2018 ANNUAL MEETINGS
Visit: AgPitch.com
• Ben Lee • Bennett Wilson • Kelton Clark • Mihir Pershad • Rick Hood
Visit: AgPitch.com
2018 FINANCIAL UPDATE CHIEF FINANCIAL OFFICER, JOHN WHEELER
2017 Number of Active Members 12,000 10,400 10,184 9,960 9,791 9,830 10,000 8,000 6,000 4,000 2,000 0 2013 2014 2015 2016 2017
2017 Loan Volume Outstanding (In billions) $2.72 $3.00 $2.61 $2.46 $2.28 $2.20 $2.50 $2.00 $1.50 $1.00 $0.50 $0.00 2013 2014 2015 2016 2017
Diversification of portfolio allows for better risk management.
2017 Portfolio Concentrations Timber/ Forestry, Other, 10% Nurseries/ Cash Grain/Crops, 3% Greenhouses, 3% 24% Livestock/Animal Specialties, 6% Fruits/ Vegetables, 7% Equine, 7% Poultry, 22% Dairy, 10% Landlords/ Lessors, 8%
2017 Credit Quality 98.1% 97.8% 98.2% 96.9% 97.1% 100.00% 80.00% 60.00% 40.00% 20.00% 0.00% 2013 2014 2015 2016 2017
2017 Net Income (in millions) $76.6 $80.0 $68.0 $67.0 $70.0 $57.3 $53.1 $60.0 $50.0 $40.0 $30.0 $20.0 $10.0 $0.0 2013 2014 2015 2016 2017
$322 million 5-Year Net Income
Total Patronage Paid 2017 Declared Cash (Mar 2018) $ 18.5 million 2010 Nonqualified $ 10.0 million Allocated Surplus (Dec 2017) 2010 Remaining & Portion of 2011 $ 9.3 million Nonqualified Allocated Surplus (Feb 2018) TOTAL $37.8 million
Since 1990 $510 million in Patronage $441 million in distributed cash
Outstanding Qualified Surplus $56.4 million 2011-2014
Coming Together – Beginning Keeping Together – Progress Working Together – Success
STATE OF THE INDUSTRY Q&A PRESIDENT & CEO, TOM TRUITT
Compared to o 20 2017, d do you t think t that 2 t 2018 will be a e a better y yea ear or or a a wor orse y yea ear f for or y you our op operatio ion? 1. Better 2. Worse
What a are your t r top three concern rns i in the next 12 m 12 months? ? (Select largest concern first) 1. Higher input costs 6. Changing regulations 2. Lower income/Lower 7. Finding labor commodity prices 8. International trade/tariffs 3. Higher interest rates 9. Weather 4. Changes to the Farm Bill 10. Other 5. Succession planning
Please e choos oose y e you our top t three ee prior orities es for or the upcoming F Farm Bill: : (Select largest concern first) 1. Rural Development 7. Research and Extension 2. Nutrition 8. Trade/Market Development 3. Commodity Programs 9. Credit 4. Conservation 5. Crop Insurance 6. Energy
How i important t to o your f farm op operatio ion i is dep ependable le a acces ccess t to o an efficie ficient a and effect ctiv ive agricu cultu tural g gues est w worker er p program? 1. Very Important 2. Somewhat Important 3. Not Important
Please e choos oose y e you our age grou oup: 1. 20-29 2. 30-39 3. 40-49 4. 50-59 5. 60-69 6. 70-79 7. 79+
2018 NOMINATING COMMITTEE REPORT CORPORATE SECRETARY, CATHY BLAIR
VOTIN ING TIMELIN INE • April 25 • Ballot packets mailed to eligible voting stockholders • May 16 • Polls close at end of day • May 17 • Ballots validated and tabulated by independent accounting firm • May 18 • Results certified
VOTING NG STOC OCKHOL KHOLDERS • Each entitled to one ballot • Defined as: "One person designated on the most recently executed membership application as having the power of attorney for their Farm Credit relationship."
