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

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

Feb 16, 2024 660 likes •1.32k views

2019 ANNUAL MEETINGS 2019 PRESIDENTS 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,

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SLIDE 1

2019 ANNUAL MEETINGS

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2019 PRESIDENT’S REPORT

PRESIDENT & CEO, TOM TRUITT

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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
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2019 FINANCIAL UPDATE

CHIEF FINANCIAL OFFICER, BRIAN ROSATI

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2018 Number of Voting Members

2,000 4,000 6,000 8,000 10,000 12,000 9,830 9,960 10,184 10,400 10,500 2014 2015 2016 2017 2018

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2018 Loan Volume Outstanding (In billions)

$0.00 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $2.28 $2.46 $2.61 $2.72 $2.80 2014 2015 2016 2017 2018

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Diversification of portfolio allows for better risk management.

Concentrated Portfolio Diversified Portfolio

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2018 Portfolio Concentrations

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

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2018 Credit Quality

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

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2018 Net Income (in millions)

$0.0 $10.0 $20.0 $30.0 $40.0 $50.0 $60.0 $70.0 $80.0 $67.0 $53.1 $57.3 $76.6 $67.9 2014 2015 2016 2017 2018

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$322 million

5-Year Net Income

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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

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Since 1990

$517 million

in Patronage

$482 million

in distributed cash

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Outstanding Qualified Surplus

$35.7 million

2012-2014

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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

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2019 NOMINATING COMMITTEE REPORT

CORPORATE SECRETARY, CATHY BLAIR

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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
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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."

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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

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CA CANDIDATE TES S FO FOR R DI DIRE RECTOR R

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

One position open

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Gary L. Grossnickle Walkersville, MD Frederick County

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

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Jon B. Sewell Tuscarora, MD Frederick County

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CHES ESAPEA EAKE E ELE ELECTI TION R REGION N

No positions open in 2019

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DELA ELAWARE E ELE ELECTI TION R REGION N

One position open

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John Travis Hastings Laurel, DE Sussex County

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  • Dr. Jennifer Timmons

Delmar, DE Sussex County

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KEYST YSTONE E ELE ELECTI TION R REGION N

One position open

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Kristina A. Mase Lebanon, PA Lebanon County

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David R. Smith Palmyra, PA Lebanon County

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Jeffrey L. Werner Jonestown, PA Lebanon County

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Nelson W. Wicas Newtown Square, PA Delaware County

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Leon E. Ziegler Myerstown, PA Lebanon County

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MARVA VA ELE ELECTI TION R REGION N

One position open

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Jason W. Lambertson Pocomoke City, MD Worcester County

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Charles M. Wright IV Hebron, MD Wicomico County

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VAL ALLEY LEY ELE ELECTI TION R REGION N

One position open

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Julie A. Bolyard Martinsburg, WV Berkeley County

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  • T. Jeffrey Jennings

Luray, VA Page County

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

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

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Position 1

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

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Position 2

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

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Position 2 (cont.)

Jay D. Dubree Aberdeen, MD Harford County John “Trevor” W. Hoff New Windsor, MD Carroll County

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CHES ESAPEA EAKE E ELE ELECTI TION R REGION N

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Position 1

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

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Position 2

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

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DELA ELAWARE E ELE ELECTI TION R REGION N

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Position 1

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

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Position 2

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

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KEYST YSTONE E ELE ELECTI TION R REGION N

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Position 1

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

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Position 2

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

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MARVA VA ELE ELECTI TION R REGION N

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Position 1

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

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Position 2

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

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Position 2 (cont.)

Justin Tomlinson Parsonsburg, MD Wicomico County

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VAL ALLEY LEY ELE ELECTI TION R REGION N

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Position 1

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

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Position 2

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

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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
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SLIDE 63

Cathy Blair

cblair@mafc.com 888.339.3334

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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
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  • 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