ABA: Farm lending rose nearly 6 percent in ’17
BUSINESS RECORD STAFF Apr 3, 2018 | 3:49 pm
<1 min read time
86 wordsAg and Environment, All Latest NewsU.S. farm banks increased agricultural lending by nearly 6 percent, or $5.9 billion, to $106 billion in 2017, the American Bankers Association reported. Nonperforming loans at the 1,847 banks fell to a pre-recession level of 0.52 percent of total loans. More than 96 percent of farm banks were profitable in 2017, with more than 55 percent reporting an increase in earnings. ABA defines farm banks as banks whose ratio of domestic farm loans to total domestic loans is greater than or equal to the industry average.