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 (31 KB), Annual Comparison (37 KB), District (32 KB).

FCS Financial Indicators, Quarterly Comparison
(Dollars in Thousands)

 At and for the 3 months ended 31-Mar-17 31-Dec-16 30-Sep-16 30-Jun-16 31-Mar-16
Farm Credit System Banks1
 
Total Assets
281,557,605 281,973,917 276,743,793 278,532,464 268,495,874
Gross Loan Volume
   220,657,920 220,160,768 213,870,566 215,961,952 210,522,418
Nonaccrual Loans
262,223 292,938 235,833 190,151 295,274
Cash and Marketable Investments
   59,532,555    60,131,933     60,991,959     60,675,477     56,245,306
Net Income
522,053 519,099 518,027 497,487 481,497
Nonperforming Loans/Total Loans2
0.13% 0.16% 0.15% 0.13% 0.16%
Capital/Assets3
6.47% 6.35% 6.55% 6.44% 6.43%
Unallocated Retained Earnings/Assets
0.00% 3.48% 3.59% 3.48% 3.52%
Return on Assets4
0.75% 0.73% 0.72% 0.72% 0.73%
Return on Equity4
11.69% 11.13% 11.07% 11.09% 11.31%
Net Interest Margin5
0.98% 0.98% 0.97% 0.98% 1.00%
Operating Expense Rate6
0.33% 0.34% 0.33% 0.33% 0.33%
Efficiency Ratio7
24.02% 25.37% 24.82% 24.36% 23.89%
FCS Associations
  Total Assets 188,180,651 189,933,814 186,521,343 184,196,271 179,530,406
Gross Loan Volume 178,551,492 179,322,967 176,322,614 174,613,000 170,296,338
Nonaccrual Loans 1,366,803 1,305,496 1,342,915 1,239,173 1,184,108
Net Income 849,705 992,537 841,134 775,858 773,771
Nonperforming Loans/Total Loans2 0.97% 0.90% 0.95% 0.90% 0.88%
Capital/Assets3 19.43% 18.84% 19.14% 18.97% 19.12%
Unallocated Retained Earnings/Assets 0.00% 17.50% 17.71% 17.57% 17.65%
Return on Assets4 1.83% 1.81% 1.73% 1.71% 1.75%
Return on Equity4 9.51% 9.36% 9.01% 8.98% 9.14%
Net Interest Margin5 2.73% 2.66% 2.67% 2.70% 2.74%
Operating Expense Rate6 1.45% 1.47% 1.45% 1.45% 1.47%
Efficiency Ratio7 41.92% 40.49% 41.92% 42.13% 42.55%
Total Farm Credit System8
  Total Assets 320,127,000 319,915,000 314,361,000 315,292,000 304,986,000
Gross Loan Volume 250,234,000 248,768,000 242,124,000 243,886,000 238,439,000
Bonds and Notes 260,648,000 260,213,000 255,261,000 256,454,000 247,139,000
Nonperfoming Loans 2,023,000 1,962,000 1,975,000 1,825,000 1,832,000
Nonaccrual Loans 1,623,000 1,591,000 1,573,000 1,424,000 1,475,000
Net Income 1,244,000 4,848,000 3,589,000 2,337,000 1,157,000
Nonperforming Loans/Gross Loans2 0.81% 0.79% 0.82% 0.75% 0.77%
Capital/Assets3 16.69% 16.35% 16.67% 16.30% 16.41%
Surplus/Assets 13.52% 13.50% 13.67% 13.35% 13.53%
Return on Assets4 1.58% 1.55% 1.54% 1.52% 1.54%
Return on Equity4 9.44% 9.41% 9.36% 9.29% 9.38%
Net Interest Margin5 2.43% 2.49% 2.47% 2.46% 2.48%

