The Iowa Finance Authority (IFA) recently announced that Lincoln Savings Bank (LSB) has been named the Top Beginning Farmer Lending Institution of 2023, along with Nathan Ragsdale, Assistant Vice President and LSB Relationship Manager being named Beginning Farmer Loan Officer of the Year.
The awards recognize the lending institution and loan officer who assisted the most individuals through the Beginning Farmer Loan program for 2023. These accolades honor the exceptional dedication and support provided by LSB to aspiring farmers through the Beginning Farmer Loan program.
With a legacy dating back to its inception in 1902, Lincoln Savings Bank has been steadfast in its commitment to assisting farmers in realizing their dreams. The bank's Agricultural lending team boasts combined experience of 126 years, underscoring LSB's deep-rooted expertise in agricultural financing.
Sean Willett, CEO of Lincoln Savings Bank, expressed gratitude upon receiving the award, stating, "This recognition reaffirms our commitment to our ag communities. We are honored to be acknowledged as the Top Beginning Farmer Lending Institution of 2023 and remain dedicated to fostering the success of Iowa’s beginning farmers."
Nathan Ragsdale, the recipient of the Beginning Farmer Loan Officer of the Year award, echoed Willett's sentiments, emphasizing LSB's dedication to supporting the next generation of farmers. Ragsdale stated, "At Lincoln Savings Bank, we strive to provide beginning Farmers with the resources and support they need to thrive."
The Beginning Farmer Loan Program assists new farmers in acquiring farmland, buildings, machinery, equipment, and breeding livestock at reduced interest rates. These loans are financed by participating lenders or contract sellers with federal tax-exempt bonds issued by the Iowa Finance Authority. In addition, the interest received on contact sales or direct loans by individuals is also exempt from state income taxes.
For more information about Lincoln Savings Bank, its agricultural lending programs, or any of their many financial services, visit www.mylsb.com.
