First South Farm Credit

What First South Farm Credit does

First South Farm Credit, ACA is a member-owned agricultural lending cooperative and an Agricultural Credit Association chartered under the federal Farm Credit System. Founded in 1916 and headquartered in Ridgeland, Mississippi, the institution extends agricultural, rural land, country home, timber, aquaculture, livestock, poultry, and equipment financing across Alabama, Louisiana, and Mississippi through a network of 44 branch offices. It also operates a Capital Markets division for syndicated and participated loans supporting medium- and large-scale agricultural operations. As of recent disclosures, First South holds over $2.8 billion in loans outstanding and serves approximately 10,700 member/borrowers, positioning it as the largest single agricultural lender in its three-state territory.

The cooperative generates revenue primarily through net interest income on its loan portfolio, augmented by crop insurance commissions and ancillary member services. Its core technology consists of a digital banking platform (hosted via the shared Farm Credit System portal at digitalbanking.farmcredit.net) enabling online loan management, payments, and account access, supplemented by online loan calculators and educational content. The institution's go-to-market is sales-led and relationship-driven: local loan officers develop multi-generational relationships with farmers, landowners, and agribusinesses. Pricing is quote-based and not publicly disclosed, but the cooperative's distinguishing economic mechanism is the patronage refund program, which has returned over $440 million to members across 27 consecutive years (e.g., $25.5M in March 2024 and $23.2M in 2025), effectively reducing members' lifetime borrowing costs.

First South operates under federal Farm Credit Administration oversight, holds Equal Housing Lender and Equal Credit Opportunity Act designations, and is governed by a member-elected Board of Directors. Its strategic focus spans serving core agricultural producers (poultry, cattle, row crops, sugarcane, timber), capturing next-generation farmers through YBS and New Generation loan programs, and supporting rural landowners with country home, recreational, and timber financing. Leadership comprises a President/CEO (Gines Pérez III) and senior officers covering finance, credit, lending, risk, legal, HR, IT/cybersecurity, and corporate administration.

Name

First South Farm Credit

Legal name

First South Farm Credit, ACA

Website

https://firstsouthfarmcredit.com

Company type

Private

Founded year

1916

Operating status

Operating

Headcount range

101–250 employees

Short description

First South Farm Credit, ACA is a member-owned Farm Credit System cooperative providing agricultural, land, and country home loans across Alabama, Louisiana, and Mississippi through 44 branch offices, serving approximately 10,700 member/borrowers with over $2.8 billion in loans outstanding.

Ownership category

akta.pro rank

Product category

Agricultural Lending

SIC

Short-Term Business Credit Institutions (6153), Personal Credit Institutions (6141), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Agricultural & Rural Cooperatives (Farm Credit/Co-op Banks) (FSABAEAG)

akta.pro secondary industries

Agricultural & Rural Microfinance (FSAKAGAG), SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

Keywords

• Agricultural lending
• Farm loans
• Land financing
• Rural lending
• Country home loans

Headquarters

HQ city

Ridgeland

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Revenue model

1. Loan Interest Income: First South Farm Credit generates revenue primarily through interest income on agricultural loans, land loans, equipment loans, and rural property financing. As a cooperative, interest collected from borrowers funds operations and generates surplus that is redistributed to members.
2. Patronage Refund Distribution: As a cooperative, First South returns profits to member/borrowers through patronage refunds - distributing a portion of earnings based on the borrower's use of the cooperative. This is not a separate revenue stream but rather profit sharing that reduces effective cost of borrowing for members.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

First South Farm Credit is a member-owned agricultural cooperative that provides specialized financing to farmers, rural landowners, and agribusinesses across Alabama, Louisiana, and Mississippi. Its core offerings include farm loans (for poultry, livestock, crops, equipment, aquaculture, and agribusiness), land loans (for rural, recreational, and timber property), country home loans for rural residences, and capital markets financing for large-scale agricultural operations.

Product overview

First South Farm Credit is a member-owned agricultural cooperative that offers a comprehensive suite of loan products and financial services across Alabama, Louisiana, and Mississippi. The core lending portfolio centers on four main products: Farm Loans (including agribusiness, aquaculture, crop production, equipment, livestock, poultry, new generation farmers, and YBS sub-products), Land Loans (covering land improvement, recreational property, and timber), Capital Markets (for complex large-scale agricultural financing), and Country Home Loans (for rural residential properties). Supporting services include Digital Banking, Crop Insurance, a Patronage Program (which returns profits to members), a Loan Payment Calculator, a Recreational Land Buying Guide, and Property listings. With over 100 years of experience and 44 branch offices serving approximately 9,600-10,700 member/borrowers, the cooperative distributes annual patronage refunds and maintains the largest agricultural lending portfolio in the three-state territory.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 27 consecutive years of patronage refunds distributed to members, totaling over $440 million
• +2 more outcomes

Named customers15 records

Segments5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered minor and core.

