand delivering your patronage check. Please be looking for your invitation in the mail and make plans to join us at your local customer appreciation event in April.

We are looking forward to the opportunities that 2013 will bring to each of you, Carolina Farm Credit and agriculture statewide. We are grateful for our partnership with and for the opportunity to provide service to our membership, North Carolina Agriculture and rural America. Best wishes for a successful 2013.