Newsroom & Financials

CoBank Reports First Quarter Financial Results

Posted 05/5/2016

CoBank today announced financial results for the first quarter of 2016.

Net income for the quarter was $243.3 million, a 5 percent increase from $232.2 million in the first quarter of 2015.  The increase in earnings primarily resulted from higher net interest income, partially offset by increased operating expenses.

Net interest income for the quarter rose 7 percent to $336.9 million, from $315.3 million in the same period last year, primarily due to higher average loan volume.

Average loan volume rose 11 percent in the first quarter to $89.8 billion, from $80.6 billion in the same period last year. The increase was driven by higher levels of borrowing from affiliated Farm Credit associations as well as customers in a number of industries, including rural electric cooperatives, rural communications service providers, and food and agribusiness companies. Read more...

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