FCS Major Financial Indicators

Provided here are three tables containing data for selected financial performance indicators for FCS institutions. The first table, FCS Financial Indicators, Quarterly Comparison, reports data over five consecutive quarters for three categories: the banks, the associations, and the System as a whole. The second table, FCS Financial Indicators, Annual Comparison, reports data over five years.

The third table, FCS Financial Indicators by District, allows users to compare financial indicator data across the five FCS districts, each of which contains a single FCS bank. The name of the district corresponds to the name of its bank. This table provides financial indicator data for the FCS bank in each district, combined data for the associations in each district, and totals for the Farm Credit System.

The three tables are also available as PDF files: Quarterly Comparison (51 KB), Annual Comparison (52 KB), District (46 KB).

FCS Financial Indicators, Quarterly Comparison
(Dollars in Thousands)

 At and for the 3 months ended 30-Jun-16 31-Mar-16 31-Dec-15 30-Sep-15 30-Jun-15
Farm Credit System Banks1
 
Total Assets
278,532,464 268,495,874 267,587,575 256,039,212 248,617,837
Gross Loan Volume
215,961,952 210,522,418 208,766,996 200,375,304 194,401,410
Nonaccrual Loans
        190,151 295,274 231,520 229,657 210,389
Cash and Marketable Investments
60,675,477 56,245,306 57,123,019 53,839,933 52,366,262
Net Income
497,487 481,497 484,070 488,230 481,726
Nonperforming Loans/Total Loans2
0.13% 0.16% 0.13% 0.13% 0.13%
Capital/Assets3
6.44% 6.43% 6.28% 6.62% 6.67%
Unallocated Retained Earnings/Assets
3.48% 3.52% 3.45% 3.64% 3.64%
Return on Assets4
0.72% 0.73% 0.74% 0.78% 0.80%
Return on Equity4
11.09% 11.31% 11.47% 11.64% 11.88%
Net Interest Margin5
0.98% 1.00% 0.98% 1.01% 1.04%
Operating Expense Rate6
0.33% 0.33% 0.33% 0.33% 0.33%
Efficiency Ratio7
24.36% 23.89% 25.30% 23.34% 23.51%
FCS Associations
  Total Assets 183,048,189  178,386,422 180,005,335 174,179,683 169,064,197
Gross Loan Volume  173,526,042   169,209,915  169,995,422 164,473,779 159,899,043
Nonaccrual Loans  1,227,043       1,178,810       1,095,206 1,172,065 1,217,058
Net Income 771,605          769,763          927,615 823,413 756,748
Nonperforming Loans/Total Loans2 0.89% 0.88% 0.80% 0.89% 0.95%
Capital/Assets3 18.96% 19.11% 18.68% 19.24% 19.40%
Unallocated Retained Earnings/Assets 17.58% 17.66% 17.33% 17.82% 17.96%
Return on Assets4 1.72% 1.75% 1.84% 1.82% 1.83%
Return on Equity4 8.99% 9.16% 9.57% 9.40% 9.39%
Net Interest Margin5 2.70% 2.74% 2.68% 2.72% 2.78%
Operating Expense Rate6 1.45% 1.47% 1.50% 1.48% 1.50%
Efficiency Ratio7 42.08% 42.49% 41.38% 40.59% 42.22%
Total Farm Credit System8
  Total Assets      315,292,000   304,986,000   303,503,000   291,641,000   283,193,000
Gross Loan Volume      243,886,000   238,439,000   235,890,000   226,844,000   220,535,000
Bonds and Notes      256,454,000   247,139,000   246,214,000   234,744,000   227,963,000
Nonperfoming Loans          1,825,000       1,832,000       1,629,000       1,724,000       1,766,000
Nonaccrual Loans          1,424,000       1,475,000       1,324,000       1,399,000       1,424,000
Net Income          2,337,000       1,157,000       4,688,000       3,481,000       2,273,000
Nonperforming Loans/Gross Loans2 0.75% 0.77% 0.69% 0.76% 0.80%
Capital/Assets3 16.30% 16.41% 16.09% 16.76% 16.87%
Surplus/Assets 13.35% 13.53% 13.33% 13.83% 13.94%
Return on Assets4 1.52% 1.54% 1.62% 1.64% 1.63%
Return on Equity4 9.29% 9.38% 9.75% 9.73% 9.69%
Net Interest Margin5 2.46% 2.48% 2.55% 2.57% 2.55%

Sources: FCA's Consolidated Reporting System as of June 30, 2016, and the Farm Credit System Quarterly Information Statement provided by the Federal Farm Credit Banks Funding Corporation.

