(NDAgConnection.com) – The Farm Credit System today reported that combined net income increased 6.9% to $1.9 billion and 4.8% to $5.4 billion for the three and nine months ended September 30, 2022, as compared with net income of $1.8 billion and $5.2 billion for the same periods of the prior year.

“The results for the third quarter and the first nine months of 2022 reflect a strong performance by the Farm Credit System,” remarked Tracey McCabe, President and CEO of the Federal Farm Credit Banks Funding Corporation. “A strong balance sheet and robust levels of capital, position the System well to serve its member borrowers in today’s challenging environment of rising interest rates and elevated inflation.”