Capital Farm Credit Expands in Texas Plains with Crop Insurance Agency Acquisitions

Capital Farm Credit (CFC) has expanded its presence in the Texas Plains Region through the acquisition of Bennett Crop Insurance and Taylor Crop Insurance, two established independent agencies. Bennett Crop Insurance operates out of Brownfield, Texas, serving multiple counties in the Texas Panhandle since 2004, while Taylor Crop Insurance, with over four decades of experience, primarily serves cotton producers in Lubbock and Hockley counties. This strategic move adds nine employees and two locations to CFC's insurance services group, enhancing its regional service capabilities.

This acquisition occurs amidst challenging market conditions characterized by consecutive years of losses in the Plains insurance sector, leading to reduced coverage availability from other providers. CFC aims to leverage this opportunity to strengthen its footprint and collaborate with Approved Insurance Providers to extend coverage options across Texas. The company has been active in the crop and livestock insurance market for more than ten years and is concurrently advancing its agricultural lending practices.

Clients of the acquired agencies will retain their existing agents and locations, ensuring continuity in service. This approach helps maintain customer relationships while integrating operations under CFC's broader organizational structure. The acquisition aligns with CFC's strategy to grow its crop insurance sales and expand its agricultural loan portfolio, reinforcing its position in the regional agricultural finance and insurance markets.

Overall, this transaction reflects broader trends in agricultural insurance during periods of market stress, highlighting consolidation as a response to underwriting challenges and coverage scarcity. It also underscores CFC's commitment to bolstering its product offerings and market reach in key Texas agricultural regions where insurance demand remains critical for farm operators.