Farm Banking

Farm Banks Strong

The banking industry continues to be the major source of agricultural credit, providing more than half of all outstanding farm loans, according to the American Bankers Association’s annual Farm Bank Performance Report.

 

The nation’s 2,185 farm banks increased farm and ranch lending $3.8 billion or 5.6 percent in 2011, for a total outstanding balance of $72.3 billion. “The growth in farm loans shows banks continue to meet the credit needs of both large and small farms and remain the most important supplier of agricultural credit,” said John Blanchfield, senior vice president and director of ABA’s Center for Agricultural & Rural Banking.

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