CoBank Reports First Quarter 2021 Financial Results
CoBank, ACB has released its first quarter 2021 financial results. Financial highlights for first quarter 2021 include:
- Average loan volume for the quarter rose 14% in 2021 to $125.9 billion, up from $110.1 billion in 1Q20
- Net income rose 10% to $324.0 million in the first quarter 2021, up from $294.1 million in 1Q20
- Overall loan quality measures remained strong
CoBank is a $160 billion cooperative bank serving vital industries across rural America. The bank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states. The bank also provides wholesale loans and other financial services to affiliated Farm Credit associations serving more than 75,000 farmers, ranchers and other rural borrowers in 23 states around the country.
CoBank is a member of the Farm Credit System, a nationwide network of banks and retail lending associations chartered to support the borrowing needs of U.S. agriculture, rural infrastructure and rural communities. Headquartered outside Denver, Colorado, CoBank serves customers from regional banking centers across the U.S. and also maintains an international representative office in Singapore.