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How to develop financial statements and what to do with them

Farmers prefer to spend their time in the tractor or barn… and less time to develop financial statements. Because of this, many farmers and ranchers struggle when preparing financial records for their businesses. Here are two questions we often hear from farmers...

FINPACK Training Announcement

Due to COVID-19, the 2020 FINPACK Training for Lenders will be held virtually. We will hold five sessions over two weeks, with each session covering a specific part of FINPACK Credit Analysis. All sessions will run from 10 a.m. CT until noon each day. The schedule...

2019 FINPACK Annual Update

The 2019 FINPACK annual update is here.  Each year there are enhancements and updates to the FINPACK software.  In 2019, you’ll notice there are some important updates and new features to take note of.  Let’s take a look at What’s New. Legacy...

Minnesota Farm Income Hits Historic Low

After adjusting for inflation, Minnesota farms earned the lowest median farm income in the past 23 years of data tracked by University of Minnesota Extension and Agricultural Centers of Excellence within Minnesota State.   In 2018, the reported median net income was...

Farm Incomes Take Another Dip in 2017

Minnesota farmers experienced their fifth consecutive year of low profitability in 2017. The median farm earned $28,551, down slightly from just over $36,000 in 2016.  Declines in farm income were largely driven by low profits and losses for cash crop farms,...