Plains Farm Credit Newsletter
Photo Contest
“Big New World”
By: LeaAnne Huffman
Cunningham, Kansas
2026 PHOTO CONTEST: NOW OPEN!
Have you submitted your pictures of the plains for the chance to win the $100 quarterly prize and to earn a spot in our 2026 calendar?
It’s not too late! Each quarter, we select finalists from our growing collection and take to Facebook to vote on a winner. We also love to share a variety of submissions across our publications!
Ready to enter? Here’s how:
Step One
Highlight the natural beauty of our rural region and select your favorite photo(s)! You can participate as many times per year as you’d like.
Step Two
Prepare your submission by including a photo title, description, location, and photographer name. (Hint: Check out our website for more details!)
Step Three
Submit your entry as a digital photo to Photos@HighPlainsFarmCredit.com. Choose the largest file size (greater than 1 MB or the “Actual Size” setting.)
NEW WEBSITE... LOADING!
The secret is out! High Plains Farm Credit is working on an exciting project coming soon: the launch of an updated website! Technology is constantly changing, offering new opportunities to enhance features and implement the latest security measures. That’s why our team is hard at work creating a platform that will improve your online experience, while allowing HPFC to remain at the cutting edge of digital technology.
From 1916 to 2025, we’ve served farmers and ranchers with our core values at the heart of all we do, and this project is no
exception. In fact, a secure, simple, and streamlined online experience is a key element of our goal to serve you, our customer-stockholder, with premier ag lending options and financial solutions. We hope you feel the improvements demonstrate our dedication to operate with adaptability, teamwork, a will to win, and customer commitment as our central focus.
While you’ll notice changes to the look of the website, you’ll find us in the same place (HighPlainsFarmCredit.com) and with access to all your favorite information
This Issue
President’s Insights
Find out more about HPFC’s commitment to reducing regulatory burden and costs. 3
4
Record Patronage in 2024
Customer-stockholders are getting ready for another year of recordbreaking patronage.
Take a deep dive into interesting twists in 2024 land value trends. 6
Kansas Land Value Trends
Nominating Committee
Director elections are right around the corner! Time to get involved! 8
9
Association News
Catch up with the HPFC team and learn about what we’ve been up to in 2025.
Crop Insurance
Have questions about Livestock Risk Protection? You’re in luck because our team has the answers. 10
and tools, such as Online Banking. You’ll also have the opportunity to explore updated content and new resources to help you and your operation thrive. Everything will be available as a safe and complete hub for all-things High Plains Farm Credit.
Keep your eyes peeled for more information on the launch. The HPFC team is excited to utilize the website as a tool in providing top-tier services to our farmers, ranchers, and agribusinesses.
REGULATORY BURDEN COSTS ALL OF US President’s Insights
THE BOARD AND MANAGEMENT OF HIGH PLAINS FARM CREDIT
(HPFC) are perpetually focused on the safety and soundness of the Association and that focus comes with a cost. The time and effort associated with regulatory compliance represents a challenge for regulated financial institutions like HPFC. This is driven by the growing volume and complexity of regulations, which require institutions to allocate substantial resources to ensure compliance. These regulatory requirements translate into vast administrative responsibilities and higher operational costs.
The Farm Credit Administration
The Farm Credit Administration (FCA) is an independent federal agency responsible for regulating and examining the Farm Credit System (System). Its mission is to ensure that these institutions are safe, sound, and dependable sources of credit and related services for agriculture and rural America. Additionally, the FCA provides oversight to maintain the financial health and operational integrity of the institutions it regulates. We are fortunate to have a regulator that understands agricultural lending. While we believe FCA works hard to fulfill its mandate without disrupting Farm Credit’s mission, System institutions collaborate and work hard to maintain balance. Such efforts are constant and will continue.
Multiple Mailers
One of the recurring questions from our stockholders is the excessive number of mailers they receive during elections and the distribution of our annual report. Current FCA regulations mandate that each stockholder receives a copy of these materials. These regulations, while ensuring
transparency, result in higher printing and postage costs due to the need for multiple copies of reports and mailers being sent to the same address.
To address this issue, HPFC has proposed that the FCA regulations be reviewed to allow for one copy of materials to be delivered per address, rather than per stockholder. Additionally, the FCA should consider allowing institutions to notify stockholders of the availability of the annual report online, rather than mailing physical copies. Allowing electronic communications and a single copy per address could substantially reduce these costs.
Late Ballot Storage
Another area of concern is the storage of undeliverable, late, and invalid ballots. FCA Regulations mandate the retention of ballots that have no bearing on our election results for extended periods of time, which is both costly and burdensome. HPFC has recommended that the FCA consider setting a limit on how long tabulators should retain late ballots (e.g., 30 days after the close of an election, rather than the 4 years that is currently mandated). This change would reduce storage costs and administrative burdens without compromising the integrity of the election process.
