CoBank is governed by a 32-person board of directors whose members hail from locations throughout the U.S. and represent diverse industries and professions. Prior to the Jan. 1, 2012, merger with U.S. AgBank, CoBank was governed by a 16-member board but under the governance plan approved by the stockholders of both organizations, the CoBank and U.S. AgBank boards have been temporarily combined for a one-year transition period. In 2013, the size of the combined bank’s board will be reduced to 24 elected directors from six geographical regions, along with a number of appointed directors.