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FCS Major Financial Indicators
Provided here are three tables containing data for selected financial performance indicators for FCS institutions. The first table, FCS Financial Indicators, Quarterly Comparison, reports data over five consecutive quarters for three categories: the banks, the associations, and the System as a whole. The second table, FCS Financial Indicators, Annual Comparison, reports data over five years.
The third table, FCS Financial Indicators by District, allows users to compare financial indicator data across the five FCS districts, each of which contains a single FCS bank. The name of the district corresponds to the name of its bank. This table provides financial indicator data for the FCS bank in each district, combined data for the associations in each district, and totals for the Farm Credit System.
The three tables are also available as PDF files: Quarterly Comparison (52 KB), Annual Comparison (57 KB), District (52 KB).
FCS Financial Indicators, Quarterly Comparison
(Dollars in Thousands)
| |
31-Mar-12 |
31-Dec-11 |
30-Sep-11 |
30-Jun-11 |
31-Mar-11 |
| Farm Credit System Banks1 |
| |
Total Assets |
205,537,009 |
205,087,928 |
202,868,279 |
205,987,711 |
207,648,265 |
| Gross Loan Volume |
161,385,748 |
158,420,741 |
154,804,128 |
158,327,662 |
162,241,427 |
| Nonaccrual Loans |
347,468 |
384,795 |
543,728 |
611,319 |
545,234 |
| Cash and Marketable Investments |
41,653,351 |
44,047,407 |
45,443,759 |
45,336,976 |
43,145,642 |
| Net Income |
502,499 |
439,104 |
453,805 |
475,853 |
491,585 |
| Nonperforming Loans/Total Loans2 |
0.24% |
0.27% |
0.38% |
0.42% |
0.37% |
| Capital/Assets3 |
6.51% |
6.49% |
6.63% |
6.38% |
6.09% |
| Unallocated Retained Earnings/Assets |
3.17% |
3.25% |
3.47% |
3.28% |
3.13% |
| Return on Assets4 |
0.99% |
0.92% |
0.93% |
0.94% |
0.95% |
| Return on Equity4 |
15.23% |
13.68% |
14.20% |
15.01% |
15.78% |
| Net Interest Margin5 |
1.30% |
1.28% |
1.29% |
1.28% |
1.28% |
| Operating Expense Rate6 |
0.29% |
0.31% |
0.29% |
0.29% |
0.29% |
| Efficiency Ratio7 |
16.62% |
20.14% |
17.27% |
17.26% |
16.53% |
| FCS Associations |
| |
Total Assets |
134,695,454 |
136,717,742 |
133,629,959 |
132,364,297 |
132,038,960 |
| Gross Loan Volume |
125,074,673 |
126,187,799 |
123,621,577 |
122,837,133 |
122,845,985 |
| Nonaccrual Loans |
2,360,217 |
2,353,352 |
2,528,114 |
2,700,657 |
2,802,428 |
| Net Income |
703,909 |
1,018,601 |
661,396 |
611,255 |
715,902 |
| Nonperforming Loans/Total Loans2 |
2.06% |
2.03% |
2.20% |
2.35% |
2.39% |
| Capital/Assets3 |
18.54% |
17.84% |
17.89% |
17.63% |
17.28% |
| Unallocated Retained Earnings/Assets |
17.28% |
16.78% |
16.69% |
16.19% |
15.82% |
| Return on Assets4 |
2.11% |
2.24% |
2.00% |
2.03% |
2.19% |
| Return on Equity4 |
11.45% |
12.42% |
11.22% |
11.58% |
12.88% |
| Net Interest Margin5 |
2.97% |
2.94% |
2.95% |
2.96% |
2.97% |
| Operating Expense Rate6 |
1.44% |
1.43% |
1.37% |
1.38% |
1.40% |
| Efficiency Ratio7 |
38.03% |
31.27% |
36.19% |
36.92% |
34.95% |
| Total Farm Credit System8 |
| |
Gross Loan Volume |
178,595,000 |
174,664,000 |
170,615,000 |
173,798,000 |
177,599,000 |
| Bonds and Notes |
187,923,000 |
186,889,000 |
184,496,000 |
188,257,000 |
190,504,000 |
| Nonperfoming Loans |
2,970,000 |
2,997,000 |
3,315,000 |
3,552,000 |
3,540,000 |
| Nonaccrual Loans |
2,707,000 |
2,738,000 |
3,071,000 |
3,311,000 |
3,348,000 |
| Net Income |
1,052,000 |
3,940,000 |
2,994,000 |
1,986,000 |
1,004,000 |
| Nonperforming Loans/Gross Loans2 |
1.66% |
1.72% |
1.94% |
2.04% |
1.99% |
| Capital/Assets3 |
15.82% |
15.60% |
15.78% |
15.25% |
14.75% |
| Surplus/Assets |
12.90% |
12.90% |
12.93% |
12.46% |
12.07% |
| Return on Assets4 |
1.84% |
1.71% |
1.74% |
1.74% |
1.76% |
| Return on Equity4 |
11.65% |
11.17% |
11.42% |
11.58% |
11.94% |
| Net Interest Margin5 |
2.87% |
2.86% |
2.85% |
2.80% |
2.82% |
Sources: Farm Credit System Call Report as of March 31, 2012, and the Farm Credit System Quarterly Information Statements provided by the Federal Farm Credit Banks Funding Corporation.
