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Provided here are eight tables containing data or selected financial performance indicators for Farm Credit System institutions. The first set of four tables shows year-to-date data for the third quarter (as of Sept. 30). The second set of four tables shows annual data (as of Dec. 31).
Each of the FCS districts consists of a single FCS bank and its affiliated associations; the name of the district corresponds to the name of its bank.
| 9/30/2024 | 9/30/2023 | 9/30/2022 | 9/30/2021 | |
|---|---|---|---|---|
| Cash, Federal funds sold, securities purchased under resale agreements and investments | $ 96,176 | $ 91,632 | $ 89,567 | $ 73,351 |
| Loans | 414,402 | 385,145 | 361,679 | 325,784 |
| Allowance for credit losses on loans | -1,772 | -1,668 | -1,540 | -1,653 |
| Net loans | 412,630 | 383,477 | 360,139 | 324,131 |
| Accrued interest receivable | 5,721 | 4,913 | 3,566 | 2,971 |
| Other property owned | 80 | 26 | 26 | 38 |
| Other assets | 13,188 | 12,702 | 11,354 | 10,098 |
| Total assets | 527,795 | 492,750 | 464,652 | 410,589 |
| Systemwide bonds and medium-term notes | 414,690 | 385,116 | 350,625 | 310,218 |
| Systemwide discount notes | 17,246 | 16,738 | 26,529 | 18,790 |
| Subordinated debt | 398 | 398 | 398 | 398 |
| Other bonds | 6,204 | 7,546 | 7,629 | 3,634 |
| Other liabilities | 10,187 | 10,682 | 10,075 | 8,051 |
| Total liabilities | 448,725 | 420,480 | 395,256 | 341,091 |
| Capital | 79,070 | 72,270 | 69,396 | 69,498 |
Source: Funding Corporation Quarterly Information Statement (Q3, 2024) (PDF)
| 9/30/2024 YTD | 9/30/2023 YTD | 9/30/2022 YTD | 9/30/2021 YTD | |
|---|---|---|---|---|
| Interest income | $22,114 | $19,147 | $ 11,423 | $ 9,346 |
| Interest expense | 13,175 | 10,666 | 3,587 | 2,086 |
| Net interest income | 8,939 | 8,481 | 7,836 | 7,260 |
| (Provision for credit losses) credit loss reversal1 | -350 | -464 | 9 | 142 |
| Noninterest income | 846 | 781 | 636 | 571 |
| Noninterest expense | 3,380 | 3,149 | 2,880 | 2,632 |
| Income before income taxes | 6,055 | 5,649 | 5,601 | 5,341 |
| Provision for income taxes | -148 | -142 | -152 | -140 |
| Net income | 5,907 | 5,507 | 5,449 | 5,201 |
Footnote 1: Prior to 2022, provision for loan losses (loan loss reversal)
Source: Funding Corporation Quarterly Information Statement (Q3, 2024) (PDF)
| 9/30/2024 | 9/30/2023 | 9/30/2022 | 9/30/2021 | |
|---|---|---|---|---|
| Return on average assets 1 | 1.54% | 1.52% | 1.61% | 1.70% |
| Return on average capital 1 | 10.35% | 10.34% | 10.46% | 10.24% |
| Net interest margin 1 | 2.41% | 2.42% | 2.39% | 2.46% |
| Operating expense as a % of net interest income and noninterest income | 34.5% | 34.0% | 34.0% | 33.6% |
| Net loan charge-offs as a % of average loans1 | 0.07% | 0.05% | 0.01% | 0.00% |
| Nonperforming assets 2 as a % of loans and other property owned | 0.79% | 0.53% | 0.51% | 0.55% |
| Allowance for credit losses on loans as a % of loans outstanding | 0.43% | 0.43% | 0.43% | 0.51% |
| Capital-to-assets ratio | 15.0% | 14.7% | 14.9% | 16.9% |
| Capital-to-assets ratio (excluding restricted assets and capital — Insurance Fund) | 13.7% | 13.4% | 13.7% | 15.7% |
| Capital and allowance for credit losses on loans as a % of loans outstanding | 19.5% | 19.2% | 19.6% | 21.8% |
| Debt to capital | 5.68:1 | 5.82:1 | 5.70:1 | 4.91:1 |
Footnote 1: Year-to-date annualized
