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Compeer Financial Announces Inaugural Year-End Report
USAgNet - 03/12/2018

Compeer Financial has ended its first fiscal year in strong financial standing. The Farm Credit cooperative--which was established when Badgerland Financial, AgStar Financial Services and 1st Farm Credit Services all joined forces in July 2017--reports net after-tax earnings of $264.9 million for the year, with year-end assets totaling more than $19.5 billion.

Company officials say Compeer's credit quality remains sound with only a half-percent nonaccrual loans. Total regulatory capital also remains well above industry standards at 15.1-percent, creating a strong foundation to support clients while working through the difficult industry economics.

"In July 2017, three Farm Credit cooperatives united with a shared purpose to strengthen our commitment to advance agriculture and to serve rural communities like never before," said CEO Rod Hebrink. "In these first six months of Compeer Financial, our financial results have been positive, by creating a diverse portfolio in a wider marketplace, all while sustaining credit quality."

Hebrink adds that the co-op's strong financial performance, stable credit quality, and a sound capital position allowed Compeer Financial to approve patronage allocation payments of $118.6 million to nearly 39,000 member-owners and they look forward to sharing cash patronage for 2017 business later this summer.

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