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Chairman of Farm Credit Administration dies

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Chairman of Farm Credit Administration dies

Dallas Tonsager, chairman of the Farm Credit Administration since 2016, died on May 21 of lymphoma. He was 64.

The Farm Credit Administration announced his death May 22. Tonsager started his career as a farmer, operating a family farm in Oldham, S.D. Prior to leading the FCA, Tonsager was the under secretary for rural development at the U.S. Department of Agriculture. He also previously served on the boards of agricultural institutions such as the Farm Credit System Insurance Corp., Commodity Credit Corp. and on an advisory board for the Commodity Futures Trading Commission.

Board member Jeff Hall was designated acting CEO on May 20 and will assume the duties of the FCA chairman until a replacement is announced, said Mike Stokke, spokesman for the FCA. Stokke said President Donald Trump will name the next chairman.

Hall said in a news release that Tonsager promoted investments in rural communities and pushed the Farm Credit System to work with borrowers experiencing financial stress from the recent downturn in agriculture.