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 (57 KB), Annual Comparison (52 KB), District (47 KB).

FCS Financial Indicators, Quarterly Comparison
(Dollars in Thousands)

 At and for the 3 months ended 30-Jun-15 31-Mar-15 31-Dec-14 30-Sep-14 30-Jun-14
Farm Credit System Banks1
 
Total Assets
248,617,837 244,693,710 249,370,568 238,410,097 234,154,694
Gross Loan Volume
194,401,410 190,164,936 192,083,080 183,842,705 181,456,445
Nonaccrual Loans
210,389 225,292 227,872 203,977 229,421
Cash and Marketable Investments
        52,366,262     52,862,617     55,472,944     52,661,738     50,970,640
Net Income
481,726 491,667 503,188 533,814 509,878
Nonperforming Loans/Total Loans2
0.13% 0.14% 0.15% 0.14% 0.15%
Capital/Assets3
6.67% 6.67% 6.41% 6.67% 6.66%
Unallocated Retained Earnings/Assets
3.64% 3.60% 3.42% 3.64% 3.57%
Return on Assets4
0.80% 0.81% 0.84% 0.88% 0.87%
Return on Equity4
11.88% 12.28% 12.76% 13.04% 13.12%
Net Interest Margin5
1.04% 1.06% 1.05% 1.07% 1.09%
Operating Expense Rate6
0.33% 0.33% 0.33% 0.32% 0.32%
Efficiency Ratio7
23.51% 21.74% 24.20% 21.00% 21.78%
FCS Associations
  Total Assets 169,064,197 164,223,600 167,313,324 161,664,149 157,508,169
Gross Loan Volume 159,899,043 155,357,378 157,543,635 152,119,370   148,257,307
Nonaccrual Loans 1,217,058 1,179,273 1,141,682 1,206,532 1,340,418
Net Income 756,748 757,869 978,516 801,536 795,636
Nonperforming Loans/Total Loans2 0.95% 0.97% 0.92% 0.99% 1.08%
Capital/Assets3 19.40% 19.57% 18.78% 19.33% 19.35%
Unallocated Retained Earnings/Assets 17.96% 18.08% 17.40% 17.87% 17.84%
Return on Assets4 1.83% 1.88% 2.05% 1.99% 2.02%
Return on Equity4 9.39% 9.65% 10.55% 10.22% 10.46%
Net Interest Margin5 2.78% 2.84% 2.75% 2.81% 2.85%
Operating Expense Rate6 1.50% 1.54% 1.51% 1.44% 1.45%
Efficiency Ratio7 42.22% 43.06% 39.52% 39.17% 39.63%
Total Farm Credit System8
  Total Assets 283,193,000 278,969,000 282,844,000 271,324,000 266,213,000
Gross Loan Volume 220,535,000 216,163,000 217,054,000 208,051,000 205,054,000
Bonds and Notes 227,963,000 224,668,000 229,064,000 218,523,000 214,649,000
Nonperfoming Loans 1,766,000 1,771,000 1,737,000 1,764,000 2,047,000
Nonaccrual Loans 1,424,000 1,408,000 1,375,000 1,417,000 1,574,000
Net Income 2,273,000 1,132,000 4,724,000 3,569,000 2,341,000
Nonperforming Loans/Gross Loans2 0.80% 0.82% 0.80% 0.85% 1.00%
Capital/Assets3 16.87% 16.79% 16.16% 16.89% 16.80%
Surplus/Assets 13.94% 13.84% 13.36% 13.84% 13.75%
Return on Assets4 1.63% 1.65% 1.74% 1.79% 1.78%
Return on Equity4 9.69% 9.80% 10.50% 10.67% 10.68%
Net Interest Margin5 2.55% 2.57% 2.64% 2.65% 2.65%