Sources: FCA's Consolidated Reporting System as of March 31, 2017, 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 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Farm Credit System Banks1
  Total Assets 281,557,605 268,495,874 244,693,710 232,339,245 219,113,750
Gross Loan Volume 220,657,920 210,522,418 190,164,936 181,329,684 171,734,078
Nonaccrual Loans 262,223 295,274 225,292 268,826 425,734
Cash and Marketable Investments 59,532,555 56,245,306 52,862,617 49,282,909 45,364,858
Net Income 522,053 481,497 491,667 495,647 523,795
Nonperforming Loans/ Total Loans2 0.13% 0.16% 0.14% 0.18% 0.27%
Capital/Assets3 6.47% 6.43% 6.67% 6.55% 6.67%
Unallocated Retained Earnings/Assets 0.00% 3.52% 3.60% 3.48% 3.38%
Return on Assets 0.75% 0.73% 0.81% 0.87% 0.97%
Return on Equity 11.69% 11.31% 12.28% 13.09% 14.66%
Net Interest Margin 0.98% 1.00% 1.06% 1.10% 1.27%
Operating Expense Ratio 0.33% 0.33% 0.33% 0.31% 0.31%
Efficiency Ratio 24.02% 23.89% 21.74% 20.58% 18.06%
Payout Ratio7 N/A N/A N/A N/A N/A
FCS Associations
  Total Assets 188,180,651 179,530,406 164,223,600 154,489,023 145,358,769
Gross Loan Volume 178,551,492 170,296,338 155,357,378 145,487,917 136,020,461
Nonaccrual Loans 1,366,803 1,184,108 1,179,273 1,439,118 1,974,715
Net Income 849,705 773,771 757,869 768,691 725,751
Nonperforming Loans/Gross Loans2 0.97% 0.88% 0.97% 1.20% 1.66%
Capital/Assets3 19.43% 19.12% 19.57% 19.27% 18.64%
Unallocated Retained Earnings/Assets 0.00% 17.65% 18.08% 17.75% 17.46%
Return on Assets 1.83% 1.75% 1.88% 2.02% 2.02%
Return on Equity 9.51% 9.14% 9.65% 10.58% 10.97%
Net Interest Margin4 2.73% 2.74% 2.84% 2.87% 2.93%
Operating Expense Ratio5 1.45% 1.47% 1.54% 1.48% 1.47%
Efficiency Ratio6 41.92% 42.55% 43.06% 40.85% 39.90%
Payout Ratio7 N/A N/A N/A N/A N/A
Total Farm Credit System8
  Total Assets 320,127,000 304,986,000 278,969,000 263,842,000 247,505,000
Gross Loan Volume 250,234,000 238,439,000 216,163,000 204,563,000 191,797,000
Bonds and Notes 260,648,000 247,139,000 224,668,000 213,498,000 200,667,000
Nonperforming Loans 2,023,000 1,832,000 1,771,000 2,068,000 2,711,000
Nonaccrual Loans 1,623,000 1,475,000 1,408,000 1,711,000 2,392,000
Net Income 1,244,000 1,157,000 1,132,000 1,145,000 1,142,000
Nonperforming Loans/Gross Loans2 0.81% 0.77% 0.82% 1.01% 1.41%
Capital/Assets3 16.69% 16.41% 16.79% 16.55% 16.02%
Surplus/Assets 13.52% 13.53% 13.84% 13.51% 13.28%
Return on Assets 1.58% 1.54% 1.65% 1.76% 1.87%
Return on Equity 9.44% 9.38% 9.80% 10.63% 11.68%
Net Interest Margin4 2.43% 2.48% 2.57% 2.63% 2.83%

Sources: FCA's Consolidated Reporting System as of March 31, 2017, 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, 2017
(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 31,046,688 22,349,591 17,846  15,400 8,429,547 303,025 N/A 2,304,785 0.55%
AgriBank 100,971,437 85,054,721 53,283 22,676 15,418,809 2,197,620 N/A 5,553,233 0.15%
CoBank 127,766,726 96,920,904 188,253 580,740 30,493,440 3,076,007 N/A 8,687,934 0.38%
Texas 21,772,754 16,332,704 2,841 8,394 5,190,759 284,038 N/A 1,661,244 0.60%
Total 281,557,605 220,657,920 262,223 627,210 59,532,555 5,860,690 N/A 18,207,196 0.33%
FCS Associations 
AgFirst 20,692,084 20,010,150 220,805 168,995 95,513 193,563 N/A 4,320,579 1.97%
AgriBank 96,790,278 90,997,447 693,960 383,414 2,058,223 248,712 N/A 18,314,301 1.33%
CoBank 52,896,729 50,305,307 322,589 289,632 174,460 67,720 N/A 10,931,940 1.43%
Texas 17,801,560 17,238,588 129,449 73,606 30,217 63,581 N/A 2,989,475 1.53%
Total 188,180,651 178,551,492 1,366,803 915,647 2,358,413 573,576 N/A 36,556,295 1.45%
Total Farm Credit System6 320,127,000 250,234,000 1,623,000 1,543,000 61,775,000 1,798,000 43,295,000 53,431,000  

Sources: FCA's Consolidated Reporting System as of March 31, 2017, 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.
3Total surplus data is no longer collected following the implementation of the capital rule.
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 $4.553 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.