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News Briefs, Summer 2016

Brief news items from the world of Farm Credit

Landscapes Summer 2016

Consummate Ambassador for Farm Credit Inducted Into FCBT Academy of Honor

Joe Crawford former Farm Credit Bank of Texas (FCBT) director from Baileyton, Ala., was inducted into the FCBT Academy of Honor at the bank’s annual meeting in March.

The Academy of Honor recognizes significant contributions and outstanding service in the field of agriculture or rural financing. Crawford, a consummate ambassador for Farm Credit and advocate for the co-op business model, was honored for his agricultural leadership and notable impact on the bank’s financial success and reputation.

The award establishes a $10,000 scholarship that will be presented in Crawford’s name to a student attending the university of his choice — his alma mater, the University of Alabama.

A longtime cattleman and former engineer for the U.S. Air Force and NASA, Crawford joined the FCBT board in 1998. During his 14-year tenure, he represented the bank on the Federal Farm Credit Banks Funding Corporation board from 2004 to 2012.

FCBT Board Update: Officers Re-Elected, Two Directors Start New Terms

The Farm Credit Bank of Texas Board of Directors re-elected James F. “Jimmy” Dodson of Robstown, Texas, board chairman and Lester Little of Hallettsville, Texas, board vice chairman. The two South Texas farmers will both serve one year in their positions.

The board also re-appointed director Betty Flores of Laredo, Texas. Director Brad Bean of Gillsburg, Miss., was re-elected by stockholder vote.

All four directors’ terms were effective Jan. 1, 2016. Bean, a dairyman, and Flores, former Laredo mayor, will serve three-year terms.

District Lenders Declare Record Patronage to Customers

In keeping with their philosophy as customer-owned cooperatives, the Farm Credit Bank of Texas and all 14 lending associations in the Texas Farm Credit District returned a portion of their 2015 earnings to borrowers in the form of patronage dividends.

District institutions declared a record $245 million in patronage based on their solid performance and capital positions. This tangible member benefit signals the cooperatives’ financial health and lowers the cost of borrowing.

“Our cooperative business model and our very strong teams produced extraordinary results in 2015,” FCBT Board Chairman Jimmy Dodson said of the district’s patronage distributions. “When we have success, those who benefit the most are the people who own us.”

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