AgStar announces mid-year earnings see $6.4 million hike

AgStar Financial Services reported last week that its earnings for the first half of 2012 were $48.4 million. That’s a $6.4 million increase over last year’s first half performance.

“The key agricultural sectors have seen a successful year, contributing to our strong results this year,” said Paul DeBriyn, president and CEO of AgStar. Factors contributing to the increased earnings include favorable interest rates, strong client loyalty, increased crop insurance sales and a one-time insurance premium refund.

In August, AgStar will distribute allocation notices to stockholders from its 2011 earnings, which total $40.3 million.

AgStar serves multiple counties in Minnesota and northwestern Wisconsin, including Goodhue and Pierce counties.

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