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Peoples Federal Savings Bank opens Agricultural Loan Office Sept 03, 2009


AUBURN, INDIANA (September 3, 2009) Peoples Federal is proud to announce that they will be opening an agricultural loan production office near Woodburn Indiana. The office will be located in the G & K Concepts building owned by Greg Kneubuhler dba Nester Ag Management at 23033 Antwerp Road Harlan, IN. Appointments will be necessary and can be made through the Waterloo office by calling 260-837-3080.

Larry Kummer, Vice-President of Ag Lending stated, "We feel Peoples Federal Savings Bank’s Agricultural Department has a very good opportunity to expand and gain a large customer base over time in the East Allen County market otherwise known as the farm communities of Woodburn, Monroeville, Harlan, Grabill and Leo. We have a quality product and solid reputation of dealing with the top end Ag customers in Northeastern Indiana and the East Allen County market has some of the best soils, outstanding managers, and multiple generation family farms and above average management skills. Lee Dick, who also works at Peoples Federal, and I worked in this area in the 1980’s and 1990’s".

Dave Gurtner will be leading the effort in eastern Allen County for Peoples Federal. Dave has worked as Assistant Vice President Agricultural Loan Officer Peoples Federal for two years and prior to that was an Ag teacher at DeKalb High School for 27 years. Dave graduated from Purdue with a Bachelors degree in Agricultural Education. Dave has also helped to run his family cash grain farm for 26 years.

"We feel the time is right to go back in with our Ag Team approach. Our Ag team offers an accrual financial packet which allows the customer and his banker to make solid loan and financial decisions based on their historical and projected earnings capacity, working capital and owner’s equity. Our bank understands Agriculture and has the staff with the on farm management experience to give that customer an added value product. We understand earnings, working capital, GPS, farm equipment and farm real estate with 122 years of combined lending experience amongst our six Ag specialists."; Stated Dave Gurtner Assistant Vice President Agricultural Loan Officer.

Maury Winkler President of the bank stated, "This is a key step in growing what we consider to be an important line of business in our bank. We are excited about serving this new area and look forward to providing the agricultural community of eastern Allen County with agricultural banking products and superior banking service."