Colonial Farm Credit Selects New CEO

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Chief Lending Officer Paul B. Franklin, Sr. begins transition to President and CEO position

Picture of Paul Franklin

Paul B. Franklin, Sr.

“Paul is uniquely qualified to assume this position by virtue of his agricultural background, education and experience.”

Agricultural cooperative Colonial Farm Credit announced that Paul B. Franklin, Sr. has been selected as president and chief executive officer of the $660 million lending institution. He will transition to the position in the spring of 2017 upon the retirement of current president and CEO Greg Farmer.

In making the announcement, board chairman and local farmer Hugh Jones said, “Paul is uniquely qualified to assume this position by virtue of his agricultural background, education and experience.”

Franklin has over 25 years of service with Colonial Farm Credit and is currently chief lending officer overseeing all aspects of the credit and risk management functions in addition to leading a team of commercial relationship managers. He previously served as a credit officer from 1991 to 2007 after a stint as an examiner with the Farm Credit Administration in 1990.

Raised on his family’s grain farm in Essex County, Virginia, Franklin earned his Bachelor of Science degree in agricultural economics from Virginia Tech and his MBA from Troy University. He is also a graduate of the LSU School of Banking.

Franklin is active in the agriculture industry and his community, serving as a board member of the Virginia Agribusiness Council, the Hanover Education Foundation and as a YMCA volunteer coach.

“I am pleased to have a person of Paul’s experience and aptitude to continue the excellent leadership foundation provided by Greg Farmer,” added Jones.

Franklin will continue to serve as chief lending officer during the transition period.

ABOUT COLONIAL FARM CREDIT
Colonial Farm Credit supports rural communities and agriculture with reliable, consistent credit and financial services. The cooperative has over 4,790 members and $660 million in loans outstanding, with 13 offices serving eastern Virginia and southern Maryland. More information is available at http://www.colonialfarmcredit.com.

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