December 2021 Newsletter | Welcome to the Plains

High Plains Farm Credit

NEWSLETTER

Vol. 22, No. 3, December 2021

Invest In Inflation High Plains Farm Credit Outpost Offices Dighton

12pm-3pm 1st, 3rd and 5th Wednesdays Farm Bureau Insurance 127 S. Lane 785-798-7322

Greensburg

10 am-12pm 1st and 3rd Thursdays Farm Bureau Financial Services 320 W. Kansas Ave. 620-672-1265

Hill City

I pm-3pm 2nd & 4th Wednesdays County Courthouse Commissioners Room 785-421-3453

Hoxie

I pm-3pm Every Tuesday First Insurance Agency 700 Main St 785-798-7325

Jetmore

I pm-4pm 2nd & 4th Wednesdays Farm Bureau Financial services 321 Bowlus 620-770-7080

Norton

10 am-Noon 1st & 3rd Thursdays County Courthouse Commissioners Room 785-877-5710

Kevin Swayne President

Will Roger's once said, "Invest in Inflation, it's the only thing going up." This Summer's newsletter article, Coffee Shop Economics, created a lot of outreach and discussion about inflation. Soon after the newsletter was published fertilizer, farm machinery, seed and fuel prices began to soar. I recently talked to a farmer about inflation and he made the following comment, "It may be time for the younger generation to develop a new skillset: Inflation Management." This comment stuck with me because managing prolonged, higher levels of inflation is something we haven't seen in a long time.

WHAT IS INFLATION? Inflation is a general rise in prices over time. The basic principle of inflation is that you don't get as much for your dollar as you did before. Generally speaking, a slow, steady increase in inflation is thought to be a signal of a healthy economy.

Inflation becomes problematic when it gets out of balance with other economic indicators, such as real wages.

WHAT CAUSES INFLATION? The stimulus bills of 2020 and 2021 created inflationary concerns for people. The concern is that more money being introduced into circulation dilutes its value, resulting in a sharp rise in prices. When the money supply exceeds people's ability to spend it, prices keep rising to make up the difference, and inflation can start getting out of control.

Economists have several theories about how this actually happens, but they all describe the same basic cycle: prices outpacing people's ability to pay.

• Demand-pull inflation is the idea that an increase in available money and credit creates more demand for goods and services. That demand outpaces the economy's production, and prices rise in response.

• Cost-push inflation is a scenario wherein businesses' costs of production rise, and down-market prices rise to keep up. As demand stays level goods become less affordable for consumers.

• Built-in inflation happens when people expect inflation to continue pushing costs up, so workers demand higher wages in order to keep pace. This leads to what's known as a wage-price spiral-a spiral that travels upward.

WHAT TO DO ABOUT INFLATION? First, determine a farm plan and budget. Listing out estimated income and expense associated for crops produced on the farm (feed and seed) provides insight to possible crop rotation adjustments. For example, some producers haven't planted wheat in recent years, but with the recent price and input increases the margins for wheat may be higher than other crops now.

Second, prioritize your fields. Depending on soil test results and how healthy your soil is, farmers could utilize less fertilizer on healthier fields and focus fertilizer on fields with less nutrients in the soil. It may also be time to consider different seed varieties or seed companies.

Third, evaluate your savings and debt levels. In an inflationary period, the same $1,000, buys fewer amounts of goods throughout the economy. The balance between savings and debt is Continued on page 3.

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www.HighPlainsFarrnCredit.com

Invest In Inflation

Continuedfrom page 2.

more important than ever. You don't want to have too much cash on the sidelines as you lose your purchasing power, but you don't want to have too little in the sense that if things go wrong and you don't have that safety net. Another item to consider is taking out a long-term loan with a locked in interest rate. The Fed will increase rates to lower inflation. Paying back a 4 to 5% loan in a higher interest rate environment with inflationary dollars will benefit your future financial position.

