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.
CoBank today announced financial results for the second quarter of 2014. Net income for the quarter increased 10 percent to $232.9 million, from $212.0 million in the same period last year. For the first six months of 2014, net income also increased 10 percent to $464.2 million.
Through quantitative easing, the U.S. Federal Reserve has more than quadrupled the size of its balance sheet and critics fear that the risk of inflation has grown too high. In the latest edition of OUTLOOK, economist Peter Morici argues the Fed needs to take steps soon to make sure inflation doesn’t gain a foothold in the economy.
CoBank, announced today that it has joined with the U.S. Department of Agriculture in the formation of a new public-private partnership focused on infrastructure investment in rural America. The new “U.S. Rural Infrastructure Opportunity Fund” will serve as a source of private-sector capital to partner with USDA on wide variety of infrastructure projects in rural communities. CoBank will act as anchor investor and has committed $10 billion of balance sheet capacity to co-lend with the fund.
By many measures, the U.S. job market is trending in the right direction. Unemployment, while still at a historically high level of 6.3 percent, has declined by more than 1.5 percentage points over the past year and a half. And the economy has been generating an average of 214,000 new jobs per month since the beginning of 2014 - more than 10 percent higher than last year's average.
CoBank, a cooperative bank serving agribusinesses, rural infrastructure providers and Farm Credit associations throughout the United States, has announced that Miranda Stokes has been named Regional Vice President, Electric Distribution.