The nation’s farm banks increased agricultural lending by 5.3%, or $5.5 billion, to $108 billion in 2018, according to the American Bankers Association’s annual Farm Bank Performance Report released today.
Kristie Holoch’s bank is not just in the business of serving farmers, families and small businesses in the 33 Nebraska towns where it has branches — it also serves its fellow Nebraska community banks.
Despite some economic challenges facing the agriculture industry—including low farm incomes and falling commodity prices—the nation’s 1,4000 ag banks remain in “sound financial condition,” Federal Reserve Governor Michelle Bowman said in remarks to bankers during an industry event in New Mexico today.
Rep. Steve Watkins (R-Kan.) today introduced the Enhancing Credit Opportunities for Rural America Act (H.R. 1872), which would end taxation of interest earned from agricultural real estate loans.
In its recently issued Annual Information Statement for 2018, the FCS reported after-tax profits for 2018 of $5.33 billion and $272 billion of loans outstanding at Dec. 31, 2018, up 5.1 percent from year-end 2017.
Heather Malcolm is a central Montana agricultural lender, but when she’s not on the bank, she works on her family’s cattle ranch, which allows her to stay closely in touch with the challenges faced by her loan customers.
The Farm Credit Administration is seeking feedback on its processes for collecting and reporting data on how the Farm Credit System is serving young, beginning and small farmers—one of its statutory requirements.
The Consumer Financial Protection Bureau today released the lists of rural counties and rural or underserved counties that entities can use in 2019 to determine whether they are exempt from certain regulatory requirements.
President Trump yesterday announced that he would nominate Rod Brown to a seat on the three-member board that regulates the Farm Credit System.