OUR GRATITUDE ALWAYS OUTPACES INFLATION. As we wind down 2021, we do so with a sense of gratitude for letting High Plains Farm Credit continue to be your trusted partner. It has been our pleasure to serve you and our rural communities during these volatile times. On behalf of our Board of Directors and Employees, I wish you and yours a Blessed, Joyous and Merry Christmas, with the hope that together we continue to find success well into 2022 and beyond.

Merry Christmas and Happy New Year,

High Plains Farm Credit Outpost Offices Osborne

IO am-Noon 1st & 3rd Wednesdays Fann Bureau Office 1113 W. Highway 24 785-346-2621

Quinter

12:30pm-3pm 1st, 3rd, & 5th Tuesdays Golden Plains Credit Union Highway 212 & Lincoln St. 785- 798-5925

Russell

10am-Noon 1st & 3rd Thursdays 320N.Main 785-483-3415

Smith Center

IO am-Noon 2nd & 4th Tuesdays Collier Abstract and Title Inc. 107 N.Main 785-282-3351

Stockton

lpm-3pm 1st & 3rd Tuesdays Farm Bureau Building 518 Main 785-425-6261

Wakeeney

9 am-11:30am 1st, 3rd & 5th Tuesdays Trogstad 525 Russell Avenue 785- 798- 7325

www.HighPlainsFarmCredit.com

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Welcome to the Team AMANDA CORDES - Amanda Cordes joined HPFC in July as a Staff Accountant in the Pratt office. She grew up in Topeka, KS and graduated from Kansas State University in May 2012 with a Bachelor's degree in Accounting. Amanda's husband, Zack, is a Non-game Biologist with the Kansas Department of Wildlife and Parks. They have two children, Addie (4) and Kyler (2). In her free time, Amanda enjoys spending time with her family and friends, traveling, golfing, and being outdoors.

High Plains Farm Credit Office Locations Larned

605 Main Larned, KS 67550 TOLL FREE 1-800-864-4458 FAX (620) 285-6140

Pratt

290 NE State Road 61 Pratt, KS 67214-8751 (620) 672-1265 TOLL FREE 1-866-672-1265 FAX (620)672-5093

Dodge City

1405 East Comanche Dodge City, KS 67801 (620) 225-4400 TOLL FREE 1-800-289-5370 FAX (620) 225-5867

Hays

2905 Vine Street Hays, Ks 67601 (785) 625-2110 TOLL FREE 1-800-369-9625 FAX (785) 625-4309

Phillipsburg

477 F Street Phillipsburg, KS 67661 (785) 543-6535 TOLL FREE 1-800-815-8593 FAX (785) 543-5739

Amanda Cordes StaffAccountant

KATE LOCK - Kate joined the High Plains Farm Credit team in July as the Human Resource Associate in our Dodge City office. She grew up in ,--......,....,._.,.......,=-i Cimarron, KS and graduated from Kansas State University in 2015 with a Bachelor ofScience in Business Administration (Accounting) and a minor in Agribusiness. After graduating, Kate worked at Koch Ag and Energy Solutions before given the opportunity to move back to Southwest Kansas.

Kate's family has farmed south of Macksville, KS for over 140 years. In her free time Kate enjoys spending time with her family, friends, and two puppies. She enjoys hunting, fishing, golfing and traveling.

BEN RAMSEY - Ben is a native of Scott City, KS. After High School, he played football at Dodge City Community College and Washburn University where he earned his bachelor's and master's degrees. After ______ college, he and his wife, Jenny lived in Topeka for a short time before relocating to Jenny's hometown of Larned. After a short stint in administration at the Larned State Hospital, Ben entered the world ofretail and commercial banking for eight years.

Kate Lock Human Resources Assistant

Ben Ramsey Vice President­ Lending ,--------,

Ness City

IOI Eagle Drive Ness City, KS 67560 (785) 798-2278 TOLL FREE 1-800-950-3522 FAX (785) 798-3557

Office Hours

7:30 am-4:30 pm M-Th 7:30 am-4:00 pm Fri www.HighPlainsFarmCredit.com

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Eric Fox Vice President­ Lending

Jenny works from home as a Compliance Specialist for a diversified financial services organization out ofthe Kansas City area. Ben and Jenny have three sons Eli (7), Ryan (5), and Scout (91 in dog years). They love all things sports, especially football, and spending time outside. Ben has a special affinity for his yard and you can find him most summer Friday nights mowing, edging, and spending way too much time taking care of his grass.

