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July 02, 2015 10:48 PM ET

Banks

Company Overview of Cobank Acb

Company Overview

CoBank, ACB, a co-operative bank, provides loans, leases, and other financial services in the United States. The company operates in three segments: Agribusiness, Strategic Relationships, and Rural Infrastructure. It offers loans to finance current or seasonal assets, inventories, accounts receivable, commodities, and other short-term loans; and for the construction of new facilities, remodeling or expanding existing facilities, purchase of land or equipment, mergers and acquisitions, long-term assets, and working capital, as well as offers refinanced loans and pension prepayment loan programs. The company also provides leasing solutions for transportation vehicles, such as pickups, vans, an...

5500 South Quebec Street

Greenwood Village, CO 80111

United States

Founded in 1916

848 Employees

Phone:

303-740-4000

Key Executives for Cobank Acb

Chief Executive Officer and Member of Asset & Liability Committee
Age: 61
President, Member of Asset & Liability Committee, Member of Loan Committee and Member of Country Risk Committee
Age: 59
Chief Financial Officer and Chairman of Asset & Liability Committee
Age: 52
Chief Operating Officer and Member of Asset & Liability Committee
Age: 58
Southern Region President of Regional Agribusiness Banking Group
Compensation as of Fiscal Year 2015.

Cobank Acb Key Developments

CoBank ACB Approves Amendments to the Bank's Governance Bylaws, Effective January 1, 2016

CoBank ACB announced June 18, 2015 that shareholders approved amendments to the bank's governance bylaws concerning board membership and director requirements. The changes will gradually reduce the number of elected board members to 14 from 24 over a four-year period concluding in 2020, and increase the maximum number of appointed directors to four from three. Shareholders also agreed to modify director experience requirements for a better balance of agricultural, Farm Credit and rural infrastructure experience. The bylaw amendments, which were recommended by the board after a governance review in 2014, will take effect Jan. 1, 2016.

Cobank Acb Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended Dec. 31, 2014

Cobank Acb announced unaudited consolidated financial results for the fourth quarter and full year ended Dec. 31, 2014. The company reported net income of $904.3 million for the year, up 6% from $856.5 million in 2013. The increase was driven primarily by higher net interest income. Net interest income increased 6% to $1.2 billion against $1,163 million for the last year, driven by higher average loan volume as well as increased earnings from the bank's balance sheet positioning. Average loan volume rose 7% to $76.6 billion. For the year, interest income was $2,075 million against $1,963 million for the last year. For the fourth quarter of 2014, net interest income increased 8%, to $312.2 million. Net income for the quarter was $215.4 million, a decline of 5% from $227.6 million in the same period of 2013.

Cobank Acb, 2014 Earnings Call, Mar 11, 2015

Cobank Acb, 2014 Earnings Call, Mar 11, 2015

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