Farm Credit East Reports Strong Financial Results

May 7, 2020

The COVID-19 pandemic has affected nearly every aspect of the economy, including the agriculture, forest products and commercial fishing industries. Farm Credit East realizes the hardships this has created for many of our customers, and just as we do through other industry challenges, we’ll continue to work with customers through this difficult time. Farm Credit East has the financial capacity to continue to support customers and we remain committed to providing sound credit and financial services.

Farm Credit East posted strong financial results for the three-month period ended March 31, 2020. Net income was $50.7 million for the three months ended March 31, 2020, an increase of $3.7 million (7.8%) as compared with the same period in 2019. Our strong earnings primarily reflect higher net interest income and slightly higher noninterest income offset by higher operating expenses.

View the first quarter financial results here.