Board of Directors

Farmer Mac’s 15-member Board of Directors oversees the Corporation to ensure that Farmer Mac is managed in a safe and sound manner and with an appropriate balance between financial performance and fulfillment of its public mission.


Farmer Mac’s charter legislation provides that Farmer Mac’s Board of Directors consist of fifteen members. Five of the directors are elected by a plurality of the votes of the holders of Class A Voting Common Stock (stock that may be held only by banks, insurance companies and other financial institutions that are not Farm Credit System institutions) and five are elected by a plurality of the votes of the holders of Class B Voting Common Stock (stock that may be held only by Farm Credit System institutions). The remaining five members are appointed by the President of the United States with the advice and consent of the United States Senate.


The Board typically meets in person at least six times a year and has established seven standing committees to assist it in the performance of its responsibilities. Current Board members are listed below:



Lowell L. Junkins, Chairman(1)
Political Affairs Consultant
Lowell Junkins & Associates
Des Moines, Iowa
Myles J. Watts, Vice Chairman(1)
Professor, Agricultural Economics
Montana State University
Bozeman, Montana
Dennis L. Brack (2)
Director
Bath State Bank
Bath, Indiana
Chester J. Culver(1)
Founder
Chet Culver Group
Des Moines, Iowa
Richard H. Davidson(3)
Director
AgriBank, FCB
St. Paul, Minnesota
James R. Engebretsen(2)
Assistant Dean
Marriott School of Management
Brigham Young University
Provo, Utah
Dennis A. Everson(2)
Director
First Dakota National Bank
Yankton, South Dakota
Sara L. Faivre-Davis(1)
Co-owner and Managing Partner
Wild Type Ranch
Cameron, Texas

Thomas W. Hill(3)
Former Chief Financial and Operations Officer
Farm Credit Bank of Texas
Port Aransas, Texas
Mitchell A. Johnson(2)
Private Investor
Washington, District of Columbia

Clark B. Maxwell(2)
Senior Vice President
Chatham Financial Corp.
Kennett Square, Pennsylvania
James B. McElroy (3)
Director
AgriBank, FCB
St. Paul, Minnesota
Dan Raines(3)
Director
AgGeorgia Farm Credit, ACA
Perry, Georgia
Bruce J. Sherrick(1)
Professor, Agricultural and Applied Finance
University of Illinois
Champaign, Illinois
Douglas E. Wilhelm(3)
Former Chief Risk Officer
CoBank, ACB
Denver, Colorado

(1) Presidential Appointee
(2) Director elected by holders of Class A Common Stock
(3) Director elected by holders of Class B Common Stock