Sources: FCA's Consolidated Reporting System as of June 30, 2015, 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 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-15 30-Jun-14 30-Jun-13 30-Jun-12 30-Jun-11
Farm Credit System Banks1
  Total Assets   248,617,837   234,154,694   219,660,173   210,124,283   205,987,711
Gross Loan Volume   194,401,410   181,456,445   172,480,829   164,128,901   158,327,662
Nonaccrual Loans 210,389 229,421 373,204 311,488 611,319
Cash and Marketable Investments 52,366,262 50,970,640 45,061,679 43,533,239 45,336,976
Net Income 973,393 1,005,525 1,030,551 1,088,337 967,438
Nonperforming Loans/ Total Loans2 0.13% 0.15% 0.24% 0.20% 0.42%
Capital/Assets3 6.67% 6.66% 6.74% 6.54% 6.38%
Unallocated Retained Earnings/Assets 3.64% 3.57% 3.50% 3.27% 3.28%
Return on Assets 0.80% 0.87% 0.95% 1.05% 0.94%
Return on Equity 11.88% 13.12% 13.94% 16.07% 15.01%
Net Interest Margin 1.04% 1.09% 1.22% 1.29% 1.28%
Operating Expense Ratio 0.33% 0.32% 0.31% 0.30% 0.29%
Efficiency Ratio 23.51% 21.78% 19.67% 15.78% 17.26%
Payout Ratio7 N/A N/A N/A N/A N/A
FCS Associations
  Total Assets   169,064,197   157,508,169   149,805,000   139,899,134   132,364,297
Gross Loan Volume   159,899,043   148,257,307   140,200,066   129,947,070   122,837,133
Nonaccrual Loans 1,217,058 1,340,418 1,810,799 2,242,641 2,700,657
Net Income 1,514,617 1,564,412 1,452,823 1,549,183 1,327,157
Nonperforming Loans/Gross Loans2 0.95% 1.08% 1.50% 1.89% 2.35%
Capital/Assets3 19.40% 19.35% 18.61% 18.39% 17.63%
Unallocated Retained Earnings/Assets 17.96% 17.84% 17.41% 17.19% 16.19%
Return on Assets 1.83% 2.02% 1.99% 2.27% 2.03%
Return on Equity 9.39% 10.46% 10.65% 12.28% 11.58%
Net Interest Margin4 2.78% 2.85% 2.89% 2.92% 2.96%
Operating Expense Ratio5 1.50% 1.45% 1.45% 1.42% 1.38%
Efficiency Ratio6 42.22% 39.63% 39.14% 34.92% 36.92%
Payout Ratio7 N/A N/A N/A N/A N/A
Total Farm Credit System8
  Total Assets   283,193,000   266,213,000   248,475,000   236,259,000   229,994,000
Gross Loan Volume   220,535,000   205,054,000   192,784,000   181,519,000   173,798,000
Bonds and Notes   227,963,000   214,649,000   201,109,000   191,991,000   188,257,000
Nonperforming Loans 1,766,000 2,047,000 2,522,000 2,784,000 3,552,000
Nonaccrual Loans 1,424,000 1,574,000 2,183,000 2,550,000 3,311,000
Net Income 2,273,000 2,341,000 2,246,000 3,065,000 1,986,000
Nonperforming Loans/Gross Loans2 0.80% 1.00% 1.31% 1.53% 2.04%
Capital/Assets3 16.87% 16.80% 16.33% 15.86% 15.25%
Surplus/Assets 13.94% 13.75% 13.58% 13.08% 12.46%
Return on Assets 1.63% 1.78% 1.83% 1.76% 1.74%
Return on Equity 9.69% 10.68% 11.29% 11.17% 11.58%
Net Interest Margin4 2.55% 2.65% 2.75% 2.86% 2.80%

Sources: Farm Credit System Annual 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 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, June 30, 2015
(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    28,766,872    20,765,144        27,615       16,067       7,694,381     464,472    1,807,361    2,360,048 0.58%
AgriBank    93,961,052    77,545,512        42,699       14,154     15,962,281  2,203,629    2,860,673    5,041,917 0.16%
CoBank  107,108,489    82,159,340      136,634     468,720     24,048,749  3,908,951    3,666,781    7,609,663 0.38%
Texas    18,781,424    13,931,414         3,441        5,745       4,660,851     833,467       737,727    1,560,263 0.60%
Total  248,617,837  194,401,410      210,389     504,686     52,366,262  7,410,519    9,072,542  16,571,891
0.33%
FCS Associations
AgFirst    19,016,834    18,244,461      238,007     162,514         153,066     225,067    3,805,705    3,999,334 2.14%
AgriBank    86,879,780    81,490,897      517,509     241,977       1,671,201     340,447  15,786,963  16,127,410 1.37%
CoBank    47,595,597    45,122,074      328,339     270,625         254,925  1,489,207    8,508,640    9,914,772 1.44%
Texas    15,571,986    15,041,611      133,203       52,835           43,138     284,779    2,479,750    2,754,884 1.60%
Total  169,064,197  159,899,043   1,217,058     727,951       2,122,330  2,339,500  30,581,058  32,796,400
1.50%
Total Farm Credit System6  283,193,000  220,535,000   1,424,000  1,233,000     54,400,000  1,692,000  39,476,000  47,785,000  

Sources: FCA's Consolidated Reporting System as of June 30, 2015, and the Farm Credit System Annual 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 $3.889 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.