Newsroom & Financials

CoBank Reports Second Quarter Financial Results

Posted 8/1/2014

CoBank today announced financial results for the second quarter of 2014.

Net income for the quarter increased 10 percent to $232.9 million, from $212.0 million in the same period last year. For the first six months of 2014, net income also increased 10 percent to $464.2 million. The improvement in profitability resulted primarily from increased net interest income as well as a $25 million loan loss reversal, compared to a $20 million provision for loan losses in the first six months of last year. The reversal resulted from a lower level of reserves needed for specific loans as well as general improvement in the credit quality of the bank’s loan portfolio.

Net interest income for the quarter rose 5 percent to $311.4 million, compared to $296.7 million in the same period last year. For the first six months of 2014, net interest income increased 4 percent to $620.3 million. The increases were driven primarily by higher loan volume as well as improved earnings from the bank’s balance sheet positioning. Read more...

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