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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 (43 KB), Annual Comparison (43 KB), District (39 KB).
We always welcome input on how best to present these data. For questions or comments, contact John Moore by e-mail, moorej@fca.gov, or by phone, 703-883-4401.
FCS Financial Indicators, Quarterly Comparison
(Dollars in Thousands)
| |
30-Jun-10 |
31-Mar-10 |
31-Dec-09 |
30-Sep-09 |
30-Jun-09 |
| Farm Credit System Banks1 |
| |
Gross Loan Volume |
148,507,927 |
149,193,153 |
152,412,187 |
149,969,143 |
151,242,071 |
| Accruing Restructured Loans2 |
4,033 |
4,347 |
4,651 |
4,486 |
4,132 |
| Accrual Loans 90 or More Days Past Due |
21,706 |
21,224 |
28,816 |
20,558 |
20,211 |
| Nonaccrual Loans |
726,547 |
792,799 |
759,134 |
1,069,924 |
745,487 |
| Nonperforming Loans/Total Loans3 |
0.51% |
0.55% |
0.52% |
0.73% |
0.51% |
| Cash and Marketable Investments |
42,932,440 |
39,764,426 |
39,305,172 |
41,543,580 |
41,804,049 |
| Capital/Assets4 |
6.03% |
5.88% |
5.59% |
5.49% |
5.26% |
| Unallocated Retained Earnings/Assets |
3.11% |
3.01% |
2.80% |
2.82% |
2.70% |
| Net Income |
462,610 |
492,469 |
408,955 |
330,958 |
365,129 |
| Return on Assets5 |
1.00% |
1.03% |
0.74% |
0.71% |
0.73% |
| Return on Equity5 |
16.68% |
17.90% |
13.13% |
13.06% |
13.95% |
| Net Interest Margin |
1.25% |
1.26% |
1.17% |
1.15% |
1.16% |
| Operating Expense Rate6 |
0.31% |
0.35% |
0.33% |
0.32% |
0.32% |
| FCS Associations |
| |
Gross Loan Volume |
118,150,235 |
116,820,813 |
118,575,715 |
117,659,289 |
116,363,739 |
| Accruing Restructured Loans |
71,773 |
58,467 |
58,926 |
31,597 |
24,851 |
| Accrual Loans 90 or More Days Past Due |
128,810 |
110,805 |
68,508 |
104,554 |
131,678 |
| Nonaccrual Loans |
2,797,066 |
2,739,261 |
2,634,046 |
3,092,565 |
2,337,315 |
| Nonperforming Loans/Gross Loans3 |
2.54% |
2.49% |
2.33% |
2.74% |
2.14% |
| Capital/Assets7 |
16.82% |
16.61% |
15.82% |
15.76% |
15.65% |
| Unallocated Retained Earnings/Assets |
15.36% |
15.13% |
14.56% |
14.89% |
14.78% |
| Net Income |
569,762 |
606,249 |
530,622 |
411,152 |
342,718 |
| Return on Assets5 |
1.87% |
1.95% |
1.29% |
1.15% |
1.10% |
| Return on Equity5 |
11.16% |
11.89% |
8.13% |
6.98% |
6.94% |
| Net Interest Margin |
2.82% |
2.83% |
2.64% |
2.59% |
2.59% |
| Operating Expense Rate6 |
1.35% |
1.40% |
1.46% |
1.44% |
1.45% |
| Total Farm Credit System8 |
| |
Gross Loan Volume |
162,186,000 |
162,502,000 |
164,830,000 |
162,186,000 |
163,228,000 |
| Nonperfoming Loans |
3,750,000 |
3,716,000 |
3,535,000 |
4,299,000 |
3,252,000 |
| Nonaccrual Loans |
3,523,000 |
3,517,000 |
3,369,000 |
4,132,000 |
3,077,000 |
| Nonperforming Loans/Gross Loans3 |
2.31% |
2.29% |
2.14% |
2.65% |
1.99% |
| Bonds and Notes |
177,781,000 |
175,372,000 |
178,358,000 |
178,473,000 |
181,275,000 |
| Capital/Assets9 |
14.68% |
14.46% |
13.90% |
13.61% |
13.20% |
| Surplus/Assets |
12.08% |
11.92% |
11.48% |
11.40% |
11.12% |
| Net Income |
882,000 |
802,000 |
832,000 |
721,000 |
682,000 |
| Return on Assets5 |
1.58% |
1.53% |
1.32% |
1.25% |
1.21% |
| Return on Equity5 |
10.85% |
10.55% |
9.86% |
9.45% |
9.28% |
| Net Interest Margin |
2.78% |
2.77% |
2.65% |
2.59% |
2.56% |
Sources: Farm Credit System Call Report as of June 30, 2010, and the Farm Credit System Quarterly Information Statements provided by the Federal Farm Credit Banks Funding Corporation.