1 Includes Farm Credit Banks and the Agricultural Credit Bank.
2 Nonperforming loans are defined as nonaccrual loans, accruing restructured loans, and accrual loans 90 or more days past due.
3 Capital includes restricted capital (amount in Farm Credit Insurance Fund), excludes mandatorily redeemable preferred stock and protected borrower capital.
4 Rates of return are annualized.
5 Net interest margin ratio measures net income produced by interest-earning assets, including the effect of loanable funds, and is a key indicator of loan pricing effectiveness. 
6 Operating expenses divided by average gross loans, annualized.
7 The efficiency ratio measures total noninterest expenses for the preceding 12 months divided by net interest income plus noninterest income for the preceding 12 months.
8 Cannot be derived by adding the above categories because of intradistrict and intra-System eliminations used in Reports to Investors.


FCS Financial Indicators, Annual Comparison
(Dollars in Thousands)

 At and for the 12 months ended 30-Jun-16 30-Jun-15 30-Jun-14 30-Jun-13 30-Jun-12
Farm Credit System Banks1
  Total Assets   278,532,464   248,617,837   234,154,694   219,660,173   210,124,283
Gross Loan Volume   215,961,952   194,401,410   181,456,445   172,480,829   164,128,901
Nonaccrual Loans          190,151          210,389          229,421          373,204          311,488
Cash and Marketable Investments     60,675,477     52,366,262     50,970,640     45,061,679     43,533,239
Net Income          978,984          973,393       1,005,525       1,030,551       1,088,337
Nonperforming Loans/ Total Loans2 0.13% 0.13% 0.15% 0.24% 0.20%
Capital/Assets3 6.44% 6.67% 6.66% 6.74% 6.54%
Unallocated Retained Earnings/Assets 3.48% 3.64% 3.57% 3.50% 3.27%
Return on Assets 0.72% 0.80% 0.87% 0.95% 1.05%
Return on Equity 11.09% 11.88% 13.12% 13.94% 16.07%
Net Interest Margin 0.98% 1.04% 1.09% 1.22% 1.29%
Operating Expense Ratio 0.33% 0.33% 0.32% 0.31% 0.30%
Efficiency Ratio 24.36% 23.51% 21.78% 19.67% 15.78%
Payout Ratio7 N/A N/A N/A N/A N/A
FCS Associations
  Total Assets   184,196,273   169,064,197   157,461,207   149,760,572   139,899,134
Gross Loan Volume   174,613,000   159,899,043   148,214,921   140,157,302   129,947,070
Nonaccrual Loans       1,239,173       1,217,058       1,354,667       1,818,841       2,242,641
Net Income       1,549,629       1,514,617       1,563,901       1,451,519       1,549,183
Nonperforming Loans/Gross Loans2 0.89% 0.95% 1.09% 1.51% 1.89%
Capital/Assets3 18.97% 19.40% 19.33% 18.58% 18.39%
Unallocated Retained Earnings/Assets 17.57% 17.96% 17.82% 17.38% 17.19%
Return on Assets 1.71% 1.83% 2.02% 1.99% 2.27%
Return on Equity 8.98% 9.39% 10.47% 10.65% 12.28%
Net Interest Margin4 2.70% 2.78% 2.85% 2.89% 2.92%
Operating Expense Ratio5 1.45% 1.50% 1.45% 1.45% 1.42%
Efficiency Ratio6 42.13% 42.22% 39.64% 39.16% 34.92%
Payout Ratio7 N/A N/A N/A N/A N/A
Total Farm Credit System8
  Total Assets   315,292,000   283,193,000   266,213,000   248,475,000   236,259,000
Gross Loan Volume   243,886,000   220,535,000   205,054,000   192,784,000   181,519,000
Bonds and Notes   256,454,000   227,963,000   214,649,000   201,109,000   191,991,000
Nonperforming Loans       1,825,000       1,766,000       2,047,000       2,522,000       2,784,000
Nonaccrual Loans       1,424,000       1,424,000       1,574,000       2,183,000       2,550,000
Net Income       2,337,000       2,273,000       2,341,000       2,246,000       3,065,000
Nonperforming Loans/Gross Loans2 0.75% 0.80% 1.00% 1.31% 1.53%
Capital/Assets3 16.30% 16.87% 16.80% 16.33% 15.86%
Surplus/Assets 13.35% 13.94% 13.75% 13.58% 13.08%
Return on Assets 1.52% 1.63% 1.78% 1.83% 1.76%
Return on Equity 9.29% 9.69% 10.68% 11.29% 11.17%
Net Interest Margin4 2.46% 2.55% 2.65% 2.75% 2.86%

