Farm banks in Idaho, like those across the U.S., had a strong 2013 and expect to fare well in 2014.
D.L. Evans President John Evans Jr. told the Idaho Business Review that farm banks success is due in large part to a run of good years for Idaho farmers.
The American Bankers Associations definition of farm banks includes any bank with farm lending that tops 14.4 percent of its total loans. Idaho has six such banks, most of which are headquartered in southern or southeast Boise. Among them are Farmers National Bank in Buhl, Ireland Bank in Malad City, D.L. Evans Bank in Burley and Panhandle State Ban in north Idaho.
The associations 2013 Farm Bank Performance Report showed that farm banks across the country provided almost $150 billion in loans last year, with lending, asset quality and employment all increasing. In the 11 western states, farm loans increased by 10 percent and profits rose by 0.44 percentage points to a 7.95 percent median return on equity.