Northwest Farm Credit Services, recently announced 2018 third quarter earnings of $76.0 million, which is much higher than the $67.8 million reported during the same quarter of 2017. Earnings for the nine months ended Sept. 30, 2018, were $220.5 million, a 17.4% increase, compared to $187.8 million for the same period last year. Total capital increased 5.9% during the first nine months of the year to $2.5 billion.
“The financial performance of our lending and crop insurance operations continues to be strong, as a reflection of the success of our customer-members,” said President and CEO Phil DiPofi. “Increased association earnings over last year are primarily the result of continued loan growth, an additional patronage distribution from CoBank and a refund of premiums previously paid to the Farm Credit System Insurance Corporation.”
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