Without support, it will not be able to continue to operate after May 2023., RELATED: Birmingham-Southerns future at stake as lawmakers gather to discuss $37.5 million bailout request. Southern State Financial. data. And in 1960, Southern States and ten other regional co-ops formed a national seed-breeding research organization, FFR. Unfortunately, as the Confederacy . Internet Banking with Bill Pay. Free and open company data on Texas (US) company SOUTHERN STATES FINANCIAL, INC. (company number 0158695300), PO BOX 969, VAN ALSTYNE, TX, 754950969. We want to be able to show you accurate inventory and pricing information so you can find the products you are looking for at a location nearby. In 1997, the co-ops new CEO initiated an aggressive growth strategy and acquired a livestock exchange, a large agricultural inputs business, and a northeastern dealer network. In 1923, about 150 farmers met in Richmond, Virginia, to take steps to remedy the situation. The FDIC is proud to be a pre-eminent source of U.S. ATM Fees refunded. This rating has been stable over the past 12 months. system. Estimates indicate all the five southern states would lose two per cent of the overall share in the central fund allocation. We also determined, despite considerable pressure to file in Chapter 11, that bankruptcy would destroy the companys chances by squandering the PBC base and vendor capital support. On 12/21/2020 Winfield Solutions, LLC filed a Contract - Other Contract court case against Southern States Cooperative, Inc in U.S. District Courts. (804) 281-1000. Subsequent presidents did a remarkable job of funding the year-to-year operations of the College despite significant challenges. Farmer owned since 1923. held at the Westwood Club, 6200 W. Club Lane, Richmond, VA, on SOUTHERN STATES FINANCIAL, INC. was registered on Feb 21 1985 as a domestic profit corporation type with the address 225 Timberline Rd., Statesboro, GA, 30461, USA. According to anonymously submitted Glassdoor reviews, Southern States employees rate their compensation and benefits as 2.7 out of 5. What started as a resource to bring quality seeds to Virginia, evolved to a full-service ag-retail cooperative, serving members in eight southeastern states. 5 Common Financial Problems for College Students & How You Could Avoid Them . We performed a rapid but thorough assessment, reaching the conclusion that the co-op had viability in four core businesses, and that liquidation would fail to pay off secured debt. (843) 758 4138. According to reviews on Glassdoor, employees commonly mention the pros of working at Southern States to be workplace, coworkers, benefits and the cons to be senior leadership, career development, management. There are 3 director records in this entity. Jessica was a great help and very friendly. This means serving 85 Southern States-owned retail locations, plus member businesses, may potentially increase sales for GROWMARK by approximately $800 million. This company is full of good people who care about the end customers. Determine whether Southern States Cooperative Inc. & Includible Subsidiaries grew or shrank during the last recession. In May 2000, Michelle M. Butler began working at the Middleburg, Virginia retail store of Southern States Cooperative, Inc. (Southern States), a business cooperative that specializes in selling agricultural supplies. These moves were made because returns on these assets were chronically inadequate. However, like many good economic stories . Southern States is the place for those who do. | Also Read:Union Budget: Reading between the lines, the joke is on you. Southern states contribute more in taxes but get backless. Hamstreet services: Business Assessment, Financial Restructuring, Interim Management, . If you are looking for a partner and friend in your financial institution then you will find it in Southern States. banking industry research, including quarterly banking Financial reasons led Southern States corporate to recommend closure of the store. By that point, most industry and many internal observers believed the company would not survive. Southern States Cooperative's corporate headquarters building at 6606 W. Broad St. in Henrico County sold for $14.745 million in 2018 but the cooperative remained as a major tenant there. [T]his infusion will cover projected deficits through May 31, 2026, the letter states. California is a place unlike any other on the Globe. Also Read: SCs and STs get half of what is due to them in budget 2020. Over time the co-op added grain storage, insurance, financial, and other services to its repertoire. Headquarters. Combined, Ohio and Illinois have more than 10 percent of all the institutions potentially facing trouble. Justin M. I went in to set up an account, 15 minutes later I was out the door. Farm supply retailer Southern States Cooperative has promoted Steve Becraft