CHEROKEE — AgState held its annual meeting in-person on Dec. 6.

AgState CEO, Troy Upah, and Board President, Chuck Specketer, along with Bob Dobson, CFO, presented the annual report. The company showed sales of $1.5 billion and a net savings of $21.5 million. $7.5 million of the 2022 profits were allocated to 4,500 members. The cash distributed to the membership at the annual meeting was $5.9 million including a revolvement of deferred patronage. During the meeting, Chuck Specketer shared “AgState had a good year and the two cooperatives as a combined organization are already recognizing considerable savings and synergies, providing opportunities for the AgState membership.”

Specketer thanked board members and the employee team for their hard work during the first year of the combined company.

AgState had a record year in grain handling, with more than 30 million of the company’s 140 million bushels consumed by the AgState’s feed business.

InSite CDM enrolled over 225,000 acres of data management services, making a difference in the bottom lines of farmers throughout the Midwest. In addition, AgState’s Energy department provided 19.6 million gallons of refined fuels and propane.