Note: Changes to data in previous periods occasionally occur for accounting reasons.
1. Includes Farm Credit Banks and the Agricultural Credit Bank.
2. Excludes loans 90 days or more past due.
3. Nonperforming loans are defined as nonaccrual loans, accruing restructured loans, and accrual loans 90 days or more past due.
4. Capital excludes mandatorily redeemable preferred stock.
5. Income ratios are annualized.
6. Operating expenses divided by average gross loans, annualized.
7. Capital excludes protected borrower capital.
8. Cannot be derived through summation of above categories because of intradistrict and intra-System eliminations used in Reports to Investors.
9. Capital includes restricted capital (amount in Farm Credit Insurance Fund), excludes mandatorily redeemable preferred stock and protected borrower capital. |
FCS Financial Indicators, Annual Comparison
(Dollars in Thousands)
| |
31-Dec-09 |
31-Dec-08 |
31-Dec-07 |
31-Dec-06 |
31-Dec-05 |
| Farm Credit System Banks1 |
| |
Gross Loan Volume |
152,412,187 |
149,491,137 |
131,191,826 |
112,260,474 |
94,865,873 |
| Accruing Restructured Loans2 |
4,651 |
5,125 |
4,301 |
5,378 |
6,131 |
| Accrual Loans 90 or More Days Past Due |
28,816 |
21,594 |
12,917 |
5,439 |
1,322 |
| Nonaccrual Loans |
759,134 |
582,160 |
46,069 |
107,556 |
152,223 |
| Nonperforming Loans/Total Loans3 |
0.52% |
0.41% |
0.05% |
0.11% |
0.17% |
| Cash and Marketable Investments |
39,305,172 |
41,358,881 |
34,408,807 |
31,680,712 |
27,788,225 |
| Capital/Assets4 |
5.59% |
4.89% |
5.43% |
5.65% |
6.20% |
| Unallocated Retained Earnings/Assets |
2.80% |
2.50% |
2.69% |
2.95% |
3.28% |
| Net Income |
1,442,328 |
1,231,430 |
981,688 |
845,191 |
740,785 |
| Return on Assets5 |
0.74% |
0.65% |
0.60% |
0.60% |
0.61% |
| Return on Equity5 |
13.13% |
12.44% |
10.59% |
10.24% |
9.48% |
| Net Interest Margin |
1.17% |
0.97% |
0.83% |
0.80% |
0.84% |
| Operating Expense Rate6 |
0.33% |
0.31% |
0.30% |
0.33% |
0.33% |
| FCS Associations |
| |
Gross Loan Volume |
118,575,715 |
114,026,889 |
105,620,488 |
93,413,704 |
83,253,781 |
| Accruing Restructured Loans |
58,926 |
30,381 |
47,212 |
51,384 |
53,885 |
| Accrual Loans 90 or More Days Past Due |
68,508 |
68,856 |
43,840 |
19,504 |
13,156 |
| Nonaccrual Loans |
2,631,604 |
1,706,613 |
465,414 |
425,545 |
371,703 |
| Nonperforming Loans/Gross Loans3 |
2.33% |
1.58% |
0.53% |
0.53% |
0.53% |
| Capital/Assets7 |
15.82% |
15.46% |
15.57% |
16.27% |
17.19% |
| Unallocated Retained Earnings/Assets |
14.56% |
13.51% |
13.58% |
13.89% |
14.79% |
| Net Income |
1,589,151 |
1,805,929 |
1,934,968 |
1,662,255 |
1,613,346 |
| Return on Assets5 |
1.30% |
1.56% |
1.74% |
1.75% |
1.85% |
| Return on Equity5 |
8.14% |
9.83% |
10.82% |
10.44% |
10.55% |
| Net Interest Margin |
2.64% |
2.50% |
2.57% |
2.64% |
2.71% |
| Operating Expense Rate6 |
1.46% |
1.45% |
1.49% |
1.58% |
1.53% |
| Total Farm Credit System8 |
| |
Gross Loan Volume |
164,830,000 |
161,423,000 |
142,906,000 |
123,436,000 |
106,272,000 |
| Nonperfoming Loans |
3,535,000 |
2,416,000 |
621,000 |
615,000 |
600,000 |
| Nonaccrual Loans |
3,369,000 |
2,282,000 |
512,000 |
533,000 |
524,000 |
| Nonperforming Loans/Gross Loans3 |
2.14% |
1.50% |
0.43% |
0.50% |
0.56% |
| Bonds and Notes |
178,358,000 |
179,769,000 |
155,295,000 |
134,466,000 |
113,576,000 |
| Capital/Assets9 |
13.90% |
12.65% |
14.17% |
15.00% |
16.28% |
| Surplus/Assets |
11.49% |
10.80% |
11.52% |
12.25% |
13.30% |
| Net Income |
2,850,000 |
2,916,000 |
2,703,000 |
2,379,000 |
2,096,000 |
| Return on Assets5 |
1.32% |
1.41% |
1.53% |
1.56% |
1.58% |
| Return on Equity5 |
9.86% |
10.70% |
10.38% |
9.99% |
9.38% |
| Net Interest Margin |
2.65% |
2.41% |
2.43% |
2.48% |
2.58% |
Sources: Farm Credit System Call Report as of June 30, 2010, and the Farm Credit System Annual Information Statement provided by the Federal Farm Credit Banks Funding Corporation.
