Annual Report - CoBank

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CERTIFICATIONI, David P. Burlage, Chief Financial Officer of CoBank, ACB (CoBank or the Bank), a federally chartered instrumentality underthe Farm Credit Act of 1971, as amended, certify that:(1) I have reviewed this annual report of CoBank;(2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material factnecessary to make the statements made, in light of the circumstances under which such statements were made, not misleadingwith respect to the period covered by this report;(3) Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in allmaterial respects the financial condition, results of operations, and cash flows of CoBank as of, and for, the periods presentedin this report;(4) CoBank’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and proceduresand internal control over financial reporting for CoBank and have:a. designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designedunder our supervision, to ensure that material information relating to the Bank, including its consolidated subsidiary, ismade known to us by others within those entities, particularly during the period in which this report is being prepared;b. designed such internal control over financial reporting, or caused such internal control over financial reporting to bedesigned under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generally accepted accounting principles;c. evaluated the effectiveness of the Bank’s disclosure controls and procedures and presented in this report our conclusionsabout the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report basedon such evaluation; andd. disclosed in this report any change in the Bank’s internal control over financial reporting that occurred during the Bank’smost recent fiscal quarter (the Bank’s fourth fiscal quarter in the case of this annual report) that has materially affected,or is reasonably likely to materially affect, the Bank’s internal control over financial reporting; and(5) CoBank’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financialreporting, to the Bank’s auditors and the audit committee of the Bank’s Board of Directors (or persons performing theequivalent functions):a. all significant deficiencies and material weaknesses in the design or operation of internal control over financial reportingwhich are reasonably likely to adversely affect the Bank’s ability to record, process, summarize, and report financialinformation; andb. any fraud, whether or not material, that involves management or other employees who have a significant role in theBank’s internal control over financial reporting./s/ DAVID P. BURLAGEDavid P. BurlageChief Financial OfficerDated: March 1, 2012CoBank 2011 Annual Report143
LeadershipCoBank, ACBRobert B. Engel, President and Chief Executive OfficerMary E. McBride, Chief Banking OfficerAgribusinessAmy H. Gales, Regional Agribusiness Banking Group*Robert E. Egerton, Agribusiness Division – EastMichael W. Hechtner, Agribusiness Division – CentralMark C. Nonnenmacher, Agribusiness Division – WestLynn M. Scherler, Agribusiness Division – SouthJonathan B. Logan, Corporate Agribusiness Banking GroupLeili Ghazi, Agricultural Export Finance DivisionRural InfrastructurePaul A. Narduzzo, Rural Infrastructure Banking GroupBrett A. Challenger, Energy and Water Services Banking DivisionCandace A. Roper, Electric Distribution Banking DivisionTodd E. Telesz, Power Supply Banking DivisionRobert F. West, Communications Banking DivisionBanking ServicesAntony M. Bahr, Banking Services GroupBrian J. Klatt, Capital Markets DivisionRussell D. Nelson, Farm Credit Leasing Services Corporation**Leonard G. Sahling, Knowledge Exchange DivisionRichard A. Scholz, Non-Credit Services DivisionAnn E. Trakimas, Chief Operating OfficerFinanceDavid P. Burlage, Chief Financial OfficerTimothy D. Steidle, Treasury DivisionMichael R. Vestal, Controller DivisionBusiness Support ServicesJohn Svisco, Chief Administrative OfficerJames R. Bernsten, Chief Information OfficerArthur C. Hodges, Jr., Corporate Communications DivisionStephen B. Secor, Operations DivisionTodd E. Wilson, Enterprise Solutions and Services DivisionRegulatory, Legislative and ComplianceAndrew D. Jacob, Regulatory, Legislative and ComplianceL. Todd VanHoose, Government AffairsLegalGregory J. Buehne, General CounselAndrew J. Romanow, Deputy General CounselHuman ResourcesRobert L. O’Toole, Senior Vice PresidentDouglas E. Wilhelm, Chief Risk OfficerRodney A. Brown, Asset Review DivisionGary M. Fitzgerald, Internal Audit DivisionKatia V. Hoffer, Enterprise Risk ManagementLori L. O’Flaherty, Chief Credit OfficerDaniel L. Key, Credit Approval DivisionRonald P. Seigley, Special Assets Division* The Strategic Relationships operating segment is included in the Regional Agribusiness Banking Group.** Farm Credit Leasing Services Corporation is included in our Agribusiness operating segment.CoBank 2011 Annual Report144
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Everett DobrinskiChairmanRobert B.
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“ We firmly believe the combined
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associations are partnering with Co
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2012 BOARD OF DIRECTORSOccupation:F
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“WE ARE COMMITTEDTO GOOD GOVERNAN
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U.S. AgBank CEO Darryl Rhodes (fron
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KansasNew MexicoUtahFC of Ness City
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CorporateCitizenshipAT COBANKSuppor
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StrategicRelationshipsFarm Credit o
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RegionalAgribusinessBANKING GROUPCe
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CorporateAgribusinessBANKING GROUPK
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ElectricDistributionBANKING DIVISIO
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Power SupplyBANKING DIVISIONTri-Sta
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IndustryPortfoliosCoBank ended 2011
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CoBank is a financially strong,depe
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30COBANK 2011ANNUAL REPORTbuilding
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The information and disclosures con
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Financial Condition andResults of O
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Provision for Loan Losses and Reser
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Purchased services expense decrease
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AgribusinessOverviewThe Agribusines
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Rural InfrastructureOverviewThe Rur
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Credit ApprovalThe most critical el
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Total nonaccrual loans were $134.9
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Basis RiskBasis risk arises due to
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Our net interest income is lower in
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The notional amount of our derivati
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Reputation Risk ManagementReputatio
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Investment Securities ($ in Million
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In accordance with the Farm Credit
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Critical Accounting EstimatesManage
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Business OutlookWe closed our merge
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Consolidated Income StatementsCoBan
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Consolidated Statements of Cash Flo
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Consolidated Statements of Changes
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LoansWe report loans, excluding lea
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If we determine that a derivative n
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Reserve for Credit ExposureThe foll
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The information in the tables under
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The following tables present inform
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At December 31, 2011, gross minimum
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For impaired investment securities,
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At December 31, 2011, the assets of
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Preferred StockThe following table
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The following table provides a summ
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AssumptionsWe measure plan obligati
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Page 99 and 100: Note 11 - Derivative FinancialInstr
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Page 103 and 104: Due to the uncertainty of expected
Page 105 and 106: Assets and Liabilities Measured atF
Page 107 and 108: Note 14 - Segment Financial Informa
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Page 111 and 112: Note 18 - Subsequent Events (Unaudi
Page 113 and 114: Supplemental District Financial Inf
Page 115 and 116: Supplemental District Financial Inf
Page 117 and 118: Report of Independent AuditorsCoBan
Page 119 and 120: Management’s Report on Internal C
Page 121 and 122: Annual Report to Shareholders Discl
Page 123 and 124: Board of Directors Disclosure as of
Page 131 and 132: Senior OfficersCoBank, ACBRobert B.
Page 133 and 134: Senior Officers Compensation Discus
Page 145 and 146: Code of EthicsCoBank, ACBCoBank set
Page 147: CERTIFICATIONI, Robert B. Engel, Pr
Page 151 and 152: OfficeLocationsCoBank National Offi
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Annual Report - CoBank

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