Combined net income for the Farm Credit System increased 1.8 percent to $1.27 billion for the first quarter of 2018. Net interest income was $2 billion for the first quarter of 2018, compared to $1.9 billion for the first quarter of 2017. The increase in net interest income primarily resulted from a higher level of average earning assets, driven largely by increased loan volume. Meanwhile, the Farm Credit System reported loan losses of $69 million for the first quarter of 2018, compared to $37 million during the first quarter of 2017.
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