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Hutterite Banking Institute program updates

First on the Farm Newsletter

Hutterite Banking Institute program updates

Grant Olson
Ag Banking Team Lead

We held Session 1 (Class II) of the Hutterite Banking Institute program in Sioux Falls on January 12.

Ag Credit Administration Manager Joe Miller lead this session as we focused on financial statements and key financial ratios, including how to interpret them and why they matter.

We wrapped up the session with group case studies and mock loan committee meetings.

During these mock meetings, we separated the class into two groups: Group One presented a loan request as the loan officer, while Group Two played the role of the loan committee.

Then, we flipped the script and had Group Two present a loan request to Group One.

The mock loan committee exercise allowed us to put into practice what was learned in Session 1, creating discussion amongst the participants.

Additionally, it provided participants with insight into what a typical Ag Loan Committee meeting is like at The First National Bank in Sioux Falls.

For Session 2, participants attended our Cultivate Your Future event on February 16, where they heard from Tommy Grisafi, Eric Snodgrass, and Damion Mason about timely and important topics in the ag industry.

Session 3, “Establishing a Solid Marketing Plan,” took place on April 12. The focus of this session was understanding the importance of cash flow, developing a break-even, and utilizing marketing tools.

Information on our next Hutterite Banking Institute session:

  • Agribusiness Bus Tour
  • July 20, 2023
  • Obtain a better understanding of the end users and suppliers of your operation
  • Network with industry members and influencers

If you’re interested in joining the upcoming Class III of the Hutterite Banking Institute, reach out to me or give your Ag Banker a call for more information!

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