CFPB Reporting Requirements for Farm Credit
The Consumer Financial Protection Bureau (CFPB) has implemented stringent reporting requirements for financial institutions, including Farm Credit Institutions. You read that right, another regulatory agency has decided to add to our regulatory burden. The CFPB requirements are designed to ensure transparency and protect consumers. Institutions must collect and report detailed data on
small business lending, which involves significant technological updates to track new data, and requires more time and resources. This is a significant investment for HPFC and our stockholders. HPFC leadership believes the current administration’s focus on deregulation will benefit the System and all Americans. Like you, we are anxious to see how that philosophy affects CFPB guidance.
Conclusion
Kevin Swayne President
The regulatory burden on financial institutions, including High Plains Farm Credit, is substantial and growing. By revisiting and updating certain regulations, we can reduce costs and improve efficiency while maintaining compliance and transparency. Our board of directors have engaged with FCA to consider the changes noted above which will alleviate the regulatory burden on our institution and better serve our stockholders.
We are committed to reducing regulatory burden and costs.
2024 PATRONAGE ANNOUNCED
HIGH PLAINS FARM CREDIT IS DEDICATED TO BEING a trusted partner in our stockholders’ operations by providing reliable credit, competitive rates, and a range of financially related services to support stockholders during challenging times.
In 2024, High Plains continued its strong earnings performance, achieving $42.1 million in net income, which benefits our stockholders. This success enables us to return these earnings to our member-owners through our
on eligible loans by one percent.
We are proud to announce that in March, High Plains will distribute a record-breaking $19,200,000 in patronage dividend checks. Over the past three years, your board of directors has declared and paid $51.9 million in patronage distributions, demonstrating our commitment to supporting our members, especially as many of you navigate difficult economic conditions.
Additionally, all stockholders can take advantage of the HPFC Preferred Investment Account, a valuable resource for managing finances
6.13%, with a rate of 5.25% at the end of January 2025. Dividends are paid semiannually in January and July each year.
To learn more about this program, the current rate, and our other services, please visit HighPlainsFarmCredit.com or contact your local branch office.
John Booze Chief Financial Officer
$19.2 2023: $17.3
Patronage to Farmers & Ranchers
$19.2 MILLION million 2022: $15.4 million 2021: $14.2 million
UP, DOWN, AND EVERYTHING IN BETWEEN. It’s a new year and the High Plains Farm Credit appraisal team has recently completed its yearend analysis. HPFC keeps records of land sales in our area throughout the year to help us analyze the direction of the market. This year’s trends offer an interesting look at Kansas land.
General Overview
In the past five years, our area has seen an increase in land values of around 60%. The trend in land prices for this year seems to show that there is volatility in the market. Many counties showed increases in some land types and decreases in other land types.
Eight counties analyzed showed increases in all land types: Decatur, Barton, Hodgeman, Gray, Ford, Graham, Russell, and Smith. Conversely, four counties showed decreases in values for all land types: Barber, Lane, Kingman, and Norton. These trends can be influenced by differing numbers of sales in an area (more or less than the year before) and by individual sales that are outliers to the market as a whole.
The ratios in this article are for land within the High Plains Farm Credit territory, plus a few counties on the edge of our territory. These figures are based on closed sales that are considered arm’s length transactions.
The value of good upland crop ground (considered productive Class II soils) showed a decrease of approximately 2%. Meanwhile, the value of marginal crop ground (Classes III, IV, and VI soils) increased approximately 3%. CRP showed an increase of approximately 6% and irrigated land values decreased by approximately 1%.
Trends by Region
When studying land prices by region (see map on right), the values in our area are fairly consistent from north to south. However, we do typically see an increase in land values farther east in our territory.
The largest increase in value appears to be in pasture. This makes sense, given the current strong cattle market. In fact, the Southwest Region showed a year over year increase
LAND Value Trends
with Kirk Green, Senior VP Appraiser
in pasture values of 60%. This may be the result of just a few very high sales, but it also may be related to the Hilmar Cheese factory coming into the region. The opportunity is causing an increase in the dairy herd in that region, and those dairies are actively looking for more land.
In addition to this trend, we have been watching an increase in the speculative market near the bigger towns in our region such as Hays and Dodge City.
The leveling off and continued uncertainty of where interest rates may be headed could be the reason for the lack of a strong signal as to whether the land market is going
up, down, or holding steady. There is still quite a bit of cash out in the country that plays a role in keeping the market up. There is also still a very strong recreational market in much of our territory. As the year progresses, we will continue to monitor any developments that may affect values. HPFC currently has five state certified appraisers on staff that are continuously watching the market and monitoring land values. If you need agricultural land appraised for estate purposes, for buying or selling, or for any other purpose, please let us know. We welcome the opportunity to assist you.
