AUSTIN, Texas – June 26, 2026 – Farm Credit Bank of Texas (FCBT) today announced that its Board of Directors has initiated a search for an outside director to join the Board effective January 1, 2027.
The search follows the planned retirement of M. Philip “Phil” Guthrie upon the expiration of his term. Guthrie has served on the Board for 11 years and has been a valued contributor to FCBT’s oversight, governance, and strategic direction. Since 2019, he has served as chair of the Audit Committee, providing leadership and oversight during a period of continued district growth and evolving regulatory expectations.
“Phil’s leadership, expertise, and dedication have made a lasting impact on FCBT, our district, and the larger Farm Credit System,” said Jimmy Dodson, FCBT board chair. “We are deeply grateful for his years of service and look forward to identifying a new outside director who will help advance our strategic priorities and long-term success.”
The Board is seeking candidates with significant financial expertise, strong familiarity with audit and risk oversight, and a demonstrated record of leadership in complex organizations. The ideal candidate will also bring sound judgment, independence, familiarity with cooperative organizations, and a collaborative approach to Board service.
The Board is undertaking this process as part of its ongoing commitment to strong governance, thoughtful succession planning, and ensuring the Board maintains a diverse and highly qualified mix of skills and experience aligned with the Bank’s strategic priorities. Consistent with applicable regulatory requirements, the position of outside director will be filled through appointment by the Board.
To support the search, the Board has engaged Spencer Stuart to conduct a national recruitment process. The search will be led by Mary Bass of Spencer Stuart. Individuals interested in being considered for the position, or with questions regarding the search, are encouraged to contact FarmCreditBankTexas@SpencerStuart.com.
The selected candidate will join a Board focused on providing effective oversight and supporting FCBT’s long-term success in serving the agricultural and rural communities of the Texas Farm Credit District.
About Farm Credit Bank of Texas
Farm Credit Bank of Texas is a cooperatively owned wholesale bank that finances agriculture and rural America within the Texas Farm Credit District. It funds 12 affiliated associations and two other financing institutions, enabling them to make loans to farmers, ranchers, agribusinesses, and rural property owners. It also partners with other lenders to finance agricultural production and processing, essential rural infrastructure and more. The bank is part of the Farm Credit System, the nation’s oldest and largest source of rural financing.