Note: Changes to data in previous periods occasionally occur for accounting reasons.
1. Includes Farm Credit Banks and the Agricultural Credit Bank.
2. Excludes loans 90 days or more past due.
3. Nonperforming loans are defined as nonaccrual loans, accruing restructured loans, and accrual loans 90 days or more past due.
4. Capital excludes mandatorily redeemable preferred stock.
5. Income ratios are annualized.
6. Operating expenses divided by average gross loans, annualized.
7. Capital excludes protected borrower capital.
8. Cannot be derived through summation of above categories because of intradistrict and intra-System eliminations used in Reports to Investors.
9. Capital includes restricted capital (amount in Farm Credit Insurance Fund), excludes mandatorily redeemable preferred stock and protected borrower capital. |
FCS Financial Indicators by District,1 June 30, 2010
(Dollars in Thousands)
| |
|
|
|
Allowance for Loan Losses
|
Cash and Marketable Investments2
|
|
|
|
| FCS Banks |
| AgFirst |
30,707,807 |
20,726,642 |
194,800 |
31,896 |
9,671,912 |
834,906 |
1,047,591 |
1,858,720 |
| AgriBank |
66,293,686 |
55,191,730 |
113,941 |
23,886 |
10,285,378 |
1,676,981 |
1,887,894 |
3,438,295 |
| CoBank |
58,363,827 |
42,315,617 |
272,051 |
381,515 |
14,598,212 |
2,218,488 |
2,025,222 |
4,258,438 |
| Texas |
14,147,671 |
10,626,494 |
135,419 |
31,423 |
3,418,327 |
436,724 |
443,896 |
904,715 |
| U.S. AgBank |
24,848,828 |
19,647,444 |
10,336 |
3,286 |
4,958,611 |
853,982 |
653,249 |
1,258,992 |
| Total |
194,361,819 |
148,507,927 |
726,547 |
472,006 |
42,932,440 |
6,021,081 |
6,057,852 |
11,719,160 |
| FCS Associations |
| AgFirst |
18,042,908 |
16,745,133 |
617,088 |
171,650 |
490,801 |
199,661 |
2,838,099 |
3,017,250 |
| AgriBank |
58,467,417 |
53,322,277 |
1,035,146 |
389,834 |
2,322,711 |
222,693 |
9,439,245 |
9,662,011 |
| CoBank |
13,258,064 |
12,682,160 |
342,636 |
154,344 |
46,544 |
190,790 |
1,993,617 |
2,140,449 |
| Texas |
13,340,857 |
12,646,096 |
508,641 |
125,789 |
293,684 |
63,398 |
2,032,692 |
2,103,905 |
| U.S. AgBank |
24,290,171 |
22,754,569 |
293,555 |
126,964 |
457,766 |
558,189 |
3,942,028 |
4,504,805 |
| Total |
127,399,417 |
118,150,235 |
2,797,066 |
968,581 |
3,611,506 |
1,234,731 |
20,245,681 |
21,428,420 |
| TOTAL FCS |
216,261,000 |
162,186,000 |
3,523,000 |
1,440,000 |
45,756,000 |
1,496,000 |
26,121,000 |
31,750,000 |
Sources: Farm Credit System Call Report as of June 30, 2010, and the Farm Credit System Annual Information Statement provided by the Federal Farm Credit Banks Funding Corporation.
1. Aggregations of district data may not equal totals because of eliminations.
2. Includes accrued interest receivable on marketable investments.
3. Includes capital stock and participation certificates, excludes mandatorily redeemable preferred stock and protected borrower capital.
4. Includes allocated and unallocated surplus.
5. 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 $3.158 billion of restricted capital, which is the amount in the Farm Credit Insurance Fund. Excludes mandatorily redeemable preferred stock and protected borrower capital. |