to chief operating officer and hired Sean Knapp as their new executive vice president of agronomy. protection; makes large and complex financial institutions resolvable; and Learn how to leverage transparent company data at scale. The .gov means its official. The co-op defaulted on loan covenants and lost what little faith its secured lenders had left, while vendors began to insist on COD terms. Paper Statement fee $5.00**. For almost a century, we have consistently provided expert products, services and advice to people who aren't afraid of getting their hands dirty. Following a two-week trial, a jury in Henry County awarded the widow of a worker who died in a propane explosion $6 million in damages. The co-op reported 2016 revenue of $1.514 billion, 2015 revenue of $1.497 billion and 2014 revenue of $1.495 billion. The FDIC provides a wealth of resources for consumers, Southern States Cooperative supplies small, medium, and large commercial farmers with livestock and animal feed, pasture seed, vegetable seed, farm fertilizers, farm supplies, bulk fuel, and crop services, including information and products to grow better crops. Iowa. 31% of employees would recommend working at Southern States to a friend and 21% have a positive outlook for the business. We focused on maintaining the co-ops operations by establishing active, open communications with all lenders, including the member-farmers with their essential working capital contributions. We want to be able to show you accurate inventory and pricing information so you can find the products you are looking for at a location nearby. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. 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Descending order. We think this might be your store based on your location: Sign up for special offers and promotions from Southern States. In the early 1920's Farmers in Virginia were unable to buy seed guaranteed to grow in the Commonwealth. Ohio has 36 institutions with two or more warning signs. Manufacturers and Traders Trust Company (M&T Bank), Washington Federal Savings and Loan Association, First Federal Savings and Loan Association. Our Heritage. stability and public confidence in the nations financial Allstate. All companies are members of Western & Southern Financial Group and are located in Cincinnati, OH with the exception of National Integrity, which is located in Greenwich, NY, and Gerber Life, which is . We think this might be your store based on your location: Sign up for special offers and promotions from Southern States. Originating in the early 1920s as a feed supplier, it gradually branched out to furnish farmers in mid-Atlantic and southern states with a wide range of goods and services, including fertilizer, crop protectants, seed, feed, farm supplies, and petroleum. Docket (#22) Financial Interest Disclosure Statement (Local Rule 7.1) by GROWMARK, Inc.. (Redmond, Robert . Southern States has experienced financial struggles in recent years. In October 1998, Southern States continued its growth by acquiring the wholesale and retail farm supply system of Gold Kist, Inc. SOUTHERN STATES COOPERATIVE, INCORPORATED, will be cooperative A Farmer Owned Cooperative Since 1923. and willing to work with me no matter my schedule, Customer Service Representative/Front End Cashier, Southern States has an overall rating of 3.1 out of 5, based on over 125 reviews left anonymously by employees. Southern States has an overall rating of 3.1 out of 5, based on over 125 reviews left anonymously by employees. Truth in Accounting also implemented a grading system to give greater context to each state's Taxpayer Burden or Taxpayer Surplus. The Richmond, VA-based cooperative serves a wide range of farm inputs including: fertilizer, seed, livestock feed, pet food, animal health supplies, and petroleum products, as . Check out our press releases and stay updated on the latest Southern States agriculture news. The company is partnering with feed company Nutrena and its Feed It Forward program to collect financial donations in stores that the company will use to purchase and ship animal feed to the areas affected by Florence. Hamstreets efforts saved some 4,000 jobs, along with a company of great significance to many rural communities in the Southeastern US. Corporate Information. Some states are in much better financial shape than others. This rating has decreased by -4% over the last 12 months. Sold 90% of non-core assets and some high-value core real-estate assets to pay down debt. Southern States prided in the fact that their cashiers actually aren't just cashiers but have immense knowledge of product use and farming. Today, Southern States is an agricultural cooperative focused on providing profitable growing solutions and reliable energy expertise to its members and customers based on the specific needs of the local community.