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 held a conference call and webcast on Tuesday, March 7, 2017 to discuss year-end financial results. The call featured remarks from CoBank Chief Executive Officer Tom Halverson, Chief Financial Officer David Burlage and Board Chairman Everett Dobrinski. A recording of the webcast can be accessed here.


Recent News

  • CoBank Announces $150,000 Matching Fund to Support Wildfire Relief Efforts in Kansas, Oklahoma and Texas

    Posted 3/16/2017

    CoBank today announced it is launching a $150,000 charitable fund to support wildfire relief efforts throughout the states of Kansas, Oklahoma and Texas.

    Recent fires have impacted farming and ranching communities in all three states, burning hundreds of thousands of acres, destroying property and killing livestock. In Kansas, an estimated 700,000 acres have burned throughout more than 20 counties in the state’s southwest and central regions. In Oklahoma, the Forestry Service has estimated that approximately 400,000 acres have burned and a state of emergency has been declared in 22 counties. An estimated 325,000 acres have burned throughout the Texas panhandle.

    “These wildfires have had a devastating impact,” said Tom Halverson, CoBank’s president and chief executive officer. "CoBank is committed to working hand-in-hand with our customers, other Farm Credit organizations and local relief agencies to support farmers, ranchers and other victims of these fires in impacted communities.” Read more...

  • Citigroup's Timothy Curran Appointed As CoBank Chief Risk Officer

    Posted 3/15/2017

    CoBank today announced that Citigroup's Timothy Curran has been named as the bank's new Chief Risk Officer.

    Curran, 51, currently serves as Head of Risk Management for Citi's Treasury & Trade Solutions business, which provides cash management and trade finance services to multinational corporations, financial institutions and public sector organizations around the world.  Curran previously served as Managing Director / Head of Risk Management for Citi Holdings, which was established in the wake of the 2008-2009 financial crisis to dispose of Citi's distressed and non-core assets. Before that he served in a variety of other executive positons with the company, including senior credit officer for Citi's power, energy, chemicals, mining and metals loan portfolio and as senior market risk officer for commodity trading. Prior to joining Citi in 2003, Curran worked in risk management and other roles for FleetBoston Financial Corp., BankBoston, Cargill and a number of other firms. A graduate of Boston College, Curran is a former U.S. Army Reserve captain and a veteran of the 1991 Gulf War. He also holds a Chartered Financial Analyst designation. Read more...

  • 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...

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