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Local News - Local News - February 28, 2013
Northwest Farm Credit Services reports record income for 2012
Ag lender attributes rise to loan growth from mix of current, new customers

By Treva Lind
Of the Journal of Business

Northwest Farm Credit Services, the big Spokane-based agricultural lender and crop insurance provider, has reported record net income of $187.3 million for 2012, up from prior-year earnings of $159.2 million, which also were a record.

The association's loan volume grew by 6.2 percent during the year to $9 billion.Meanwhile, nonaccrual loans, on which the association isn't collecting interest, declined 30 percent, ending the year at 1.9 percent of total loans.

Northwes...


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