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 6, 2018 to discuss year-end financial results. The call featured remarks from CoBank President and Chief Executive Officer Tom Halverson, Chief Financial Officer David Burlage and Chairman Kevin Riel. A recording of the webcast can be accessed here.


Recent News

  • Controlled Environment Agriculture Experiencing Rapid Growth

    Posted 05/15/2018

    Technological advancements and consumer demand of fresh, local and year-round supplies of high-quality produce are growing the controlled environment agriculture industry across the U.S., according to a new report from CoBank’s Knowledge Exchange Division.

    CEA, a technology-based approach toward food production to use optimal growing conditions and often indoors, occurs in all 50 states, but the vast majority of the large facilities growing tomatoes, cucumbers and peppers are in the Northeast, West and Southwest.

  • Rapid Growth Of Blockchain Brings Opportunity, Change to Agriculture

    Posted 05/10/2018

    As agribusiness interest increases and use-cases for blockchain technology become more prevalent, agriculture stands to benefit by lower transaction costs, optimized logistics, increased traceability, enhanced food and safety protocols, and potentially greater value creation across the supply chain, according to a report from CoBank’s Knowledge Exchange Division.

  • Citigroup's Eric Itambo Appointed As CoBank Chief Banking Officer

    Posted 05/8/2018

    CoBank, a cooperative bank serving agribusinesses, rural infrastructure providers and Farm Credit associations throughout the United States, today announced that Citigroup’s Eric Itambo has been named as the bank’s new Chief Banking Officer, with responsibility for all lending operations and banking services.


  • CoBank Reports First Quarter Financial Results

    Posted 05/7/2018

    CoBank, a cooperative bank serving agribusinesses, rural infrastructure providers and Farm Credit associations throughout the United States, today announced financial results for the first quarter of 2018.


  • Quarterly Economic Outlook - Trade War Prospects Weigh Heavy On Rural US

    Posted 03/28/2018

    Despite the challenges, there are abundant opportunities for U.S. agriculture this year amid drought in South America and growing export prospects; however, those opportunities are at risk according to the latest Rural Economic Review from CoBank’s Knowledge Exchange Division.

    “Optimism over global economic growth in 2018 remains high, but it is clear that downside risks to growth far outweigh the likelihood of upside surprises,” said Dan Kowalski, vice president of CoBank’s Knowledge Exchange Division. “We are looking at 4 percent global growth, the highest since 2011 - developed countries such as the U.S. are providing the global stimulus needed for that growth - but trade concerns now put that at risk.”

  • Automated Milking Systems Slowing Farm Consolidation

    Posted 03/26/2018

    Various forms of robotic milking are helping sustain small to medium sized dairy farms amid broader industry consolidation and improving labor efficiency for some larger operations according to a new report from CoBank’s Knowledge Exchange Division.

    Dairy robots, also referred to as automated milking systems, take a variety of forms. From “box” style units to robotic components on rotary style milking parlors, they all provide an alternative to traditional dairy labor, which has become more expensive and harder to find in many regions of the U.S.

    “Labor and finance are two of the most important issues when large farms are considering dairy robotics, but when I spoke to smaller-scale producers, the primary drivers of adopting this technology were around quality of life,” said Ben Laine, senior analyst with CoBank. “However, the future growth of this technology and possible broader adoption will be centered on labor costs, milk production per robot, and proximity to dealers and service technicians.”

  • Battery Storage Capacity For Electric Distribution Coops To Take Off In Next Year

    Posted 03/6/2018

    The future is bright for electric distribution cooperatives in battery energy storage according to a new report from CoBank’s Knowledge Exchange Division. The entire battery storage market could grow from $300 million a year to as much as $3 billion by 2020, and electric distribution cooperatives are well positioned to own a share of this growth and move battery technology forward.

    The battery energy storage industry, where growth is dominated by lithium-ion technology, is undergoing significant expansion leading to economies of scale for the manufacturing of cells and battery packs. This translates to lower capital costs for stationary systems which could drop below $300 per kilowatt hour this year. 

    “The landscape for battery storage is rapidly evolving across the U.S.,” said Taylor Gunn, lead industry economist with CoBank. As costs fall, interest in lithium-ion batteries is spreading to electric cooperatives outside Alaska and Hawaii. “After multiple interviews with managers and CEOs of electric distribution cooperatives, we found that there are clearly defined use cases, such as reducing peak demand, that are driving growth in the electric cooperative space.”

  • CoBank Reports Full Year Financial Results for 2017

    Posted 02/22/2018

    CoBank today announced financial results for the full year and fourth quarter of 2017.

    Average loan volume for CoBank increased 5 percent to $96.0 billion, reflecting increased lending across all three of the bank’s operating segments. Net interest income increased 2 percent to $1.393 billion, driven primarily by higher average loan volume. Net income for 2017 rose 19 percent to $1.125 billion due in large part to recently enacted federal tax reform legislation. Excluding the impact of tax reform, net income rose 4 percent to $983.0 million from $945.7 million in 2016, due to the combination of greater net interest income and a lower provision for loan losses.

    “We’re pleased with our financial performance for the year, which reflected solid organic growth in our business as well as an unexpected benefit from the new tax law,” said Thomas Halverson, CoBank’s president and chief executive officer. “Despite ongoing challenges in the financial services industry as well as many of the rural industries we serve, we ended the year in strong financial condition and well-positioned to continue fulfilling our mission in rural America.”

  • International Joint Ventures In Dairy Pick Up Steam

    Posted 02/20/2018

    As the dairy industry evolves and modernizes, dairy companies across the U.S. are looking to capitalize on increasing milk production through international joint ventures with companies that have significant manufacturing, networking and marketing expertise, according to a new report from CoBank’s Knowledge Exchange Division.

    While the U.S. has heavily invested in milk production, Europe and other regions that faced production constraints focused their effort and investment on technology for the processing sector. In 2017, many U.S. dairy companies and international partners collaborated to capitalize on each other’s strengths.

    “The international dairy industry sees the U.S. milk supply as strong and reliable and they see opportunity in the U.S. consumer,” said Ben Laine, industry analyst with CoBank.

  • Trade Shuffle Poses Risk for US Beef Exports

    Posted 01/31/2018

    While the U.S. beef industry is well positioned to capitalize on a growing global middle class and an improving economy, trade uncertainty could hamper the U.S.’s ability to capture market share in the coming years, according to a new report from CoBank’s Knowledge Exchange Division.

    The U.S. beef herd is expanding, bolstered by low input costs, and so is the demand for beef around the world. However, approximately 80 percent of beef exports are sold to countries that could be affected by ongoing trade pact negotiations. Trade deals being negotiated or recently approved include the Trans Pacific Partnership, the North American Free Trade Agreement and the United States-Korea Free Trade Agreement, and are either being renegotiated or the U.S. has dropped out of the agreement altogether.

    “Beef production in the U.S. is on the rise, and export outlets have never been more important,” said Trevor Amen, industry analyst with CoBank’s Knowledge Exchange Division. “However, the U.S. is threatening to retreat from key trade deals and the U.S.’s beef exporting competitors are forging their own deals with major global beef importers.”

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