OMAHA, NEBRASKA – Farm Credit Services of America (FCSAmerica), a customer-owned financial cooperative serving more than 50,000 farmers and ranchers in a four-state area, announced financial results for the second quarter of 2017.
Net income for the first two quarters rose nearly 10 percent to $237.6 million, primarily driven by lower provision for credit losses and increased income from loan growth and non-interest income, partially offset by increased operating expenses.
Loan volume increased $567.1 million, or 2.3 percent, from $25.2 billion at the end of 2016. Members’ equity increased to $4.9 billion from $4.7 billion at yearend. Capital levels for FCSAmerica remained well in excess of regulatory minimums.
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About Farm Credit Services of America
Farm Credit Services of America is proud to finance the growth of rural America, including the special needs of young and beginning producers. With $26.9 billion in assets and $4.9 billion in members’ equity, FCSAmerica is one of the region’s leading providers of credit and insurance services to farmers, ranchers, agribusiness and rural residents in Iowa, Nebraska, South Dakota and Wyoming. Learn more at www.fcsamerica.com.