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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 second quarter (as of June 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.
| 6/30/2023 | 6/30/2022 | 6/30/2021 | 6/30/2020 | |
|---|---|---|---|---|
| Cash, Federal funds sold, securities purchased under resale agreements and investments | $ 92,286 | $ 87,139 | $ 73,936 | $ 76,363 |
| Loans | 378,003 | 357,306 | 323,181 | 297,172 |
| Allowance for credit losses on loans | -1,691 | -1,614 | -1,781 | -1,885 |
| Net loans | 376,312 | 355,692 | 321,400 | 295,287 |
| Accrued interest receivable | 3,904 | 2,716 | 2,435 | 2,611 |
| Other property owned | 21 | 26 | 41 | 66 |
| Other assets | 12,111 | 10,698 | 10,019 | 10,349 |
| Total assets | 484,634 | 456,271 | 407,831 | 384,676 |
| Systemwide bonds and medium-term notes | 374,236 | 351,262 | 311,242 | 281,162 |
| Systemwide discount notes | 22,083 | 23,550 | 17,593 | 29,051 |
| Subordinated debt | 398 | 398 | 400 | |
| Other bonds | 6,573 | 3,938 | 2,745 | 2,132 |
| Other liabilities | 10,181 | 8,195 | 7,498 | 7,562 |
| Total liabilities | 413,471 | 387,343 | 339,478 | 319,907 |
| Capital | 71,163 | 68,928 | 68,353 | 64,769 |
Source: Funding Corporation Quarterly Information Statement (Q2, 2023) (PDF)
| 6/30/2023 YTD | 6/30/2022 YTD | 6/30/2021 YTD | 6/30/2020 YTD | |
|---|---|---|---|---|
| Interest income | $ 12,376 | $ 7,013 | $ 6,205 | $ 6,865 |
| Interest expense | 6,777 | 1,834 | 1,384 | 2,460 |
| Net interest income | 5,599 | 5,179 | 4,821 | 4,405 |
| Provision for credit losses (credit loss reversal) 1 | -407 | -1 | 30 | -158 |
| Noninterest income | 487 | 363 | 392 | 368 |
| Noninterest expense | 2,082 | 1,881 | 1,708 | 1,652 |
| Income before income taxes | 3,597 | 3,660 | 3,535 | 2,963 |
| Provision for income taxes | -91 | -93 | -94 | -90 |
| Net income | 3,506 | 3,567 | 3,441 | 2,873 |
Footnote 1: Prior to 2022, provision for loan losses (loan loss reversal)
Source: Funding Corporation Quarterly Information Statement (Q2, 2023) (PDF)
| 6/30/2023 | 6/30/2022 | 6/30/2021 | 6/30/2020 | |
|---|---|---|---|---|
| Return on average assets 1 | 1.46% | 1.59% | 1.69% | 1.52% |
| Return on average capital 1 | 9.95% | 10.30% | 10.27% | 9.05% |
| Net interest margin 1 | 2.41% | 2.38% | 2.46% | 2.44% |
| Operating expense as a % of net interest income and noninterest income | 34.3% | 33.9% | 32.8% | 34.6% |
| Net loan charge-offs as a % of average loans | 0.03% | 0.01% | 0.00% | 0.02% |
| Nonperforming assets as a % of loans and other property owned | 0.57% | 0.50% | 0.58% | 0.84% |
| Allowance for credit losses on loans as a % of loans outstanding 2 | 0.45% | 0.45% | 0.55% | 0.63% |
| Capital-to-assets ratio | 14.7% | 15.1% | 16.8% | 16.8% |
| Capital-to-assets ratio (excluding restricted assets and capital — Insurance Fund) | 13.4% | 13.9% | 15.6% | 15.7% |
| Capital and allowance for credit losses on loans as a % of loans outstanding | 19.3% | 19.7% | 21.7% | 22.4% |
| Debt to capital | 5.81:1 | 5.62:1 | 4.97:1 | 4.94:1 |
Footnote 1: Year-to-date annualized
