2019 ANNUAL MEETINGS 2019 PRESIDENTS REPORT PRESIDENT & CEO, - PowerPoint PPT Presentation

2019 ANNUAL MEETINGS

2019 PRESIDENT’S REPORT PRESIDENT & CEO, TOM TRUITT

Cooperative Principles 1. Open and voluntary membership 2. Democratic member control 3. Member economic participation 4. Autonomy and independence 5. Education, training, and information 6. Cooperation among cooperatives 7. Concern for community

2019 FINANCIAL UPDATE CHIEF FINANCIAL OFFICER, BRIAN ROSATI

2018 Number of Voting Members 10,500 12,000 10,400 10,184 9,960 9,830 10,000 8,000 6,000 4,000 2,000 0 2014 2015 2016 2017 2018

2018 Loan Volume Outstanding (In billions) $2.80 $2.72 $3.00 $2.61 $2.46 $2.28 $2.50 $2.00 $1.50 $1.00 $0.50 $0.00 2014 2015 2016 2017 2018

Diversification of portfolio allows for better risk management. Concentrated Portfolio Diversified Portfolio

2018 Portfolio Concentrations Cash Grain/Crops, Timber/ Forestry, 3% Other, 10% Nurseries/ 23% Greenhouses, 3% Livestock/Animal Specialties, 7% Fruits/ Vegetables, 7% Equine, 7% Poultry, 22% Dairy, 9% Landlords/ Lessors, 9%

2018 Credit Quality 98.1% 97.8% 98.2% 96.9% 96.9% 100.00% 80.00% 60.00% 40.00% 20.00% 0.00% 2014 2015 2016 2017 2018

2018 Net Income (in millions) $76.6 $80.0 $67.9 $67.0 $70.0 $57.3 $53.1 $60.0 $50.0 $40.0 $30.0 $20.0 $10.0 $0.0 2014 2015 2016 2017 2018

$322 million 5-Year Net Income

Total Patronage Paid 2018 Declared Cash (Mar 2019) $ 20.0 million Portion of 2012 Nonqualified $ 10.6 million Allocated Surplus (Feb 2019) 2011 Nonqualified Allocated Surplus $ 10.1 million and portion of 2012 NQAS (Dec 2018) TOTAL $40.7 million

Since 1990 $517 million in Patronage $482 million in distributed cash

Outstanding Qualified Surplus $35.7 million 2012-2014

MidAtlantic Farm Credit is cust stomer-owned d and custome mer-focused. We work every day to: • Give our customers best-in-class solutions for their financial needs • Manage their association efficiently, safely, and soundly • Be dependable, in good times and bad, for this and future generations • Embrace a performance-oriented culture that is diverse, inclusive and reflective of our marketplace

2019 NOMINATING COMMITTEE REPORT CORPORATE SECRETARY, CATHY BLAIR

VOTIN ING G TIMELIN INE E • April 24 • Ballot packets mailed to eligible voting stockholders • May 14 • Polls close at end of day • May 15 • Ballots validated and tabulated by independent accounting firm • May 16 • Results certified

VOTING NG STOC OCKHOL KHOLDERS S • 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 N REGIONS S • 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 R DI DIRE RECTOR R