CROP GOOD
PASTURE
Regions Analyzed
Northern Region
Decatur, Norton, Phillips, Smith, Sheridan, Graham, Rooks, and Osborne
Central Region
Gove, Trego, Ellis, Russell, Lane, Ness, Rush, and Barton
Southwest Region
Hodgeman, Gray, Ford, Edwards, Kiowa, Meade, and Clark
Southeast Region
Pawnee, Stafford, Pratt, Comanche, Barber, Kingman, and Harper
ARE YOU READY TO VOTE?
IN 2025 THERE ARE THREE OPEN DIRECTOR SEATS TO BE ELECTED: two from Territory One and one from Territory Two.
During the month of February, elected members of the nominating committee met to select candidates for the board of directors and nominating committee. The HPFC Nominating Committee is comprised of an independent committee of voting stockholders, specifically tasked with reviewing and nominating candidates for positions on the board of directors and the nominating committee.
There are a total of six candidates seeking election for the three seats. The nominating committee conducted an extensive candidate search, starting with a conference call in January and then meeting in February. Potential qualified candidates were actively solicited for all positions.
At the association’s annual meeting in May, voting stockholders in attendance will be permitted to make floor nominations for every open stockholder elected director position and nominating committee position. Floor nominations may be made by a voting stockholder and require a second by another voting stockholder.
If you have any questions regarding the floor nomination process or the benefits of and qualifications for being a board member, please contact any HPFC office or scan the QR code in this article.
Candidates are listed on the right by open seat and alphabetically by name. The election for each position is conducted independently, with each voting stockholder given an opportunity to vote for each of the three open positions. Again this year, you will have the option of completing a paper ballot or an online ballot.
Election Timeline
Voting for directors and nominating committee will be by mail or online ballot, sent within 10 business days following the annual meeting. The election polls will close at the end of the 20th business day following the date on which the ballots are mailed/ emailed to the voting stockholder.
A third-party election tabulator will count the votes and declare the winners. Additional information regarding the nominees and the election process will be sent in April.
Sincere Thanks
Special thanks to our 2025 Nominating Committee members; John Blackwell, Rhonda Goddard, Lindy McMillen, Joss Briggs, Jerod Horchem, Kirk Larson, Matt Grabbe, Brad Werner, Jared Petersilie, and Diana Paris; as well as all the candidates for agreeing to be a part of this year’s ballot.
Territory 1 Territory 2
2025 CANDIDATES
Board of Directors
Territory 1
Ashton Gebhard
Colby Greving
Kelly Overmiller
Matt Thielen
Territory 2
Daniel Cossman
Kevin Larson
Nominating Committee
Territory 1
John Blackwell
Joss Briggs
Cole Dinges
Rhonda Goddard
Jared Petersilie
Chelsea Steffen
Territory 2
Brent Diel
Jerod Horchem
Kirk Larson
Lindy McMillen
Diana Paris
Brad Werner
Norton, Phillips, Smith, Sheridan, Graham, Rooks, Osborne, Gove, Trego, Ellis, Russell, Rush, Barton, Pawnee
Lane, Ness, Hodgeman, Edwards, Stafford, Ford, Kiowa, Pratt, Meade, Clark, Comanche, Barber
ASSOCIATION NEWS
GROW YOUR FUTURE FORUM 2025
IN FEBRUARY, HPFC STAFF HAD THE OPPORTUNITY TO TRAVEL TO Salt Lake City, Utah with some of our young, beginning, and small (YBS) producers for the third annual Grow Your Future Forum (GYFF). The conference, organized by the Farm Credit Associations in the CoBank District, is designed to help YBS producers enhance their business skills, build valuable relationships, and learn from producers across the country. This year, HPFC sponsored all trip-
related and conference expenses for three customer groups: Marc and Brianna Molitor, Jeremy and Tori Mock, and Cole and Kristin McClaren. HPFC Chief Lending Officer, Rob DeWeese, and AVP Loan Officer, Sarah Linenberger, joined these customers for an event full of networking, expert information, and exciting activities.
GYFF attendees enjoyed a tour of Ballerina Farm, learned about business success from Dr. David Kohl, completed a financial analysis workshop, and more. Thank you to Western AgCredit for hosting this year’s event and to the HPFC producers that spent time away from their operations to learn and grow with us in Utah!
Andrea Clinkscales Vice PresidentCapital Markets Servicing Hays Office
Taylor Redinger Vice PresidentLending Phillipsburg Office
Heather Langford Lending Operations Coordinator Pratt Office
During the conference, YBS farmers and ranchers attended sessions and workshops, gaining tools to help their operations thrive.
Pictured Above:
YBS producers from around the country visited Ballerina Farm for a tour of the operation.