Sources: FCA's Consolidated Reporting System as of June 30, 2016, and the Farm Credit System Quarterly Information Statement provided by the Federal Farm Credit Banks Funding Corporation.

1 Includes Farm Credit Banks and the Agricultural Credit Bank.
2 Nonperforming loans are defined as nonaccrual loans, accruing restructured loans, and accrual loans 90 or more days past due.
3 Capital includes restricted capital (amount in Farm Credit Insurance Fund), excludes mandatorily redeemable preferred stock and protected borrower capital.
4 Net interest margin ratio measures net income produced by interest-earning assets, including the effect of loanable funds, and is a key indicator of loan pricing effectiveness.
5 Operating expenses divided by average gross loans.
6 The efficiency ratio measures total noninterest expenses for the preceding 12 months divided by net interest income plus noninterest income for the preceding 12 months.
7 The percentage of earnings paid out in dividends to shareholders. This ratio is only valid at December 31.
8 Cannot be derived through summation of above categories because of intradistrict and intra-System eliminations used in Reports to Investors.


FCS Financial Indicators by District, March 31, 2016
(Dollars in Thousands)

  Total
Assets
Gross Loan Volume Nonaccrual Loans Allowance for Loan Losses Cash and Marketable Investments1 Capital Stock2

Surplus3

Total Capital4 Operating Expense Ratio5
FCS Banks
AgFirst   31,616,142      22,534,307         18,868     17,524 8,803,275 428,211 1,875,625   2,373,533 0.57%
AgriBank 100,960,468     84,496,407          51,648      20,474   15,920,744 2,362,355 3,050,462  5,266,600 0.15%
CoBank 124,680,271  93,197,029   115,407  525,090 30,609,975 4,428,129 3,998,668 8,647,743 0.40%
Texas 21,275,583        15,734,209    4,228    7,482 5,341,483 855,823 783,424 1,652,088 0.59%
Total 278,532,464   215,961,952 190,151   570,570 60,675,477 8,074,518   9,708,179 17,939,964 0.33%
FCS Associations 
AgFirst 20,289,953        19,521,060   211,288 165,927 127,515 222,553 4,003,341 4,197,083 2.05%
AgriBank 95,137,505    89,469,084    596,801 346,072 1,830,877 341,068 17,001,938 17,343,006 1.33%
CoBank 51,478,507  48,880,644  295,722 280,167 212,065 1,681,444 8,909,724 10,501,155 1.42%
Texas 17,290,308      16,742,212        135,362   69,190    31,698 286,874 2,621,696 2,904,646 1.48%
Total 184,196,273 174,613,000 1,239,173 861,356 2,202,155 2,531,939 32,536,699 34,945,890 1.45%
Total Farm Credit System6 315,292,000 243,886,000 1,424,000 1,433,000 62,778,000 1,749,000 42,107,000 51,401,000  

Sources: FCA's Consolidated Reporting System as of June 30, 2016, and the Farm Credit System Quarterly Information Statement provided by the Federal Farm Credit Banks Funding Corporation.

1 Includes accrued interest receivable on marketable investments.
2 Includes capital stock and participation certificates, excludes mandatorily redeemable preferred stock and protected borrower capital.
3 Includes allocated and unallocated surplus.
4 Includes capital stock, participation certificates, perpetual preferred stock, surplus, and accumulated other comprehensive income. For the total Farm Credit System amount, total capital also includes $4.234 billion of restricted capital, which is the amount in the Farm Credit Insurance Fund. Excludes mandatorily redeemable preferred stock and protected borrower capital.
5 Operating expense per $100 of gross loans.
6 Cannot be derived by adding the categories above because of intradistrict and intra-System eliminations used in Reports to Investors.