A former Newton banker was named by Gov. Terry Branstad today as the new executive director of the Iowa Agricultural Development Authority.
Steven K. Ferguson, who previously worked at F&M Bank in Newton, will begin his new position on July 9. In February 2010, F&M Bank in Newton and its other Iowa affiliates was sold for $50 million to Great Western Bank of Sioux Falls, S.D.
"Steven will be a tremendous executive director, and brings with him significant skills gained in a variety of different financial and agricultural positions," Branstad said in announcing the appointment.
Ferguson most recently served as the director of international programs at the Greater Des Moines Partnership and has held positions at Bankers Trust in Des Moines, the American Soybean Association, USDA Rural Development and the Iowa Department of Agriculture and Land Stewardship.
The Iowa Agricultural Development Authority was created by the Legislature in 1980 to provide financial assistance to Iowa's grain and livestock producers.