Note: Changes to data in previous periods occasionally occur for accounting reasons.
1 Includes Farm Credit Banks and the Agricultural Credit Bank.
2 Nonperforming loans are defined as nonaccrual loans, accruing restructured loans, and accrual loans 90 or more days past due.
3 Capital includes restricted capital (amount in Farm Credit Insurance Fund), excludes mandatorily redeemable preferred stock and protected borrower capital.
4 Rates of return are annualized.
5 Net interest margin ratio measures net income produced by interest-earning assets, including the effect of loanable funds, and is a key indicator of loan pricing effectiveness.
6 Operating expenses divided by average gross loans, annualized.
7 The efficiency ratio measures total noninterest expenses for the preceding 12 months divided by net interest income plus noninterest income for the preceding 12 months.
8 Cannot be derived by adding the above categories because of intradistrict and intra-System eliminations used in Reports to Investors. |
FCS Financial Indicators, Annual Comparison
(Dollars in Thousands)
| |
31-Dec-11 |
31-Dec-10 |
31-Dec-09 |
31-Dec-08 |
31-Dec-07 |
| Farm Credit System Banks1 |
| |
Gross Loan Volume |
158,420,741 |
161,069,141 |
152,412,187 |
149,491,137 |
131,191,826 |
| Accruing Restructured Loans2 |
43,252 |
48,457 |
4,651 |
5,125 |
4,301 |
| Accrual Loans 90 or More Days Past Due |
6,895 |
8,695 |
28,816 |
21,594 |
12,917 |
| Nonaccrual Loans |
384,795 |
477,341 |
759,134 |
582,160 |
46,069 |
| Net Income |
1,860,347 |
1,917,143 |
1,442,328 |
1,231,430 |
981,688 |
| Nonperforming Loans/Total Loans3 |
0.27% |
0.33% |
0.52% |
0.41% |
0.05% |
| Capital/Assets4 |
6.49% |
6.00% |
5.59% |
4.89% |
5.43% |
| Unallocated Retained Earnings/Assets |
3.25% |
3.03% |
2.80% |
2.50% |
2.69% |
| Return on Assets |
0.92% |
0.95% |
0.74% |
0.65% |
0.60% |
| Return on Equity |
13.68% |
15.00% |
13.13% |
12.44% |
10.59% |
| Net Interest Margin |
1.28% |
1.22% |
1.17% |
0.97% |
0.83% |
| Efficiency Ratio6 |
20.14% |
18.24% |
20.49% |
25.40% |
25.73% |
| Payout Ratio7 |
53.76% |
50.43% |
56.31% |
62.26% |
67.65% |
| FCS Associations |
| |
Gross Loan Volume |
126,189,161 |
124,140,035 |
118,575,715 |
114,026,889 |
105,620,488 |
| Accruing Restructured Loans2 |
170,966 |
65,385 |
58,926 |
30,381 |
47,212 |
| Accrual Loans 90 or More Days Past Due |
37,988 |
33,182 |
68,508 |
65,703 |
43,840 |
| Nonaccrual Loans |
2,354,714 |
2,744,528 |
2,634,046 |
1,706,613 |
465,414 |
| Net Income |
3,007,154 |
2,408,449 |
1,585,984 |
1,805,929 |
1,934,968 |
| Nonperforming Loans/Gross Loans3 |
2.03% |
2.29% |
2.33% |
1.58% |
0.53% |
| Capital/Assets7 |
17.84% |
16.54% |
15.82% |
15.46% |
15.57% |
| Unallocated Retained Earnings/Assets |
16.78% |
15.07% |
14.56% |
13.51% |
13.58% |
| Return on Assets |
2.24% |
1.84% |
1.29% |
1.57% |
1.74% |
| Return on Equity |
12.42% |
10.88% |
8.13% |
9.84% |
10.82% |
| Net Interest Margin |
2.94% |
2.79% |
2.64% |
2.50% |
2.57% |
| Efficiency Ratio6 |
31.27% |
35.12% |
39.05% |
44.44% |
42.23% |
| Payout Ratio7 |
22.57% |
22.83% |
22.51% |
23.69% |
25.07% |
| Total Farm Credit System8 |
| |
Gross Loan Volume |
174,664,000 |
175,351,000 |
164,830,000 |
161,423,000 |
142,906,000 |
| Bonds and Notes |
186,889,000 |
189,575,000 |
178,358,000 |
179,769,000 |
155,295,000 |
| Nonperforming Loans |
2,997,000 |
3,386,000 |
3,535,000 |
2,416,000 |
621,000 |
| Nonaccrual Loans |
2,738,000 |
3,229,000 |
3,369,000 |
2,282,000 |
512,000 |
| Net Income |
3,940,000 |
3,495,000 |
2,850,000 |
2,916,000 |
2,703,000 |
| Nonperforming Loans/Gross Loans3 |
1.72% |
1.93% |
2.14% |
1.50% |
0.43% |
| Capital/Assets9 |
15.60% |
14.46% |
13.90% |
12.65% |
14.17% |
| Surplus/Assets |
12.90% |
11.80% |
11.48% |
10.80% |
11.52% |
| Return on Assets |
1.71% |
1.59% |
1.32% |
1.41% |
1.53% |
| Return on Equity |
11.17% |
10.85% |
9.86% |
10.70% |
10.38% |
| Net Interest Margin |
2.86% |
2.82% |
2.65% |
2.41% |
2.43% |
Sources: Farm Credit System Annual Information Statements provided by the Federal Farm Credit Banks Funding Corporation.