Footnote 2: Prior to 2021, allowance for loan losses as a percentage of loans outstanding
Source: Funding Corporation Quarterly Information Statement (Q2, 2023) (PDF)
| AgFirst District | AgriBank District | Texas District | CoBank District | |
|---|---|---|---|---|
| June 30, 2023 | ||||
| Return on average assets 1 | 1.21% | 1.43% | 1.28% | 1.34% |
| Return on average capital 1 | 8.73% | 9.04% | 10.75% | 11.70% |
| Net interest margin 1 | 2.77% | 2.52% | 2.51% | 2.11% |
| Operating expense as a % of net interest income and noninterest income | 51.52% | 38.32% | 44.50% | 33.70% |
| Net loan charge-offs as a % of average loans | 0.06% | 0.01% | 0.08% | 0.03% |
| Nonperforming assets as a % of loans and other property owned | 0.57% | 0.64% | 0.59% | 0.48% |
| Allowance for credit losses on loans as a % of loans | 0.44% | 0.26% | 0.33% | 0.65% |
| Capital-to-assets ratio | 13.58% | 15.59% | 12.12% | 11.58% |
| Capital and allowance for credit losses on loans as a % of loans | 17.76% | 19.01% | 15.20% | 15.96% |
| Debt to capital | 6.37 :1 | 5.41 :1 | 7.25 :1 | 7.64 :1 |
| June 30, 2022 | ||||
| Return on average assets 1 | 1.59% | 1.51% | 1.59% | 1.42% |
| Return on average capital 1 | 10.10% | 9.11% | 12.24% | 11.75% |
| Net interest margin 1 | 2.93% | 2.34% | 2.65% | 2.14% |
| Operating expense as a % of net interest income and noninterest income | 48.26% | 40.43% | 42.64% | 33.18% |
| 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 | 0.93% | 0.51% | 0.46% | 0.36% |
| Allowance for credit losses on loans as a % of loans | 0.56% | 0.22% | 0.24% | 0.68% |
| Capital-to-assets ratio | 14.74% | 16.40% | 12.69% | 11.78% |
| Capital and allowance for credit losses on loans as a % of loans | 19.62% | 19.53% | 15.89% | 16.33% |
| Debt to capital | 5.78:1 | 5.10:1 | 6.88:1 | 7.49:1 |
Footnote 1: Year-to-date annualized
Source: Funding Corporation Quarterly Information Statement (Q2, 2023) (PDF)
| 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|
| Cash, Federal funds sold and investments | $ 89,896 | $ 80,816 | $ 74,210 | $ 68,266 | $ 66,471 |
| Loans | 373,266 | 343,929 | 315,490 | 286,964 | 273,378 |
| Allowance for loan losses | -1,576 | -1,632 | -1,796 | -1,806 | -1,713 |
| Net loans | 371,690 | 342,297 | 313,694 | 285,158 | 271,665 |
| Accrued interest receivable | 3,572 | 2,560 | 2,585 | 2,864 | 2,732 |
| Other property owned | 28 | 39 | 37 | 72 | 84 |
| Other assets | 11,877 | 10,245 | 10,167 | 8,999 | 8,040 |
| Total assets | 477,063 | 435,957 | 400,693 | 365,359 | 348,992 |
| Systemwide bonds and medium-term notes | 362,624 | 328,552 | 299,145 | 274,540 | 258,877 |
| Systemwide discount notes | 27,353 | 24,271 | 23,510 | 18,998 | 22,582 |
| Subordinated debt | 398 | 398 | 0 | 0 | 0 |
| Other bonds | 5,599 | 3,623 | 2,559 | 1,961 | 1,817 |
| Other liabilities | 12,488 | 9,636 | 9,944 | 8,130 | 7,272 |
| Total liabilities | 408,462 | 366,480 | 335,158 | 303,629 | 290,548 |
| Total capital | 68,601 | 69,477 | 65,535 | 61,730 | 58,444 |
Source: Funding Corporation's 2022 Annual Information System (PDF)
