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 that Richard “Dickie” Sitman has been re-elected to the bank’s board of directors in a runoff election in the South region. Sitman will hold a one stockholder, one vote seat for a four-year term beginning in 2016.
Sitman, 62, is the president of the board for Dixie Electric Membership Corporation, an electric cooperative in Baton Rouge, Louisiana. He served as a CoBank director in 1995-1996 and rejoined the board in 1999. The retired owner of a retail enterprise, he also sits on the board of the Farm Credit Council, Dixie Business Center, the Louisiana Council of Farmer Co-ops and the Zachary Taylor Parkway Association. Read more...
CoBank today announced results of its 2015 stockholder election.
A total of six director positions were on the ballot. Stockholders elected five candidates, including two incumbents and three new board members. In the South Region, no candidate received a majority of votes cast for the open one-stockholder-one-vote board seat. Pursuant to the bank’s governance bylaws, a runoff election will be held between the two top vote-getters, concluding on November 24, 2015. Read more...
CoBank today announced financial results for the third quarter and first nine months of 2015.
Net income for the third quarter increased 5 percent to $235.8 million, compared to $224.7 million in the third quarter of 2014. For the first nine months of 2015, net income increased 2 percent, to $700.4 million. Key drivers of increased profitability for both the quarter and year-to-date periods included higher net interest income as well as an increasein prepayment income net of losses on early extinguishments of debt. Year-to-date 2015 net income also reflected a $10.0 million provision for loan losses that was recorded in the first quarter of 2015, compared to a $25.0 million loan loss reversal during the second quarter of 2014, and a greater level of gains on the sale of investments securities. Read more...
Farm income in the United States will continue to be challenged by a confluence of global economic factors – mounting supplies of grain and oilseeds, the U.S. dollar’s continued strength and slowing growth in China – through the remainder of 2015 and into 2016, according to the new Quarterly Rural Economic Review from CoBank. With inventories growing, crop prices should stay near their current levels well into 2016, according to the report.
CoBank has been named to Global Finance magazine’s list of the world’s safest banks for a fifth consecutive year. Global Finance, which covers the financial services industry, publishes the “World’s 50 Safest Banks” list annually. Banks are ranked using a methodology that includes total assets and an evaluation of long-term ratings from major rating agencies. CoBank was first named to the list in 2011.