Newsroom & Financials

CoBank is a cooperatively organized financial services institution capitalized primarily by eligible borrowers, who earn equity over time commensurate with the amount of business they do with the organization. We are also capitalized by our preferred stockholders.

CoBank does not have publicly traded common stock and is not a registrant with the Securities and Exchange Commission. However, as a regulated member of the Farm Credit System, the bank releases its financial results on a quarterly basis, similar to a public company. Our financial statements are designed to provide customer-owners and other stakeholders with an accurate, transparent view of CoBank’s ongoing financial performance.

For copies of previously issued news releases, financial statements and bank publications, please click on the links at right.

Webinar on Capital Plan and Patronage Program Changes for Customer-Owners
CoBank held a webinar about the capital plan and patronage program changes for all active borrowers on Wednesday, August 30, 2017. On the call, CoBank Board Chairman Everett Dobrinski, Chief Executive Officer Tom Halverson and Chief Financial Officer David Burlage provided further detail about the changes. A recording of the webcast can be accessed here.

Year-End Earnings Webcast Information:
CoBank held a conference call and webcast on Tuesday, March 7, 2017 to discuss year-end financial results. The call featured remarks from CoBank Chief Executive Officer Tom Halverson, Chief Financial Officer David Burlage and Board Chairman Everett Dobrinski. A recording of the webcast can be accessed here.


Recent News

  • Cage-Free Egg Pledges Yielding to Market Reality

    Posted 12/15/2017

    Food company commitments recently pushed cage-free egg production to new heights, but U.S. egg markets are returning to more normal production growth, producer profitability and specialty egg premiums, according to a new report from CoBank’s Knowledge Exchange Division.

    “The avian flu outbreak in 2015 caused egg prices to climb and incentivized egg producers to boost output. Coincidentally, 229 major food companies pledged to use cage-free eggs by 2025 just as egg prices went into freefall,” said Trevor Amen, CoBank animal protein economist. “Since then, cage-free production has surged amidst a surplus of inexpensive, conventionally produced eggs.”

    This oversupply has depressed demand for higher priced cage-free eggs, a condition that’s expected to last for the next several months as the conventional supply draws down.

  • Rural Electric Cooperatives to Benefit from Late Adoption of Electric Vehicles

    Posted 12/14/2017

    Urban centers across the country are experiencing strong growth in electric vehicles, driven by high customer satisfaction and financial subsidies. However, the same level of interest has not translated to rural America, where range anxiety is a valid concern according to a new report from CoBank’s Knowledge Exchange Division.

    Until electric vehicles can travel a minimum of 200 miles on a single charge and are priced similar to internal combustion engine vehicles, adoption in rural communities will likely remain muted.

    “By 2025, penetration of EVs in rural America is expected to remain below one percent, but by the time it reaches three percent of new car sales in rural America, technology will be much better than it is today,” said Taylor Gunn, lead economist with CoBank. “Some rural electric cooperatives will have customers on the edge of urban and suburban America and may want to consider building public infrastructure. But for now – most rural electric cooperatives are unlikely to realize material growth in EVs, limiting any near-term EV-related growth in electricity sales.”

  • CoBank Announces 2018 Board Officers

    Posted 12/14/2017

    CoBank today announced  board officers for 2018.  The CoBank board elects its officers to serve a one-year term commencing January 1 and expiring December 31 each year.

    Kevin Riel will serve as board chair, succeeding longtime board chair Everett Dobrinski. A director since 2014 and first vice chair in 2017, Riel is the president and chief executive officer of Double ‘R’ Hop Ranches, Inc., a diversified farming operation primarily growing hops, together with apples, grapes and row crops, and of Tri-Gen Enterprises, Inc., an agricultural marketing operation, and managing partner of WLJ Investments, LLC, a land holding and management company, all located in Harrah, Washington. He is a former director of Northwest Farm Credit Services, one of CoBank’s affiliated Farm Credit associations, where he served as vice chair and chair, and is board president of the Hop Growers of America, a non-profit association promoting the interests of U.S. growers. 

    Jon Marthedal will serve as first vice chair. Marthedal is the owner and operator of Marthedal Farms in Fresno, California, a grape, raisin and blueberry farming operation. He is also president of Marthedal Enterprises, Inc., a provider of farm management and custom agriculture services, and owner and operator of Keystone Blue Farms, a blueberry farming operation. He serves on the board of The Farm Credit Council.  Marthedal is a director of Sun-Maid Growers of California and of the California Blueberry Commission.  He also serves as president of the California Blueberry Association Board and vice chair of the California Raisin Marketing Board and the Raisin Administrative Committee. Marthedal has served on the CoBank board since 2013, and served as second vice chair in 2017 and as Governance Committee chair in 2016.

    Kevin Still will serve as second vice chair. Still is president and chief executive officer of Co-Alliance, LLP, a partnership of five cooperatives supplying energy, agronomy and animal nutrition, producing swine and marketing grain in Avon, Indiana.  Still is also chief executive officer and treasurer of Midland Co-op, Inc., IMPACT Co-op, Inc., LaPorte County Co-op, Inc., Frontier Co‑op, Inc., and Excel Co-op, Inc., and president of Michiana Agra, LLC, which are agricultural retail cooperatives. He is chair of Local Harvest Food, a food broker, vice president and director of Connexities, LLC, a technology provider, and an advisory board member of Wholestone Farms, a food company.  Still is also an officer of Agronomy Services, LLP, and president of Northwind Pork, LLC, a pork producing operation.  He is the owner and president of Still Farms, LLC, a grain farm. Still has served on the CoBank board since 2002; he has served as the Risk Committee chair since 2008 and served as second vice chair in 2015 and 2016.

  • Growing Global Dairy Demand Sets Stage for US, EU, Oceania Competition

    Posted 12/8/2017

    A growing global demand for milk, coupled with increased production in the U.S., the EU and Oceania, will create aggressive competition for new markets in the future, according to a new report from CoBank’s Knowledge Exchange Division.

    The regions of the world with the most demand growth are also regions where the conditions are unfavorable or challenging for milk production.

    “As global demand for dairy products grows, the established dairy exporters will rely on and fiercely compete for new markets,” said Ben Laine, senior economist with CoBank. “While all exporters will benefit from global demand growth, the EU stands to extend its reach furthest into these markets barring any major shifts by the U.S. to a global market focus.”

  • Meatless Meat Unlikely to Have Significant Impact on Protein Market in the Near-Term

    Posted 12/6/2017

    Protein products derived from plant sources, insects and cultured meats will be among the top food trends to watch in the coming years. The effect of these efforts on livestock and poultry demand is not expected to be significant in the foreseeable future, according to a new report from CoBank’s Knowledge Exchange Division.

    Cultured meat developers are in a race to match price and quality to traditional meat offerings. Products currently in development are prohibitively expensive and years away from widespread commercial viability.

    “The future success of alternative meat lies squarely with rising global demand for protein rather than a battle for the existing market share of animal protein food products,” said Trevor Amen, an economist with CoBank. “The road to commercial viability and consumer acceptance of cultured meat is long and this type of product is unlikely to have a marked effect on traditional animal protein demand through at least the next decade.”

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