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Farm Credit Mid-America reports first quarter earnings

Despite a continued down economy, Farm Credit Mid-America reported a stable performance in the first quarter this year.  The cooperative reports net income reached nearly $85 million, an increase of $4.75 million from year-end 2016; total members’ equity increased to $73.6 million; and total loan volume is down more than $230 million to just over $20 billion.  However, the credit quality of its portfolio did decline slightly and adversely classified loans increased to just under 4 percent.

Bill Johnson, president and CEO says they attribute the decrease in total loan amounts to expected seasonal repayments on production and intermediate-term loans. The increases in adversely classified loans was expected as many ag producers continue to face tight or negative margins. He says the association will continue to adapt as the ag and financial markets evolve.

Farm Credit Mid-America serves Indiana, Ohio, Kentucky, and Tennessee.

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