LEADER
INSIDE
LEADER
Horizon Farm Credit, ACA
Thomas H. Truitt, Jr., CEO Board of Directors
David R. Smith, Chair
Michael S. Nelson, Vice Chair
Paul D. Baumgardner
Julie Bolyard
Samuel BowerCraft
Brian L. Boyd
Kevin D. Grim
John Travis Hastings
Laura M. Heilinger
Monica Hepler
Anthony M. Ill
William K. Jackson
Carl Metzgar
Jay McGinnis
Sharon McClellan
Fred R. Moore, Jr.
Sam Parker
Brian L. Reiff
Jennifer L. Rhodes
Paul Schmidt
Richard D. Shuman
Charles F. Ulmer
Christine Waddell
Charles M. Wright IV
QUESTIONS OR IDEAS
If you have any questions or ideas for the editorial staff of the Leader, contact Becca Stoops at 888.339.3334, email her at bstoops@horizonfc.com or write her at Horizon Farm Credit | 300 Winding Creek Blvd | Mechanicsburg, PA 17050. This publication is for you, our reader. We’d love to hear from you!
The Leader is published semi-annually for stockholders, friends and business associates. If you wish to no longer receive this publication, please email: bstoops@horizonfc.com. Use “Unsubscribe Leader” in the subject line.
The Farm Credit Administration does not require the association to distribute its quarterly financial reports to shareholders. However, copies of its complete report are available upon request or see quarterly updates online at horizonfc.com
The shareholders’ investment in the association is materially affected by the financial condition and results of operations of AgFirst Farm Credit Bank and copies of its quarterly financial report are available upon request by writing:
Susanne Caughman
AgFirst Farm Credit Bank | P.O. Box 1499 | Columbia, SC 29202-1499
Address changes, questions or requests for the association’s quarterly financial report should be directed to Horizon Farm Credit, ACA, by calling 888.339.3334 or writing: Horizon Farm Credit | 300 Winding Creek Blvd | Mechanicsburg, PA 17050
MESSAGE FROM THE CEO
For over a century, Farm Credit has stood shoulder to shoulder with rural America, working not only as financial supporters but as trusted advisors, helping our customers thrive in every aspect of their operations.
That’s why we’re more than just a lender — we’re a partner in every way that matters, offering a full range of services designed to support our customers’ unique needs. From tax preparation and business consulting to crop insurance and succession planning, we’re ready to help you achieve whatever your goals may be.
What makes us unique is the relationships we build with our customers. When you partner with Farm Credit, you join a community of experts, advisors, and supporters who are passionate about your success and celebrate alongside you. We’re not just a lender — we’re your cheerleader, your advisor, and your advocate standing by your side through every season.
In this edition of the Leader, we’re sharing stories from customers who have tapped into the full range of our services, combining financial solutions with expert guidance to achieve their dreams. Their stories of innovation, growth, and resilience showcase how the right partnership can turn dreams into lasting success.
Here’s to the opportunities ahead and to growing stronger, together.
Tom Truitt Chief Executive Officer
Deep Partnerships GENERATIONAL FARM THRIVES THROUGH
Clarke County, VA
Developing strong personal relationships with customers has been a long-standing tradition for the folks at Moore & Dorsey, Inc., of Berryville, Virginia. Longevity has been a strength for their company due to their ability to work with agricultural industry personnel and companies.
Established in 1929 by E. Blackburn Moore and Ralph N. Dorsey as an apple growing partnership, the business grew into a significant supplier of fresh and processing apples for the East Coast. However, the economic downturn in the 1980s took its toll on the apple industry and the operation ultimately made the decision to end apple production.
Today, Moore & Dorsey stands as a diverse agricultural enterprise, managing 900 acres of grain, 75 acres of turf, and a thriving wholesale tree business under the stewardship of its third and fourth generations — Tupper Dorsey, his wife Wendy, and their son David.
“We work together on the grain, wholesale trees [shade and flowering], and sod businesses,” shares Tupper. “Currently, the trees are our largest product.”
Situated in the northern Shenandoah Valley, their close proximity to major cities like Washington D.C., and Philadelphia provides opportunities to work with key agricultural players. Among these is Farm Credit, a crucial partner in their growth and success.
“Farm Credit offers a wide variety of programs for businesses to achieve success,” explains Nicole Clem, the Dorsey’s Ag Relationship Manager with Farm Credit. “Our role extends beyond financial services. We also collaborate with other agricultural professionals to enhance operations.”
