Nov 30, 2016

FCSIC board of directors elects new chairman

Jeffery S. Hall of Kentucky was elected today as chairman of the Farm Credit System Insurance Corporation board of directors. He succeeds Dallas Tonsager, who served as chairman of the FCSIC board of directors from March 2015 until he was designated board chairman and CEO of the Farm Credit Administration (FCA).

The Insurance Corporation is an independent U.S. government-controlled corporation responsible for ensuring the repayment of principal and interest on certain Farm Credit System debt obligations issued to investors. As of Sept. 30, 2016, the FCSIC insurance fund was at $4.34 billion, insuring $252 billion in outstanding FCS debt.

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.

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. He received a B.S. from Purdue University.

The Insurance Corporation is managed by a three-member board of directors consisting of individuals who serve concurrently as members of the FCA board. Hall was nominated to serve on the FCA board by President Barack Obama on March 17, 2015. In addition to Chairman Hall, Dallas Tonsager and Kenneth A. Spearman serve as members of the board.