• Genuine MS® ProgramminorStrategic or Co-development Partner · 1 June 2025First South Farm Credit supports rural economic development in Mississippi through partnership with the Genuine MS® program, which promotes Mississippi agricultural products and rural businesses.
• BB Sugarcane (Kassi Berard Leger)coreOthersMulti-generational sugarcane farming operation serving as a customer of the Capital Markets division. First South has been the lender of choice since Kassi Leger's father started the farm, with the company providing financing through all growth phases.
• J.M. Jones Lumber CompanycoreOthersSawmill operation that has been a customer of First South since 1989, representing the company's expertise in timber industry financing.
• Farm Credit SystemcoreStrategic or Co-development PartnerFirst South Farm Credit is part of the national Farm Credit System, which allows the company to originate medium/large-scale agricultural loans and access syndicated or participated financing agreements with other Farm Credit System banks or commercial banks.
• Alabama Council of CooperativesminorGTM or Marketing PartnerFirst South Farm Credit proudly supports the Alabama Council of Cooperatives' annual Couples Conference, an event bringing together young and beginning farmers. The partnership focuses on educating couples about the cooperative model and fostering community among agricultural professionals.
• Women in Ag ConferencesminorGTM or Marketing PartnerFirst South supports Women in Ag conferences in Mississippi and Louisiana, bringing together women who share common knowledge of agriculture. These conferences support women in agriculture and provide networking and educational opportunities.
• Louisiana Farm Bureau FederationminorOthersMultiple First South customers and employees are active members of the Louisiana Farm Bureau Federation. The organization represents agricultural interests and provides leadership development opportunities including the Women's Leadership Committee.
• Farm Credit AdministrationcoreOthersAs a Farm Credit System institution, First South is regulated by the Farm Credit Administration (FCA), which establishes standards of conduct, reporting requirements, and operational guidelines for agricultural credit cooperatives.
• MLF/MLB Pro-Pro Classic Fishing TournamentminorGTM or Marketing PartnerFirst South Farm Credit served as a sponsor for the MLF/MLB Pro-Pro Classic Fishing Tournament, a community event for anglers, baseball players, and community supporters.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Alabama Farm Credit: A Farm Credit System association operating in Alabama, providing agricultural loans, land loans, and country home loans. Direct competitor in the same territory as First South with overlapping product suite and cooperative structure.
• Compeer Financial: A large Farm Credit System cooperative serving Minnesota, Wisconsin, Illinois, and parts of surrounding states. Comparable size, scale, and cooperative patronage model with similar agricultural lending portfolio across row crops, livestock, and rural infrastructure.
• GreenStone Farm Credit Services: A Farm Credit System cooperative serving Michigan and Wisconsin with comparable agricultural loan portfolio across diverse crops and livestock. Similar size, structure, patronage model, and emphasis on YBS farmer programs.
• Farm Credit Mid-America: A Farm Credit System cooperative serving Indiana, Ohio, Kentucky, and Tennessee. Direct peer in terms of cooperative agricultural lending model, patronage distributions, and rural real estate financing focus.
• Farm Credit Services of America: One of the largest Farm Credit System associations, serving Iowa, Nebraska, South Dakota, and Wyoming. Comparable cooperative lending model with similar portfolio mix across row crops, livestock, and agribusiness.
• American AgCredit: A large Farm Credit System cooperative serving California, Nevada, Kansas, Oklahoma, and Colorado. Comparable cooperative structure, patronage program, and diversified agricultural loan portfolio including specialty crops and livestock.
• Horizon Farm Credit: A Farm Credit System cooperative serving Delaware, Maryland, Pennsylvania, Virginia, and West Virginia. Similar cooperative structure with comparable loan products across farm, land, country home, and rural infrastructure financing.

Emerging players

• AgAmerica: A private agricultural lending platform specializing in farmland and ranch loans across the U.S., particularly the Southeast. Competes with First South on large land and rural real estate loans with a more flexible, non-cooperative structure.
• FBN Finance: The financing arm of Farmers Business Network, offering operating loans, land financing, and input financing to farmers nationwide. Emerging digital-first competitor targeting tech-savvy younger farmers that may erode First South's origination share.

Broad incumbents

• AgFirst Farm Credit Bank: A wholesale Farm Credit System bank that funds and supports Farm Credit associations across the Southeast, Mid-Atlantic, and Puerto Rico. Provides capital markets funding and infrastructure to associations like First South within the Farm Credit System.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/FirstSouthFarmCredit
• LinkedInlinkedin.com/company/first-south-farm-credit-aca
• Instagraminstagram.com/firstsouthfarmcredit

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First South Farm Credit