ELECTION REGIONS • Entitled to vote in all election regions, but not required to do so • Ballot is still valid if portions are left blank
CA CANDIDATE TES S FO FOR DI DIRE RECTOR
CENTR TRAL M AL MARYL YLAND ELE ELECTI TION R REGION One position open
Douglas E. Lechlider Gaithersburg, MD Montgomery County
Michael S. Nelson Taneytown, MD Carroll County
John A. Rigdon Jarrettsville, MD Harford County
James K. Weddle Hagerstown, MD Washington County
CHES ESAPEA EAKE ELE ELECTI TION R REGION One position open
Douglas D. Scott Hurlock, MD Dorchester County
Victoria L. Sump Cordova, MD Talbot County
DELA ELAWARE ELE ELECTI TION R REGION One position open
Clayton J. Vincent Delmar, DE Sussex County
Fred N. West Frankford, DE Sussex County
KEYST YSTONE ELE ELECTI TION R REGION One position open
William L. Beam Elverson, PA Chester County
Brian L. Boyd Lebanon, PA Lebanon County
Nelson W. Wicas Newtown Square, PA Delaware County
MARVA VA ELE ELECTI TION R REGION No positions open in 2018
VAL ALLEY LEY ELE ELECTI TION R REGION No positions open in 2018
CAN ANDIDATE TES F S FOR 2019 2019 N NOMINATI TING COMMI MMITTEE
CENTR TRAL M AL MARYL YLAND ELE ELECTI TION R REGION
Position 1 John B. Sewell Tuscarora, MD Frederick County Kathleen W. Carr Sharpsburg, MD Washington County
Position 2 Lee D. McDaniel Darlington, MD Harford County William R. Rasche Jr. Taneytown, MD Carroll County
CHES ESAPEA EAKE ELE ELECTI TION R REGION
Position 1 J. Brian Quinn Kennedyville, MD Kent County Luke R. Howard Millington, MD Queen Anne’s/ Kent County
Position 2 David A. Schmidt Hurlock, MD Dorchester County Michael D. Brown Denton, MD Caroline County
DELA ELAWARE ELE ELECTI TION R REGION
Position 1 Fred N. West III Frankford, DE Sussex County Kevin A. Evans Bridgeville, DE Sussex County
Position 2 Ronald “Scot” Wharton Millsboro, DE Sussex County Adam R. Dickerson Laurel, DE Sussex County
KEYST YSTONE ELE ELECTI TION R REGION
Position 1 Glen S. Zimmerman Myerstown, PA Lebanon County Andrew M. Ill Manheim, PA Lancaster County
Position 2 Earl Ray Zimmerman Ephrata, PA Lancaster County Robert McCardell West Chester, PA Chester County
MARVA VA ELE ELECTI TION R REGION
Position 1 Dustin A. Calloway Hebron, MD Wicomico County Travis L. Goslee Seaford, DE Sussex County
Position 2 Lee W. Richardson Willards, MD Wicomico County Kevin L. Miller Westover, MD Somerset County
VAL ALLEY LEY ELE ELECTI TION R REGION
Position 1 Michael W. Orr Martinsburg, WV Berkeley County Tupper H. Dorsey Berryville, VA Clarke County
Position 2 Dudley H. Rinker Stevens City, VA Frederick County Cordell L. Watt Gore, VA Frederick County
FLO LOOR NOM NOMINA NATIONS
VO VOTING PRO ROCESS • Ballots mailed on April 25 • Ballot package will include everything needed to vote • Must be received on or before May 16 • Results certified on May 18
Cathy Blair cblair@mafc.com 888.339.3334
• Cullen Dixon • Kelcey Trewin • Ellie Grossnickle • Sarah Rassler • Hannah Jo • Seth Bollinger • Henry Brunnett • Timothy Mulderring • Justin Petrie • Tyson Franklin
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