The Farm Credit Administration (FCA) has regulatory authority over the Farm Credit System in the United States and is overseen by Congress. The Farm Credit System carries over $350 Billion in assets. It is the largest single provider of Ag credit in all 50 states. Now, it is being run by an Iowan.
President Donald Trump appointed Atlantic, Iowa native Glen R. Smith to be the chairman and CEO of the FCA earlier this week. Smith was raised on a crop and livestock farm. He attended Iowa State University and graduated in 1979 with a B.S. in Agricultural Business. He now operates a 2,000-acre farm, Smith Generation Farms Inc, where they raise corn, soybeans, hay, and have a small beef herd.
Smith is a founder and co-owner of Smith Land Service Co., which specializes in farm management, land appraisals, and farmland brokerage. The company serves about 30 of Iowa’s 99 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.
Glen Smith has been an active member of the FCA board, as well as the board of directors for the Farm Credit System Insurance Corporation. President Trump appointed him to the board in December of 2017, and his term will expire in May of 2022. Smith succeeds Dallas Tonsager, who died in office back in May. He replaces temporary CEO Jeffery Hall, who served during Tonsager’s illness.
Smith is active in his community where he serves on community, church, and professional boards. He is a nine-year member of the Atlantic Community School Board of Education. 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 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.