Farm Credit Crop Insurance Agent Ralph Stickman plays an integral role in Moore & Dorsey’s daily operations. “Farm Credit’s relationship with the Dorsey’s is dynamic,” Ralph says. “We constantly discuss ways to improve their business through yield projections, risk management, and equipment optimization. It’s a continuous, proactive dialogue.”
Story and photos by Andrea Haines
Ralph’s hands-on approach includes annual reviews of coverage levels and input costs, aiming to address potential issues before they escalate. He explains, “By staying ahead of potential problems, like deciding whether to replant corn early on, we can help manage issues more effectively.”
“When the property was an apple grove, the generations before us used a traditional bank for finances,” Tupper says as he reflected on the farm’s long-standing relationship with Farm Credit. “The decision to join Farm Credit was made in 2005. Farm Credit had a better understanding of the markets within agriculture and the fluctuation of financial needs during different seasons. To this day, I feel I can call the Farm Credit staff at any time and they are always available to help manage our needs.”
The Dorsey’s partnership with Farm Credit has allowed them to thrive, including after their recent investment on their sod cutter, which Tupper cites as a successful return on investment.
“Farm Credit understands the unique needs of agriculture, making the process of securing
“Farm Credit understands the unique needs of agriculture, making the process of securing equipment and supplies smoother and more aligned with our business flow.”
— Tupper Dorsey
equipment and supplies smoother and more aligned with our business flow,” Tupper notes. “Their support means we don’t have to justify every aspect of our operation. Knowing they’re on our side gives us peace of mind.”
David, who plays a heavy role in the crop production and sod development sections for the business, is eager to continue the farm’s legacy.
“In the next decade, I hope to see our operation expand,” David shares. “The retail portion of the sod business is directed at the public in a wholesaletype style. We want to enhance this area of our business to offer it as a farm experience that connects consumers to our lifestyle.”
With a business management degree from Elon University, David applies his academic knowledge to various facets of the farm,
including turf operations, row crop spraying, and website development.
“The support and respect I receive from Ralph and Nicole make me feel integral to the team,” says David. “We regularly exchange ideas and discuss technological innovations, which helps us stay at the forefront of the industry.”
The Dorsey family’s commitment to maintaining strong, enduring relationships with both their customers and Farm Credit continues to drive their success. As David carries forward the traditions established by his parents and grandparents, he remains dedicated to nurturing these vital connections, ensuring the farm’s legacy endures for future generations.
Learn more about Moore & Dorsey, Inc., at more mooreanddorsey.com
Chester County, PA
A Dream Come True A SIMPLE ASK TURNED INTO
Nestled near the internationally known town of Kennet Square, Pennsylvania — acclaimed as the Mushroom Capital of the World — Alberto Alvarez and his wife, Lillian Juang, call the neighboring town of Oxford their home. Their quaint farm, with its charming barns and silos, is a testament to their dreams realized. A serene driveway leads past fields where goats graze and sheep peek curiously from the barn, capturing the essence of their idyllic rural life.
Alberto’s roots trace back to a small farming town in Mexico. When his family migrated to Pennsylvania, they became involved in the mushroom industry. His father harvested mushrooms while his mother worked in a packing room. Alberto started working alongside them as a teen.
He eventually went off to college at Penn State University where he met Lillian. Alberto had no intention of working with mushrooms after he graduated. He received a degree in electrical engineering, while Lillian graduated with a degree in mathematics.
But then a simple ask turned into something unexpected.
Life took a turn after graduation when a local mushroom business sought Alberto’s expertise to get their operations back on track. His successful intervention was rewarded not with cash, but with a truck and equipment.
With a set-up ready for mushroom spawning, Alberto embraced the opportunity to dive back into the mushroom industry once again. Although there was a learning curve, Alberto committed himself to working and understanding all aspects of the mushroom business.
In 2003, Alberto founded Alvarez Spawning Services, Inc., a company dedicated to providing essential labor and machinery for the mushroom industry. With a multi-state reach across Pennsylvania, Delaware, and Maryland, the company has become a cornerstone of the industry.
“We supply machines and labor needed for compost mixing in mushroom houses,” Alberto explains. “More than half of the mushroom industry relies on our services, and we’re proud to be a key partner for mushroom growers.”
Story and photos by Maria Listman
In addition to helping other farmers build and maintain their mushroom houses, Alberto and Lillian cultivate their own mushroom bunks filled with shiitake and oyster mushrooms, which they sell to local packing rooms.
