CoBank Reports Third Quarter 2022 Financial Results
CoBank, ACB has released its third quarter 2022 financial results.
Financial highlights for the third quarter 2022 include:
- Average loan volume increased 11% to $133.0 billion in Q3 2022 from $119.5 billion in Q3 2021.
- Net interest income increased 10% to $447.6 million in Q3 2022 from $407.1 million in Q3 2021.
- Net income increased 11% to $394.9 million in Q3 2022 compared to $354.2 million in Q3 2021 due to higher net interest income and noninterest income somewhat offset by an increase in operating expenses and a lower loan loss reversal.
- Credit quality and financial condition remained strong.