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LOUISVILLE, Ky. – Farm Credit Mid-America reports total and owned assets reached $24.4 billion, which resulted in an increase in net income of $331 million, up from $274 million for the nine months ended Sept. 30, 2019, compared to the similar nine-month period during 2018.
The report comes amid a challenging harvest season precipitated by spring rains, trade uncertainties, regulation and policy questions, and price issues.
“The stress and pressures farmers have faced this year have been extraordinary,” said Bill Johnson, Farm Credit Mid-America president and CEO. “But so is their resilience, their passion for and commitment to their farms, families and operations.
“We’re fortunate to be able to use our financial strength and stability to continuously serve our customers’ needs through both good and challenging times,” said Johnson.
Third-quarter highlights for the financial services cooperative that serves farmers and rural residents in Indiana, Ohio, Kentucky and Tennessee include:
For the complete financial report, visit e-farmcredit.com/about.
Two incumbents and one new grower and producer added to the Association’s Board of Directors.
Spring weather this year has prevented or delayed planting for some producers. Know your options before filing a Prevent Plant claim.
USDA program includes $16 billion in direct payments to producers to help offset impacts from the pandemic. Applications open Tuesday, May 26.
Stock-holding customers encouraged to vote, continue to help us
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