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Colorado-based CoBank on Thursday reported second-quarter net income had increased by 40 percent to $252.4 million, in part from its January acquisition of U.S. AgBank.
In addition to quarterly increases in net interest income and average loan volume, increases were similarly reflected in the first six months of 2012.
Quarterly and year-to-date results included $44.6 million in refunds from the Farm Credit System Insurance Corporation. Despite droughts and generally weak economies, CoBank officials were upbeat about future earnings.
It reported cash and investments of $19.7 billion.
