Northwest Farm Credit Services, the Spokane-based agriculture lending cooperative, has reported a decline in earnings for the second quarter, though it remains ahead of last year’s pace through the first half of this year. 

The organization posted second-quarter net income of $56.1 million, down compared with $63.3 million in the year-earlier period. 

In its quarterly report, Northwest Farm Credit Services attributed the decline in earnings during the quarter primarily to a provision for credit losses during the period, as compared with a credit-loss reversal in the year-earlier period.

For the first six months of 2015, the organization reported earnings of $119.2 million, up from $117.5 million in the year-earlier period.  

That increase is related to a rise in net-interest income, which was partially offset by the provision for credit losses. 

As of June 30, Northwest Farm Credit had $9.77 billion in total loans, which was up from $9.75 billion at the end of 2014.

The organization had total assets, including loans, of $10.2 billion as of June 30, down from $10.25 billion at the end of last year.

In all, Northwest Farm Credit provides about $13 billion in financing and related services to farmers, ranchers, agribusiness, commercial fishermen, timber producers, rural homeowners, and crop insurers. The cooperative is headquartered at 1700 S. Assembly. 

However, late last year it bought the former Ambassador Group’s corporate headquarters building at 2001 S. Flint, near Spokane International Airport, for about $9 million, and it plans to move to the 133,000-square-foot space later this year. 

Elsewhere, the organization has more than 40 branch offices, including 12 in Washington, 11 in Oregon, and 10 in each Idaho and Montana.