Northwest Farm Credit Services, the Spokane-based agricultural lending cooperative, has reported third-quarter earnings of $62.7 million, down almost 6 percent from $66.6 million in the year-earlier quarter. 

The co-op’s net income for the first three quarters of the year came in at $179.1 million, down from $185.8 million for the year-earlier period. 

The co-op’s financial report attributed the decrease in net income to fewer credit loss reversals and lower net interest income.

Phil DiPofi, the cooperative’s CEO, said in a recent press release that the association’s financial performance is still strong, with earnings levels remaining as expected and capital continuing to grow.

As of Sept. 30, total members’ equity at the cooperative had increased 5.2 percent to $2.2 billion compared with a year earlier.