AMERICAN BANKERS ASSN RELEASES RANKING OF LARGEST AGRICULTURAL BANKS IN THE U.S.
Dec. 17, 2015
Farm Futures magazine reports:
The ag banking sector is a competitive space with a range of top players vying for your business.
Recently the American Bankers Association released two lists - the first is the 100 Largest Farm Banks ranked by dollar volume, which was compiled by the Federal Deposit Insurance Corporation (FDIC) and includes figures through the third quarter of 2013. You'll find the No. 5 company on this first list interesting:
The five largest out of the hot 100 include:
1 - Wells Fargo
2 - Rabobank
3 - Bank of the West
4 - Bank of America
5 - John Deere Financial
You can check out a complete list - here
The group also released a list of the 100 largest farm banks ranked by farm loan concentration. Also compiled by FDIC, the list offers a unique look at loan concentration around the country. The top five on this list include:
1 - Nebraska State Bank, Oshkosh, Neb.
2 - Grant County State Bank, Carson, S.D.
3 - State Bank of Bellingham, Bellingham, Minn.
4 - Campbell County Bank, Herreid, S.D.
5 - Strausburg State Bank, Strausburg, N.D.
You can check out the complete list - here.
Those top five banks ranked as high as 96.57% farm loans (for No. 1), which is a significant piece of business tied to one industry, and shows the level of involvement some banks have in the farm community.
Interestingly the largest banks - in dollar volume - have significantly different loan concentrations.
Wells Fargo, for example, has just 1% of loans in its portfolio focused on agriculture. Meanwhile, John Deere Financial has 78% of its loans listed as farm focused.