Minnesota Ag Connection - Compeer Financial Posts Record Income During First Quarter

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Compeer Financial Posts Record Income During First Quarter
Minnesota Ag Connection - 05/17/2018

The Sun Prairie-based Compeer Financial announced financial results for the first quarter of 2018, including record income, stable credit quality, and solid liquidity and capital.

The cooperative reported net after-tax earnings of $102.9 million for the first three months of the year. It also ended the quarter with total assets of more than $19.5 billion.

"In July 2017, three Farm Credit cooperatives united with a shared purpose to strengthen our commitment to advance agriculture and to serve rural communities like never before," said Compeer CEO Rod Hebrink. "Since merger we have distributed over $160 million of capital to member-owners demonstrating our commitment to a strong patronage program. The Board of Directors, leadership and team members of Compeer Financial know that what we've achieved so far is just the start of how we will continue to champion rural America."

Compeer was formed when 1st Farm Credit Services, AgStar Financial Services and Badgerland Financial joined forces last summer.

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