ERIC FOX-Eric is a native of Larned and a graduate ofFort Hays State University with a degree in Agri-Business. After college, he worked for an agricultural research company, then a short stay at Larned State Hospital working as a Risk Manager. Eric finally put his degree to work in 2007 when he started with a local Commercial bank. He worked in the Commercial banking world for nearly 14 years before making the transition to High Plains Farm Credit in Larned. Lastly, he had the pleasure of working on his Grandpa's and Uncle's farm for most of his life.

His wife, Jessie, is also a Larned native and works at Larned State Hospital as a Clinical Therapist and Social Worker. Together, they have three energetic young boys; Easton (11), Eli (9), and Evan (6). They spend a great amount of time outside of work driving their boys to and from sporting events they participate in. You will most likely catch them at a ball field or Lake Wilson in the summer!

www.HighPlainsFarmCredit.com

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Contact your local High Plains Farm Credit office for consideration of support for your organization. www.HighPlainsFarmCredit.com

Visiting Capitol Hill

Let Your Voice Be Heard Board of Directors Tim Benoit, Damar Howard Boese, Brownell Daniel Cossman, Jetmore Richard Deines, WaKeeney Kenneth Gasper, Tipton Craig Gebhard, Long Island Jon Herrmann, Kinsley Keith Kennedy, Hoxie

The High Plains Farm Credit Nominating Committee is gearing up for the 2022 Elections.

Board Elections are an essential part of our cooperative structure. The Nominating Committee is selected to evaluate and nominate qualified individuals to serve on the Board ofDirectors and the Nominating Committee.

In 2022, three director seats will be up for election. We will have one position that the incumbent Director has decided to not rerun in 2022. We will be mailing all stockholders a letter in late December detailing the Election process on open positions.

If you are interested in being considered for a Board or Nominating position, please visit our website at www.HighPlainsFarmCredit.com and click on About- Board ofDirectors to complete an online form or contact a current Board Member or any member of the 2022 Nominating committee listed below.

Peter Befort Joss Briggs John Blackwell

Matt Grabbe Jerod Horchem Kirk Larson

Steve Persinger Matt Miller Scott Livingston

Ron Wyckoff Diana Paris Chelsea Steffen

Let your voice be heard. Whether it's running for a position as a director, or joining the nominating committee to help find good candidates, we need your unique perspective to help High Plains Farm Credit continue serving rural America.

Danny Koehn, Montezuma

Matt Thielen, Dorrance

Mel Kitts, Goddard Appointed Director Jeannine Mondero, Beloit Appointed Director Melissa Hunsicker-Walburn, Hays Appointed Director

Ifyou have a story to share about agriculture and your operation, please do not hesitate to let us know. We are frequently meeting with our lawmakers to advance legislative efforts that support agriculture and would enjoy sharing your stories with them.

Scholarships Four $1,000 scholarships will be awarded to college and university students for the 2022-2023 academic year. Scholarships are renewable for I year with the stipulations of a minimum grade point average of2.5 and the student is properly enrolled in the next term or session.

The scholarships are designated to be awarded to a student whose parent (guardian) or grandparent are a stockholder with High Plains Farm Credit. Applicants should exhibit leadership potential, initiative, and have a minimum grade point average of2.5.

Vance Shay, Healy

Monte Thom, Medicine Lodge

Jared Bauck Vice PresidentMarketing

In our March newsletter, you may recall us mentioning we would be on Capitol Hill in Washington, D.C. meeting with our legislators to AGvocate for agriculture on behalf of our farmers and ranchers. Those meetings went very well as we discussed important issues impacting our rural communities such as rural healthcare and broadband access. We thank Senator Moran, Senator Marshall, Congressman Mann, and Congressman Estes for understanding how vital agriculture is to Kansas and for listening to Kansas producers as they told their story.

Completed applications must be received at the business office in Hays, Kansas, on or before 5:00 pm March I, 2022.

