The Federal Agricultural Mortgage Corporation announced that Jeffrey L. Plagge and Kevin G. Riel have been elected as the newest members of the company's board of directors. They replace Dennis Brack and Everett Dobrinski on Farmer Mac's board, both of whom chose not to stand for re?election. Mr. Plagge brings decades of experience in banking and has served on the boards of Northwest Financial Corporation and Northwest Bank since September 2009 and for the Federal Home Loan Bank of Des Moines since January 2024.

He has also served as a Managing Director and consultant for Barnes & Co. since January 2024 and served as the President and CEO of Northwest Financial Corporation from 2009 to 2020. In September 2019, Mr. Plagge was appointed Iowa Superintendent of Banking for the Iowa Division of Banking by the state governor and served until December 2023.

Mr. Riel also has experience serving on boards of financial institutions and brings firsthand experience of American agriculture, having been a hop farmer for nearly four decades. He has served as the President of Double 'R' Hop Ranches Inc. since January 1995, where he also served as a manager from June 1986 to December 1994. Mr. Riel also currently serves on the board of directors of Yakima Chief Hops, which he joined in 2021.

He previously served on the board of directors of CoBank, ACB (2014 to 2021) and Northwest Farm Credit Services (2007 to 2017), including as chair of the board for part of his tenure at both institutions. Mr. Plagge joins four other board members elected each year by holders of Class A voting common stock. Mr. Riel joins four other board members elected each year by holders of Class B voting common stock (not listed on any exchange).

Five other board members are appointed by the President of the United States with the advice and consent of the United States Senate.