MidAtlantic Farm Credit, a members-owned cooperative association and part of the national Farm Credit System, announced its year-end financial results for 2017.

The Association reported a net income of $76.6 million in 2017, up from $57.3 million in 2016. Its loan portfolio also increased from $2.6 billion in 2016 to $2.7 billion, with acceptable credit quality remaining steady at 98%.

“Last year was one of growth for our Association,” said Tom Truitt, CEO of MidAtlantic Farm Credit. “Not only did our net income increase, but we added staff members to our team and have started exploring new market opportunities. We’re excited to continue that path in 2018 and identify new ways in which we can help our members and the agricultural industry thrive.”

Throughout 2017, MidAtlantic Farm Credit distributed $28.6 million in cash through its patronage program. “Our patronage program is something unique to Farm Credit, and one of the many benefits of being a cooperative,” said Truitt. “The over $28 million in cash we were able to [give] back to our members and their families last year is an accomplishment we are very proud of.”