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
CoBank today announced financial results for the first quarter of 2015. Net income for the quarter was $232.2 million, compared to $231.3 million in the first quarter of 2014. A $10.0 million provision for loan losses recorded in the first quarter of 2015 largely offset the positive impacts of higher net interest income as well as increased prepayment income. The provision primarily reflected an increase in average loan volume. No provision was taken during the first quarter of 2014.
Businesses across the United States have had to scramble over the past couple of years to keep up with changes in health care legislation. Obamacare survived a challenge in the U.S. Supreme Court in 2012, and today, millions of Americans receive coverage through government-run exchanges. But now it is before the Court again – this time over the legality of subsidies that the law depends on to be economically viable. For a detailed perspective on the latest case, OUTLOOK turned to health care policy expert Robert Graboyes, a scholar at the Mercatus Center at George Mason University in Arlington, Virginia.
The agricultural markets are experiencing rippling effects from lower price environments amid mounting inventories, plunging oil and gas prices and a strong U.S. dollar, according to the new Quarterly Industry Review from CoBank. The report provides insights and projections for agribusiness, energy, water and communications industries.
CoBank today announced the renewal of its “Sharing Success” charitable contribution program for 2015. 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. The bank will match donations on a dollar-for-dollar basis, from a minimum of $1,000 up to a maximum of $5,000 per customer.
CoBank today announced financial results for the full year and fourth quarter of 2014. CoBank reported net income of $904.3 million for the year, up 6 percent from $856.5 million in 2013. The increase was driven primarily by higher net interest income. Net interest income increased 6 percent to $1.2 billion, driven by higher average loan volume as well as increased earnings from the bank’s balance sheet positioning. Average loan volume rose 7 percent to $76.6 billion.