CoBank Reports 2021 Year-end Financial Results
CoBank, ACB has released its year-end 2021 financial results. Financial highlights for the year 2021 include:
- Average loan volume increased 10% to $123.3 billion in 2021, from $112.6 billion in 2020.
- Net income increased 4% to $1.314 billion in 2021, up from $1.263 billion in 2020.
- Credit quality and capital levels remained strong.
- Patronage distributions for the year will total a record $884.6 million.
The bank will hold its annual year-end earnings conference call and webcast at 1:00 p.m. Mountain Time on Tuesday, March 1, 2022. To join the earnings call, go to https://www.cobank.com/2021EarningsWebcast.
CoBank is a $170 billion cooperative bank serving vital industries across rural America. The bank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states. The bank also provides wholesale loans and other financial services to affliated Farm Credit associations serving more than 76,000 farmers, ranchers and other rural borrowers in 23 states around the country.
CoBank is a member of the Farm Credit System, a nationwide network of banks and retail lending associations chartered to support the borrowing needs of U.S. agriculture, rural infrastructure and rural communities. Headquartered outside Denver, Colorado, CoBank serves customers from regional banking centers across the U.S. and also maintains an international representative office in Singapore.