U.S. AgBank, Farm Credit Bank based in Wichita, Kansas

Wichita, Kansas

Wichita is the largest city in the U.S. state of Kansas.As of the 2010 census, the city population was 382,368. Located in south-central Kansas on the Arkansas River, Wichita is the county seat of Sedgwick County and the principal city of the Wichita metropolitan area...

, is a financial institution

Financial institution

In financial economics, a financial institution is an institution that provides financial services for its clients or members. Probably the most important financial service provided by financial institutions is acting as financial intermediaries...

, part of the Farm Credit System

Farm Credit System

The Farm Credit System is a federally chartered network of cooperatives and related service organizations that lends to agricultural producers, rural homeowners, farm-related businesses, and agricultural, aquatic, and public utility cooperatives in the United States...

 lending to Farm Credit Services organizations serving Arizona, California, Colorado, Hawaii, eastern Idaho, Kansas, Nevada, New Mexico, Oklahoma, Utah, and western Wyoming.

Like other Farm Credit Banks, U.S. AgBank generates funds from selling bonds backed by the federal government. It does not lend directly to borrowers, but to 29 local Agricultural Credit Associations.

In 2010, the company announced plans for a merger with CoBank

CoBank

CoBank, ACB, a part of the United States Farm Credit System, is an agricultural credit bank serving cooperatives in the agricultural sector. It lends money to farm credit associations, agricultural businesses, and rural utilities, who collectively own CoBank. It also owns 100% of Farm Credit...

.

CEO: Darryl W. Rhodes