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Farm Credit Mid-America's Board of Directors has appointed Allen Armstrong to an open director position. Click here for more information.

Farm Credit Mid-America third quarter net income up nearly 12 percent

Farm Credit Mid-America reports third quarter net income increased nearly 12 percent over the similar nine-month period during 2017.

// Company News

Farm Credit Mid-America reports third quarter net income increased nearly 12 percent over the similar nine-month period during 2017, with an overall good agriculture economy with some job growth and modest wage growth.
 
Third-quarter highlights for the financial services cooperative that serves farmers and rural residents in Indiana, Ohio, Kentucky and Tennessee include:
  • Net income reached $274 million, an 11.9 percent increase over the same period – Jan. 1-Sept. 30 – in 2017.
  • Total members’ equity increased $180.7 million from year-end 2017.
  • Total loans were $20.7 billion at Sept. 30, 2018, an increase of $360.3 million from end of year 2017.

“Grain prices moved lower in the third quarter of 2018, further stressing net farm earnings while recent actions involving foreign trade has led to some increased volatility in commodity prices,” said Bill Johnson, president and CEO, Farm Credit Mid-America. “While average to above average yields will help offset some of these price challenges, farmers continue to face a difficult market outlook.
 
“We remain committed to standing alongside and working with our customers to help secure their and the future of rural communities and agriculture.”

The credit quality of Farm Credit’s portfolio remained stable from year-end 2017, as adversely classified loans increased to 4.0 percent of the portfolio vs. 3.9 percent at year-end 2017.

For the complete financial report, click here.

* Loans and leases are subject to credit approval. Additional terms and conditions may apply. Farm Credit Mid-America is an equal opportunity lender.

† Patronage is an annual decision made by the Board of Directors to return earnings to eligible customers. To learn more about patronage or patronage eligibility, please visit our Patronage page.

Farm Credit Mid-America territory includes Arkansas, Indiana, Kentucky, Missouri, Ohio and Tennessee. Arkansas includes Clay, Craighead, Crittenden, Cross, Desha (northeast of the White River), Greene, Lee, Mississippi, Phillips, Poinsett, and St. Francis counties. Missouri includes Carter, Ripley and Wayne counties. Kentucky excludes Ballard, Calloway, Carlisle, Fulton, Graves, Hickman, Marshall and McCracken counties. Ohio excludes Crawford, Hancock, Lucas, Marion, Ottawa, Sandusky, Seneca, Wood and Wyandot counties. We serve all counties in Indiana and Tennessee. 

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