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Patchwork Nation: A Different View on Banking in ‘Tractor Country’

BY Anna Shoup and Dante Chinni  December 9, 2009 at 12:00 AM EST

Farm equipment, the machinery that makes modern agriculture go, is not cheap. A single tractor can cost up $250 thousand and during harvest time, farmers often want more than just one to keep operations running. But farmers like those in Sioux Center, Iowa have managed to keep debt down.

“We don’t have a vicious cycle coming at us,” said Eric Walhof, president of the Sioux Center First National Banks. “We’ve made very good money in the past few years and now it’s time to spend some of our rainy day money.”

Patchwork Nation took a look at the different perspective towards debt in this small agricultural town, a Tractor Country community.

With video contributions from Malcolm Brown.