Lone Star Ag Credit hires new CEO
Lone Star Ag Credit of Fort Worth has hired Joe Hayman, a 25-year veteran of farm credit, as chief executive officer of the $1.7 billion association. Bill Melton, who has served as interim CEO for the past year, will return to retirement when the transition takes place on Feb. 22, the association said in a news release.
Melton spent 26 years of his career with AgFirst Farm Credit Bank, He first retired in June 2013, and then was chosen to lead Cape Fear Farm Credit as its interim CEO for more than two and a half years. Melton joined Lone Star Ag Credit in November 2018 as interim CEO, and, during his tenure, Lone Star paid the largest patronage in its history of $20.3 million.
Hayman currently serves as president and chief executive officer of Southern AgCredit, a position he has held for more than 12 years at the $1.2 billion agricultural lender. Prior to that, he was the chief operating officer of Texas Farm Credit, formerly Texas AgFinance.
“We are very fortunate and excited to have Joe join us at Lone Star as CEO,” said David Harris, chairman of the board for Lone Star. “Joe has a tremendous track record of success as a farm credit executive.”
Hayman, a native of Grapevine, is a graduate of Texas A&M University with a degree in agricultural economics, a graduate of Clarendon College with a degree in general agriculture, and is currently pursuing a professional certificate in innovation and technology from MIT.
“I’m honored to join Lone Star Ag Credit as CEO,” said Hayman. “Lone Star has deep roots within the Farm Credit System and its communities, and is poised for tremendous growth in competitiveness, stockholder value and employee opportunity.”
Lone Star Ag Credit serves 48 counties and has credit offices in Abilene, Cleburne, Corsicana, Denton, Fort Worth, Georgetown, Hillsboro, Lampasas, New Boston, Paris, Sherman, Stephenville, Sweetwater, Waco and Weatherford.