Company Market Research Report: Farm Credit Bank of Texas
Company Overview
Name
Farm Credit Bank of Texas
Mission of the Company
Empowering rural America since 1916 by being a leading source of credit and financial services for agricultural producers, rural landowners, and agribusiness.
Founding and Founders
The Farm Credit System, of which Farm Credit Bank of Texas is a part, traces its origins to July 17, 1916, with the establishment of the Federal Farm Loan Act. Specific founding individuals for the Farm Credit Bank of Texas are not mentioned.
Key People
- Amie Pala: Chief Executive Officer
- John L. "Jack" Dailey: Board member
- Dorothy Nichols: Outside director
Headquarters
Austin, Texas, USA
Number of Employees
No information is available.
Revenue
- Net Income: $151.4 million as of September 30, 2024.
- The bank had a total capital ratio of 14.7% with $1.9 billion in shareholders’ equity.
What is the Company Known for
Farm Credit Bank of Texas is known for its role as a cooperatively owned wholesale bank financing agriculture and rural America within the Texas Farm Credit District. It provides funding to affiliated lending cooperatives that make loans to farmers, ranchers, agribusinesses, and rural property owners.
Products
Offered Products and High-Level Descriptions
No specific product offerings are detailed in the available information. However, broadly, the bank funds its affiliated co-ops to provide loans to:
- Farmers
- Ranchers
- Agribusinesses
- Rural property owners
Key Features of Products
No information is available.
Recent Developments
Recent Developments in the Company
- Announced board election results with re-election of key board members for new terms starting January 1, 2025.
- Reported solid financial performance with an increase in loan volume and a strong credit quality for the third quarter of 2024.
New Features or Products Launched
No information is available on new products.
New Partnerships
- Farm Credit Bank of Texas and the Texas Farm Credit District collaborated with AgFirst, CoBank, and Farmer Mac to contribute $315,000 in relief aid for Hurricane Helene.
Leadership Changes
- Isaac Bennett, EVP Chief Credit Officer, announced retirement effective end of 2024.
- Ryan Schuberth and Aaron Wiechman have been elevated to executive vice president roles, effective January 1, 2025, to manage separate credit and lending divisions within Farm Credit Bank of Texas.
