FOR IMMEDIATE RELEASE

Northwest Farm Credit Services Reports Third Quarter Earnings

Spokane, Wash. - Nov. 2, 2015 – Northwest Farm Credit Services, the Northwest’s largest agricultural lending cooperative, announced earnings for the nine months ended September 30, 2015 of $185.8 million, an increase of $12.4 million, or 7.1 percent compared to the same period of the prior year. Increased earnings were primarily the result of continued growth in the loan portfolio.

“2015 is shaping up to be another strong year of financial performance for our organization,” said President and CEO Phil DiPofi. “However, we’re seeing greater commodity price volatility and economic stress from weather-related events throughout the Northwest. As we work with our customers to prepare for the next growing season, we anticipate seeing more challenging operating situations for some. Overall, producers are in relatively strong financial positions due to several recent good years for agriculture.” 

For more information about current market conditions, see Northwest FCS Industry Insights.

Northwest FCS is a financial cooperative providing financing and related services to farmers, ranchers, agribusinesses, commercial fishermen, timber producers, rural homeowners and crop insurance customers in Montana, Idaho, Oregon, Washington and Alaska. Northwest FCS provides approximately $13 billion in loans and is a member of the Farm Credit System, a nationwide network of borrower-owned lending institutions that provide approximately $221 billion in loans to rural America. For more information, go to northwestfcs.com.

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Contact
Jennifer Rohrer
Media Relations Coordinator
509-340-5303 or jennifer.rohrer@northwestfcs.com