AgriBank | Jotup

AgriBank Reports Fourth Quarter 2023 and Year-End Financial Results

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Friday, March 1, 2024

Livestock, Weather, Poultry, Investment, Risk management, Growth, NFI, Government, Projection, AgriBank, Economic Research Service, ROA, USDA, Bank

ST. PAUL, Minn., March 1, 2024 /PRNewswire/ -- Today, St. Paul-based AgriBank announced financial results for the fourth quarter and full year of 2023, with strong profitability, credit quality, and liquidity and capital.

Key Points:

ST. PAUL, Minn., March 1, 2024 /PRNewswire/ -- Today, St. Paul-based AgriBank announced financial results for the fourth quarter and full year of 2023, with strong profitability, credit quality, and liquidity and capital.
Credit quality: Total loan portfolio credit quality remained strong, with 99.4 percent of loans classified as acceptable at December 31, 2023.
"We are pleased to report that AgriBank completed the year with strong financial performance, which reflects the effectiveness of our business model and the Farm Credit lenders we support," said Jeffrey Swanhorst, AgriBank chief executive officer.
Total loans were $148.7 billion at December 31, 2023, an increase of $15.3 billion, or 11.4 percent, compared to December 31, 2022.

Phoenix Capital Group Acquires Nearly 600,000 Net Mineral Acres From AgWest Farm Credit

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Monday, January 15, 2024

Professional Services, Oil, Gas, Agriculture, Energy, Finance, Natural Resources, Sales, AgriBank, Kruk, Sale, Acquisition, Capital Group Companies, Running, Development, Mineral

Phoenix Capital Group has acquired nearly 600,000 net mineral acres from AgWest Farm Credit.

Key Points:

Phoenix Capital Group has acquired nearly 600,000 net mineral acres from AgWest Farm Credit.
The cash flow for 2023 reached $2.47 million, and this figure is expected to experience substantial growth as Phoenix Capital Group further develops the acreage.
Justin Arn, Chief Land and Title Officer at Phoenix Capital Group, commented on the acquisition, stating, "When Phoenix Capital Group discovered that AgWest Farm Credit was considering divestment of its mineral and royalty assets, our team swung into action.
Tom Kruk, VP, Mineral Acquisitions and Partner at Phoenix Capital Group, was first informed about the land sale by the Director of Minerals Management at Agribank, the entity managing minerals for AgWest Farm Credit.

AgriBank to Redeem Preferred Stock on January 1, 2024

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Monday, November 13, 2023

Risk, AgriBank, Security (finance)

ST. PAUL, Minn., Nov. 13, 2023 /PRNewswire/ -- Today, AgriBank announced that it will redeem all of its issued and outstanding shares of series A non-cumulative perpetual preferred stock , par value $100 per share, on January 1, 2024, in accordance with the terms of the preferred stock.

Key Points:

ST. PAUL, Minn., Nov. 13, 2023 /PRNewswire/ -- Today, AgriBank announced that it will redeem all of its issued and outstanding shares of series A non-cumulative perpetual preferred stock , par value $100 per share, on January 1, 2024, in accordance with the terms of the preferred stock.
AgriBank will continue to hold capital commensurate with its risk through common stock purchased by AgriBank District Associations and has no intention to issue additional preferred stock in conjunction with this redemption.
The preferred stock will be redeemed at a redemption price of $100 per share in accordance with the terms of the preferred stock.
For more information, holders of the securities may contact Luis Sahmkow, SVP-Treasurer at AgriBank, (651) 282-8765.

AgriBank Reports Third Quarter 2023 Financial Results

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Thursday, November 9, 2023

NFI, Economic Research Service, Bank, Risk management, USDA, Investment, Government, Growth, AgriBank, Weather, Farmer, ROA, Environment, Livestock, Poultry, Farm Credit System, Cryptocurrency

ST. PAUL, Minn., Nov. 9, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank announced financial results for the third quarter of 2023, with strong profitability, credit quality, and liquidity and capital.

Key Points:

ST. PAUL, Minn., Nov. 9, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank announced financial results for the third quarter of 2023, with strong profitability, credit quality, and liquidity and capital.
Credit quality: Total loan portfolio credit quality remained strong, with 99.4 percent of loans classified as acceptable at September 30, 2023.
"AgriBank has continued to produce strong financial results through the first nine months of the year," said Jeffrey Swanhorst, AgriBank chief executive officer.
The U.S. Department of Agriculture's Economic Research Service (USDA-ERS) updated its 2023 forecast of the U.S. aggregate farm income and financial conditions on August 31, 2023.

AgriBank Pays Quarterly Preferred Stock Dividend

Retrieved on:

Sunday, October 1, 2023

Growth, Bank, La règle de non-cumul, AgriBank, Clothing, Security (finance)

ST. PAUL, Minn., Oct. 1, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank paid a quarterly cash dividend of $1.7188 per share on its 6.875 percent non-cumulative perpetual class A preferred stock to holders of record as of September 1, 2023.

Key Points:

ST. PAUL, Minn., Oct. 1, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank paid a quarterly cash dividend of $1.7188 per share on its 6.875 percent non-cumulative perpetual class A preferred stock to holders of record as of September 1, 2023.
AgriBank issued $250 million of preferred stock on Oct. 29, 2013 to provide the Bank and the 15-state Farm Credit District it serves with long-term access to high-quality capital, helping ensure the District is well-positioned to meet the long-term growth and credit needs of farmer and rancher customers.

