Farm Credit Mid-America Condition and Performance
By: Rae Ju, a Ph.D. student, Charles Smith, an undergraduate student, and Ani L. Katchova, Professor and Farm Income Enhancement Chair in the Department of Agricultural, Environmental, and Development Economics at The Ohio State University.
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- Farm Credit Mid-America (FCMA) is an important agricultural credit institution in the Farm Credit System, providing agricultural loans, insurance, and leasing to the agricultural sector.
- FCMA’s total loan portfolio consisted of several types of loans: 62.9% of real estate mortgage loans, followed by 17.4% of production and intermediate loans and 12.2% of agribusiness loans in 2022.
- FCMA’s total percentage of risk loans fell from 1.66% in 2017 to 0.81% in 2022.
- FCMA’s net interest income continuously increased, reaching $615 million in 2022, aligning with an upward trend in net income that reached $457 million in 2022.
- FCMA’s net interest margin remained relatively stable, remaining at 2.2% from 2018 to 2020, with a slight decline to 2.1% in 2021 and remained the same in 2022.