Farm Credit

Farm Credit East Reports Strong Financial Results

Farm Credit East posted strong financial results for the six month period ended June 30, 2022. Net income was $150.4 million for the six months ended June 30, 2022, an increase of $48.8 million as compared with the same period in 2021. Our strong earnings reflect the favorable impact of the merger on net interest income due to increased loan volume, partially offset by higher operating expenses. In addition, the Association recorded a $35.9 million reversal to the allowance for loan losses during the second quarter as discussed in the ‘Provision for Loan Losses and Allowance for Credit Losses’ section of this report.

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