Gayle Kaalberg

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Experience

Farmer and President and Chief Executive Officer - Farmers and Merchants Savings Bank

Iowa Bankers Association

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Gayle Kaalberg, a farmer, and president and CEO of Farmers and Merchants Savings Bank, Lone Tree, Iowa, operates in a region where processors and river terminals are having a tug-of-war over crops.Growers will show good profits for the second year in a row in 2007, he told DTN.That's in spite of some areas where four-foot-tall corn was submerged in water, yet later yielded 150-160 bushels.But the outlook for 2008 isn't nearly as cheerful. "We're right on the bubble of higher costs," Kaalberg said.Higher diesel prices mean he paid $11,500 more to fill up a 7,000-gallon tank than he did five years ago.Even when operators buy by the semi load to qualify for bulk discounts, pricing errors can turn into big-ticket expenses."If we have a big drop in prices today, a lot of operators would have trouble breaking even," he said.

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Iowa Bankers Association

Gayle Kaalberg Testimony at FCA HearingIowa Bankers AssociationGayle Kaalberg Testimony at FCA Hearing STATEMENT OF GAYLE KAALBERGPRESIDENT & CHIEF EXECUTIVE OFFICERFARMERS & MERCHANTS SAVINGS BANK

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Conference planning committee members are: Roger Monson, president and CEO, Citizen's State Bank of Finley, Finley, ND; Larry E. Dewitt, assistant vice president, Farmers Exchange Bank, Cherokee, OK; Michael Firestine, senior vice president, Lebanon Valley Farmers Bank, Lebanon, PA; Jimmy D. Hicks, executive vice president, First National Bank of Clinton, Clinton, KY; Gayle F. Kaalberg, president and CEO, Farmers & Merchants Savings Bank, Lone Tree, IA; and, Lynn Henderson, president, Doane Agricultural Services Company, St. Louis, MO.

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