December 25, 2014 4:11 PM ET

Banks

Company Overview of Cobank Acb

Company Overview

CoBank, ACB, a cooperative bank, provides loans, leases, and other financial services to industries in the United States. The company operates in three segments: Agribusiness, Strategic Relationships, and Rural Infrastructure. It offers loans to finance current or seasonal assets, inventories, accounts receivable, commodities, and other short-term loans; and to the construction of new facilities, remodeling or expanding existing facilities, purchase of land or equipment, mergers and acquisitions, long-term assets, and working capital, as well as offers pension prepayment loan programs. The company also provides lease financing solutions for transportation vehicles, such as pickups, vans, and...

5500 South Quebec Street

Greenwood Village, CO 80111

United States

Founded in 1916

814 Employees

Phone:

303-740-4000

Key Executives for Cobank Acb

Chief Executive Officer and Member of Asset & Liability Committee
Age: 60
President and Member of Asset & Liability Committee
Age: 58
Chief Financial Officer and Chairman of Asset & Liability Committee
Age: 51
Chief Operating Officer and Member of Asset & Liability Committee
Age: 57
Southern Region President of Regional Agribusiness Banking Group
Compensation as of Fiscal Year 2014.

Cobank Acb Key Developments

CoBank Announces Earnings Results for the Third Quarter and Nine Months of 2014

CoBank announced earnings results for the third quarter and nine months of 2014. For the quarter, net income increased 8% to $224.7 million, from $208.1 million in the third quarter of 2013, largely due to stronger net interest income. Net interest income rose 8% to $299.2 million, compared to $276.4 million in the same period last year. For the first nine months of 2014, net income increased 10% to $688.9 million, primarily as a result of increased net interest income and improvements in credit quality. The bank recorded a $25.0 million loan loss reversal, compared to a $20.0 million provision in the same period last year. Net interest income increased 5% to $919.5 million. The increases were driven primarily by higher loan volume as well as improved earnings from the bank’s balance sheet positioning.

CoBank Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

CoBank reported earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company's net income was $233 million, compared to $212 million for the same quarter ended June 30, 2013. Net interest income for the second quarter ended June 30, 2014 was $311 million, compared to of $297 million for the same quarter ended June 30, 2013. Net income for the six months ended June 30, 2014 was $464 million, compared to $421 million for the same period ended June 30, 2013. Net interest income for the six months ended June 30, 2014 was $620 million, compared to $599 million for the same period ended June 30, 2013.

CoBank and US Department of Agriculture Announce New Public-Private Partnership

CoBank has joined with the US Department of Agriculture in the formation of a new public-private partnership focused on infrastructure investment in rural America. The new 'US Rural Infrastructure Opportunity Fund' will serve as a source of private-sector capital to partner with USDA on wide variety of infrastructure projects in rural communities. CoBank will act as anchor investor and has committed $10 billion of balance sheet capacity to co-lend with the fund. CoBank's co-investments with the fund are designed to complement existing government loan and grant programs. The fund's investment activities will include: recruiting new sources of private capital to support rural infrastructure projects; serving as a co-lender for borrowers financing projects where the government's program limits or resource constraints warrant the fund's involvement; and, private lending in support of projects capable of meeting market terms. Target investments will include rural community facilities, water and wastewater systems, rural energy projects and rural broadband. The fund will be managed by Capitol Peak Asset Management, an independent asset management firm. CoBank will have the opportunity to review and approve each transaction individually, on a case-by-case basis. Loans made by CoBank side-by-side with the fund will remain on CoBank's own balance sheet or be syndicated to Farm Credit institution partners, and will be supplemented by additional capital provided by investors brought in by the fund manager, including pension funds, endowments, sovereign wealth funds and other institutional investors. CoBank may also act as the servicer of some loans made through the fund.

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