Key Takeaways
- Capital Farm Credit has acquired Bennett Crop Insurance and Taylor Crop Insurance, expanding its insurance services in the Texas Plains Region.
- The acquisitions add nine employees and two new locations near Lubbock, Texas.
- The move aims to strengthen Capital Farm Credit’s role as a long-term provider of crop insurance amid challenging market conditions.
- Both acquired agencies will retain their existing staff and customer-facing operations, maintaining continuity for clients.
- The company continues to grow its non-interest income and reinforce its relationship-based service model through these additions.
Capital Farm Credit Adds Two Crop Insurance Agencies to Expand Texas Plains Coverage
Strategic Acquisitions Enhance Access to Risk Management Services
Capital Farm Credit has announced the acquisition of Bennett Crop Insurance and Taylor Crop Insurance, two independent agencies based in the Texas Panhandle near Lubbock. The acquisitions are part of the company’s strategy to provide reliable, regionally focused crop insurance offerings in areas facing increasing coverage challenges.
“This environment offers us an opportunity to increase our footprint in this important agricultural region,” said Jeff Norte, CEO and President of Capital Farm Credit. “We are committed to being a long-term provider where other insurers are pulling back.”
Agencies with Deep Local Roots Join Capital Farm Credit
Bennett and Taylor Insurance Maintain Staff and Customer Continuity
Bennett Crop Insurance, based in Brownfield, Texas, has been operating since 2004, serving multiple counties in the Panhandle. Taylor Crop Insurance, with over 40 years of experience, is headquartered in Ropesville and primarily serves cotton growers in Lubbock and Hockley counties.
Both agencies will retain their current teams and locations, ensuring uninterrupted service for clients. The transition adds nine employees and two offices to the the company’s Insurance Services Group.
“Even though these teams are joining Capital Farm Credit, customers will continue to work with the same agents they trust,” Norte emphasized.
Crop Insurance Remains a Core Growth Area for Capital Farm Credit
Supporting Risk Management for Agricultural Operations
The company has provided crop and livestock insurance for over a decade. In recent years, the association has focused on increasing non-interest income and expanding services for ag production loan customers. These acquisitions are in line with that objective, allowing the organization to respond to insurance market volatility and continue delivering critical risk management services to producers.
“Acquiring these two agencies will help combine forces to expand the reach and influence needed to continue serving customers in the Plains Region,” added Norte.
