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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.
Former Regional Vice President receives promotion
The Farm Credit Mid-America Board of Directors is pleased to announce the intent to merge Farm Credit Mid-America and Farm Credit Midsouth under the name Farm Credit Mid-America.
The three incumbent directors will continue to provide strategic direction to the Association’s leadership