Learn How People are Using farmdoc: Agribusiness Profile
Bob Boesdorfer brings years of hands-on farming experience to his job as Senior Vice-President for Commercial and Agribusiness Banking at First Midwest Bank in Danville.
“I grew up on a little five-hundred-acre grain and hog farm near Pleasant Plains, Illinois,” said Boesdorfer. “After college I operated a 1300-acre grain and cattle feeding operation in partnership with my father-in-law. I did that for six or seven years, and then worked for the Illinois Farm Business Farm Management Association for 17 years. I came to the bank 10 years ago.”
First Midwest Bank is the largest agricultural bank in Illinois, with 100 branches in the northern half of this state, Iowa and Indiana, Boesdorfer noted. As senior vice-president, Boesdorfer oversees the activities of nine loan officers around the state.
“But on a daily basis, I'm basically an ag lender,” Boesdorfer said. “We use the term ag relationship manager, because we spend a lot of time with our customers. We very much believe in relationship banking.”
Boesdorfer said he uses farmdoc regularly when working with his customers.
“Of course, we do a lot of budgeting with our ag customers, and we like to see projected budget information that comes out of the U of I. I also pull out a lot of the historical grain price information and share that with my customers,” he noted, “just to help them realize when we are experiencing good grain prices historically.”
Boesdorfer said he finds a number of the analysis tools on the farmdoc website particularly helpful.
“I've certainly used the crop insurance calculator,” he said, “as well as some of the grain marketing and management tools, and the farm rent evaluator. Customers will ask for a standardized lease form and I will print that off the website for them, but I make sure they know the information on farmdoc is available to them 24 hours a day.”
Boesdorfer continued, “From time to time, I'm looking for a particular topic that I'm not familiar with, and I'll do a quick search of the different publications or presentations that have been written, and that's been very helpful.”
Boesdorfer said he uses farmdoc not only in his work at the bank, but also when managing his own business.
“I'm still very involved with my wife's family farm back in Menard County,” he said, “and I use farmdoc in making personal decisions as well.”
Boesdorfer received a bachelor's degree in Agricultural Economics from Illinois State University in 1975. On July 1, 2009, he will receive an MBA (Master of Business Administration) from the University of Illinois.
“Being a student and fully employed at the same time is quite a challenge,” he said with a laugh.
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