Testimony of Clint Hood on "Financing Farm Operations: The Importance of Credit and Risk Management"

Chairman Scott, Ranking Member Davids, and members of the Subcommittee, my name is Clint Hood. I am a Senior Vice President for Synovus Bank in Dublin, Georgia and I currently lead our multi-state Agriculture and Timber Division. I have over 37 years of experience in financial services, and I have been in many different positions with banks of all sizes. Prior to my career in banking, I farmed with my father on our family farm in east central Georgia, and I continue to live on a farm in central Georgia. At Synovus Bank, the Agriculture and Timber Division provides lending to a wide variety of commodities from row crops, including cotton and peanuts, to fruits, vegetables and nuts, to livestock including cattle and poultry. Additionally, our portfolio includes timber and sod operations. I am proud of the team of bankers in our Agriculture and Timber Division and our scope of lending in our rural communities.

Agricultural bankers have a deep appreciation for the important role producers play in our economy and the unique challenges they face. I appreciate the opportunity to present the views of the ABA for the hearing titled "Financing Farm Operations: The Importance of Credit and Risk Management".

The American Bankers Association (ABA) is the voice of the nation's $24.5 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $19.5 trillion in deposits and extend $12.8 trillion in loans. ABA is uniquely qualified to comment on agricultural credit issues as banks have provided credit to the agriculture industry since the founding of our country. At year-end 2024, 3,725 banks –82 percent of all banks nationwide– reported agricultural loans on their books with a total outstanding portfolio of more than $205 billion.

Over the past year, ABA has strongly supported the passage of a long-term Farm Bill. Bankers were in constant conversation with both the House Committee on Agriculture and the Senate Committee on Agriculture during the development of a 2024 Farm Bill. In addition to the 2024 Farm Bill, bankers worked with Members of Congress to provide market data highlighting he need for economic assistance for our farmers and ranchers. Bankers continue to monitor the agricultural economy, and we are very cognizant of how economic headwinds affect our customers. Congress has several tools to help the farm economy – starting with the passage of a strong and durable Farm Bill. Additionally, outside this committee's jurisdiction, would like to thank Congress for including a partial version of the Access to Credit for our Rural Economy (ACRE) Act of 2025 in H.R. 1, the One Big Beautiful Bill Act. ACRE is a solution that will provide another form of economic relief for farmers and ranchers by lowering the cost of credit and making credit more widely available for these customers.

To ABA, fostering the next generation of producers goes further than a program – it's part of what drives our bankers in our rural communities every day.

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