2018 ANNUAL MEETINGS Visit: AgPitch.com Ben Lee Bennett Wilson - - PowerPoint PPT Presentation

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2018 ANNUAL MEETINGS Visit: AgPitch.com Ben Lee Bennett Wilson - - PowerPoint PPT Presentation

Sep 02, 2023 205 likes •911 views

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

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2018

ANNUAL MEETINGS

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Visit: AgPitch.com

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  • Ben Lee
  • Bennett Wilson
  • Kelton Clark
  • Mihir Pershad
  • Rick Hood
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Visit: AgPitch.com

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2018

FINANCIAL UPDATE

CHIEF FINANCIAL OFFICER, JOHN WHEELER

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2,000 4,000 6,000 8,000 10,000 12,000 2013 2014 2015 2016 2017 9,791 9,830 9,960 10,184 10,400

2017 Number of Active Members

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2017 Loan Volume Outstanding (In billions)

$0.00 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 2013 2014 2015 2016 2017 $2.20 $2.28 $2.46 $2.61 $2.72

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Diversification of portfolio allows for better risk management.

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Cash Grain/Crops, 24% Poultry, 22% Landlords/ Lessors, 8% Dairy, 10% Equine, 7% Fruits/ Vegetables, 7% Livestock/Animal Specialties, 6% Nurseries/ Greenhouses, 3% Timber/ Forestry, 3% Other, 10%

2017 Portfolio Concentrations

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2017 Credit Quality

0.00% 20.00% 40.00% 60.00% 80.00% 100.00% 2013 2014 2015 2016 2017 97.1% 96.9% 97.8% 98.2% 98.1%

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2017 Net Income (in millions)

$0.0 $10.0 $20.0 $30.0 $40.0 $50.0 $60.0 $70.0 $80.0 2013 2014 2015 2016 2017 $68.0 $67.0 $53.1 $57.3 $76.6

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$322 million

5-Year Net Income

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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

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$510 million

in distributed cash

$441 million

in Patronage

Since 1990

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$56.4 million

2011-2014

Outstanding Qualified Surplus

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Coming Together – Beginning Keeping Together – Progress Working Together – Success

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INDUSTRY Q&A

PRESIDENT & CEO, TOM TRUITT

STATE OF THE

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Compared to

  • 20

2017, d do you t think t that 2 t 2018 will be a e a better y yea ear or

  • r a

a wor

  • rse y

yea ear f for

  • r y

you

  • ur op
  • peratio

ion?

  • 1. Better
  • 2. Worse
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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
  • 2. Lower income/Lower

commodity prices

  • 3. Higher interest rates
  • 4. Changes to the Farm Bill
  • 5. Succession planning
  • 6. Changing regulations
  • 7. Finding labor
  • 8. International trade/tariffs
  • 9. Weather
  • 10. Other
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Please e choos

  • ose y

e you

  • ur top t

three ee prior

  • rities

es for

  • r the

upcoming F Farm Bill: : (Select largest concern first)

  • 1. Rural Development
  • 2. Nutrition
  • 3. Commodity Programs
  • 4. Conservation
  • 5. Crop Insurance
  • 6. Energy
  • 7. Research and Extension
  • 8. Trade/Market Development
  • 9. Credit
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How i important t to

  • your f

farm op

  • peratio

ion i is dep ependable le a acces ccess t to

  • 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
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Please e choos

  • ose y

e you

  • ur age grou
  • up:
  • 1. 20-29
  • 2. 30-39
  • 3. 40-49
  • 4. 50-59
  • 5. 60-69
  • 6. 70-79
  • 7. 79+
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2018

NOMINATING COMMITTEE REPORT

CORPORATE SECRETARY, CATHY BLAIR

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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
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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."

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ELECTION REGIONS

  • Entitled to vote in all election

regions, but not required to do so

  • Ballot is still valid if portions are

left blank

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CA CANDIDATE TES S FO FOR DI DIRE RECTOR

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CENTR TRAL M AL MARYL YLAND ELE ELECTI TION R REGION

One position open

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Douglas E. Lechlider Gaithersburg, MD Montgomery County

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Michael S. Nelson Taneytown, MD Carroll County

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John A. Rigdon Jarrettsville, MD Harford County

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James K. Weddle Hagerstown, MD Washington County

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CHES ESAPEA EAKE ELE ELECTI TION R REGION

One position open

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Douglas D. Scott Hurlock, MD Dorchester County

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Victoria L. Sump Cordova, MD Talbot County

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DELA ELAWARE ELE ELECTI TION R REGION

One position open

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Clayton J. Vincent Delmar, DE Sussex County

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Fred N. West Frankford, DE Sussex County

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KEYST YSTONE ELE ELECTI TION R REGION

One position open

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William L. Beam Elverson, PA Chester County

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Brian L. Boyd Lebanon, PA Lebanon County

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Nelson W. Wicas Newtown Square, PA Delaware County

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MARVA VA ELE ELECTI TION R REGION

No positions open in 2018

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VAL ALLEY LEY ELE ELECTI TION R REGION

No positions open in 2018

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CAN ANDIDATE TES F S FOR 2019 2019 N NOMINATI TING COMMI MMITTEE

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CENTR TRAL M AL MARYL YLAND ELE ELECTI TION R REGION

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Position 1

Kathleen W. Carr Sharpsburg, MD Washington County John B. Sewell Tuscarora, MD Frederick County

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Position 2

William R. Rasche Jr. Taneytown, MD Carroll County Lee D. McDaniel Darlington, MD Harford County

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CHES ESAPEA EAKE ELE ELECTI TION R REGION

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Position 1

Luke R. Howard Millington, MD Queen Anne’s/ Kent County

  • J. Brian Quinn

Kennedyville, MD Kent County

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Position 2

Michael D. Brown Denton, MD Caroline County David A. Schmidt Hurlock, MD Dorchester County

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DELA ELAWARE ELE ELECTI TION R REGION

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Position 1

Kevin A. Evans Bridgeville, DE Sussex County Fred N. West III Frankford, DE Sussex County

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Position 2

Adam R. Dickerson Laurel, DE Sussex County Ronald “Scot” Wharton Millsboro, DE Sussex County

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KEYST YSTONE ELE ELECTI TION R REGION

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Position 1

Andrew M. Ill Manheim, PA Lancaster County Glen S. Zimmerman Myerstown, PA Lebanon County

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Position 2

Robert McCardell West Chester, PA Chester County Earl Ray Zimmerman Ephrata, PA Lancaster County

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MARVA VA ELE ELECTI TION R REGION

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Position 1

Travis L. Goslee Seaford, DE Sussex County Dustin A. Calloway Hebron, MD Wicomico County

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Position 2

Kevin L. Miller Westover, MD Somerset County Lee W. Richardson Willards, MD Wicomico County

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VAL ALLEY LEY ELE ELECTI TION R REGION

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Position 1

Tupper H. Dorsey Berryville, VA Clarke County Michael W. Orr Martinsburg, WV Berkeley County

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Position 2

Cordell L. Watt Gore, VA Frederick County Dudley H. Rinker Stevens City, VA Frederick County

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FLO LOOR NOM NOMINA NATIONS

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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
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Cathy Blair

cblair@mafc.com 888.339.3334

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  • Cullen Dixon
  • Ellie Grossnickle
  • Hannah Jo
  • Henry Brunnett
  • Justin Petrie
  • Kelcey Trewin
  • Sarah Rassler
  • Seth Bollinger
  • Timothy Mulderring
  • Tyson Franklin