Footnote 2: Prior to the adoption of CECL on January 1, 2023, nonperforming assets included accruing restructured loans and were presented with accrued interest
Source: Funding Corporation Quarterly Information Statement (Q3, 2024) (PDF)
| AgFirst District | AgriBank District | Texas District | CoBank District | |
|---|---|---|---|---|
| September 30, 2024 | ||||
| Return on average assets 1 | 1.27% | 1.57% | 1.50% | 1.51% |
| Return on average capital 1 | 9.27% | 10.40% | 11.87% | 12.29% |
| Net interest margin 1 | 2.59% | 2.48% | 2.60% | 2.17% |
| Operating expense as a % of net interest income and noninterest income | 51.63% | 35.12% | 41.49% | 32.66% |
| Net loan charge-offs as a % of average loans1 | 0.02% | 0.08% | 0.08% | 0.08% |
| Nonperforming assets as a % of loans and other property owned | 0.44% | 0.92% | 0.37% | 0.80% |
| Allowance for credit losses on loans as a % of loans | 0.36% | 0.25% | 0.33% | 0.64% |
| Capital-to-assets ratio | 13.90% | 15.05% | 12.69% | 12.48% |
| Capital and allowance for credit losses on loans as a % of loans | 17.94% | 18.38% | 15.91% | 16.92% |
| Debt to capital | 6.20 :1 | 5.65 :1 | 6.88 :1 | 7.01 :1 |
| September 30, 2023 | ||||
| Return on average assets 1 | 1.22% | 1.51% | 1.36% | 1.38% |
| Return on average capital 1 | 8.84% | 9.60% | 11.29% | 11.97% |
| Net interest margin 1 | 2.75% | 2.53% | 2.53% | 2.13% |
| Operating expense as a % of net interest income and noninterest income | 51.83% | 37.58% | 43.98% | 34.01% |
| Net loan charge-offs as a % of average loans1 | 0.05% | 0.06% | 0.05% | 0.03% |
| Nonperforming assets as a % of loans and other property owned | 0.50% | 0.59% | 0.52% | 0.45% |
| Allowance for credit losses on loans as a % of loans | 0.44% | 0.23% | 0.34% | 0.65% |
| Capital-to-assets ratio | 13.31% | 15.38% | 12.34% | 11.64% |
| Capital and allowance for credit losses on loans as a % of loans | 17.23% | 18.83% | 15.37% | 15.96% |
| Debt to capital | 6.51:1 | 5.50:1 | 7.10:1 | 7.59:1 |
Footnote 1: Year-to-date annualized
Source: Funding Corporation Quarterly Information Statement (Q3, 2024) (PDF)
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Cash, Federal funds sold and investments | $ 93,487 | $ 89,896 | $ 80,816 | $ 74,210 | $ 68,266 |
| Loans | 398,176 | 373,266 | 343,929 | 315,490 | 286,964 |
| Allowance for credit losses on loans | -1,617 | -1,576 | -1,632 | -1,796 | -1,806 |
| Net loans | 396,559 | 371,690 | 342,297 | 313,694 | 285,158 |
| Accrued interest receivable | 4,726 | 3,572 | 2,560 | 2,585 | 2,864 |
| Other property owned | 58 | 28 | 39 | 37 | 72 |
| Other assets | 13,006 | 11,877 | 10,245 | 10,167 | 8,999 |
| Total assets | 507,836 | 477,063 | 435,957 | 400,693 | 365,359 |
| Systemwide bonds and medium-term notes | 396,409 | 362,624 | 328,552 | 299,145 | 274,540 |
| Systemwide discount notes | 19,124 | 27,353 | 24,271 | 23,510 | 18,998 |
| Subordinated debt | 398 | 398 | 398 | 0 | 0 |
| Other bonds | 6,288 | 5,599 | 3,623 | 2,559 | 1,961 |
| Other liabilities | 12,288 | 12,488 | 9,636 | 9,944 | 8,130 |
| Total liabilities | 434,507 | 408,462 | 366,480 | 335,158 | 303,629 |
| Capital | 73,329 | 68,601 | 69,477 | 65,535 | 61,730 |
Source: Funding Corporation's 2023 Annual Information System (PDF)
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Interest income | $ 26,240 | $ 16,716 | $ 12,541 | $ 13,107 | $ 15,019 |
| Interest expense | 14,807 | 6,174 | 2,777 | 4,061 | 6,753 |
| Net interest income | 11,433 | 10,542 | 9,764 | 9,046 | 8,266 |