“We put our services to the test on our own farm,” says Alberto. “I believe in backing our methods to ensure customers receive the level of care and service we would expect.”
In 2013, Alberto and Lillian purchased their farm, repurposing an old dairy facility into a state-of-the-art mushroom growing space. This conversion involved meticulous control of temperature, moisture, shade, and air quality— factors so precise that the couple can feel the environment’s changes on their skin.
“You have to learn to mimic nature,” notes Alberto. “Without the right conditions, the mushrooms simply won’t grow.”
Beyond their expertise in all things mushrooms, Alberto and Lillian raise goats and sheep on their land, known as A & J Farm, LLC. The livestock started as pets for their three children, but quickly grew into a profitable business. They currently have 150 in their herd, with the desire to grow to 500 head.
“It’s been incredible to involve our whole family in this adventure. We’ve created lasting memories and developed character through our experiences."
— Lillian Alvarez
As they continue to become more seasoned in farming with each passing year, Alberto and Lillian find new ventures to explore. This year, they grew and harvested their first crop of hay. They plan to keep some for their livestock, while selling the rest to the public.
Support from Farm Credit has been instrumental in their journey. The couple utilized Farm Credit to purchase their 60-acre property. When looking to purchase equipment for their hay operation, Alberto and Lillian used Farm Credit EXPRESS to secure financing for the equipment, noting that the most challenging part of the process was making a decision on what equipment to buy.
“We were expecting a long process time like the traditional loans we had previously, but the process with Farm Credit EXPRESS was extremely smooth and we were approved right away,” says Lillian. “Thanks to Farm Credit EXPRESS, we were able to walk away with our equipment as soon as the decision was made.”
Though Alberto wished he had known about Farm Credit sooner, he and Lillian are grateful for the support they receive now.
“Alberto’s and Lillian’s commitment to making a difference in agriculture is truly inspiring,” says Gosha Auseichyk, Ag Relationship Manager at Farm Credit. “By offering the support and resources Alberto and Lillian need, we’re not just helping them grow their businesses — we’re empowering them to positively impact their communities and show what’s possible in agriculture.”
Reflecting on their journey, Lillian shares, “It’s been incredible to involve our whole family in this adventure. We’ve created lasting memories and developed character through our experiences.”
Alberto adds with a smile, “There’s a sense of freedom in this work, even if it’s hard. It’s deeply fulfilling to see our dreams unfold.”
A Bit of Change CAN BE A GOOD THING
Sometimes, the best opportunities arise from unexpected changes. For Toni and Josh Thompson, a leap from farming to retail transformed their business and strengthened their community ties.
Toni and Josh Thompson started their farm business in Hartly, Delaware, on his family’s land. Focusing on organic chicken and heritage pork, the operation averaged thirty finished hogs per summer sold at their local farmer’s market. They also hosted a CSA program from their thriving five-acre garden.
As they looked toward the future, Josh and his brother began to focus on a different type of farming — aquaculture. With an eye on growing oysters, Josh joined a workgroup to help draft legislation for oyster farming in Delaware’s Coastal Bays. The Thompson family was eager to dive into this new venture.
In 2013, they took a bold step and bought 19 acres in Georgetown, Delaware — the furthest point where oysters were still a viable option. But, when the oyster regulations got tied up in legislative red tape, Toni and Josh faced a crucial decision — stick with aquaculture or pivot once again.
Never ones to shy away from change, they decided to refocus their efforts. Their new direction started with a barn.
“We weren’t sure how we could afford to build the barn,” Josh says, reflecting on their uncertain path. The farm they bought had a home onsite that was built in the 1930s. It had an addition, but it was in rough shape and the farm didn’t have a barn for their horses or goats. They were leaning toward starting a goat dairy, but another idea took over.
Josh discovered that the Delmarva Feed store in Kennedyville, Maryland, was looking for a dealer further south. “We thought maybe if we sold some feed for Delmarva in our area,” Josh recalls, “we could be a pick-up point.”
That one simple idea changed the trajectory of their business. They went from raising Sussex County, DE
Story and photos by Maria Listman
livestock to opening a feed and supply store. In May 2016, Coastal Equine & Livestock Supply opened its doors on the Thompson Family Farm in Georgetown.
“It slowly evolved into all of this,” says Toni, gesturing around their bustling store. “We sell feed, shavings, supplements, dog food, cat food — basically, we can feed anything with two or four legs.”
