CoBank is a cooperatively organized financial services institution capitalized primarily by eligible borrowers, who earn equity over time commensurate with the amount of business they do with the organization. We are also capitalized by our preferred stockholders.
CoBank does not have publicly traded common stock and is not a registrant with the Securities and Exchange Commission. However, as a regulated member of the Farm Credit System, the bank releases its financial results on a quarterly basis, similar to a public company. Our financial statements are designed to provide customer-owners and other stakeholders with an accurate, transparent view of CoBank’s ongoing financial performance.
For copies of previously issued news releases, financial statements and bank publications, please click on the links at right.
Year-end Earnings Webcast Information:
CoBank held its annual conference call and webcast on Wednesday, March 11. The 60-minute call will featured a presentation of 2014 financial highlights and Q&A with CoBank executives. To watch a recording of the webcast, click HERE
Seven of California’s largest agricultural lenders are once again joining forces to alleviate hunger in drought-stricken farm communities throughout the state. California’s six Farm Credit associations – American AgCredit, Farm Credit Services of Colusa-Glenn, Farm Credit West, Fresno Madera Farm Credit, Golden State Farm Credit and Yosemite Farm Credit – have pledged $50,000 to rural areas hurt by the historic drought, which has idled hundreds of thousands of acres of farmland and left many farm workers unemployed. Denver-based CoBank, which finances agricultural cooperatives and other agribusinesses throughout the country, including in California, has matched that contribution with an additional $50,000.
CoBank today announced financial results for the second quarter and first six months of 2015.
Net income for the second quarter was $232.3 million, compared to $232.9 million in the second quarter of 2014. For the first six months of 2015, net income was $464.6 million, compared to $464.2 million in the same period last year. Those results reflected a $25 million loan loss reversal taken in the second quarter of 2014 and a $10 million provision for loan losses recorded in the first quarter of 2015. The earnings impact of the difference in the provision for loan losses was generally offset by changes in noninterest income. Read more...
The Colorado Open Golf Foundation announced today that CoBank will become the new title sponsor of The Colorado Open Championships. CoBank, the largest financial institution headquartered in the state, succeeds HealthONE as the open’s primary sponsor under a five-year agreement beginning in 2016. Read More...
Has the U.S. housing market finally recovered from the subprime crisis? Nationwide, new home prices have recovered to levels that hadn’t been seen since before the recession, but all is not rosy. Home prices are up, but new construction is down. Existing home sales are strong, but inventory is low. Despite the recent runup, prices of existing homes are still slightly below their 2005 peak. Overall, the U.S. housing market is still struggling to find normal, something we haven’t seen since the early 2000s.
CoBank today announced that shareholders have approved board-proposed amendments to the bank’s governance bylaws.
The changes will begin to take effect on January 1, 2016, and include the following:
- Gradually reducing the number of elected directors on the board from 24 to 14 over a four-year transition period concluding in 2020;
- Increasing the maximum number of appointed directors from three to four, in order to provide the board with more flexibility to fill in experience and industry representation gaps. In addition, the board will continue to have two outside directors with no customer or Farm Credit System affiliations; and,
- Modifying director experience requirements to create better balance between board members with agricultural, Farm Credit and rural infrastructure experience.