ST. PAUL, Minn., November 2, 2017 — AgriBank has announced a new Executive Leadership Team (ELT) as part of a reorganization of management and internal operations to support our strategic business model. The changes are effective immediately.
"The organizational changes support our role as a funding Bank that expertly and reliably obtains funds and prudently provides funding and financial solutions to the 14 Farm Credit Associations that are our owners and customers," said AgriBank CEO William J. Thone. The goal of the new organizational structure is to provide strong credit, risk management, financial operations, corporate services and advocacy for the Associations.
The five ELT members, who all served on AgriBank's previous executive team, are:
- Bill Thone, Chief Executive Officer
- Jim Jones, Chief Risk Officer
- Jeff Moore, Chief Financial Officer
- Barbara Stille, Chief Administrative Officer and General Counsel
- Jeffrey Swanhorst, Chief Credit Officer
"We are working through this transition in a position of great strength," Thone said. "Earnings remain strong, our overall capital levels are well above required levels, our credit quality remains solid, and we have a strong cooperative relationship with all the Associations in our 15-state District."
AgriBank is one of the largest banks within the national Farm Credit System, with over $100 billion in total assets. Under the Farm Credit System's cooperative structure, AgriBank is primarily owned by 14 Farm Credit Associations. The AgriBank District covers America's Midwest, a 15-state area stretching from Wyoming to Ohio and Minnesota to Arkansas. With about half of the nation's cropland located in the AgriBank District and over 100 years of experience, the Bank and its Association owners have significant expertise in providing financial products and services for rural communities and agriculture. For more information, please visit www.AgriBank.com.