2019 ANNUAL MEETINGS - mafc.com · 2018 Number of Voting Members . 0 2,000 4,000 6,000 8,000 10,000...
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2019 ANNUAL MEETINGS
Transcript of 2019 ANNUAL MEETINGS - mafc.com · 2018 Number of Voting Members . 0 2,000 4,000 6,000 8,000 10,000...
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
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
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
Diversification of portfolio allows for better risk management.
Concentrated Portfolio Diversified Portfolio
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%
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
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
$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 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
2019 NOMINATING
COMMITTEE REPORT
CORPORATE SECRETARY, CATHY BLAIR
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
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."
ELECTION REGIONS
• Entitled to vote in all election regions, but not required to do so
• Ballot is still valid if portions are left blank
CANDIDATES FOR DIRECTOR
CENTRAL MARYLAND ELECTION REGION 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
CHESAPEAKE ELECTION REGION No positions open in 2019
DELAWARE ELECTION REGION One position open
John Travis Hastings Laurel, DE
Sussex County
Dr. Jennifer Timmons Delmar, DE
Sussex County
KEYSTONE ELECTION REGION 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 ELECTION REGION One position open
Jason W. Lambertson Pocomoke City, MD Worcester County
Charles M. Wright IV Hebron, MD
Wicomico County
VALLEY ELECTION REGION One position open
Julie A. Bolyard Martinsburg, WV Berkeley County
T. Jeffrey Jennings Luray, VA
Page County
CANDIDATES FOR 2020 NOMINATING
COMMITTEE
CENTRAL MARYLAND ELECTION REGION
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
CHESAPEAKE ELECTION REGION
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
DELAWARE ELECTION REGION
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
KEYSTONE ELECTION REGION
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 ELECTION REGION
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
VALLEY ELECTION REGION
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
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
Ag Educator Scholarship Winners
• 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