Pictured Left:
Spring 2025 Information
FROM CROP INSURANCE
JUST THE FACTS ABOUT LRP (LIVESTOCK RISK PROTECTION)
IN JANUARY, OUR CROP INSURANCE TEAM HOSTED
four informational events for local producers, highlighting key information and answering questions about Livestock Risk Protection (LRP). We’ve gathered some of the most commonly asked questions about LRP coverage that protects livestock producers, their operations, and their profits. Check out the full list of questions online and get in touch with our agents if you have others! What is Livestock Risk Protection?
Livestock Risk Protection is a federally sponsored program designed to insure against a decline in livestock market prices. It offers a variety of coverage levels and insurance periods and can be purchased for fed cattle, feeder cattle, and swine. Thanks to a 2022 provision, feeder cattle and swine may be insured before birth.
Whether you’re facing the difficulties of herd expansion, input volatility,
or cyclically lower prices, LRP offers coverage for the unique risks livestock producers encounter.
How does LRP work?
When purchasing LRP coverage, producers select an end date near the expected sale date and a coverage price level. When insured livestock are sold, LRP pays an indemnity if the ending value (determined by the Chicago Mercantile Exchange) is lower than the insured value.
When are premium payments due?
LRP premium payments are due at the end of the insurance period, allowing you to pay premiums after the sale.
Is there a policy limit?
Yes. Policy limits for Livestock Risk Protection are as follows:
• 12,000 head per endorsement
• 25,000 head per crop year
Are fed cattle required to go to slaughter at the end of the endorsement period?
Yes. Fed cattle are required to go to slaughter at the end of the endorsement period. Feeder cattle, however, are not required to be marketed at the end of the endorsement period if the insured retains ownership or places the cattle in a feedlot.
Do I have to sell my unborn calves on or by the end date?
No. You can retain ownership on unborn calves. Alternatively, you can retain ownership and put another endorsement on them. Note that you can sell 60 days prior to the end date. Does LRP cover mortality?
No. If an animal on LRP dies, the insured must let the agent know within 72 hours of their findings. The insured will then have to sign a death certificate.
Is there a penalty if cattle do not reach the target weight?
If the covered livestock does not meet the minimum allowed target
Q1 Photo Contest Submission “Evening Cloudburst”
Submitted By: Cheryl Schmeidler
Location: Ellis County, Kansas
weight, the number of covered livestock will be adjusted, unless you can establish that extraordinary circumstances caused the livestock to weigh less than the minimum target weight (for example, drought causing lack of feed).
Once the original LRP policy on feeder cattle expires, can I take out another policy on the same group of cattle?
Yes. An insured can take out an additional LRP policy on the same group of cattle.
For example: An insured intends to raise his/her calves up to 650 pounds and then sell them to someone else. He/she takes an LRP policy on this basis. However, once the cattle reach 650 pounds, the insured decides to keep the cattle and feed them out to slaughter weight because of a changing market and feed conditions.
Once the original LRP policy expires, the insured could take another LRPFeeder Cattle policy out on this same group of cattle and insure them up to a specific target weight.
Can I buy or sell a put option on the Chicago Mercantile Exchange (CME) and have an LRP policy?
Yes. Producers can simultaneously buy or sell CME put options and have LRP coverage on the same livestock.
How does drought affect LRP policies?
In the instance of the drought our region experienced years ago, the Risk Management Agency (RMA) lifted the rule in place that prevented producers from selling until 60 days prior to the end date.
Is LRP subsidized?
Yes. Make sure you have AD-1026 completed at FSA to ensure you receive the subsidy. How do I get an LRP policy?
Contact Paige or Cory to set up a policy prior to when you need an endorsement. Once you have a policy, your agent can write an endorsement any time after the markets have closed until 8:25 am CT the next day. (Markets must be open to write an endorsement).
Scan to read all questions!
Q1 Photo Contest Submission
“Icicles on the Grainery” Submitted By: Grant Pfannenstiel Location: South of Munjor, Kansas
March 17th
Dodge City Customer Appreciation Event
March 18th Pratt Customer Appreciation Event
March 19th
Larned Customer Appreciation Event
March 24th Ness City Customer Appreciation Event
March 25th
March 26th
April 18th
May 22nd
May 26th
June 2nd
July 1st
July 4th
July 10th
July 15th
Phillipsburg Customer Appreciation Event
Hays Customer Appreciation Event
HPFC Offices Closed - Good Friday
HPFC Annual Meeting
HPFC Offices Closed - Memorial Day
HPFC Director Election Ballots Mailed/Emailed
HPFC Director Election Closes
HPFC Offices Closed - Independence Day
HPFC Preferred Stock Dividends Disbursement
Acreage Reporting Deadline (Corn, GSORG, SBEAN)