CoBank reports 2022 year-end financial results
DENVER (February 22, 2023) – CoBank, ACB has released its year-end 2022 financial results. The news release is available on CoBank.com under Corporate → Financial Information.
Financial highlights for the year 2022 include:
- Average loan volume increased 11% to a record $136.9 billion in 2022, from $123.3 billion in 2021.
- Net income increased 10% to a record $1.449 billion in 2022, up from $1.314 billion in 2021.
- Credit quality and capital levels remained strong.
- Patronage distributions for the year will total a record $996 million.
The bank will hold its annual year-end earnings webcast at 1:30 p.m. Mountain Time on Tuesday, February 28, 2023. To join the earnings webcast, go to https://www.cobank.com/2022earningswebcast.
About CoBank
CoBank is a 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 76,000 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.