With the store up and running, the Thompson’s turned their attention to their home. Josh drew up the plans for a complete renovation. They kept the foundation, some exterior framing, and a bit of flooring from the original house — everything else was rebuilt. During construction, the family of six moved into an apartment they built inside the barn. After a year of hard work, they finally moved back into their beautifully renovated home.
As the business expanded, they found themselves in need of more space and
“Just like we build relationships with our customers, Farm Credit has built a relationship with us. Working with them just feels easy.”
—Toni Thompson
equipment. They added a feed and hay storage building adjacent to the store, acquired a flatbed, box truck, and other vehicles to keep up with their growing operation.
Throughout these transitions, Farm Credit was there to support their dreams, financing every aspect of their home construction, barn, storage, and equipment purchases. The Thompsons worked closely with various Farm Credit team members, including their Ag Relationship Manager, Benjamin Somers, and Home & Land Loan Officer, Andrew Hood, to bring their dreams to life.
“I like the personalized service Farm Credit provides,” shares Toni. “Just like we build relationships with our customers, Farm Credit
has built a relationship with us. Working with them just feels easy.”
The heart of their business lies in the relationships they’ve built. “I love my customers. We talk all the time,” Toni continues with a smile. “I’ve met so many wonderful people. I have a girlfriend group, and we get together once a month. We’re all horse girls that met through this store.”
Coastal Equine & Livestock Supply has grown into a community hub where customers can back up to the feed storage building or explore the retail store for riding boots, jeans, fly spray, and more. The Thompsons even host barn nights for local riding programs, turning shopping into a social event with refreshments and camaraderie.
“We want to provide a great shopping experience for everyone who walks through our doors,” Josh explains. “If we don’t, people will just shop online instead.”
From raising livestock to venturing into aquaculture, and ultimately opening a feed and supply store, the Thompsons have shown that a bit of change can indeed be a good thing. With their community by their side, they’re just getting started on the journey of a lifetime.
Follow Coastal Equine & Livestock Supply on Facebook or Instagram at @coastalequinelivestock.
Unlock the Full Potential OF A
FARM CREDIT PARTNERSHIP
At Farm Credit, we take pride in being more than just a lender. We’re here to help you navigate every aspect of your operation, whether it’s financing, protecting your assets, or planning for the future. As a valued customer, there are many ways we can support you to ensure your operation and way of life continues to thrive for generations to come.
Here’s a closer look at all the ways Farm Credit can be your partner:
AGRICULTURAL LENDING
While you may already know us for our agricultural loans, it’s important to highlight that our lending options are designed to grow with your operation. Whether you need financing for day-to-day expenses, new equipment, or expanding your facilities, we offer loans that fit your unique business model and the rhythm of the agricultural cycle.
Our Ag Lending team can help you with:
• Operating loans to cover everyday expenses like seed, fertilizer, and feed.
• Equipment and facility loans for purchasing new machinery or upgrading infrastructure.
• Livestock loans for expanding herds or managing livestock-related expenses.
• Agribusiness loans designed for larger-scale operations or value-added agricultural businesses.
HOME & LAND LENDING
Beyond your business needs, Farm Credit also offers lending solutions for your rural lifestyle. Whether you’re considering buying or building a new home in the country, refinancing an existing property, or purchasing additional land, our home and land lending services are designed for rural properties.
Our Home & Land Lending team can help you with:
• Rural home loans designed for properties outside city limits.
• Land loans for purchasing lots, land for a future home, or recreational property.
• Construction loans to help build a home or make improvements on rural land.
• Farm home refinancing, offering lower rates or better terms to rural homeowners, and lower down payment options for first time rural property owners.
ACCOUNTING, RECORDS, PAYROLL & TAXES
Running a farm involves managing countless details, especially when it comes to finances. Our team can help you simplify your accounting, payroll, and tax obligations. We specialize in agricultural tax rules, so we can help you make the most of every deduction while ensuring compliance.
Our Accounting team offers services, including:
• Bookkeeping and accounting services to track expenses, revenues, and profitability.
• Payroll services to ensure smooth operations with employees, including payroll processing, payroll tax filings, and year-end W-2 tax statements.
Tax preparation and planning that reflects the intricacies of farm-related deductions and credits, ensuring farm businesses remain compliant while minimizing tax liabilities.
BUSINESS CONSULTING
Your business is unique, and we know that sometimes it requires having an outside perspective weigh-in on decisions. That’s why our business consulting services are designed to help you develop strategies for long-term success.
