The American Bankers Association released its annual Farm Bank Performance Report(Link is external), highlighting the critical role farm banks played in supporting U.S. agriculture in 2024. Despite continued challenges from global uncertainty and lingering supply chain disruptions, farm banks posted solid financial performance, improved asset quality, and increased lending to America’s farmers and ranchers. The U.S. banking industry remains the single largest provider of agricultural credit, holding $205 billion in farm loans by the end of 2024, accounting for nearly 38 percent of total farm lending nationwide. Of that, farm banks held $115 billion, with a focus on small microloans critical to rural producers. “Farm banks continue to be a cornerstone of rural America’s financial well-being,” said Ed Elfmann, ABA’s senior vice president of agricultural and rural banking policy. “In 2024, these institutions demonstrated the strength and resiliency that comes from deep community roots and a commitment to farmers and ranchers,” he added.
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