Newsroom & Financials

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 will hold a conference call and webcast on Tuesday, March 7, 2017 to discuss year-end financial results. The call will feature remarks from CoBank Chief Executive Officer Tom Halverson, Chief Financial Officer David Burlage and Board Chairman Everett Dobrinski. To join via the Internet click here to register. To Join via phone dial (866) 843-8302; passcode: 66700900.


Recent News

  • CoBank Reports Full Year Financial Results for 2016

    Posted 2/23/2017

    CoBank today announced financial results for the full year and fourth quarter of 2016.

    Net income for the year rose 1 percent to $945.7 million, reflecting increased net interest income offset by a greater provision for loan losses as well as higher Farm Credit insurance fund premiums and other operating expenses. Net interest income increased by 7 percent to $1.4 billion, as a result of higher loan volume and increased earnings from balance sheet positioning, partially offset by lower spreads in the bank's loan and investment portfolios. CoBank's average loan volume increased 10 percent in 2016, to $91.6 billion, driven by higher levels of borrowing from affiliated Farm Credit associations, grain cooperatives, food and agribusiness companies, rural electric cooperatives and communications service providers.

    For the fourth quarter of 2016, net income was $227.3 million compared to $236.3 million in the same period of 2015. Earnings declined primarily due to a $15 million provision for loan losses taken during the fourth quarter of 2016, which more than offset the positive impacts of higher net interest income. Net interest income for the quarter increased 3 percent to $345.0 million as a result of higher average loan volume. Average loan volume increased 7 percent during the period, to $93.2 billion. Read more...

  • Tom Halverson Appointed Chief Executive Officer Of CoBank

    Posted 1/3/2017

    CoBank announced today that the board of directors has appointed Tom Halverson as chief executive officer of CoBank. Halverson succeeds former CEO Bob Engel, who stepped down on December 31, 2016.

    "We are delighted to have Tom formally in his new role and leading CoBank forward into the next chapter of its history," said Everett Dobrinski, chairman of the CoBank board of directors. "We're pleased to have successfully completed the CEO succession process and remain focused on ensuring the bank continues to fulfill its important mission in rural America."

    Halverson joined CoBank in 2013 and previously served as chief banking officer, with responsibility for all lending operations. Prior to CoBank he spent more than 16 years in a variety of executive positions with Goldman Sachs, including managing director and chief of staff for Goldman Sachs Bank USA, head of credit risk management for Goldman Sachs in Asia (ex-Japan) and executive director of credit risk management and advisory in London. Before joining Goldman Sachs, he served as principal credit officer for country risk at the European Bank for Reconstruction and Development. Halverson holds a bachelor's degree from Wabash College in Indiana and a doctorate in war studies from King's College London. Read more...

  • Bill Davis Appointed As CoBank's Chief Credit Officer

    Posted 12/28/2016

    CoBank today announced  that Bill Davis has been appointed as the bank's new Chief Credit Officer.

    Davis currently serves as Chief Credit Officer for Omaha-based Farm Credit Services of America, one of the largest associations in the Farm Credit System. In addition, Davis is the Chief Credit Officer for Frontier Farm Credit, a CoBank affiliated association based in Kansas that operates under a strategic alliance with FCSAmerica. Combined, FCSAmerica and Frontier have over $27 billion in assets and serve more than 55,000 agricultural producers across five states. Previously, Davis was FCSAmerica's Senior Vice President of Credit and before that Director of Credit Underwriting. Prior to joining FCSAmerica, he held senior credit positions with Farm Credit Services of Western Missouri and the Farm Credit Bank of St. Louis. He began his career as an assistant vice president and branch manager with the Federal Land Bank Association in Missouri. Read more...

  • CoBank Shareholders Approve Bylaw Amendments And Preferred Stock Revolver

    Posted 12/19/2016

    CoBank announced  that shareholders have approved an amendment to the bank’s capitalization bylaws and a preferred stock revolver that provide increased capital flexibility regarding the use of preferred stock.

    Previously, the bank’s capitalization bylaws limited CoBank to $1.5 billion in outstanding preferred stock at any one time. The bylaw amendment and preferred stock revolver, which had been endorsed by the board of directors, increase the cap to $2.5 billion and provide shareholder authorization for the bank to issue preferred stock on an as-needed basis up to the new limit through December 31, 2026.  Any preferred stock issuances would still require approval from CoBank’s board of directors and its independent regulator, the Farm Credit Administration. Read more...

  • Milk Prices Poised for Modest Improvement

    Posted 12/9/2016

    After a few years of significant challenge, the outlook for U.S. milk producers is beginning to improve, according to a new report from CoBank. Despite projected supply increases, milk prices are poised for modest improvement in the years ahead thanks to new export opportunities and gains in processing and production efficiency.

    “We’re seeing dairy farm expansions, meaning producers are hopeful that prices will increase from today’s levels,” says Ben Laine, senior economist at CoBank. “These dairies are banking on the future and on global growth. We believe that there is cause for cautious optimism given prospects for strengthened international demand and the industry’s long track record of innovation.”

    U.S. dairies will produce over 225 billion pounds of milk in 2020 – approximately 7 percent higher than today’s output, according to projections from the U.S. Department of Agriculture. And domestic demand for milk and milk products will remain relatively flat, given the maturity of the U.S. consumer market. Nonetheless, Laine says, the industry is poised to benefit from overseas demand in Asia, Latin America and Africa driven by population growth and increased middle class consumption. Read more...

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