KC Fed: Farm Debt Declines Further, Credit Stress Easing
USAgNet - 06/24/2021
Agricultural debt at commercial banks continued to decline in the first quarter of 2021 and farm loan performance improved. Both real estate and production loans decreased, reducing farm debt by more than 5% from a year ago and contributing to a decline in
the number of banks classified as agricultural banks.
The reduction in agricultural loan balances was less pronounced among banks most concentrated in agriculture, driven by modest growth in real estate debt among those lenders.
Delinquency rates on farm debt dropped notably from a year ago and, alongside strong earnings, profitability at agricultural banks improved from the end of last year.
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