2024 Annual Report

CoBank’s financial performance in 2024 was the best in our history across a range of performance measures. Average loans reached an all-time high and we achieved record net income while maintaining solid credit quality. For the first time, CoBank’s patronage distributions will exceed $1 billion for the year – delivering an exceptional level of value for our customer-owners that we finance across rural America.
The bank also made substantial progress during the year against a wide range of business and operational strategic objectives as we evolve to best serve our customer-owners. We are proud of our results for 2024 and the strength of our business as we continue to serve our customers and fulfill our mission of service to rural America in the years ahead.

– Thomas Halverson, CoBank CEO

Highlights

  • Average loans increased 6% to $151.5 billion in 2024, from $143.1 billion in 2023.
  • Net income increased 9% to a record $1.635 billion in 2024, up from $1.507 billion in 2023.
  • Credit quality and capital levels remained strong.
  • Patronage distributions for the year will total $1.032 billion.

Customer Stories