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Farm Credit System sees growth
The Farm Credit System is reporting growth in loan volumes, assets and earnings for the first half of the year.
Tracey McCabe, President and CEO of the Federal Farm Credit Banks Funding Corporation, says despite continued lower agricultural commodity prices and global economic challenges, the overall credit quality of the System’s loan portfolio remained favorable.
The agricultural lender’s net income for the first six months of 2016 increased by more than three percent to $2.3 Billion dollars. Net interest income increased by almost six percent and average earning assets increased by almost 10 percent.
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