| (Provision for credit losses) credit loss reversal | -614 | -40 | 152 | -107 | -169 |
| Noninterest income | 1,209 | 969 | 760 | 758 | 711 |
| Noninterest expense | -4,403 | -4,037 | -3,719 | -3,523 | -3,259 |
| Income before income taxes | 7,625 | 7,434 | 6,957 | 6,174 | 5,549 |
| Provision for income taxes | -180 | -166 | -161 | -172 | -103 |
| Net income | 7,445 | 7,268 | 6,796 | 6,002 | 5,446 |
Source: Funding Corporation's 2023 Annual Information Statement (PDF)
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Return on average assets | 1.53% | 1.59% | 1.66% | 1.57% | 1.54% |
| Return on average capital | 10.41% | 10.45% | 9.94% | 9.26% | 8.91% |
| Net interest margin | 2.43% | 2.39% | 2.46% | 2.46% | 2.42% |
| Operating expense as a % of net interest income and noninterest income | 34.9% | 35.1% | 35.3% | 35.9% | 36.2% |
| Net loan charge-offs as a % of average loans | 0.08% | 0.01% | 0.01% | 0.03% | 0.02% |
| Nonperforming assets as a % of loans and other property owned | 0.45% | 0.47% | 0.46% | 0.60% | 0.82% |
| Allowance for credit losses on loans as a % of loans outstanding at year end | 0.41% | 0.42% | 0.47% | 0.57% | 0.63% |
| Capital-to-assets ratio | 14.4% | 14.4% | 15.9% | 16.4% | 16.9% |
| Capital and allowance for credit losses on loans as a % of loans outstanding | 13.2% | 13.2% | 14.8% | 15.2% | 15.7% |
| Capital and allowance for loan losses as a % of loans outstanding | 18.8% | 18.8% | 20.7% | 21.3% | 22.1% |
| Debt to capital | 5.93:1 | 5.95:1 | 5.27:1 | 5.11:1 | 4.92:1 |
Source: Funding Corporation's 2023 Annual Information Statement (PDF)
| AgFirst District | AgriBank District | Texas District | CoBank District | |
|---|---|---|---|---|
| December 31, 2023 | ||||
| Return on average assets | 1.20% | 1.51% | 1.41% | 1.42% |
| Return on average capital | 8.78% | 9.69% | 11.58% | 12.25% |
| Net interest margin | 2.73% | 2.52% | 2.55% | 2.15% |
| Operating expense as a % of net interest income and noninterest income | 54.01% | 37.86% | 43.57% | 34.47% |
| Net loan charge-offs (recoveries) as a % of average loans | 0.10% | 0.13% | 0.07% | 0.03% |
| Nonperforming assets as a % of loans and other property owned | 0.46% | 0.47% | 0.45% | 0.41% |
| Allowance for credit losses on loans as a % of loans | 0.37% | 0.20% | 0.32% | 0.63% |
| Capital-to-assets ratio | 13.14% | 14.96% | 11.97% | 11.62% |
| Capital and allowance for credit losses on loans as a % of loans | 17.08% | 18.22% | 14.90% | 15.86% |
| Debt to capital | 6.61:1 | 5.68:1 | 7.35:1 | 7.60:1 |
| December 31, 2022 | ||||
| Return on average assets | 1.62% | 1.55% | 1.59% | 1.38% |
| Return on average capital | 10.73% | 9.46% | 12.39% | 11.52% |
| Net interest margin | 2.91% | 2.38% | 2.65% | 2.12% |
| Operating expense as a % of net interest income and noninterest income | 48.06% | 40.46% | 42.70% | 35.73% |
| Net loan charge-offs (recoveries) as a % of average loans | 0.00% | -0.01% | 0.00% | 0.03% |
| Nonperforming assets as a % of loans and other property owned | 0.88% | 0.42% | 0.51% | 0.39% |
| Allowance for credit losses on loans as a % of loans | 0.48% | 0.21% | 0.24% | 0.65% |
| Capital-to-assets ratio | 13.46% | 15.65% | 11.90% | 11.10% |
| Capital and allowance for credit losses on loans as a % of loans | 17.76% | 18.67% | 14.80% | 15.48% |
| Debt to capital | 6.43:1 | 5.39:1 | 7.40:1 | 8.01:1 |
Source: Funding Corporation's 2023 Annual Information Statement (PDF)
