Farm Credit Bank of Texas reports second-quarter financial results


AUSTIN, Texas – Farm Credit Bank of Texas (FCBT) reported solid earnings, loan growth and credit quality in the second quarter of 2022.

Net income for the six months ending June 30, 2022, totaled $130.8 million, an increase of 1.9% compared with the same period of 2021. This is due to an increase in net interest income and a decrease in provision for credit losses, partially offset by an increase in noninterest expense and a decrease in noninterest income. Year-to-date net interest income totaled $193.3 million, an increase of 4.9% year over year. Net interest income benefited from a $5.5 billion increase in average earning assets since midyear 2021, partially offset by a decrease in net interest rate spread of 15 basis points.

Total assets increased 7.1% from the end of 2021 to $35.4 billion at June 30, 2022, and total loan volume increased 7.8% over the same period to $27.7 billion. The loan portfolio’s credit quality remained high, with 99.8% of loans classified as acceptable or special mention.

“The bank’s loan growth has continued to exceed expectations this year, although the rate of growth has slowed slightly as interest rates have increased,” said Amie Pala, FCBT chief executive officer. “Growth in total loans surpassed what we saw in the first half of 2021. This increase in average interest-earning assets was the driving force behind our strong net interest income.”

Farm Credit Bank of Texas is a cooperatively owned wholesale bank that finances agriculture and rural America. Headquartered in Austin, it funds 14 local lending cooperatives and two other financing institutions so they can make loans to farmers, ranchers, agribusinesses and rural property owners. The bank also participates with other lenders in capital markets loans to agribusinesses and rural infrastructure providers.

“Input costs such as fuel, feed and fertilizer have been increasing for agricultural producers,” said Jimmy Dodson, FCBT board chair. “By fulfilling Farm Credit’s mission, we ensure farmers and ranchers have access to the reliable and consistent credit they need to keep producing food and fiber.”

At the end of the second quarter the bank had $1.8 billion in shareholders’ equity and a total capital ratio of 13.75%. Cash and investments totaled $7.3 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 $3.6 billion for the six months ending June 30, 2022, compared with $3.4 billion for the same period last year.

These financial results are preliminary and unaudited. The bank will post its 2022 second-quarter financial report at

Snapshot of Farm Credit Bank of Texas' second-quarter (2022) financial results


Michael Bares
Communications Director
Corporate Communications

(512) 483-9203

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