Northwest Farm Credit Services, the Spokane-based agricultural lender, has posted earnings of $173 million for the nine months ended Sept. 30, a $2.2 million increase compared with the year-earlier period. 

In a press release, Northwest FCS President and CEO Phil DiPofi said, “Several sectors of the agricultural economy have rebounded in recent years, which has helped strengthen our financial position. Looking ahead, commodity price volatility, reduced exports, and weather-related events will bring new challenges to producers.”

The cooperative also reported a 4 percent increase in net interest income compared with the same nine-month period in 2013, which it attributes mainly to loan growth. The first nine months of 2014 also saw the cooperative’s total capital increase 7.4 percent to $1.9 billion. 

Northwest FCS also reported improved credit quality and credit loss reversals during the first nine months of 2014.  

Northwest FCS provides about $12 billion in financing and related services to farmers, ranchers, agribusiness, commercial fishermen, timber producers, rural homeowners, and crop insurers. The cooperative leases an about 61,000-square-foot space at 1700 N. Assembly here as its headquarters. 

Northwest FCS is part of the nationwide Farm Credit System, a network of borrower-owned lending institutions that provide approximately $201 billion in loans.