Summer is again upon us and while it seemed that winter held on longer than usual this year, we finally get to the portion of the growing season where crops begin to move toward maturity. While our general economy continues to show signs of strengthening, agriculture continues to lead the way and provide much needed fuel for economic growth. Of course that should come as no surprise since agriculture and agribusiness continues to be North Carolina's largest industry providing over $77 billion in revenue to the state's economy.

We were very busy this spring at Carolina Farm Credit as I am sure you were on your farm. In March, we held our 13th Annual Agricultural Leadership Institute in Asheville. This year 29 participants, mostly young, beginning, small, and minority couples, attended from across our territory. This intense three day institute is designed to help the participants meet the daily challenges of modern agriculture while maintaining a healthy balance between family business, family life and personal life. We had a very diverse and extremely hard working group this year and it was evident from their participation and commitment that the future of agriculture in North Carolina is in good hands.

In addition, we have also completed our fourth session of the Ag Biz Planner Program. This program is also attended by young, beginning, small, and minority farm couples and teaches financial and management skills that provides a sound foundation for future success. In this college-level, 10 module, online course, each participant worked closely with a Carolina Farm Credit Loan Officer who was assigned as their mentor. In addition to the financial and management skills learned by the participants, each one had the opportunity to develop a strategic business plan for their farming operation. Carolina partnered with four other Farm Credit Associations across several states to create a diverse group and 32 participants completed the program.

Recently, Carolina Farm Credit was named one of the 2013 Best Employers in North Carolina by Business North Carolina magazine. We were named the 5th Best Employer in North Carolina in the small to medium-sized company category. We were evaluated using a two part survey process that looked at our business practices and culture and our employees were also surveyed to measure their satisfaction. It is certainly an honor to receive this recognition; however, it would not be remotely possible without the commitment and dedication of our employees who have a passion to serve you, our members, and North Carolina agriculture. Congratulations to each of our employees and members, because the relationships that you have created and nurtured created an environment that made this recognition possible.

Finally, at the end of last year I announced to our board of directors and our staff that I would retire from Carolina Farm Credit at the end of 2013. It's difficult to even think about leaving something that I love doing and have been doing for over 35 years. I am extremely grateful to have had the opportunity to serve you, our employees and agriculture during my tenure at Farm Credit. You are fortunate to have a board of directors who are forward thinking and have a continuous succession plan for the management of the association in place. The board has named Vance C. Dalton, Jr., who currently serves as Executive Vice President and Chief Operating Officer, as your new President and CEO effective upon my retirement. We will continue our leadership transition through the remainder of the year. I commend the board on an excellent decision and look forward to working closely with Vance and our management team to ensure a smooth transition at year-end.