Newsroom & Financials

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.” Read More...

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