2019 annual meetings - mafc.com · 2018 number of voting members . 0 2,000 4,000 6,000 8,000 10,000...
TRANSCRIPT
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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
0
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 customer-owned and customer-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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VOTING TIMELINE • 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 STOCKHOLDERS • 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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CANDIDATES FOR DIRECTOR
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CENTRAL MARYLAND ELECTION REGION 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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CHESAPEAKE ELECTION REGION No positions open in 2019
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DELAWARE ELECTION REGION 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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KEYSTONE ELECTION REGION 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 ELECTION REGION 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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VALLEY ELECTION REGION 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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CANDIDATES FOR 2020 NOMINATING
COMMITTEE
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CENTRAL MARYLAND ELECTION REGION
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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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CHESAPEAKE ELECTION REGION
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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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DELAWARE ELECTION REGION
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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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KEYSTONE ELECTION REGION
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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 ELECTION REGION
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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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VALLEY ELECTION REGION
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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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VOTING PROCESS
• 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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Ag Educator Scholarship Winners
• 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