Newsroom & Financials

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 a conference call and webcast on Thursday, March 10, 2016 to discuss year-end financial results. The call featured remarks from CoBank Chief Executive Officer Bob Engel, Chief Financial Officer David Burlage and Board Chairman Everett Dobrinski. A recording of the webcast can be accessed here.

Recent News

  • Farm Supply Co-ops and Other Ag Retailers Face Tighter Margins, Cyclical Challenges

    Posted 8/25/2016

    Accounts receivable at farm supply co-ops and other ag retailers are growing and so are their challenges, according to a new report from CoBank. After an extended run of impressive financial performances, retailers are adjusting to a tougher economic environment accompanying the down-phase of the current ag commodity cycle.

    Current headwinds are directly related to a sharp decline in commodity prices that has reduced farm income and tightened farm cash flows. A downturn in fertilizer prices and a spate of mergers and acquisitions in the seed and fertilizer industry have aligned to create adversity for ag retailers going forward.

    “The drop in farm income over the past three years is the steepest decrease since the Depression,” says Tanner Ehmke, CoBank senior economist covering, the grains, oilseeds and ethanol, and farm supply sectors. “Producer incomes have fallen more than 50 percent from 2013 to today and their debt-to-income ratio is on the rise. Not surprisingly, total accounts receivable for ag retailers posted an 11 percent gain for 2015, and that’s expected to grow in the year ahead due to ongoing farmer cash flow challenges.”

  • CoBank Reports Second Quarter Financial Results

    Posted 8/4/2016

    CoBank today announced financial results for the second quarter and first six months of 2016. Net income for the second quarter increased 5 percent to $243.3 million, compared to $232.3 million in the second quarter of 2015.  For the first six months of 2016, net income was $486.6 million, a 5 percent increase from $464.6 million in the same period last year. The increases in earnings primarily resulted from higher net interest income, partially offset by higher provisions for loan losses, increases in operating expenses and lower overall noninterest income in the 2016 period.

    Net interest income for the second quarter was $345.9 million, a 12 percent increase compared to $309.4 million in the same period last year. For the first six months of the year, net interest income increased 9 percent to $682.8 million, compared to $624.6 million for the first six months of 2015. The increases in net interest income were primarily driven by higher average loan volume and increased earnings on balance sheet positioning, somewhat offset by spread compression in the bank’s loan portfolio due to continued strong competition and a higher cost of short-term debt.

  • U.S. Grain Elevators Facing A Host Of Challenges In New Crop Year

    Posted 5/10/2016

    U.S. grain merchandisers are beginning the new-crop growing season facing significant challenges, according to a new research report by CoBank. Low price volatility, ample grain and oilseed inventories, slow farmer selling and an anemic export program suggest elevators are in for a difficult 2016-2017 season.

    “With no relief immediately in sight, grain merchandisers will undergo further belt-tightening in the year ahead,” said Tanner Ehmke, senior economist with CoBank’s Knowledge Exchange Division. “Most grain elevators have solid balance sheets thanks to multiple years of strong revenues. Nonetheless, pressure for consolidation will likely intensify in an environment of slimmer profit margins.”

    Amid ample inventories in the U.S. and a lackluster export market, the grain and oilseed basis markets continue to remain stagnant, offering limited opportunities for elevators to profit on old-crop basis appreciation. However, grain elevators could still stand to profit by year’s end off the opportunity to buy wider new-crop basis post-harvest, says Ehmke.

  • CoBank Reports First Quarter Financial Results

    Posted 5/5/2016

    CoBank today announced financial results for the first quarter of 2016.

    Net income for the quarter was $243.3 million, a 5 percent increase from $232.2 million in the first quarter of 2015.  The increase in earnings primarily resulted from higher net interest income, partially offset by increased operating expenses.

    Net interest income for the quarter rose 7 percent to $336.9 million, from $315.3 million in the same period last year, primarily due to higher average loan volume.

    Average loan volume rose 11 percent in the first quarter to $89.8 billion, from $80.6 billion in the same period last year. The increase was driven by higher levels of borrowing from affiliated Farm Credit associations as well as customers in a number of industries, including rural electric cooperatives, rural communications service providers, and food and agribusiness companies.

  • CoBank Announces Renewal of Sharing Success Charitable Giving Program For 2016

    Posted 3/17/2016

    CoBank, a cooperative bank serving agribusinesses, rural infrastructure providers and Farm Credit associations throughout the United States, today announced the renewal of its Sharing Success charitable contribution program for 2016. The bank’s board of directors has approved a commitment of $3 million for the program, which will be used to match donations by cooperative and other eligible customers to nonprofit organizations in their communities. 

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