Since 1985, FCA has been governed by a full-time, three-person board, whose members are appointed by the president with the advice and consent of the Senate.
They serve six-year terms and may not be reappointed to succeed themselves after serving full terms or more than three years of previous members’ terms. The president designates one member as chairman of the board, who serves until the end of his or her own term. The chairman also serves as FCA’s chief executive officer.
What the board does
The FCA board approves the policies, regulations, charters, and enforcement activities that ensure a strong Farm Credit System. The board also provides for the examination and supervision of the FCS, including Farmer Mac, and oversees the FCS Building Association’s activities.
Glen R. Smith was designated chairman and CEO of the Farm Credit Administration by President Donald Trump on July 17, 2019. He has served as a member of the FCA board since December 2017. Mr. Smith will serve a term that expires May 21, 2022.
He also serves as a member of the board of directors of the Farm Credit System Insurance Corporation, which is an independent U.S. government corporation responsible for ensuring the timely payment of principal and interest on insured notes, bonds, debentures, and other obligations issued on behalf of FCS banks.
Mr. Smith is a native of Atlantic, Iowa, where he was raised on a diversified crop and livestock farm. His farm experience started at a very early age, after his father was involved in a disabling farm accident. He graduated from Iowa State University 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, Mr. Smith and his wife, Fauzan, moved back to his hometown and started farming and developing his ag service business. Today, their family farm, Smith Generation Farms Inc., has grown to encompass about 2,000 acres devoted to corn, soybeans, hay, and a small beef cow herd.
Mr. Smith is founder and co-owner of Smith Land Service Co., an ag 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 to the Atlantic Community School Board of Education on which he served for nine years.
In 1990, he earned the title of Accredited Rural Appraiser from the American Society of Farm Managers and Rural Appraisers. In 2000, he served as president of the Iowa chapter of that organization. He is a lifelong member of the Farm Bureau, Iowa Corn Growers Association, Iowa Soybean Association, and Iowa Cattlemen’s Association.
The Smiths have four grown children and four grandchildren. Two of their children are involved in production agriculture. Their son Peter has assumed managerial responsibilities for both the family farm and business.
Communication from Mr. Smith
- November 19, 2019: Oral statement (PDF) before a hearing of the House Agriculture Committee's Subcommittee on Commodity Exchanges, Energy, and Credit. Video of the full hearing.
- August 7, 2019: Remarks at the Farm Credit Administration All-Staff Meeting (PDF)
- April 10, 2019: Remarks at the Farm Credit Bank of Texas Annual Stockholders Meeting (PDF)
- February 6, 2019: Farm Credit System — U.S. Agricultural Credit Conditions (PDF), presentation at the American Society of Farm Managers and Rural Appraisers meeting in Ames, Iowa, and to the ECON 466: Agricultural Finance class at Iowa State University.
- November 13, 2018: Remarks to a delegation from the National Bureau of Statistics of China (PDF)
- August 1, 2018: Remarks at the Farm Credit West Board Meeting (PDF)
- June 4, 2018: Remarks at the Farm Credit Council Board of Directors Meeting (PDF)
- March 5, 2018: Remarks at the AgriBank Annual Meeting (PDF)
Jeffery S. Hall was appointed to the FCA board by President Barack Obama on March 17, 2015. Mr. Hall is serving a term that expired on October 13, 2018. He will continue to serve until his successor has been named.
Mr. Hall also serves as chairman of the board of directors of the Farm Credit System Insurance Corporation, an independent U.S. government-controlled corporation that insures the timely payment of principal and interest on obligations issued jointly by Farm Credit System banks.
Mr. Hall was president of The Capstone Group, an association management and consulting firm that he co-founded in 2009. He was the state executive director for the U.S. Department of Agriculture’s Farm Service Agency in Kentucky from 2001 to 2009. In that role, he had responsibility for farm program and farm loan program delivery and compliance.
From 1994 to 2001, Mr. Hall served as assistant to the dean of the University of Kentucky, College of Agriculture, advising the dean on state and federal legislative activities and managing a statewide economic development initiative called Ag-Project 2000.
Mr. Hall also served as a senior staff member in the office of U.S. Senator Mitch McConnell from 1988 until 1994. During that time, he was the legislative assistant for agriculture, accountable for internal and external issue management.
Before joining Senator McConnell’s staff, Mr. Hall served on the staff of the Kentucky Farm Bureau Federation. Over his 30-year career in agriculture, he has held leadership positions in the following nonprofits: the Kentucky Agricultural Council, the Agribusiness Industry Network, the Louisville Agricultural Club, the Kentucky Agricultural Water Quality Authority, and the Governor’s Commission on Family Farms.
Mr. Hall was raised on a family farm in southern Indiana, which has been in his family for nearly 200 years. He is currently a partner in the farm with his mother and sister. Mr. Hall received a Bachelor of Science from Purdue University.
- June 13, 2019: Statement (PDF) at the FCA board meeting, acknowledging the passing of Dallas Tonsager and his many contributions to U.S. agriculture and rural America
- April 17, 2018: Remarks at the Directors and Management Meeting, Farm Credit Associations of Oklahoma (PDF)
- September 27, 2017: Remarks at the AgriBank District Conference (PDF)
- October 13, 2016: Statement (PDF) in recognition of National Co-op Month at the FCA Board Meeting
- July 14, 2016: Statement (PDF) on the Farm Credit System 100th Anniversary Resolution at the FCA Board Meeting
- March 29, 2016: Remarks at the Texas Farm Credit Bank Board Meeting (PDF)
- March 10, 2016: Statement (PDF) on the adoption of the tier 1/tier 2 regulatory capital framework at the FCA Board Meeting
- March 10, 2016: Statement (PDF)
- October 20, 2015: Remarks at the AgFirst Board Meeting (PDF)
- October 8, 2015: Statement (PDF) on the board resolution recognizing October as National Cooperative Month at the FCA board meeting
- June 17, 2015: Remarks at the AgriBank Board Meeting (PDF)