Show Bankers Banker's Association Study Shows Utah Banks as Major Maior Lender Utah banks were serving farMel'S farmers far tar fliers mers and ranchers ranchel'S with more credit and other financial services ser sera vices than any other institutional institution Institution- al group of lenders at the b beginning beginning be be- ginning of this year ear according t to Glen M. M Carlson manager Man of Moab office First Security Band who represents the Utah Bankers Association as Grand County Key Banker flanker During 1960 the states state's banks maintained their leadership In agricultural tr Credit lt services Based on the annual farm lending summary of the Agricultural Agricultural Agri Agri- cultural Committee of the American American American Am Am- Bankers Association Mr Carlson reported that in the b beginning beginning be be- ginning of ot the year Utah banks were helping tamers and ranchers ranch ranch- ers with 43 13 million In loans 5 per cent more mote than a year ious This total Included 36 millIon million million mil mil- lion in loans and ant 7 million In farm tarm mortgages At the same time 12 million In Jn farm loans were held by life lite Insurance companies 18 million by the Federal Land Banks 11 million by Production Credit Associations and 5 million In non real non estate loans plus 12 million in real estate loans by the Farmers Home I lion tion About 70 per cent of the production credit extended by lending Institutions to Utah farmers and ranchers came oame from banks Mr Carlson believes that farmers tanners ranchers and bankers bank hank ers working together In this way help make Utah agriculture more prosperous He lie rt reported ported that 93 per cent of the Insured commercial banks In the state are serving agricultures agriculture's credit needs |