February 23, 2022
The Farm Credit System today reported combined net income of $6.8 billion for the year ended December 31, 2021, as compared with $6.0 billion for the prior year. The System’s combined net income was relatively unchanged at $1.6 billion for the fourth quarter of 2021, as compared with the fourth quarter of 2020.
“The System experienced solid loan growth in 2021 and increased earnings reflecting our prudent underwriting standards, improved economic conditions and continued strong credit quality,” remarked Tracey McCabe, President and CEO of the Federal Farm Credit Banks Funding Corporation. “System institutions are well-positioned to serve our member-borrowers during what may be a period of elevated inflation and rising interest rates.”