Business Briefs - May 1

May 01, 2011

AgChoice Farm Credit

CHAMBERSBURG, Pa. — Returning profits to its customers in the form of patronage is a unique benefit to AgChoice Farm Credit’s cooperative structure.

A total of $1.96 million in cash patronage has been distributed to its customer-owners in the Chambersburg branch territory based on 2010 profits.

Despite continuing stress in the general and agricultural economies, AgChoice achieved record net income in 2010 of $37 million before tax. Ag-Choice’s patronage model allows the organization to build capital and be profitable while providing a mechanism to return profits over time to its customer-owners.

Paying patronage to AgChoice customers has been an integral part of AgChoice’s way of doing business since it was created in 1999. AgChoice has paid patronage to customer-owners every year since then, distributing $119.7 million in cash.

AgChoice Farm Credit’s Cumberland Valley branch office is in Chambersburg and services more than $195 million in total loan volume for agricultural and rural customers in Cumberland, Franklin, Fulton and Perry counties in Pennsylvania.

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Susquehanna Bancshares


LITITZ, Pa. — Susquehanna Bancshares, parent company of Susquehanna Bank, raised $40,000 by matching employee donations to four relief organizations that are working on recovery efforts in Japan: Save the Children, American Red Cross, World Vision and the International Medical Corps.

Susquehanna selected the four charities for its Japan relief campaign based on their reputation for providing immediate and long-term disaster relief, current efforts in response to the Japan earthquake and Pacific tsunami, and responsible stewardship of donated dollars.

Susquehanna’s match program ran from March 15 to 31. The company also sponsored a “Casual for a Cause” day on April 1, on which employees could donate $5 to the relief efforts in exchange for the opportunity to wear jeans to work.

Aqua 103

The Cooking for Companions fundraiser on April 4 at Aqua 103, 12916 Conamar Drive, Hagerstown, raised $305.80 for the Humane Society of Washington County.

Aqua owners Butch Plank and Dave Lookabaugh donated 15 percent of the day’s proceeds to the animal shelter. On April 15, Plank and Lookabaugh, and House Manager Heather Hiser presented their donation to Paul Miller, executive director of the humane society.

nTelos Holdings Corp.

WAYNESBORO, Va. — nTelos Holdings Corp. (NASDAQ: NTLS), a Virginia-based integrated telecommunications provider serving customers in the mid-Atlantic region, selected Alcatel-Lucent to expand and upgrade its existing wireless broadband network in Hagerstown.

nTelos Wireless received funding for this project under the U.S. Department of Agriculture Rural Utility Service broadband stimulus program.

Alcatel-Lucent is providing a high-speed wireless broadband solution using EV-DO Revision A technology, a high-performance mobile backhaul network and a comprehensive set of professional services that will enable nTelos customers to take advantage of high-speed wireless broadband services and applications enabled by the expanding availability and penetration of smartphone devices.  

Alcatel-Lucent has been the exclusive provider of CDMA technology throughout nTelos’ markets in Virginia, West Virginia, Kentucky, Ohio and North Carolina since 2007.

Alcatel-Lucent will provide a comprehensive set of professional services, including engineering, installation, integration and project management.

CNB Financial Services

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