Getting into your country dream ��?me.ha�nev�� been easier. We have the rural home loan-aoJlitions.you need to make the move. Stay calm and couatry on with a rural home loan from High Plains Farm Credit.

Contact your local branch_office or apply today at HighPlainsFarmCredit.com , -

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Complete application information is available: • From any ofthe six High Plains Farm Credit offices • At www.HighPlainsFarmCredit.com • By emailing Shannon Schmidt, Shannon.Schmidt@HighPlainsFarmCredit.com

Our Wiring Instructions Have Changed! ' Contact your local branch office for updated wiring instructions to ensure your payments are received and posted in a timely manner.

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High Plains Humor The Best Career A surgeon, a farmer, an engineer, and a lawyer are arguing over whose career is the best.

"I think surgery is the best career because it's the oldest!" said the surgeon.

"What makes you say that?" asked the farmer. turned it into Eve."

"Well," said the surgeon, "God removed a rib from Adam and

"You are forgetting one thing," said the farmer. "Before God even created Adam, he planted a garden for Adam to live in. That makes agriculture the oldest career."

"Both of you are wrong," said the engineer. "Engineering is the oldest career because God created an entire universe out of nothing but pure chaos."

"Ha ha! I win" taunted the lawyer.

"What makes you say that?" asked the surgeon.

"Well," said the lawyer, "someone had to create that pure chaos."

Baby Announcements Chase and Faren Ostmeyer will celebrate their first Christmas with baby Kayden Kenneth Ostmeyer.

Kayden was born October 21, 2021 weighing in at 7 lbs. 7 oz. and was 20 inches long. Chase is the Regional Vice President in charge of Lending in our Hays and Phillipsburg locations. Welcome, Kayden!

Join the Conversation!

Connect with us on all of our social media platforms! Follow us on Facebook and Linkedln to stay current with everything High Plains Farm Credit. Also, be sure to subscribe to our YouTube channel so you are notified when we post new video content (like our "12 Days of Christmas - HPFC Style" Ag Parody video ... which you need to check out with the holiday's right around the comer). So, what are you waiting for? Let's get social!

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www.HighPlainsFannCredit.com

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Crop Insurance Update Just a few friendly reminders, as we finish up booking 2022 wheat acres and you start to receive your Schedule oflnsurance for your booked wheat acres. Please take time to examine the form carefully to make sure all information is accurate. If you discover errors or discrepancies, please contact your agent as soon as possible. Errors cannot be corrected at harvest or loss time. If everything on the form is correct, simply keep them for your records.

Farm Credit System

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Stockholders/Borrowers

Cory Johnson Vice President Crop Insurance

Retail Association

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620-285-6978-Office 785-656-0124-Cell

If you are planning to graze out any of your wheat, you are able to short rate those acres so you do not pay full premium on those acres you will not be cutting.

Farm Credit Banks

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Short rate provides a reduced premium rate for acreage that will be destroyed prior to harvest. Short rate acres are not eligible for a claim.

federal Farm Credit Funding Corporatlon and Selling Groups

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Barry Schwien Appraiser

Domestic and International Investors

785-798-2278-Office 785-798-7376-Cell

KEY 'Ownership -- ftepaymeot

All wheat acres and shares that are shown on the Schedule of Insurance, must match what you reported to the FSA office when you certified. If a loss would occur, the adjuster will go off the FSA certified acres. If the acres do not match, you will be paid on only what you reported to the FSA office. It is very important to make sure all acres match.

You will need to have a revised acres report signed and sent in, prior to March 15, 2022. After that date, if you did not harvest that field, you will receive a O on your production in your APH history. If you are thinking about this, please let your agent know so they can get you information about this.

loans/Funds

High Plains Farm Credit would like to thank you for allowing us to write your crop insurance. Your support and patronage are greatly appreciated.

If you have any questions or matters we may be able to help with, please feel free to give us a call.

Paige Brahe CSR-Crop Insurance

Don't Forget About LRP Insurance!