Our Business Consulting team can provide expertise in many areas, including: Farm succession planning to help you smoothly transfer ownership and navigate estate planning, tax strategies, and family dynamics.
• Business planning to determine the best business structure to achieve your professional and personal goals.
• Business analysis to provide summaries of strengths and opportunities in your operation.
• Leadership and management development to help the current generation transfer knowledge and skills to the next generation.
• Organizational development to enhance competitiveness and success in a dynamic farm economy.
CROP INSURANCE AND RISK MANAGEMENT
Farming is full of uncertainties, but you don’t have to face challenges alone. Our comprehensive crop insurance and risk management solutions are designed to protect your investment from unpredictable threats like weather, pests, and market volatility. We work alongside you to ensure you have the right coverage, so you can focus on your operation with confidence.
Our Crop Insurance team offers a wide range of products to meet your needs, including:
• Yield and Revenue Protection to safeguard against losses due to weather, disease, price drops, and production issues.
• Livestock coverage to cover you from price declines and gross margin loss in dairy and livestock.
• Crop-specific insurance to protect crops, including specialty crops and pastures, against hail, fire, and reduced rainfall.
• Whole Farm Revenue Protection that offers risk management for all your farm’s commodities under a single policy.
YOUR PARTNER IN GOOD TIMES AND BAD
Farm Credit is more than just your lender — we are your partner through it all! Whether it’s securing the right loan, protecting your operation, or planning for your future, we’re here to offer guidance, support, and expertise every step of the way.
Together, we can ensure your operation continues to thrive today and for generations to come.
If you’re interested in learning more about any of these services or how we can help you in other ways, contact our team at 888.339.3334 or visit horizonfc.com.
Scan the QR code or ask us about our scholarship program, awarding up to $10,000 to students pursing a career in ag!
Kickstart Your Career IN AGRICULTURE
APPLY FOR UP TO $10,000 TO HELP YOU ACHIEVE YOUR DREAM!
INVESTING IN THE FUTURE OF AGRICULTURE
Dreaming of a career in agriculture? Whether you’re aiming to become a farmer, food scientist, ag educator, or anything in between, we’re excited to support you on your journey. The Farm Credit Foundation for Agricultural Advancement is offering at least 20 scholarships valued up to $10,000 each!
Who’s eligible? High school seniors, trade and technical school students, and current undergraduate or graduate students in two- or four-year programs. Applicants must live within Horizon Farm Credit’s 100-county footprint or Washington, D.C. Ready to make your dreams a reality? Applications are open now through January 3, 2025. Visit FCFoundationForAg.org for more details and to apply.
Scan the QR code or ask us about our scholarship program, awarding up to $10,000 to students pursing a career in ag!
Contact info@fcfoundationforag.org with questions.
TIME TO TAKE CARE OF YOU
Life on the farm never slows down. Between long days in the fields and keeping up with family, it’s easy to put yourself last. But, making time for your own well-being is just as important as everything else on your plate, especially during this busy holiday season.
With our Member Assistance Program, you — and anyone in your household — can utilize benefits ranging from counseling to legal services, adoption resources, retirement coaching and more. All of these services can be used on demand, anonymous, and free.
When you take care of yourself, you’re investing in the future of your farm and your family. These services are here to help, whenever you need them. To learn more, call 800.968.8143.
TAKE A LOAD OFF THIS TAX SEASON
At Farm Credit, we know that farming is more than a job — it’s a way of life. Tax season shouldn’t get in the way of that.
With our team of experts on your side, you can rest easy knowing we’ll take the burden of tax preparation off your shoulders, giving you more time for your family and your farm. Let us handle the paperwork while you focus on what you love most — growing your legacy.
Contact our team at 888.339.3334 or visit horizonfc.com to discover how we can lighten your load this tax season.
Looking for more resources on farm financial wellness? Check out our library of resources at horizonfc.com/webinar.
STAY CONNECTED WITH FARM CREDIT
Strong relationships lead to success, and we’re dedicated to helping you thrive. That’s why we’re inviting you to update your contact information so we can better serve you. Whether it’s a new email, phone number, or address, keeping us in the loop ensures you receive the vital updates and support you need.
When you share your current information, you help us provide timely updates on your loans and services, improve our communication, and tailor our support to meet your unique needs.
We’re here to help you succeed, and every update you share strengthens our partnership. Take a moment to email us at info@horizonfc.com or call our Customer Care team at 888.339.3334 to update your contact information today!