Note: Changes to data in previous periods occasionally occur for accounting reasons.
1 Includes Farm Credit Banks and the Agricultural Credit Bank.
2 Excludes loans 90 days or more past due.
3 Nonperforming loans are defined as nonaccrual loans, accruing restructured loans, and accrual loans 90 days or more past due.
4 Capital excludes mandatorily redeemable preferred stock.
5 Operating expenses divided by average gross loans.
6 Capital excludes protected borrower capital.
7 Cannot be derived through summation of above categories because of intradistrict and intra-System eliminations used in Reports to Investors.
8 Capital includes restricted capital (amount in Farm Credit Insurance Fund), excludes mandatorily redeemable preferred stock and protected borrower capital. |
FCS Financial Indicators by District, March 31, 2012
(Dollars in Thousands)
| |
|
|
|
Allowance for Loan Losses
|
Cash and Marketable Investments1
|
|
|
Total Capital4 |
|
| FCS Banks |
| AgFirst |
28,105,060 |
19,525,746 |
72,373 |
28,045 |
8,273,519 |
723,846 |
1,341,013 |
2,202,558 |
0.45% |
| AgriBank |
73,027,969 |
61,252,126 |
60,826 |
11,926 |
11,031,186 |
1,824,424 |
2,180,339 |
3,890,813 |
0.14% |
| CoBank |
90,095,055 |
69,985,380 |
125,031 |
414,146 |
18,818,458 |
3,449,358 |
2,486,651 |
6,045,503 |
0.34% |
| Texas |
14,308,925 |
10,622,496 |
89,238 |
18,031 |
3,530,188 |
698,839 |
519,370 |
1,244,462 |
0.50% |
| Total |
205,537,009 |
161,385,748 |
347,468 |
472,148 |
41,653,351 |
6,696,467 |
6,527,373 |
13,383,336 |
0.29% |
| FCS Associations |
| AgFirst |
17,261,541 |
16,126,870 |
565,687 |
148,136 |
359,912 |
213,073 |
3,032,601 |
3,217,429 |
2.05% |
| AgriBank |
66,169,509 |
60,404,183 |
826,340 |
264,486 |
2,610,271 |
231,037 |
11,501,534 |
11,732,579 |
1.35% |
| CoBank |
38,596,933 |
36,401,488 |
629,236 |
318,620 |
407,728 |
1,015,124 |
6,799,664 |
7,752,175 |
1.37% |
| Texas |
12,667,471 |
12,142,132 |
338,954 |
94,599 |
137,182 |
81,036 |
2,191,683 |
2,272,281 |
1.33% |
| Total |
134,695,454 |
125,074,673 |
2,360,217 |
825,841 |
3,515,093 |
1,540,270 |
23,525,482 |
24,974,464 |
1.44% |
| Total FCS6 |
231,457,000 |
178,595,000 |
2,707,000 |
1,298,000 |
44,736,000 |
1,591,000 |
29,847,000 |
36,616,000 |
|
Sources: Farm Credit System Call Report as of March 31, 2012, and the Farm Credit System Annual Information Statement provided by the Federal Farm Credit Banks Funding Corporation.
1 Includes accrued interest receivable on marketable investments.
2 Includes capital stock and participation certificates, excludes mandatorily redeemable preferred stock and protected borrower capital.
3 Includes allocated and unallocated surplus.
4 Includes capital stock, participation certificates, perpetual preferred stock, surplus, accumulated other comprehensive income, and restricted capital (amount in the Farm Credit Insurance Fund, for Farm Credit System total only). Excludes mandatorily redeemable preferred stock and protected borrower capital.
5 Operating expense per $100 of gross loans.
6 Cannot be derived by adding the categories above because of intradistrict and intra-System eliminations used in Reports to Investors. |