Annual Report - CoBank

Segment Financial InformationStrategicRelationshipsRuralInfrastructure Subtotal Other Total CoBankAgribusiness2011 Results of Operations ($ in Thousands):Net Interest Income $ 681,370 $ 95,232 $ 300,911 $ 1,077,513 $ (6,486) $ 1,071,027Provision for Loan Losses 37,000 - 21,000 58,000 - 58,000Noninterest Income 77,178 752 42,109 120,039 (2,103) 117,936Operating Expenses 145,752 15,178 67,174 228,104 166 228,270Provision for Income Taxes 137,714 - 60,428 198,142 (2,036) 196,106Net Income $ 438,082 $ 80,806 $ 194,418 $ 713,306 $ (6,719) $ 706,587Selected Financial Information atDecember 31, 2011 ($ in Millions):Loans $ 18,869 $ 15,236 $ 12,180 $ 46,285 $ - $46,285Less: Allowance for Loan Losses (269) - (119) (388) - (388)Net Loans $ 18,600 $ 15,236 $ 12,061 $ 45,897 $ - $45,897Total Assets $ 18,690 $ 15,281 $ 12,121 $ 46,092 $ 17,198 * $63,290*Other assets are comprised of:Investment Securities $12,995Other Assets 4,2032010 Results of Operations ($ in Thousands):Net Interest Income $ 547,102 $ 93,071 $ 315,645 $ 955,818 $ (4,973) $ 950,845Provision for Loan Losses 7,167 - 52,833 60,000 - 60,000Noninterest Income 57,336 801 41,816 99,953 (1,394) 98,559Operating Expenses 117,798 13,426 81,877 213,101 3,109 216,210Provision for Income Taxes 114,226 - 47,155 161,381 (1,954) 159,427Net Income $ 365,247 $ 80,446 $ 175,596 $ 621,289 $ (7,522) $ 613,767Selected Financial Information atDecember 31, 2010 ($ in Millions):Loans $ 22,676 $ 15,392 $ 11,924 $ 49,992 $ - $49,992Less: Allowance for Loan Losses (284) - (116) (400) - (400)Net Loans $ 22,392 $ 15,392 $ 11,808 $ 49,592 $ - $49,592Total Assets $ 22,513 $ 15,439 $ 11,869 $ 49,821 $ 16,005 * $65,826*Other assets are comprised of:Investment Securities $12,617Other Assets 3,3882009 Results of Operations ($ in Thousands):Net Interest Income $ 518,376 $ 113,548 $ 317,064 $ 948,988 $ (3,025) $ 945,963Provision for Loan Losses 39,000 - 41,000 80,000 - 80,000Noninterest Income 61,301 972 25,065 87,338 (2,377) 84,961Operating Expenses 135,346 17,556 65,777 218,679 552 219,231Provision for Income Taxes 116,798 - 50,875 167,673 (1,396) 166,277Net Income $ 288,533 $ 96,964 $ 184,477 $ 569,974 $ (4,558) $ 565,416Selected Financial Information atDecember 31, 2009 ($ in Millions):Loans $ 17,469 $ 15,271 $ 11,434 $ 44,174 $ - $44,174Less: Allowance for Loan Losses (265) - (105) (370) - (370)Net Loans $ 17,204 $ 15,271 $ 11,329 $ 43,804 $ - $43,804Total Assets $ 17,287 $ 15,316 $ 11,383 $ 43,986 $ 14,175 * $58,161*Other assets are comprised of:Investment Securities $11,808Other Assets 2,367CoBank 2011 Annual Report103