Garnett Re-Elected Chairman of Farm Credit Council Board of Directors

For Immediate Release January 31, 2012

WASHINGTON, D.C.  –  Jon M. “Mike” Garnett of Spearman, Texas, was re-elected on Jan. 26 to serve as chairman of The Farm Credit Council Board of Directors. Garnett also is a director on the board of Farm Credit Bank of Texas (FCBT), a wholesale funding bank that is part of the nationwide Farm Credit System.

Based in Washington, D.C., The Farm Credit Council is a national trade association that represents the interests of the institutions of the Farm Credit System, the oldest and largest source of financing for agriculture, agribusiness and rural property in the United States. Garnett was first appointed to the council’s board in 2003, and has been its chairman since January 2011. He also is chairman of that board’s executive committee, vice chairman of its legislative committee and a member of its coordinating committee.

Garnett has served on the FCBT Board of Directors since 1999, and was its vice chairman from 2000 through 2008. Previously, he served as a director of Panhandle-Plains Federal Land Bank Association (later Panhandle-Plains Land Bank) for 23 years, and was the association’s board chairman from 1995 to 1998. He runs stocker cattle and grows grain and forage crops near Spearman, in the Texas Panhandle.

Headquartered in Austin, Farm Credit Bank of Texas provides funds and services to 17 rural lending cooperatives in Alabama, Louisiana, Mississippi, New Mexico and Texas.

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