Farm Credit Services of America announces mid-year earnings
OMAHA — Farm Credit Services of America (FCSAmerica), a financial cooperative with more than $19 billion in assets, announced financial results for the first six months of calendar year 2013 Aug. 5.
Net income for the first six months of 2013 was $225.9 million compared to $233.9 million for the same period in 2012, reflecting a decrease of 3.4 percent. The decrease was primarily due to refunds of Farm Credit Insurance Fund premiums that were received in the second quarter of 2012. No refunds have been received in 2013.
Loan volume increased by $201.3 million in the first six months of 2013 to $18.691 billion. Members’ equity increased to $3.449 billion from $3.224 billion at the end of 2012.
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