OTHER NEWS - July 20, 1992

Agricultural Banks Earned Record Profits in ‘91: The nation’s agricultural banks reported record earnings of $1.7 billion in 1991, despite a lackluster year in the farm economy, the American Bankers Assn. reported. The association said a financially healthier customer base and declining interest rates were part of the reason the industry’s earnings set a record for the fourth straight year. The ABA, the trade and professional association for the country’s commercial banks, said agricultural lenders also strengthened their earnings because they continued to diversify and restructure their portfolios and because of stricter underwriting standards.