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.
U.S. equity markets continue to demonstrate remarkable strength. Over the past two years, major stock indices have recorded substantial gains: over 30 percent for the Dow Jones Industrial Average, over 40 percent for the S&P 500, and over 50 percent for the NASDAQ. And all three have continued to hit all-time highs in 2015. It has been great news for all sorts of equity investors – from pension funds and other institutions to average Americans with 401(k)s. And the gains have come despite the looming prospect of a rate hike by the Federal Reserve, which most expect will take the some of the air out of stocks by increasing bond yields.
The beekeeping industry’s battle against its leading insect nemesis is set to receive a boost, thanks to a recent $100,000 contribution from two of the state’s largest agricultural lenders. The grant, from CoBank and American AgCredit, will fund research that will provide growers with healthier bees resulting in better pollination and increased crop yields.
CoBank today announced that Brian Goldstein has been named Sector Vice President of the bank’s Project Finance Group.
Goldstein recently served as President of Greenwood Investors, a structured finance-oriented consulting firm. Before forming Greenwood Investors, Goldstein held a variety of positions within BNP Paribas including head of project finance for the Americas and as head of the syndicate desk that supported the project finance, oil and gas, commodity finance and export finance groups. He has also held executive positions with Bank of America Securities, DnC America Banking Corporation and Chase Manhattan Bank.
Over the past several months, U.S. consumers and businesses have been pleasantly surprised by sharply decreasing oil and gasoline prices. Since mid-June, the price of crude oil has declined about 50 percent from over $100 per barrel to about $50 at the beginning of January. To explain why oil and gasoline prices have decreased so rapidly and what we might expect to happen in the coming months and years, OUTLOOK recently sat down with Greg Priddy of the Eurasia Group.
CoBank has announced financial results for the third quarter of 2014. Net income for the quarter increased 8 percent to $224.7 million, from $208.1 million in the third quarter of 2013, largely due to stronger net interest income. For the first nine months of 2014, net income increased 10 percent to $688.9 million, primarily as a result of increased net interest income and improvements in credit quality. The bank recorded a $25.0 million loan loss reversal in the first nine months of 2014, compared to a $20.0 million provision in the same period last year.