August 3, 2017

Northwest FCS News


Northwest Farm Credit Services Reports 2017 Second Quarter Earnings

SPOKANE, Wash. (Aug. 4, 2017) – Northwest Farm Credit Services, the Northwest’s leading agricultural lending cooperative, announced 2017 second quarter earnings of $54.7 million, compared to $57.9 million for the same quarter of 2016. Earnings for the six months ended June 30, 2017, were $120.0 million, a 3.2 percent increase, compared to $116.3 million for the same period of the prior year. Total capital increased 3.2 percent during the year to $2.3 billion.

"We are pleased with our company's financial performance to date in 2017," said Phil DiPofi, President and CEO. "Our results are exceeding our business plan projections in several areas, primarily as the result of our overall customer-members' strong financial positions. We anticipate economic challenges for some in agriculture, due to lower commodity prices and weather-related impacts in certain areas. However, a strong crop insurance program will help farmers manage their weather-related risks."

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

About Northwest Farm Credit Services
Northwest FCS is an $11 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