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1ST QUARTER: FARM CREDIT SYSTEM REPORTS LOAN VOLUME UP 2%, NET INCOME UP 18%
May 4, 2021
Farm Credit System reports:
To view the complete report, click here.
New York - The Farm Credit System today reported that combined net income increased 18.2% to $1.7 billion for the first quarter of 2021, as compared with $1.4 billion for the same period of the prior year.
"The strong quarterly earnings are reflective of the current favorable agricultural economy and an improving economic outlook for the overall U.S. economy," remarked Tracey McCabe, President and CEO of the Federal Farm Credit Banks Funding Corporation. "Our credit quality and capital levels have remained strong, while we continue to respond to the credit needs of our borrowers."
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