Annual Report - CoBank

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StrategicRelationshipsForestProducts 9%Other 13%Nursery, Greenhouses 5%Grains 8%Farm RelatedBusiness Services 13%Dairy 14%Fish, Livestock,Poultry 23%Year-End Loan Volumeby IndustryFruits, Nuts,Vegetables 15%Through its Strategic Relationships operatingsegment, CoBank served as a wholesaleprovider of funds to four affiliated Farm Creditassociations in 2011: Farm Credit East, FarmCredit of Maine, Northwest Farm CreditServices, and Yankee Farm Credit. CoBankalso served as a partner of choice for a numberof other Farm Credit banks and associations,via loan participations and syndications andthrough providing cash management, treasuryproducts, leasing and other non-credit services.Average loan volume in this portfolio was$15.2 billion in 2011.On January 1, 2012, CoBank’s wholesalefinancing business expanded to include 25more Farm Credit associations because of themerger with U.S. AgBank. The average loanvolume of those associations is not included inthis report. For more information on CoBank’snew wholesale district, see the map andinformation on pages 12–13.BUILDING FORTOMORROW27
CoBank is a financially strong,dependable, cooperative bankthat provides credit and financialsolutions to rural America. We areknowledgeable, responsive andcommitted to enhancing our capacityto deliver a superior customerexperience and competitively pricedproducts, while maintaining thesafety and soundness of the bank forfuture generations. We consistentlydemonstrate our focus on ruralAmerica, repeatedly strive to be atrusted advisor for our customersand provide a consistent return ontheir investment and ownershipin CoBank.28COBANK 2011ANNUAL REPORT
Page 4 and 5: Everett DobrinskiChairmanRobert B.
Page 6 and 7: “ We firmly believe the combined
Page 8 and 9: associations are partnering with Co
Page 11 and 12: 2012 BOARD OF DIRECTORSOccupation:F
Page 13 and 14: “WE ARE COMMITTEDTO GOOD GOVERNAN
Page 15 and 16: U.S. AgBank CEO Darryl Rhodes (fron
Page 17 and 18: KansasNew MexicoUtahFC of Ness City
Page 19 and 20: CorporateCitizenshipAT COBANKSuppor
Page 21 and 22: StrategicRelationshipsFarm Credit o
Page 23 and 24: RegionalAgribusinessBANKING GROUPCe
Page 25 and 26: CorporateAgribusinessBANKING GROUPK
Page 27 and 28: ElectricDistributionBANKING DIVISIO
Page 29 and 30: Power SupplyBANKING DIVISIONTri-Sta
Page 31: IndustryPortfoliosCoBank ended 2011
Page 35 and 36: 30COBANK 2011ANNUAL REPORTbuilding
Page 37 and 38: The information and disclosures con
Page 39 and 40: Financial Condition andResults of O
Page 41 and 42: Provision for Loan Losses and Reser
Page 43 and 44: Purchased services expense decrease
Page 45 and 46: AgribusinessOverviewThe Agribusines
Page 47 and 48: Rural InfrastructureOverviewThe Rur
Page 49 and 50: Credit ApprovalThe most critical el
Page 51 and 52: Total nonaccrual loans were $134.9
Page 53 and 54: Basis RiskBasis risk arises due to
Page 55 and 56: Our net interest income is lower in
Page 57 and 58: The notional amount of our derivati
Page 59 and 60: Reputation Risk ManagementReputatio
Page 61 and 62: Investment Securities ($ in Million
Page 63 and 64: In accordance with the Farm Credit
Page 65 and 66: Critical Accounting EstimatesManage
Page 67 and 68: Business OutlookWe closed our merge
Page 69 and 70: Consolidated Income StatementsCoBan
Page 71 and 72: Consolidated Statements of Cash Flo
Page 73 and 74: Consolidated Statements of Changes
Page 75 and 76: LoansWe report loans, excluding lea
Page 77 and 78: If we determine that a derivative n
Page 79 and 80: Reserve for Credit ExposureThe foll
Page 81 and 82: The information in the tables under
Page 83 and 84:
The following tables present inform
Page 85 and 86:
At December 31, 2011, gross minimum
Page 87 and 88:
For impaired investment securities,
Page 89 and 90:
At December 31, 2011, the assets of
Page 91 and 92:
Preferred StockThe following table
Page 93 and 94:
The following table provides a summ
Page 95 and 96:
AssumptionsWe measure plan obligati
Page 97 and 98:
Incentive Compensation PlansWe have
Page 99 and 100:
Note 11 - Derivative FinancialInstr
Page 101 and 102:
A summary of the impact of derivati
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
Page 109 and 110:
Note 15 - Commitments and Contingen
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 125 and 126:
Page 127 and 128:
Page 129 and 130:
Page 131 and 132:
Senior OfficersCoBank, ACBRobert B.
Page 133 and 134:
Senior Officers Compensation Discus
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
Page 141 and 142:
Page 143 and 144:
Page 145 and 146:
Code of EthicsCoBank, ACBCoBank set
Page 147 and 148:
CERTIFICATIONI, Robert B. Engel, Pr
Page 149 and 150:
LeadershipCoBank, ACBRobert B. Enge
Page 151 and 152:
OfficeLocationsCoBank National Offi
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Annual Report - CoBank

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