FARM CREDIT SYSTEM REPORTS FIRST QUARTER 2024 COMBINED RESULTS

NEW YORK - The Farm Credit System today reported that combined net income increased 15.9% to $2.0 billion for the first quarter of 2024, as compared with $1.7 billion for the same period of the prior year.

“The System reported solid first quarter results,” remarked Tracey McCabe, President and CEO of the Federal Farm Credit Banks Funding Corporation. “Capital levels remained solid amid varying agricultural conditions, an environment of sustained higher interest rates and a strong U.S. dollar.  The System remains well positioned to continue to serve its mission in an environment that may remain challenging as 2024 unfolds.”