American AgCredit of Santa Rosa posts 52 percent increase in profits

The lending cooperative attributed the boost in profits to its merger with Farm Credit of Southwest Kansas and strong growth in its loan portfolio.|
BILL SWINDELL
THE PRESS DEMOCRAT

American AgCredit of Santa Rosa reported a 52 percent increase in profits in 2017 compared to the previous year.

The company, the nation’s sixth-largest agricultural lending cooperative, said in a Tuesday statement that it had $159.1 million in earnings last year compared to $104.5 million in 2016.

American AgCredit attributed the boost in profits to its merger with Farm Credit of Southwest Kansas and strong growth in its loan portfolio.

The institution said it was able to distribute almost $60 million in cash dividends to its customers last year.

“Our consistent dividend program reflects our financial strength and enables us to return value to our customer owners year after year,” said Vern Zander, American AgCredit’s chief financial officer, in a statement.

Bill Swindell

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