Farm Credit Bank of Texas reports third-quarter financial results


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

Net income for the nine months ending Sept. 30, 2022, totaled $197.1 million, an increase of 5.5% compared with the same period of 2021. Year-to-date net interest income totaled $291.0 million, an increase of 7.1% year over year. Net interest income benefited from a $5.2 billion increase in the bank’s average earning assets year over year, partially offset by a decrease in net interest rate spread of 12 basis points.

Total loan volume increased 9.0% since the end of 2021 to $28.0 billion at Sept. 30, 2022. This includes a $1.3 billion increase in direct notes to the bank’s affiliated lending institutions and a $1.1 billion increase in loan participations. Total assets increased 6.8% over the same period to $35.3 billion. The loan portfolio’s credit quality remained high, with 99.7% of loans classified as acceptable or special mention.

“Farm Credit System banks fund loans by issuing debt in the capital markets,” said Amie Pala, FCBT chief executive officer. “We also insure our debt and are paying higher premiums than we had anticipated due to rapid loan growth. Despite higher expenses and the volatile interest rate environment, we have continued to grow our earnings and assets this year.”

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 in Alabama, Louisiana, New Mexico, Mississippi and Texas. These lenders 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.

“In addition to funding, the bank provides technology and support services that help its affiliated lending cooperatives meet the needs of their local customers,” said Jimmy Dodson, FCBT board chair. “In the third quarter, a sixth association converted to the bank’s FarmView platform, an integrated suite of products for sales, loan origination and loan servicing.”

At the end of the third quarter the bank had $1.7 billion in shareholders’ equity and a total capital ratio of 13.71%. Cash and investments totaled $6.8 billion, providing ample liquidity and exceeding regulatory requirements.

The bank is part of the Farm Credit System, a nationwide network of rural lending cooperatives established in 1916. The System reported combined net income of $5.4 billion for the nine months ending Sept. 30, 2022, compared with $5.2 billion a year earlier.

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

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


Michael Bares
Communications Director
Corporate Communications

(512) 483-9203

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