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ST. PAUL, Minn., March 1, 2021 /PRNewswire/ Today, St. Paul-based AgriBank announced financial results for the fourth quarter and full year of 2020, with strong profitability, credit quality, and liquidity and capital.
Highlights:
Profitability: Net income increased $81.6 million, or 13.0 percent, to $709.2 million for the year ended December 31, 2020, compared to $627.6 million for the prior year.
Credit quality: Total loan portfolio credit quality was strong, with 99.3 percent of loans classified as acceptable compared to 97.9 percent at December 31, 2019.
Liquidity and capital: End-of-the-quarter liquidity was 167 days, well above the regulatory requirement. Capital also remained well above the regulatory minimums and company targets.