Austin-based Farm Credit Bank of Texas CEO Larry Doyle recently announced that he is retiring after 17 years with the bank and 45 years in the Farm Credit System. Amie Pala, the bank’s current chief financial officer, will succeed Doyle on January 1, 2021. Doyle will remain CEO until December 31, 2020, to support the transition, after which he will move into a strategic consulting role through the first quarter of 2021.
“Larry Doyle has been a tremendous leader during his tenure at Farm Credit Bank of Texas and significantly transformed the bank’s business model, increasing high-quality earning assets and growing net income by 300 percent and 235 percent, respectively,” says Jimmy Dodson, board chairman. “Over his 17-year tenure, capital increased $1.6 billion and $735 million in patronage has been paid to our district associations. We appreciate his strategic vision, dedication and leadership in the industry and wish him the very best in his well-deserved retirement.”
“It’s been a privilege to lead the bank and the dedicated people who work here, and to serve the Farm Credit System in its commitment to the rural and agricultural communities of this country,” Doyle says. “The experiences I’ve had while leading the bank have been the most rewarding of my career.”
Succession planning has been an ongoing priority for the bank’s board of directors, and the board has worked with a national search firm to select the most qualified candidate to lead the bank.
“Amie’s progressive leadership, knowledge and experience in banking, treasury management, capital markets and corporate finance are of remarkable value to Farm Credit Bank of Texas as she leads the organization forward,” Dodson says. “The board is confident in her ability to continue the organization’s success well into the future.”
Pala has served as the bank’s chief financial officer for 10 years, following 15 years as vice president and treasurer. Her expansive leadership and expertise extend to her roles on the Farm Credit System disclosure committee and the Farm Credit captive insurance board. Pala holds a degree in finance from the University of Texas and an MBA degree from the University of Dallas.
“I am honored to take the helm of Farm Credit Bank of Texas and build upon Larry’s legacy,” Pala says. “I look forward to leading the bank as we continue to support asset growth, earnings and robust patronage programs along with supporting the rollout of our new suite of lending systems.”