Farm Credit Bank of Texas Reports Second Quarter 2021 Financial Results


AUSTIN, Texas – Farm Credit Bank of Texas (FCBT) reported solid earnings, positive loan growth and strong credit quality in the second quarter of 2021.

Net income for the three months and six months ending June 30, 2021, totaled $62.4 million and $128.4 million, increases of 7.3% and 18.2% compared with the same periods of 2020. Second quarter and year-to-date net interest income totaled $90.2 million and $184.2 million, increases of 9.1% and 19.6% year over year.

Total loan volume increased 7.2% since the end of 2020 to $23.4 billion at June 30, 2021. Total assets increased 6.8% over the same period to $30.2 billion. Credit quality remained strong, with 99.8% of loans classified as acceptable or special mention.

“The bank surpassed $30 billion in assets for the first time as strong loan demand continued into the second quarter,” said Amie Pala, FCBT chief executive officer. “Growth has been particularly strong in our direct notes to our affiliated lending institutions. These lenders finance agricultural producers, agribusinesses and rural property owners in their local communities.”

As a cooperatively owned wholesale bank, Farm Credit Bank of Texas provides funding and support services to 14 Farm Credit cooperatives — also called associations — and two other financing institutions. The bank also participates with other lenders in loans to businesses that serve agriculture and rural communities.

“Farm Credit was created because access to credit is essential for agriculture and rural communities in good times and bad,” said FCBT Board Chair Jimmy Dodson. “The bank has supported its customers through the uncertainty of the pandemic. Strong earnings and credit quality position us to meet their needs into the future.”

At the end of the second quarter the bank had $2.1 billion in shareholders’ equity and a total capital ratio of 15.31%. Cash and investments totaled $6.3 billion, providing ample liquidity and exceeding regulatory requirements.

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 and $3.4 billion for the three months and six months ending June 30, 2021, compared with $1.4 billion and $2.9 billion a year earlier.

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

2021 Q2 Financial results
2021 Q2 Financial results


Michael Bares
Communications Director
Corporate Communications

(512) 483-9203

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