The Farm Credit Bank of Texas reported a record $203 million in net income in 2019, according to a news release earlier this month. It said Farm Credit distributed over 90 percent of its earnings to its stockholders and lending partners in the form of patronage payments and other dividends. Patronage payments are ways cooperatives distribute earnings to their customers. The cooperatively owned wholesale funding bank provides funding and support services to 14 Farm Credit lending cooperatives and two other financing institutions. It also participates with other lenders in capital markets loans to agribusinesses and rural infrastructure providers. “We paid a record patronage to ...