NWFCS Reports Year-Over-Year Quarter Earnings

Northwest Farm Credit Services, announced Monday 2019 third quarter earnings of $73.4 million, which is off from the $76.0 million reported during the same quarter of 2018.  NWFCS Total capital increased 4.1% during the first nine months of the year to $2.6 billion.

 

“Our financial performance in 2019 remains strong and on track with our expectations,” said Phil DiPofi, President and CEO. “The majority of our customers across the Pacific Northwest are experiencing a reasonable year despite pockets of continuing trade, political and weather-related challenges.”

Earnings for the nine months ended September 30th came in at $206.7 million, slightly below the $220.5 million reported a year earlier.

 

The nine months ended Sept. 30, 2018, included an additional patronage distribution from CoBank and a larger refund of premiums previously paid to the Farm Credit System Insurance Corporation, which were the primary contributors to the change in net income.

 

 

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