Iowa Public Television


Hearing Set on Rabobank Offer

posted on September 17, 2004

Omaha-based Farm Credit Services of America (FCSA) has yet to file papers with the Farm Credit Administration to exit the system.

FCSA has an offer on the table from Dutch-based Rabobank to purchase the Omaha firm for a reported $600 million to shareholders. The offer has been widely criticized by farm state interests leery of foreign ownership of the bank.

Meanwhile, the House Agriculture Subcommittee on Conservation, Credit, Rural Development and Research has scheduled a Sept. 29 hearing on the proposed sale. Subcommittee chairman Rep. Frank Lucas, R-Okla., said he expects to hear from farm credit regulators, Farm Credit System officials, banking industry representatives, and agricultural producer groups.

Tags: agriculture banks credit news