Spokane Journal of Business

Northwest Farm Credit posts rise in capital, net income

Earnings remains down for first half of the year

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Northwest Farm Credit Services, the Spokane-based agricultural lending cooperative, has reported second-quarter earnings of $57.9 million, up 3 percent from $56.1 million in net income during the year-earlier period. 

As of the end of the second quarter, total capital at the cooperative had increased 3 percent, to $2.1 billion. 

The second-quarter gains, however, didn’t make up for Northwest Farm Credit’s dip in earnings during the first quarter. Consequently, for the sixth-month period ending June 30, the co-op’s net income came in at $116.3 million, down from $119.2 million in the first six months of 2015. 

Phil DiPofi, president and CEO of Northwest Farm Credit, says in a press release that most of the co-op’s customer-members are experiencing good growing conditions and positive returns, which has accounted for growth in its loan portfolio. 


Linn  Parish
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Editor Linn Parish has worked for newspapers and magazines since 1996, with the bulk of that time being at the Journal. A Montana boy who has called Spokane home for some time now, Linn likes Northwest trails, Deep South foods, and lead changes in the ninth inning.

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