2017 Farm Credit East Annual Report Released
March 9, 2018
Farm Credit East recently released its 2017 Annual Report, indicating the financial cooperative experienced another year of strong ﬁnancial performance in 2017. Loan volume increased 5.0 percent to $6.6 billion as of December 31, 2017 with average loan volume increasing 4.6 percent. Net income grew to $160.1 million in 2017, an $8.7 million increase compared to 2016. The 5.8 percent increase resulted primarily from higher net interest income and higher patronage income offset by an increase in operating expenses. From its 2017 earnings, Farm Credit East declared a $60.0 million patronage dividend which will be distributed in cash in 2018.