Farm Credit Reports Loans Up 10 Percent

The Farm Credit System reports loan volumes are up 10 percent for the first half of 2016 while net income increased two percent.
President of Federal Farm Credit Banks Funding Corporation Tracey McCabe says, “despite continued lower agricultural commodity prices and global economic challenges, the overall credit quality of the System's loan portfolio remained favorable."
The first half results of 2016 compared to last year saw combined net income go up 3.5 percent to $1.18 billion dollars.
Net interest income bumped up seven percent to $1.84 billion in the second quarter of 2016.