CoBank Announces 2024 Board Election Results
DENVER – September 23, 2024 – CoBank, a cooperative bank serving agribusinesses, rural infrastructure providers and Farm Credit associations throughout the United States, today announced results of stockholder elections for the bank's 2025 Board of Directors.
Board of Directors Election
A total of four board seats were on the ballot. The names of the successful candidates are listed in the following table, along with region, type of seat, occupation, residence and term expiration date.
| Central Region One Stockholder One Vote seat |
| Jason T. Lay, Bloomington, IL |
|
|
| Term expires in 2028 |
| East Region One Stockholder One Vote seat |
| Russell G. Brown*, Warsaw, VA |
- Retired, Former Officer, Atlantic Union Bank
|
| Term expires in 2028 |
| Mid Plains Region One Stockholder One Vote seat |
| Duane R. Anderson*, Seneca, KS |
- Operations Lead, J-Six Enterprises, LLC
|
| Term expires in 2028 |
| South Region Modified Equity seat |
| Scott R. Hendrix, Tupelo, MS |
- CEO and General Counsel, Tombigbee Electric Power Association and Tombigbee Fiber, LLC
|
| Term expires in 2028 |
|
* Incumbent board member
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Also today, CoBank announced the reappointment of outside director Michael S. Brown to a four-year term expiring in 2028. Mr. Brown, originally appointed to the board in 2017, is a retired commercial banking executive who previously worked for more than 30 years with JPMorgan Chase and predecessor organizations. He resides in San Diego, CA.
CoBank will have 14 elected directors from six regions in 2025. The board also includes two outside, independent board members with no customer or Farm Credit System affiliation, and two additional appointed directors as provided for under the bank's governance bylaws.
“On behalf of the entire board, I would like to extend our congratulations to these recently elected, re-elected and re-appointed board members and also share my gratitude for their service to CoBank,” said Kevin Still, chair of the CoBank board. “We look forward to working together to support our customers in the year ahead and ensuring the bank continues to fulfill its mission of service to America.”
The bank uses an independent Nominating Committee to develop a slate of qualified director candidates for each election. No current board member may serve as a member of the Nominating Committee. No member of management sits on the CoBank board. Additional information about the bank’s governance and board members can be found on CoBank.com.
About CoBank
CoBank is a cooperative bank serving vital industries across rural America. The bank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states. The bank also provides wholesale loans and other financial services to affiliated Farm Credit associations serving more than 76,000 farmers, ranchers and other rural borrowers in 23 states around the country.
CoBank is a member of the Farm Credit System, a nationwide network of banks and retail lending associations chartered to support the borrowing needs of U.S. agriculture, rural infrastructure and rural communities. Headquartered outside Denver, Colorado, CoBank serves customers from regional banking centers across the U.S. and also maintains an international representative office in Singapore.