AgriBank Reports Second Quarter 2023 Financial Results

Retrieved on:

Wednesday, August 9, 2023

U.S. Department of Defense Strategy for Operating in Cyberspace, Economic Research Service, Poultry, Farmer, Risk management, Livestock, Government, Projection, ROA, Investment, USDA, AgriBank, Chicago and Northern District Association of Colored Women's Clubs, Weather, Environment, Farm Credit System, NFI, Cryptocurrency, Bank

ST. PAUL, Minn., Aug. 9, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank announced financial results for the second quarter of 2023, with strong profitability, credit quality, and liquidity and capital.

Key Points:

ST. PAUL, Minn., Aug. 9, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank announced financial results for the second quarter of 2023, with strong profitability, credit quality, and liquidity and capital.
"AgriBank has remained financially resilient through the volatile macroeconomic conditions we continue to experience," said Jeffrey Swanhorst, AgriBank chief executive officer.
"Our cooperative network, which includes AgriBank and the Farm Credit lenders we support, continues to maintain the financial strength to provide farmers, ranchers and other borrowers the competitive credit and financial services they expect from us."
Although still in an overall unrealized loss position, unrealized gains during the first quarter in the investment portfolio, paired with unrealized gains in the derivative portfolio during the second quarter, positively impacted equity through the first half of 2023.

AgriBank Pays Quarterly Preferred Stock Dividend

Retrieved on:

Saturday, July 1, 2023

Growth, Bank, La règle de non-cumul, AgriBank, Cryptocurrency, Security (finance)

ST. PAUL, Minn., July 1, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank paid a quarterly cash dividend of $1.7188 per share on its 6.875 percent non-cumulative perpetual class A preferred stock to holders of record as of June 1, 2023.

Key Points:

ST. PAUL, Minn., July 1, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank paid a quarterly cash dividend of $1.7188 per share on its 6.875 percent non-cumulative perpetual class A preferred stock to holders of record as of June 1, 2023.
AgriBank issued $250 million of preferred stock on Oct. 29, 2013 to provide the Bank and the 15-state Farm Credit District it serves with long-term access to high-quality capital, helping ensure the District is well-positioned to meet the long-term growth and credit needs of farmer and rancher customers.

AgriBank Pays Quarterly Preferred Stock Dividend

Retrieved on:

Saturday, April 1, 2023

Growth, Bank, La règle de non-cumul, AgriBank, Clothing, Security (finance)

ST. PAUL, Minn., April 1, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank paid a quarterly cash dividend of $1.7188 per share on its 6.875 percent non-cumulative perpetual class A preferred stock to holders of record as of March 1, 2023.

Key Points:

ST. PAUL, Minn., April 1, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank paid a quarterly cash dividend of $1.7188 per share on its 6.875 percent non-cumulative perpetual class A preferred stock to holders of record as of March 1, 2023.
AgriBank issued $250 million of preferred stock on Oct. 29, 2013 to provide the Bank and the 15-state Farm Credit District it serves with long-term access to high-quality capital, helping ensure the District is well-positioned to meet the long-term growth and credit needs of farmer and rancher customers.

AgriBank Reports Fourth Quarter 2022 and Year-End Financial Results

Retrieved on:

Thursday, March 2, 2023

ST. PAUL, Minn., March 2, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank announced financial results for the fourth quarter and full year of 2022, with strong profitability, credit quality, and liquidity and capital.

Key Points:

ST. PAUL, Minn., March 2, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank announced financial results for the fourth quarter and full year of 2022, with strong profitability, credit quality, and liquidity and capital.
Profitability: Net income remained strong at $790.7 million for the year ended December 31, 2022.
"AgriBank's strong net income for 2022 reflects the strong financial performance by the Farm Credit lenders we support," said Jeffrey Swanhorst, AgriBank chief executive officer.
Total loans were $133.5 billion at December 31, 2022, an increase of $11.5 billion, or 9.4 percent, compared to December 31, 2021.

AgriBank Pays Quarterly Preferred Stock Dividend

Retrieved on:

Sunday, January 1, 2023

Annual report, Uncertainty, Farm Credit System, Agriculture, Farm Credit Bank of Texas, AgriBank, Growth, Multimedia, La règle de non-cumul, Bank, Security (finance)

ST. PAUL, Minn., Jan. 1, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank paid a quarterly cash dividend of $1.7188 per share on its 6.875 percent non-cumulative perpetual class A preferred stock to holders of record as of Dec. 1, 2022.

Key Points:

ST. PAUL, Minn., Jan. 1, 2023 /PRNewswire/ -- Today, St. Paul-based AgriBank paid a quarterly cash dividend of $1.7188 per share on its 6.875 percent non-cumulative perpetual class A preferred stock to holders of record as of Dec. 1, 2022.
AgriBank issued $250 million of preferred stock on Oct. 29, 2013 to provide the Bank and the 15-state Farm Credit District it serves with long-term access to high-quality capital, helping ensure the District is well-positioned to meet the long-term growth and credit needs of farmer and rancher customers.
AgriBank is part of the customer-owned, nationwide Farm Credit System.
Under Farm Credit's cooperative structure, AgriBank is primarily owned by local Farm Credit Associations, which provide financial products and services to rural communities and agriculture.