2021 Annual Report

“CoBank recorded outstanding business and financial results throughout the year despite the highly challenging conditions for financial institutions. We achieved record levels of loan volume, earnings and patronage, in addition to continuing strong credit quality and capital levels.”
“Today, from both a financial and operational standpoint, CoBank is arguably stronger, delivering more value, and fulfilling its mission more effectively than at any time in the history of the enterprise.”

– Thomas Halverson, CoBank president and CEO


  • 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.

Customer Stories