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Denver-based CoBank is a cooperative bank serving agribusinesses and rura utilities throughout the United It is a member ofthe U.S. Farm Credif System. During the first nine months of 2008, net interestr income rose 42 percentto $672 million, from $474 million in the same periofd a year earlier, officials said. Totalk loans and leases outstandingwere $43.1 billion at 30, compared to $40.5 billion at year-endr 2007. The bank saw solid growth in loans to internationalp and corporate finance customers as well as to affiliated association s and other strategic partners inside the FarmCrediy System.
Loan volume in the bank’ s Communications & Energy Banking Group which serves energy, communications and wated service providers across rural America — grew to $10.6 billion, a 22 percent increasr since the beginning of the year. Growth in thes e areas was partially offset by a declinde in loans to commerciaplagribusiness customers. Commercial agribusiness lending decreased 23 percentyfrom Dec. 31, 2007, to $10.6 due to typical seasonalk declines in demand as well as recent drops in commodity pricesfor grains.
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