FARM BUSINESS NEWS
FCS Reports 2013 Net Income Growth
Thu Feb 20, 2014 12:14 PM CST

OMAHA (DTN) -- Farm Credit Services of America reported annual net income of $514.6 million for the 2013 calendar year, compared to $481.1 million in 2012, according to a statement released Thursday.

The growth in net income was attributed to "greater net interest income from loan growth and a reduction in the provision for credit losses due to an increase in credit quality, partially offset by a decrease in noninterest income and an increase in noninterest expense."

Loan volume increased to $20.2 billion from $18.5 billion in 2012, FCSAmerica reported, mostly in the long-term real estate portfolio.

Approximately $145 million ...

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