Mike Stokke or Emily Yaghmour
Atlantic man named to chairman and CEO of Farm Credit Administration
McLEAN, VA (July 19, 2019) – Glen Smith, Atlantic, has been designated by President Donald Trump as chairman and CEO of the Farm Credit Administration (FCA) effective July 17. FCA has examination and regulatory authority over the Farm Credit System, with oversight by Congress. Collectively the institutions of the Farm Credit System constitute the nation’s largest single provider of agricultural credit, with offices in all 50 states and assets over $350 billion.
Smith has served as a member of the FCA board, as well as a member of the board of directors of the Farm Credit System Insurance Corporation, since December 2017 when President Trump appointed him to the FCA board. His term on the board will expire on May 21, 2022. As chairman he succeeds Dallas Tonsager, who died in office in May. As CEO, he succeeds Jeff Hall, who became acting CEO following Mr. Tonsager’s incapacity from illness. Mr. Hall continues to serve as a member of the FCA board and as chairman of the board of directors of the Farm Credit System Insurance Corporation.
Smith, an Atlantic native, gained farm experience at a very early age, after his father was involved in a disabling farm accident. He graduated from Iowa State Univ. in 1979 with a Bachelor of Science in agricultural business and accepted a position with Doane Agricultural Services as state manager of the company’s farm real estate division.
In 1982, Smith and his wife, Fauzan, moved back to his hometown and started farming and developing his agricultural service business. Today, Smith Generation Farms Inc., has grown to encompass nearly 2,000 acres devoted to corn, soybeans, hay, and a small beef cow herd.
He is founder and co-owner of Smith Land Service Co., an agricultural service company that specializes in farm management, land appraisal, and farmland brokerage, serving about 30 Iowa counties. From 2001 to 2016, he was also co-owner and manager of S&K Land Co., an entity involved in the acquisition, improvement, and exchange of Iowa farmland. Mr. Smith has served on numerous Community, church, and professional boards. He was elected and served on the Atlantic Community School Board of Education for nine years.
In 1990, he earned the title of Accredited Rural Appraiser from the American Society of Farm Managers and Rural Appraisers and in 2000, he served as president of the Iowa chapter of that organization. He is a lifelong member of the Farm Bureau of Iowa Corn Growers Association of Iowa Soybean Assoc., and Iowa Cattlemen’s Assoc. The Smiths have four grown children and three grandchildren. Two of their children are involved in production agriculture. Their son, Peter has assumed managerial responsibilities for both the family farm and business.
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