FARM CREDIT SYSTEM REPORTS FIRST QUARTER 2023 COMBINED RESULTS

May 3, 2023

NEW YORK - The Farm Credit System today reported that combined net income decreased 2.0% to $1.7 billion for the first quarter of 2023, as compared with $1.8 billion for the same period of the prior year.

“The System continued to generate strong earnings during the first quarter of 2023,” remarked Tracey McCabe, President and CEO of the Federal Farm Credit Banks Funding Corporation. “Credit quality remains robust despite ongoing challenges of higher interest rates, inflation and the moderation of commodity prices.” 

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