5111 Commerce Crossings Dr, Ste 112, Louisville, Kentucky, United States of America, 40229
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First Financial Bank Named ICBA Top Lender of 2024 in the Agriculture Sector
August 7, 2024 - El Dorado, AR – First Financial Bank has been recognized for the second year in a row as the Independent Community Bankers Association (ICBA) Top Lender of 2024 in Agriculture: More than $1 billion in assets category. This prestigious recognition is given annually to honor banks that have demonstrated exceptional commitment to serving their agricultural customers.
First Financial Bank has a long history of supporting the agricultural community. The bank offers farmers and ranchers a wide range of products and services, including financing for new farms, real estate purchases, equipment and building leasing options, expanding existing operations, equipment, supplies, and more. First Financial Bank is a Farmer Mac approved lender, FSA Preferred Lender in all 50 states, and approved to offer SBA 7(a) loan products under SBA’s Preferred Lender Program. The bank also has a team of experienced agribusiness lenders who provide personalized service to its agricultural customers because they are farmers and ranchers themselves.
“We are humbled to be recognized by ICBA as the Top Ag Lender in the nation for 2024 in the $1 billion assets category. This distinction would not be possible without our customers, who’ve trusted us as their lending partner, and our team members, who’ve provided the dedication, expertise, and execution to earn this recognition,” said Ben Chandler, Managing Director of the Poultry Lending Division at First Financial Bank.
In addition to its Poultry Division, First Financial Bank offers a Farm and Ranch Division that provides customized financing solutions to farmers and ranchers nationwide.
“We are honored to be once again recognized by our peers as the Top Ag Lender in the nation. Our lenders travel nationwide to meet with our customers at their homes, combines, barns, or wherever is most convenient for our customers. Our success belongs to our customers for their faith in us, their continued referrals, and our FFB team for their dedication,” said Kathy Daily, Managing Director of the Farm and Ranch Division at First Financial Bank.
The ICBA Top Lender program recognizes banks that have demonstrated a strong commitment to their communities and to the industries they serve. Banks are evaluated on various factors, including their loan volume, involvement in agricultural organizations, and commitment to providing financial literacy education to their agricultural customers.
About First Financial Bank
First Financial Bank, founded in 1934, is a trusted and reliable financial partner for individuals and businesses. With a mission to provide personalized and innovative solutions, First Financial Bank offers a comprehensive suite of financial products and services delivered with unmatched service. Whether you’re looking to open a new checking account, finance a farm, expand your small business, or invest for the future, First Financial Bank is in the Business of YOU.
(Member FDIC, Equal Housing Lender)
Building, Equipment, & Asset Leasing with the Top Ag Lender in the Nation
First Financial Bank is a leading financial institution with strong ag lending expertise. We are proud to have been named the 2023 “Top Ag Lender in the Nation” in the $1 billion asset category by ICBA. We are committed to understanding your long-term objectives and developing personalized strategies to give you the financial foundation you need for success.
Whether it’s equipment, buildings, or something else, when you partner with First Financial, we can help you invest in your operation without straining your resources. Our goal is to help you preserve your liquidity, optimize your tax deductions, and lease the asset that fits the needs of your operation.
Why a lease might work for you
- Minimize capital outlay
- Maximize or accelerate your tax deductions*
- 100% financing options
- Fast approval time
How a lease might work for you
- Lease equipment up to 7 years; buildings and grain bins up to 10 years
- Lease for another period of time if applicable
- Choose monthly, quarterly, semi-annual or annual payments
- Set residual value of 10, 20, or 30%
- Sale/leaseback options
The flexibility of leasing could be a great fit for your financial needs. Get the improvements you need fast, with extra benefits along the way.
Farm Real Estate Revolving Line of Credit
Does a Revolving Line of Credit Loan (RLOC) meet my needs?
Do you need to use the equity in your farm to purchase
more farm land?- Will you need all of the loan proceeds at once, or over
several months? - Do you need financing to develop raw land
for permanent plantings?
If you answered yes to any of these questions, then a Farmer Mac Farm Real Estate RLOC may be for you.
Farm Real Estate Revolving Line of Credit
Guidelines:
- Loan-to-value up to 50% of bare land value
- Minimum debt coverage of 1.35:1
- Debt-to-asset ratio maximum of 50%
- Current ratio minimum of 1.25:1
- Minimum 680 credit score
- Minimum Loan size of $50,000
- Collateral for the loan is first lien on real estate
Features:
- Borrowing power up to 50% of your bare land value
- A 5-year interest-only draw period option, followed by a 15, 20, or 25-year amortization
- The option to renew the 5-year interest-only draw period for an additional 5 year period
- A 10-year interest-only draw period option*, followed by a 10, 15, or 20-year amortization
- The maximum term of the loan including the draw period is 30 years
- Option to convert to other loan products
- Unlimited draws, $2,500 minimum
- Semi-annual interest payments during the draw period
- Tax-deductible mortgage interest**
*Farmer Mac will review at five years from point of closing. If review is unacceptable, the remaining draw period may be terminated and the outstanding balance amortized over the remaining term. **Consult your tax advisor regarding tax-deductibility of interest. Loan availability subject to borrower meeting eligibility and credit guidelines. Terms subject to change.
Your operation's biggest investment is real estate.
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| Locations | Address | State | Country | Zip Code |
|---|---|---|---|---|
| First Financial Bank-Farm & Ranch Division | 5111 Commerce Crossings Dr, Ste 112, Louisville | Kentucky | United States of America | 40229 |
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