July 26, 2014 1:17 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

820 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 Acb Reports Earnings Results for the First Quarter Ended March 31, 2014

Cobank Acb reported earnings results for the first quarter ended March 31, 2014. For the quarter, the company’s net income was $231 million compared to $209 million a year ago. Profitability increased due to higher net interest income, the lack of a provision for loan losses and higher noninterest income. Net interest income was $309 million compared to $302 million a year ago. Higher average loan volume was a key driver of the increase, as were higher earnings derived from the bank's balance sheet positioning.

Cobank Acb Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013

Cobank Acb reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the year, the company reported net interest income of $1,163 million against $1,238 million a year ago. Net income was $856 million against $854 million a year ago. The increase was driven primarily by improvements in credit quality and the fact that no provision for loan losses was recorded in 2013, compared to $70.0 million in provisions in the prior year. Net interest income decreased 6% primarily due to the impact lower interest rates had on the bank's returns on invested capital, its balance sheet positioning and its portfolio of investment securities. For the fourth quarter, net income increased to $227.6 million, from $153.4 million in the same period of the prior year. Net interest income declined 8% during the quarter, to $288.0 million.

Cobank Acb, 2013 Earnings Call, Feb 25, 2014

Cobank Acb, 2013 Earnings Call, Feb 25, 2014

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Recent Private Companies Transactions

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Date
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Private Placement
October 3, 2013
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