August 3, 2016

Northwest FCS News


Northwest Farm Credit Services Reports Continued Strong Financial Results with Second Quarter Earnings

Spokane, Wash. - Aug. 3, 2016 – Northwest Farm Credit Services, the Northwest’s leading agricultural lending cooperative, announced 2016 second quarter earnings of $57.9 million, a 3.3 percent increase compared to $56.1 million for the second quarter of 2015. Earnings for six months ended June 30, 2016, were $116.3 million, compared to $119.2 million for the same period of the prior year. Total capital increased 3.3 percent during the year to $2.1 billion.

"So far in 2016, most of our customer-members are seeing good growing conditions and positive returns, as evidenced by the continued strong performance and growth of our loan portfolio," said Phil DiPofi, President and CEO. "However, we are seeing pockets of stress in some commodities where prices have declined due to increased supply in the global markets and sales are negatively impacted by the strong U.S. dollar."

DiPofi noted that producers should continue to benefit from relatively low interest rates and fuel costs in 2016.

For more information about current market conditions, see Northwest FCS Industry Insights.

About Northwest Farm Credit Services
Northwest FCS is a $10.6 billion financial cooperative providing financing and related services to farmers, ranchers, agribusinesses, commercial fishermen, timber producers, rural homeowners and crop insurance customers in Montana, Idaho, Oregon, Washington and Alaska. Northwest FCS is a member of the nationwide Farm Credit System that supports agriculture and rural communities with reliable, consistent credit and financial services.

Debra Strohmaier
Communications Specialist or 509.340.5443