Why an ag background is vitally important for an ag banker

Growing up near Herman, Minn., Jared Oachs lived a half mile from his grandparents and his family’s farm homestead. For fifth-generation family farmer Jared, farm involvement was a way of life – and even from a young age, he was helping pick rock, wash and wax equipment, and shovel grain bins.

While he no longer lives near the family corn and soybean operation, agriculture is still a major part of Jared’s life.

“I am fortunate to have the opportunity to remain involved in the farm, mainly in the spring and fall,” Jared notes. “It’s the legacy piece of it – there’s an emotional attachment as a farm kid, and I value being able to spend the time as a family. There’s a lot of pride that goes into it.”

When choosing his career, Jared knew that something in agriculture was the correct path. He earned a bachelor’s degree in agricultural economics and a Master of Business Administration from North Dakota State University in Fargo, before starting his full-time ag banking career in 2017, in Wahpeton, N.D. (He had also worked in ag credit part-time while still in college.)

“I’ve always been interested in the financial side of agriculture,” Jared explains. “Each client’s financial position is different – just like each field is different – and ag finance can tell a different story year to year. Learning the story of each farm and business brings special meaning to my position.”

Jared started working for Bell Bank in September of 2022. What intrigued him about working at Bell was the opportunity to add a commercial component to the ag lending he’d already been doing. He was also drawn by Bell’s reputation and marketplace presence.?

As a vice president and ag commercial banker in Bell’s Moorhead, Minn., office, Jared helps farmers and business owners assess their financial position, set goals and work toward reaching those goals.

“I have found my background in ag to be vitally important to my career – especially in terms of understanding the nuances,” Jared remarks.

“Planting a seed in the ground, harvesting the crop, and selling a commodity may seem simple to those outside of agriculture, but there are complexities in the different operating structures, crop types, financial structure, and cash flow. On top of all that, add the risk that Mother Nature brings, and you have ag lending.”

Because of his background, Jared understands why to many, a farm is so much more than a business, and for many in ag, their farmland will never be for sale, no matter what the land is worth. It is common for farm operations to be multi-generational, and the farm is part of the family identity. As an ag lender, the interwoven business and way of life pose challenges, but more often great rewards.

Jared has learned numerous things throughout his years working in ag lending, and if he could pass along one tip it would be, “Maintain quality records, financial and agronomic. Doing so enables you to know your numbers, build your financial statement and plan your future. As a lender, being provided quality, timely information helps me better serve you, and work with you to meet your goals.”

Jared and his wife, Lizzy, live in West Fargo, N.D., and have one son.