We have a plan
We begin a new year. A fresh start in many ways. From an accounting standpoint we start a new period. We start a new budget and a new business plan.
While the budget and business plan are new, the environment we’re in and the foundation we’ve laid are not. We’ve come through two (and some might argue three) years of economic difficulty. Our customers have been tested and are being tested. As they’ve been tested, so have we. At times it’s been challenging, frustrating, rewarding, emotionally draining and exhilarating. It’s tempting to look back with the selective vision of what might seem like the good old days when we first came together to be MidAtlantic. Credit quality was 99% acceptable and hardly a loan was denied. Non-accruals were shrinking to the point that we wondered what might happen if and when they all went away. We shoulda known, and on some level we did know, that those times would not last. We knew there would be tougher days ahead and we needed to be prepared. So we did. And we are. And our results show it.
I’m as excited as I’ve been in anytime since I’ve been here about where we stand. We’re on solid footing and are planning and working to make it even more solid. If you read our business plan…that’s what it says. I am as excited as ever about our potential. Our marketplace faces special challenges, is changing and we’ll be there with it changing as needed to meet those challenges. The Farm Credit System continues its evolutionary change and we’ll be active participants in that process. The financial services industry is changing locally, regionally, nationally and globally. We’ll be working to make sure that we keep pace. Farm Credit will be a player in the market place not because of tradition, motherhood and apple pie but because we’re relevant, vibrant, steady and reliable. Our business strategies and actions are intended to make that a reality.
We’re on a good track….a steady solid track. I’m looking forward to what we do this year to continue the momentum and to deliver good things for our customers. Happy New Year!