Loan losses soften CoBank's Q3 income

CoBank benefiting from diversification of its business as downturn in ag commodity prices persists.

CoBank, a cooperative bank serving agribusinesses, rural infrastructure providers and Farm Credit associations throughout the U.S., announced that net income for the third quarter decreased 2% to $231.7 million, compared to $235.8 million in the third quarter of 2015. For the first nine months of 2016, net income increased 3% to $718.3 million.

The primary reason for the quarter-over-quarter decrease in net income was a $20 million provision for loan losses, compared to no provisio

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