Advancing Agriculture Around the World – CNB and Advanced Biological Marketing (ABM)
As a community bank, Citizens National Bank focuses on local businesses. What may be surprising is just how far those local businesses reach. Advanced Biological Marketing (ABM), a nationally recognized leader in agricultural research and seed treatment development, is located in Van Wert, Ohio. CEO, Dan Custis and partner Leon Bird, created the company in July 2000 after having worked previously at ag chemical companies and deciding they could do things differently. Their proprietary and patented processes led to notable increases in yields of such crops as soybeans and corn and sales to seed companies and co-ops began to take off. Six years ago one of their salespeople took a trip to Thailand and introduced their product to rice growers there. It resulted in a 5x increase in yield and cemented their commitment to international agriculture.
According to Custis “We were outgrowing our bank but wanted to still work with someone local. Citizens National Bank’s capabilities and international options were a good fit for us.” Their banker, Jordan Miller, introduced them to Online for Business which allows them to manage their multiple companies’ finances all in one place and also gives them the capability of sending and receiving foreign wire transfers right from their office. According to Custis, their business used to be fairly seasonal, but as they’ve gone international, growing seasons in other countries are year-round, increasing their cash flow. “We’ve now expanded into many new areas of the US, as well as 15 foreign countries. We’re expecting 30% growth in our company this year, but we’re confident CNB can handle what we need,” states Custis.
As part of that growth, CNB not only provides online banking, but also financed a new production facility for ABM and provides a line of credit should they need to move swiftly on a purchase. “We focus on unique innovation and we’re technology driven,” explains Custis. “We have the right banking relationship going as we plan for more growth.”
To learn more about ABM and their impact on the world’s agricultural production, visit http://www.abm1st.com.