Stockholders Re-Elect Three Directors

Stockholders at the June 2020 Annual Meeting of the American Federal Corporation re-elected three Directors to the bank’s eight-member Board.

Directors Dean McCleary, Ross Olson and Patrick Carey will serve three-year terms.

McCleary, American Federal Bank Chief Financial Officer and Board Treasurer, joined American Federal in 2002 and was elected to the Board of Directors in 2014. He is a Senior Vice President and Director of the Home Office Finance and Accounting Department in Fargo.

Olson joined American Federal as the Chief Operating Officer in 1991, was named Executive Vice President in 2003 and retired in 2019.  He was elected to the Board in 1998.

Carey joined the Board in 1995.  He is the Senior Vice President of Sales for Stratasys, a global leader in 3D printing and additive manufacturing.

Other currently serving Directors are American Federal Bank Chief Executive Officer Steve Worwa, retired American Federal Bank Crookston Market President Percy Blake, Chancellor Emeritus of the University of Minnesota Crookston Dr. Don Sargeant, farmer and business owner Jeff Topp, and American Federal Bank Hallock Market President Paul Craigmile.

American Federal Is a Top Ag Lender

Group of 8 bankers dressed casually standing in a sugar beet fieldAmerican Federal is ranked a “Top 100 Ag Lender” by the American Banker Association (ABA).

Each quarter, the ABA ranks financial institutions across America based on ag loan volume and concentration.

American Federal has been listed as a leading farm lender in the United States by the ABA for several years in the current and the last decades.

When American Federal opened its doors for business in 1891 as a neighborhood financial association in East Grand Forks, Minnesota, it was at the heart of agriculture productivity in the Red River Valley.

During the past 129 years, that deep connection with the land and the region’s farmers and ranchers has only grown. A testimonial to that growth and our trusted relationships with our clients comes in the form of American Federal being recognized as a Top Ag Lender in the United States.

Throughout the decades, in good times and challenging times, we have worked with farm owners and producers to help them be successful and achieve their goals.  During the first and second rounds of the Paycheck Protection Program (PPP) this year, American Federal submitted applications for 655 small businesses and farmers, totaling $45 million in loan assistance for our clients, and received funding from the Small Business Administration (SBA) for 100 percent of the applicants.