ST. PAUL, Minn., Nov. 15, 2016 /PRNewswire/ -- Effective, December 1, 2016, William J. Thone will assume the role of CEO of AgriBank, where he has been interim CEO since August 1, 2016.
"Mr. Thone has provided exemplary leadership during his time as interim CEO," said Matt Walther, AgriBank board chair. "We're delighted Bill has accepted the board's offer and look forward to working closely with him as we continue to partner with affiliated Farm Credit Associations as they provide farmers and ranchers with important financial solutions."
Thone began his Farm Credit career at the Farm Credit Bank of St. Louis in 1979, working in the Bank's legal department until he joined AgriBank in 1992 as assistant general counsel. In 1999, Thone was named AgriBank's vice president and general counsel responsible for board secretary duties and governance oversight, as well as corporate legal counsel and management of the Bank's legal team. As vice president and general counsel, Thone was also a member of AgriBank's executive leadership team.
"AgriBank's financial position remains strong and has been recognized again as the safest bank in the United States," Walther said. "This strong position allows AgriBank to provide reliable and consistent credit in support of farmers and rural communities."
AgriBank is one of the largest banks within the national Farm Credit System, with over $100 billion in total assets. Under the Farm Credit System's cooperative structure, AgriBank is primarily owned by 17 affiliated Farm Credit Associations. The AgriBank District covers America's Midwest, a 15-state area stretching from Wyoming to Ohio and Minnesota to Arkansas. With about half of the nation's cropland located in the AgriBank District and over 100 years of experience, the Bank and its Association owners have significant expertise in providing financial products and services for rural communities and agriculture. For more information, please visit www.AgriBank.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/william-j-thone-named-agribank-ceo-300363187.html