| 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|
| Interest income | $ 16,716 | $ 12,541 | $ 13,107 | $ 15,019 | $ 13,680 |
| Interest expense | 6,174 | 2,777 | 4,061 | 6,753 | 5,704 |
| Net interest income | 10,542 | 9,764 | 9,046 | 8,266 | 7,976 |
| Provision for loan losses (loan loss reversal) | 40 | -152 | 107 | 169 | 194 |
| Noninterest income | 969 | 760 | 758 | 711 | 755 |
| Noninterest expense | -4,037 | -3,719 | -3,523 | -3,259 | -3,079 |
| Income before income taxes | 7,434 | 6,957 | 6,174 | 5,549 | 5,458 |
| Provision for income taxes | -166 | -161 | -172 | -103 | -126 |
| Net income | 7,268 | 6,796 | 6,002 | 5,446 | 5,332 |
Source: Funding Corporation's 2022 Annual Information Statement (PDF)
| 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|
| Return on average assets | 1.59% | 1.66% | 1.57% | 1.54% | 1.59% |
| Return on average capital | 10.45% | 9.94% | 9.26% | 8.91% | 9.29% |
| Net interest margin | 2.39% | 2.46% | 2.46% | 2.42% | 2.46% |
| Operating expense as a % of net interest income and noninterest income | 35.1% | 35.3% | 35.9% | 36.2% | 35.2% |
| Net loan charge-offs as a % of average loans | 0.01% | 0.01% | 0.03% | 0.02% | 0.03% |
| Nonperforming assets as a % of loans and other property owned | 0.47% | 0.46% | 0.60% | 0.82% | 0.83% |
| Allowance for loan losses as a % of loans outstanding | 0.42% | 0.47% | 0.57% | 0.63% | 0.63% |
| Capital-to-assets ratio | 14.4% | 15.9% | 16.4% | 16.9% | 16.7% |
| Capital-to-assets ratio (excluding restricted assets and capital — Insurance Fund) | 13.2% | 14.8% | 15.2% | 15.7% | 15.5% |
| Capital and allowance for loan losses as a % of loans outstanding | 18.8% | 20.7% | 21.3% | 22.1% | 22.0% |
| Debt to capital | 5.95:1 | 5.27:1 | 5.11:1 | 4.92:1 | 4.97:1 |
Source: Funding Corporation's 2022 Annual Information Statement (PDF)
| AgFirst District | AgriBank District | Texas District | CoBank District | |
|---|---|---|---|---|
| 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 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 loan losses 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 loan losses 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 |
| December 31, 2021 | ||||
| Return on average assets | 1.87% | 1.61% | 1.69% | 1.45% |
| Return on average capital | 10.87% | 9.33% | 11.60% | 10.68% |
| Net interest margin | 3.16% | 2.35% | 2.75% | 2.18% |
| Operating expense as a % of net interest income and noninterest income | 43.80% | 39.45% | 43.28% | 35.46% |
| Net loan charge-offs as a % of average loans | 0.01% | 0.01% | 0.00% | 0.00% |
| Nonperforming assets as a % of loans and other property owned | 0.99% | 0.48% | 0.37% | 0.31% |
| Allowance for loan losses as a % of loans | 0.61% | 0.27% | 0.26% | 0.68% |
| Capital-to-assets ratio | 16.02% | 16.62% | 13.38% | 13.03% |
| Capital and allowance for loan losses as a % of loans | 21.63% | 19.72% | 16.78% | 17.75% |
| Debt to capital | 5.24:1 | 5.02:1 | 6.47:1 | 6.67:1 |
Source: Funding Corporation's 2022 Annual Information Statement (PDF)
