performance highlights

Steady net interest income generates earnings, patronage

  • AgriBank returned nearly $284.0 million in earnings to owners in the form of patronage refunds
  • AgriBank net income decreased 15.7 percent from the previous year to $480.0 million
  • Earnings generated by steady net interest income, while mineral income declined due to lower oil prices

Affiliated Association loan growth boosts AgriBank loan portfolio

  • AgriBank loan portfolio increased 6.8 percent from the previous year to $82.8 billion, reflecting growth in wholesale loans to affiliated Associations
  • Influenced by affiliated Associations fulfilling the Farm Credit mission to support farmers, ranchers and other customers with reliable, consistent credit
  • AgriBank shareholders' equity remained robust, increasing 5.2 percent from the previous year to $5.2 billion, contributing to a continued strong permanent capital ratio, as the loan portfolio continued to grow

Strategic investments prepare us for the future

  • AgriBank net operating rate of 7.3 basis points increased slightly from 7.2 basis points in 2014
  • Reflects strategic investments in processes, staffing and technology while maintaining expense discipline
  • Investments are expected to improve operating efficiency and facilitate collaboration across the AgriBank District and Farm Credit System over the long term

Continued District financial strength reflected in near-record earnings

  • Second-highest-ever net income for the District at $1.8 billion
  • Driven by strong and steady net interest income and disciplined lending practices
  • Strategic investments across the AgriBank District in technology, centers of excellence and human capital are expected to position the District to remain at the forefront of agricultural finance

Customer-owners benefit from prudent leveraging of District capital

  • District loan portfolio increased 7.3 percent from the previous year to $95.0 billion, driven by affiliated Associations fulfilling the Farm Credit mission to support farmers, ranchers and other customers with reliable, consistent credit
  • Association average permanent capital ratio remained strong at 16.2 percent as the District loan portfolio continued to grow
  • Affiliated Associations are well-positioned to navigate through the current agricultural cycle

District credit quality remains strong, reflecting borrowers' financial strength

  • District portfolio had 95.8 percent acceptable loans, which represent the highest quality assets, compared to 97.0 percent in 2014 and above the 15-year average of 94.9 percent
  • Strong positions are reverting to more normal levels as the farm income outlook faces challenge
  • Favorable credit quality of District loan portfolio reflects disciplined underwriting combined with the strong liquidity and equity positions of many borrowers