CoBank Reports Third Quarter 2023 Financial Results
DENVER (November 3, 2023) — CoBank, ACB has released its third quarter 2023 financial results. The news release is available on CoBank.com under Corporate → Financial Information.
Financial highlights for the third quarter 2023 include:
- Average loan volume increased 6% to $140.7 billion in 2023 from $133.0 billion in 2022.
- Net income decreased 4% to $380 million in 2023 compared to $395 million in 2022.
- Credit quality and capital levels remained strong.
CoBank is a 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 affiliated 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.