Based on its solid earnings and capital position, the Farm Credit Bank of Texas (FCBT) returned $154.2 million in patronage and other dividends, or 78.7 percent of 2017 earnings, to its affiliated lending cooperatives and other patrons at year end.

“Patronage is a unique benefit of doing business with a cooperative,” said Larry Doyle, FCBT chief executive officer. “As a result, the lending institutions that we fund pay no more for funding than the bank pays, and can pass that value along to farmers, ranchers, agribusinesses and other local customers.”

The bank reported record net income of $196 million in 2017 and record loan volume of $17.1 billion at year end. Credit quality remained strong, with 99.7 percent of loans classified as acceptable or special mention.

Capital and liquidity were also strong, providing opportunity for growth and protection from adversity. The bank finished the year with shareholders’ equity of $1.7 billion. Cash and investments totaled $5.4 billion, providing 227 days of liquidity.

Nationally, the Farm Credit System reported combined net income of $5.2 billion in 2017.

–Staff