CENTR TRAL M AL MARYL YLAND D ELE ELECTI TION R REGION N One position open

Gary L. Grossnickle Walkersville, MD Frederick County

John “Trevor” W. Hoff New Windsor, MD Carroll County

Jon B. Sewell Tuscarora, MD Frederick County

CHES ESAPEA EAKE E ELE ELECTI TION R REGION N No positions open in 2019

DELA ELAWARE E ELE ELECTI TION R REGION N One position open

John Travis Hastings Laurel, DE Sussex County

Dr. Jennifer Timmons Delmar, DE Sussex County

KEYST YSTONE E ELE ELECTI TION R REGION N One position open

Kristina A. Mase Lebanon, PA Lebanon County

David R. Smith Palmyra, PA Lebanon County

Jeffrey L. Werner Jonestown, PA Lebanon County

Nelson W. Wicas Newtown Square, PA Delaware County

Leon E. Ziegler Myerstown, PA Lebanon County

MARVA VA ELE ELECTI TION R REGION N One position open

Jason W. Lambertson Pocomoke City, MD Worcester County

Charles M. Wright IV Hebron, MD Wicomico County

VAL ALLEY LEY ELE ELECTI TION R REGION N One position open

Julie A. Bolyard Martinsburg, WV Berkeley County

T. Jeffrey Jennings Luray, VA Page County

CANDIDATE TES S FOR OR 2020 2020 N NOMINATING G COM OMMITTE TEE E

CENTR TRAL M AL MARYL YLAND D ELE ELECTI TION R REGION N

Position 1 Dwight D. Dotterer Woodsboro, MD Frederick County Samuel K. Roop Thurmont, MD Frederick County

Position 2 Brooks P. Bachtel Taneytown, MD Carroll County Jeremy Bertier Union Bridge, MD Carroll County

Position 2 (cont.) Jay D. Dubree Aberdeen, MD Harford County John “Trevor” W. Hoff New Windsor, MD Carroll County

CHES ESAPEA EAKE E ELE ELECTI TION R REGION N

Position 1 Marshal C. Cahall Millington, MD Kent/Queen Anne’s County Edward Robinson Marydel, MD Caroline County

Position 2 Susan Andrews Hurlock, MD Dorchester County Wendall Meekins, Jr. Cambridge, MD Dorchester County

DELA ELAWARE E ELE ELECTI TION R REGION N

Position 1 Michael M. Clay Middletown, DE New Castle County James H. Baxter IV Georgetown, DE Sussex County

Position 2 Timothy J. Rogers Frankford, DE Sussex County Eric W. Carlson Felton, DE Kent County

KEYST YSTONE E ELE ELECTI TION R REGION N

Position 1 Curtis L. Zimmerman Myerstown, PA Lebanon County Stephen J. Martin Lebanon, PA Lebanon County

Position 2 Christian R. Landis Stevens, PA Lancaster County Nelson R. Beam Elverson, PA Chester County

MARVA VA ELE ELECTI TION R REGION N

Position 1 Charles M. Wright V Hebron, MD Wicomico County Susan B. Driscoll Salisbury, MD Wicomico County

Position 2 Dustin A. Calloway Mardela Springs, MD Wicomico County Alan H. Hudson Berlin, MD Worcester County

Position 2 (cont.) Justin Tomlinson Parsonsburg, MD Wicomico County

VAL ALLEY LEY ELE ELECTI TION R REGION N

Position 1 John R. Ruffner Stanley, VA Page County Caroline Dixie Boyd Scheulen Winchester, VA Frederick County

Position 2 Philip B. Glaize III Winchester, VA Frederick County Joshua M. Stephens Quicksburg, VA Shenandoah County

VO VOTING G PRO ROCESS S • Ballots mailed on April 24 • Ballot package will include everything needed to vote • Must be received on or before May 14 • Results certified on May 16

Cathy Blair cblair@mafc.com 888.339.3334

Ag E Educ ucator S r Scho holarshi hip W Winn nners s • Brittany Lynn Bowman • Tyler Butts • Erika Edwards • Lauren Elizabeth Ruskey • Meagan Nicole Slates

• Laura Antizzo • Justin Petrie • Kaitlin Bell • Lesa Ramsburg • Ryan Bollinger • Olivia Richart • Cahlen Cheatham • Jamie Stephan • Nyah DeValle • Arilyn Tegtmeier–Oatman • Emily Griswold • Lynn Thomas • Amanda Grube • Andrew Toms • Giulianna Kukor • Nathaniel Vincent • Karalyn Lonngren • Leslie Webb