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VOL. No. 6.


ORLANDO, FLORIDA


November 1957


The Board of Directors Announce--

Lacy Tait and Dave Lunsford receive the title of Ass't.
Secretary of the association as they move into field of-
ficespreparatoryto expanding the services of the asso-
ciation.

You are invited to visit the offices. Each office will have
a complete operation to serve the members in the area.


W. Lacy Tait
Ass't. Secretary


Postoffice Box 786
206 Avenue D, N.W.
Winter Haven, Florida


David F. Lunsfor,
Ass't. Secretary


U


Postoffice Box 1415
910 South Bay Street
Eustis, Florida


Serving Growers of Florida Citrus


I








tUl E C Eion
llE)Ew pla/()


Florida Citrus Production Credit Association


COMPARATIVE MID-YEAR REPORT


ASSETS


FINANCING OF PRODUCTION

From the bloom to the car, the expense is a part of the product-
ion cost. The production financing loan is arranged by the mem-
bers of the association as it is needed. With loans adequate and
with disbursements of funds to meet discount dates, the members
of the Florida Citrus Production Credit Association have a credit
home second to none. With 24 years of experience, its directors
among the ablest growers in the state, the production program is
reliably set up.


JUNE 30, 1955


Loans to Members. . . . .... . $2,418,878.
Less Provision for Estimated Losses. . (17,686.)
Accrued Interest Receivable on Loans . 61,040.
Cash on Hand and in Bank. . . ... ... .840.
Consolidated Federal Farm Loan Bonds - -
U. S. Government Bonds ....... .. 603,620..
Accrued Int. Receivable on Securities .. 1,698.
Investment in FICB Class "B" Stock . - -
Furniture, Fixtures, Equipment (Book Value) 5,037.
Other Assets. ................ 1,546.

TOTAL ASSETS. . . . ..$3,074,973.


JUNE 30, 1956

$2,637,704.
(36,933.)
67,698.
1,683.

602,992.
1,698.

4,874.
3,999.

$3,283,715.


JUNE 30, 195'

$3,673, 145.
(59, 701.)
80,895.
240.
107,250.
602,364.
2,713.
14,255.
8, 190.
4,738.

$4,434,089.


LIABILITIES


FINANCING EXPANSION

The intermediate-term program has been developed primarily to
provide a type of credit for our growers so their capital needs can
best be financed with longer maturity loans.

Repayments are scheduled to fit the grove.income up to five years
to pay for improvements and capital investments, purchase addi-
tional groves, land clearing, young trees, irrigation, buildings, new
homes or remodeling, trucks, tractors, spray machinery, fertil-
izer distributors, harrows, and other capital purpose items.


Money Borrowed from F. I.C.B. . . .
Accrued Interest Payable F.I. C.B..
Provision for Federal Income Tax ..
Accounts Payable . . . . . . .


. $2,358,331.
24,370.
11,214.
1,453.


TOTAL LIABILITIES . . . $2,395,368.


$2,504,519.
35,938.
6, 354.
1,488.

$2,548,299.


$3,527,959.
61,558.
7,450.
7,553.

$3,604,520.


NET WORTH


Class "A" stock held by Members. . .
Class "B" stock held by Members. ....
Surplus Account. . . . . ..... .
Unapplied Earnings. . . . . . .

TOTAL NET WORTH . . .

TOTAL LIABILITIES & NET WORTH


$ 122,935.
198,840.
337, 101.
*20,729.

$ 679,605.

$3,074,973.


$ 125,265.
235,420.
360,332.
*14, 399.


$ 735,416.


$ 141,000.
295, 160.
372,221.
*21, 188.

$ 829,569.


$3,283,715. $4,434,089.


DIRECTORS AND MEMBERS

Invite progressive citrus growers to acquaint themselves with the
cooperative lending program of the association that is being en-
joyed by our members.

The lending program of the association has been developed as a
growers need occurred, to meet the ever-changing production and
management requirements. If it is citrus in Florida, and is an ec-
onomical unit, we can handle the financing.


Serving Growers of the


*After Estimated Income Taxes.


This mid-year report is late-- it was delayed because so many changes
have been coming that I wanted to tell you about them all.
With a complete financing program; with up to 5 years for repayment,
and with complete offices in Eustis, and Winter Haven, we invite you
and your friends to check on the most complete cooperative financing ser-
vice for the commercial citrus grower.


A.World's Largest Citrus Area Whitmore
World's Largest Citrus Area Secretary-Treasur


Florida Citrus Production Credit Association










FLORIDA CITRUS PRODUCTION CREDIT ASSOCIATION
Phone GArden 2-3157 P. 0. Drawer 2111
427 South Orange Avenue
Orlando, Florida



OFFICERS


Douglas R. Igou.........................
L. T. Bice ................... ....... Vice
A. H. Whitmore ..............Secretary-
H. W. Jordan............ Asst.Secretary-


President
President
Treasurer
Treasurer


BOARD OF DIRECTORS


J. Earl Anderson................ Lakeland,
L. T. Bice................... Haines City,
Ralph Boswell .................... Orlando,
B. A. Carpenter .............. Orlando,
Douglas R. Igou................... Eustis ,
Ford W. Moody.............. Palm Harbor,
J. J. Parrish, Jr............... Titusville,


Florida
Florida
Florida
Florida
Florida
Florida
Florida