Bonnie Johnson
September 02, 2025
Media ArticleFarm Credit of the Virginias (FCV), a cooperative lending institution serving Virginia, West Virginia, and western Maryland, has announced the appointment of Pete Cypret as its new Chief Executive Officer, effective October 1, 2025. His selection follows a comprehensive recruitment process led by the FCV board of directors.
Cypret has been with FCV since 2019, serving as Chief Risk Officer. In this role, he led departments including risk management, loan operations, compliance, information technology, reporting, and project management. He has overseen major technological improvements that increased efficiency and enhanced service to customer-owners. Prior to joining FCV, Cypret spent over 20 years in global financial risk management.
Board Chair Kevin Craun expressed strong confidence in the appointment. “Pete has proven to be a thoughtful and dedicated leader during his six-year tenure with Farm Credit of the Virginias. Under his steady guidance, our risk management team has worked to ensure our Association’s safety and soundness.
His leadership has helped FCV strategically prepare for current and future opportunities, allowing us to provide our customer-owners with the best experience possible. The board of directors is confident in Pete’s clear vision for the future of FCV. We are looking forward to working with him in his expanded leadership role as our CEO.”
The transition comes as current CEO Brad Cornelius retires in October after 33 years of service. Craun thanked Cornelius for creating “a culture of excellence and accountability” while expanding FCV’s focus on talent, technology, and customer service.
Raised on a beef cattle farm in Missouri, Cypret has a lifelong connection to agriculture. He holds degrees from the University of Missouri and New York University’s Stern School of Business, as well as multiple professional certifications in risk management. He also served in the Army Reserves for 13 years. Today, he resides with his family in Central Virginia.
