BlogPhoto-Q&AJoshPhil-102517

Digging Our Heels In

Q&A with Josh Kayser and his banker, Phil DeGroot

As the combine pressed forward, it pressured critters to scamper from beneath the stocks. There were fat raccoons who had feasted on corn, pheasants easing into flight, and rabbits bounding through the rows. It was the quintessential meeting of man and nature.

In an industry like ag, the volatility can be extreme. Although the Kayser brothers prepare, research, and predict, it’s Mother Nature who ultimately decides if she’s going to bless the fields with a perfect balance of sunshine and rain or scorch acre after acre of crop under the searing sun. Each year is different.

But, farmers are resilient. They take what they can get in the fall and immediately begin planning for the next planting season in the spring. They look at things like how to maximize yield, moisture content of their crop, quality of soil, specific seed hybrids, research results to determine the best population of seed in an area… and, the list goes on. They may even overlay yearly topography maps of their land to determine what’s working and where they need to make adjustments.

Phil DeGroot, ag banking team lead, works with Josh Kayser and his two brothers to study patterns, opportunities, and risks in their financials, often right from the seat of a combine. Most being farmers themselves, First National Bank ag lenders understand the business. They know there is rarely time to spare so they will often meet farmers in their fields.

The Kaysers’ operation is located just outside of Emery, SD and focuses on the harvest of corn and soybeans. Many times, Josh and his brothers will work well into the night, harvesting row after row, so they can start another field in the morning. Farming is big business that can be highly profitable or sickeningly futile. It’s a way of life that is passed down from generation to generation – a way of life that requires perseverance and heart.

In the following Q&A, Josh and Phil discuss the value of mistakes, the dynamic of a Client/Banker relationship, and the challenges of the past year.

Q: In 5 words, how would you describe the way you live your life?
J: Dedicated, family, friends, trust, honest

P: Organized chaos, driven, family-oriented

Q: It’s been a challenging year in the ag industry. How do you deal with that?
J: The obvious challenge right now is profitability. We are taking a systematic approach to attack the issue: lowering expenses, taking advantage of marketing opportunities, and looking at where we can be more efficient.

P: Communication is key. Understanding what everyone is thinking and making sure everyone is on the same page whether good or bad.

Q: What would make the world a better place?
J: If we could get people to actually sit down and explain their thoughts and beliefs with each other instead of joining in the volatile rhetoric that exists online. I try to listen to everyone, even those I may not agree with, and try to gain an understanding of our differences.

P: Josh makes a valid point, there’s no doubt about that. But, $4.50 corn… now, that’d be something!

Q: The two of you have an interesting relationship as Josh is not only your client but also a coworker. I would imagine that’s a delicate balance.

J: It’s been a great experience. I’ve learned a lot from Phil by working alongside him and learning more about banking. Phil and I will often kick around ideas, and he helps me see how they may look from the banker’s side of the desk. I think with my experience in production, I help Phil see some of the other side.

P: Actually, it has worked really well. Josh had a good understanding of banking when he started, but now with a year of experience, he can look at Kayser Farms and his own customers’ operations with a new perspective.

Q: We just released the Kayser Farms commercial this past month. How was seeing it for the first time?
J: It was a bit awkward for me; I’m not one to be in the spotlight. The response has been overwhelming. I have had numerous people call, text, and grab me saying how they enjoyed hearing my story.

P: I think it’s been great! Others can relate to what Josh is going through each year on his farm, because every other farmer deals with the same thing. We also had so much respect for him that during the filming of his commercial, we offered him a job.

Q: What does having a healthy relationship with your banker look like?
J: Open dialogue. I want to be able to kick ideas around with my banker and make sure they make sense for our operation. I don’t want a “yes” man; I want someone who challenges my line of thinking and brings a different perspective. My banker shares his experience and knowledge of agriculture, and I love that he also participates in a farming operation.

Q: What does success look like to you?
J: Success to me is accomplishing a goal, no matter how small. It’s also defined by the relationships a person holds. I think every mistake I’ve made was caused by quitting or giving up.

P: Finding whatever it is in life that you really enjoy and then doing that every day. When you look back, can you say you were happy or will you have a pile of regrets? If it’s mostly happy, I’d say you succeeded.

Q: Is there anything else you’d like to share?
P: After having been at First National for just shy of two years, I now know why employees love working here and customers love doing business here. There’s a family atmosphere and everyone feels like they’re rowing the ship in the right direction.

Are you ready to Stop Dreaming and Start Doing? Get ahold of Phil, Josh, or one of our other ag experts today to get started.