SPOKANE — The annual earnings for agricultural lender Northwest Farm Credit Services increased 26.5 percent to $236.9 million last year.
Total capital increased 12.2 percent during the year to $1.8 billion, the association said in a press release.
“2013 was another year of overall strong performance for Northwest agriculture and our association,” Phil DiPofi, Northwest FCS President and CEO said in a statement. “Significant reductions of our non-performing loans and the continued growth and diversity of our lending portfolio contributed to our earnings and capital.”
Northwest FCS provides financing and related services to farmers, ranchers and other agribusinesses in Montana, Idaho, Oregon, Washington and Alaska.
Northwest FCS is a member of the Farm Credit System, a nationwide network of borrower-owned lending institutions that provide approximately $194 billion in loans to rural America.