Livestock Risk Protection (LRP) is a federally sponsored program that protects the producer in the event of a decline in the markets. LRP can be 785_625_2110_Office purchased for fed cattle, feeder cattle, swine, and lamb. One beneficial 785-259-2898-Cell provision made earlier this year was adding new feeder cattle and swine types to allow livestock to be insured before birth. LRP Insurance can also be purchased throughout the year.

Want to learn more? Contact Paige Hrabe today at 785-259-2898. She is your Certified Livestock Insurance Agent that would welcome the opportunity to serve your insurance needs!

www.HighPlainsFannCredit.com

Our Second Year Was a Success!

Last year, we rolled out our inaugural High Plains Fann Credit Photo Calendar Contest that featured our stockholders' favorite agricultural photos. The support we received was tremendous as 47 photos were submitted for consideration. Although that number was outstanding, it doesn't quite top the 53 received this year! We are so appreciative of our stockholders for participating in our contest and hope you enjoy YOUR 2022 calendar!

One grand prizewinner was selected each quarter receiving $100 and photo credit. Those winners, along with their photos are below:

Congratulations to our quarterly grand prizewinners! Do not forget that we will be starting to put together the 2023 calendar shortly, which means we will need your awesome photos to make that happen! Simply submit your photo(s) to Photos@HighPlainsFarmCredit.com along with a caption and brief description (e.g. where the photo was taken, who took the photo, etc.) to be considered for the calendar.

Thanks again for making our 2022 calendar a success!

www.HighPlainsFannCredit.com

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Year-End Interest Credit Options!

If you have an installment payment due January 1, 2022 and have money in either the Installment Fund or Trust Fund, you have the option to apply those funds to your payment prior to January 1 and receive interest credit in 2021. You will receive a courtesy letter if this applies to you. Please sign the bottom of the letter indicating your option to either request 2021 credit or allow it to automatically apply in 2022. These signed letters will need to be returned to your local office by December 28, 2021.

Another option is to pay year-end accrued interest. Please give us a call and we would be happy to calculate your accrual to the end of the year. The cut-off is 11:00 am, Friday, December 31, 2021 to brin2 in your interest check.

Important Dates At High Plains Farm Credit December 15 2022 Wheat Acres Report Due December 23 HPFC Offices Closed December 24 HPFC Offices Closed January 5 Schedules of Insurance sent out for 2022 Wheat January IO H Stock Dividends Paid January 17 HPFC Offices Closed Martin Luther King Day February 15 MPCI Application/Change Forms Mailed out February 21 HPFC Offices Closed President's Day March 15 Short Rate Acres Report are due Larned Office

605 Main Larned, KS 67550 (620) 285-6978 lOLLFREE 1-800-8644458 FAX (620) 285-6140

Pratt Office

290 NE State Road 61 Pratt, KS 67214-8751 (620) 672-1265 lOLLFREE 1-866-672-1265 FAX (620) 672-5093

Dodge City Office

1405 East Comanche Dodge City, KS 67801 (620) 225-4400 lOLLFREE 1-800.289-5370 FAX (620) 225-5867

March 15 March 15 March 21 March 22 March 23 March 28 March 29 March 30 Hays Office

Termination Date for 2021 Spring Crop Insurance Premium Due Sales Closing for 2022 Com, GSORG, and SBEAN Dodge City Customer Appreciation Event Pratt Customer Appreciation Event Larned Customer Appreciation Event Ness City Customer Appreciation Event Phillipsburg Customer Appreciation Event Hays Customer Appreciation Event

2905 Vine Hays, KS 67601 (785) 625-2110 lOLLFREE 1-800-369-9625 FAX (785) 625-4309

OFFICE HOURS

7:30 am - 4:30 pm, M-Thu 7:30 am - 4 pm, Fri

www.HighPlainsFannCredit.com

Phillipsburg Office

477 F Street Phillipsburg, KS 6766 I (785) 543-6535 lOLLFREE 1-800-815-8593 FAX (785) 543-5739

Ness City Office

101 Eagle Drive Ness City, KS 67560 (785) 798-2278 lOLLFREE 1-800-950.3522 FAX (785) 798-3557