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
The Colorado Open Golf Foundation announced today that CoBank will become the new title sponsor of The Colorado Open Championships. CoBank, the largest financial institution headquartered in the state, succeeds HealthONE as the open’s primary sponsor under a five-year agreement beginning in 2016. Read More...
Has the U.S. housing market finally recovered from the subprime crisis? Nationwide, new home prices have recovered to levels that hadn’t been seen since before the recession, but all is not rosy. Home prices are up, but new construction is down. Existing home sales are strong, but inventory is low. Despite the recent runup, prices of existing homes are still slightly below their 2005 peak. Overall, the U.S. housing market is still struggling to find normal, something we haven’t seen since the early 2000s.
CoBank today announced that shareholders have approved board-proposed amendments to the bank’s governance bylaws.
The changes will begin to take effect on January 1, 2016, and include the following:
- Gradually reducing the number of elected directors on the board from 24 to 14 over a four-year transition period concluding in 2020;
- Increasing the maximum number of appointed directors from three to four, in order to provide the board with more flexibility to fill in experience and industry representation gaps. In addition, the board will continue to have two outside directors with no customer or Farm Credit System affiliations; and,
- Modifying director experience requirements to create better balance between board members with agricultural, Farm Credit and rural infrastructure experience.
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.