Farm Credit Bank of Texas Reports First Quarter Financial Results


AUSTIN, Texas – Farm Credit Bank of Texas (FCBT) reported strong growth in its earnings and assets in the first quarter of 2021.

First-quarter net income totaled $66.0 million, a 30.7% increase compared with the same period last year. Net interest income for the quarter totaled $94.1 million, a 31.7% increase year over year.

“The bank’s earnings benefited from strong loan demand and the interest rate environment,” said Amie Pala, FCBT chief executive officer. “Our average earning assets grew $1.4 billion in the first quarter as historically low interest rates continued to attract borrowers. We’ve also taken advantage of low rates to reduce the cost of our debt.”

Total assets increased 2.3% in the first quarter to $28.9 billion at March 31, 2021. Total loan volume increased 3.6% to $22.6 billion. Credit quality remained strong, with 100.0% of loans classified as acceptable or special mention.

As a cooperatively owned wholesale bank, Farm Credit Bank of Texas provides funding and support services to 14 Farm Credit lending cooperatives — also called associations — and two other financing institutions. The bank also participates with other lenders in capital markets loans to agribusinesses and rural infrastructure providers.

“The associations provide credit and financial services to farmers, ranchers, rural homeowners, landowners and agribusinesses,” FCBT Board Chair Jimmy Dodson said. “We’re seeing strong growth all across our five-state district.”

The bank carries ample cash and liquidity investments to meet its operational needs — and those of the associations and their borrowers. At the end of the first quarter, it had $5.7 billion in cash and investments, $2.1 billion in shareholders’ equity and a total regulatory capital ratio of 15.03%. 

By providing reliable and consistent access to credit, the bank continues to fulfill its mission to support agriculture and rural communities during these unprecedented times as the COVID-19 pandemic evolves.

The bank is part of the Farm Credit System, a nationwide network of cooperatives established in 1916. The System reported combined net income of $1.7 billion for the three months ending March 31, 2021, compared with $1.4 billion for the same period last year.

These financial results are preliminary and unaudited. The bank will post its 2021 first quarter report at

FCBT Q1 Financial Data 2021


Michael Bares
Communications Director
Corporate Communications

(512) 483-9203

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