Marking its 85th anniversary, employee-owned Farmers National Company is celebrating record growth in an industry that has been fueled by record commodity prices, outside investment, strong export markets, ethanol production, and low interest rates. Company officials attribute the firm's success to targeted diversification, excellent client service and the ability to adapt to the changing agricultural landscape.
"Farmers National Company has stayed true to the farm management concept it created 85 years ago, but has also become a leader in other agricultural arenas, through strategic diversification, resulting in expanded service offerings to landowners," says Jim Farrell, president and CEO. "Reaching beyond our traditional roots has enabled us to better serve the market. We've increased our adaptability by broadening our base, which has created stability and profitability. For instance, our oil and gas management business has seen unprecedented growth."
Company now has 44 offices in Iowa, and operates in 40 states
In Iowa, Farmers National Company has 44 offices and currently manages 242,762 acres for non-operating landowners. Over the years, the company has added to its service offerings 'above and below the ground' to include insurance, appraisals, oil and gas management, recreational leases, forest resource management, lake management and ag stock services. The company now operates in 40 states and recently expanded into Canada.
Company officials say diversification has led to remarkable growth since 2004, including:
• The number of acres managed has increased 122%.
• Real estate sales volume has risen 138%.
• Appraisal numbers have jumped 476%.
• Mineral interests managed have soared by 1,650%.
• Number of insurance policies written has increased by 90%.
• Staff size has grown by 100%.
Still a farm management firm, but has diversified into other arenas
"The company's ability to fill market needs has fueled our growth," says Larry Hill, AFM, Farmers National Company vice president for its central area. "When we started 85 years ago our only offering was farm management, but we have expanded into many other areas to become a comprehensive landowner services company. We are always looking for new opportunities that make sense and would be beneficial to our clients and the entire industry."
Farmers National Company, an employee-owned company, is the nation's largest ag landowner services company. The firm currently manages more than 4,850 farms in 24 states comprising over 2.1 million acres. The company has sold over 3,700 farms and more than $2.65 billion of real estate during the last five years. Additional services provided by the company include auctions, appraisals, insurance, consultation, oil and gas management, lake management, a national hunting lease program, forest resource management, and FNC Ag Stock. For more information on land listings in your region, visit the Farmers National Company website.