Newsroom & Financials

CoBank Reports 2017 First Quarter Financial Results

Posted 05/4/2017

CoBank today announced financial results for the first quarter of 2017. Net income for the quarter rose 8 percent to $262.8 million, primarily driven by higher net interest income and noninterest income, partially offset by a higher provision for loan losses and increased operating expenses. Net interest income for the quarter increased 6 percent to $356.1 million, from $336.9 million in the same period last year, primarily due to higher average loan volume.

Average loan volume rose 9 percent in the first quarter to $97.9 billion, from $89.8 billion in the same period last year. The increase resulted from higher levels of borrowing from customers in all three of the bank’s operating segments, including farmer-owned cooperatives, agricultural export finance customers, other food and agribusiness companies, affiliated Farm Credit associations, and rural electric cooperatives. Read more...

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