CoBank Q1 income rises alongside loan volume

Average loan volume up 11% due to increased borrowing from Farm Credit associations and customers at food and ag businesses.

CoBank, a cooperative bank serving agribusinesses, rural infrastructure providers and Farm Credit associations throughout the U.S., announced financial results for the first quarter of 2016.

Net income for the quarter was $243.3 million, a 5% increase from $232.2 million in the first quarter of 2015, primarily resulting from higher net interest income but partially offset by increased operating expenses.

Net interest income for the quarter rose 7% to $336.9 million, from $31

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