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1ST QUARTER: FARM CREDIT SYSTEM'S NET INCOME UP 4%: $1.7 BILLION
Source: Farm Credit System news release

NEW YORK - The Farm Credit System today reported that combined
net income increased 3.8% to $1.8 billion for the first quarter of 2022, as compared with $1.7 billion for the same
period of the prior year.

"The System reported solid first quarter results, reflecting strong loan growth and a continuous focus on our mission," remarked Tracey McCabe, President and CEO of the Federal Farm Credit Banks Funding Corporation.

"While in the short term, the economy remains healthy, supply chain disruptions, labor shortages, rising interest rates and inflation remain a concern. In addition, the war in Ukraine presents an unprecedented challenge both in terms of its human toll as well as potential economic implications.

"Despite these challenges, the System by virtue of its strong balance sheet and seasoned staff is well positioned to support rural America and agriculture during what we anticipate may be a volatile year ahead."

To read the entire report click here.


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