CoBank Reports 2023 Year-end Financial Results

DENVER (February 23, 2024) — CoBank, ACB has released its year-end 2023 financial results. The news release is available on CoBank.com under Corporate → Financial Information.

Financial highlights for the fourth quarter 2023 include:

• Average loan volume increased 5% to $143.1 billion in 2023, from $136.9 billion in 2022.
• Net income increased 4% to a record $1.507 billion in 2023, up from $1.449 billion in 2022.
• Credit quality and capital levels remained strong.
• Patronage distributions for the year will total $965 million.

The bank will hold its annual year-end earnings conference call and webcast at 12:30 p.m. Mountain Time on Tuesday, February 27, 2024. To join the earnings call, go to https://www.cobank.com/2023EarningsWebinar.

Read the Release

About CoBank

CoBank is a cooperative bank serving vital industries across rural America. The bank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states. The bank also provides wholesale loans and other financial services to affiliated Farm Credit associations serving more than 77,000 farmers, ranchers and other rural borrowers in 23 states around the country.

CoBank is a member of the Farm Credit System, a nationwide network of banks and retail lending associations chartered to support the borrowing needs of U.S. agriculture, rural infrastructure and rural communities. Headquartered outside Denver, Colorado, CoBank serves customers from regional banking centers across the U.S. and also maintains an international representative office in Singapore.