Five directors have been elected to fill expiring director positions on the board of Cape Fear Farm Credit, ACA. Four directors were elected during the business session of Cape Fear's Annual Stockholders' meeting held at the Charlie Rose Agri-Expo Center in Fayetteville, with a crowd of over 600 in attendance.
At a subsequent board meeting, a director was elected by the board of directors for "outside director" position.
Those elected to director positions for three-year terms were Robert "Bob" G. Ward of Bolivia, Wilbur C. Ward of Clarkton, Lyle Ray King of Ash, Garland Randall Joyner of Roseboro, and "outside director" Willard D. Small of Fair Bluff.
Bob Ward has lived in Brunswick County for 45 years. His 960-acre farming operations consists of tobacco, soybeans, wheat, rye, fescue, coastal hay and 300 acres of timber. In addition, he has a livestock operation that includes four 800-head swine finishing houses. He also has 125 head of brood cows.
He has farmed all of his adult life and has been a Farm Credit member for 49 years and has served as a Farm Credit director for 17 years.
Wilber C. Ward is a life-long resident of Bladen County where he has been involved in farming all of his adult life. Ward's 1,575-acre farming operation includes tobacco, peanuts, corn, soybeans and timber. He has been a Farm Credit member for 40 years, during which he has served as a director for 37 years.
He was recently re-elected to serve as vice-chairman of Cape Fear's board. Also, he presently serves on the boards of the Peanut Growers Cooperative Marketing Association, Southern States Co-op and Bladen County Farm Bureau.
Lyle Ray King is a native of Brunswick County where he has been farming all of his adult life. His 1,650-acre farming operation includes tobacco, cotton and grain. King has been a Farm Credit member for 24 years and has served as a director for 12 years.
King serves on the board of Atlantic Telephone Co-op and serves on the Phase I Tobacco Trust Fund Commission. At a recent board meeting, King was re-elected to serve a second term as Chairman of the board.
Garland Randall Joyner has been a resident of Sampson County for over 35 years. In addition to a 700-acre farming operation including corn, soybeans, and hay, Joyner operates a commercial dairy with 750 head of dairy cows and 550 young stock.
He has been a Farm Credit member for 15 years and this is his first term as director for Cape Fear Farm Credit. Joyner also serves on the local board of Southern States.
Willard D. Small was elected as outside director which requires that he not have a direct loan with the association. Small is a native of Columbus County and was the past president and CEO of Imperial Tobacco Company, LTD.
He has been involved in the automobile industry for 47 years and is currently associated with Fair Bluff Motors, Lumberton Motors and Mullins Motors.
His farming operation includes 375 acres of farmland and 3,000 acres of timberland. He serves on the boards for Southeastern Community College and Campbell University. He also serves on the Tobacco Trust Fund Commission and as Town Commissioner for Fair Bluff.
Cape Fear Farm Credit is a farmer-owned cooperative, which makes long-term, intermediate-term and short-term loans for agricultural purposes and other needs of part-time and full-time farmers. Also, Cape Fear makes home loans through the Country Mortgages Program.
Other financial services available through Farm Credit are life insurance, crop insurance, and appraisal services. Additionally, financial planning and investing is available at Farm Credit locations through Money Concepts Capital Corporation.
As of February 28, Cape Fear Farm Credit had approximately $433 million of loans outstanding to over 2,400 members. In addition, Cape Fear had $190 million of loan volume fully participated with other Farm Credit institutions. Cape Fear Farm Credit has 12 branch offices located in southeastern North Carolina.