Five-Year Summary of Selected Financial Data

(dollars in thousands)

At December 31:

Loans and leases Less: allowance for loan losses Net loans and leases Investment securities - available for sale Investment in CoBank Other property owned Other assets

2020 2019 2018 2017 2016

10,719,896 10,112,715 9,699,371

9,469,588 (77,600) (73,800) (61,800) (64,900) (55,600) 11,525,595 10,646,096 10,050,915 9,634,471 9,413,988

91,538 114,712 371,862 339,083 321,888 315,570 303,675 1 3,978 1,211 5,085 3,483 305,754 250,469 240,756 220,707 205,339

11,239,626 10,614,770 10,267,371 10,041,197

Obligations with maturities of one year or less 5,908,239$ $ 4,945,992 $ 8,417,487 $ 8,170,679 $ 8,089,920 Obligations with maturities longer than one year 4,307,528 4,000,972 16,333 16,981 15,763 Total liabilities 10,215,767 8,946,964 8,433,820 8,187,660 8,105,683

Preferred stock Capital stock and participation certificates Additional paid-in-capital Unallocated retained earnings Accumulated other comprehensive loss

353,360 365,403 378,105 399,667 384,119 4,980 4,932 5,025 5,200 5,200 133,312 133,312 133,312 133,312 133,312 1,901,370 1,794,045 1,669,518 1,545,742 1,416,252 (5,629) (5,030) (5,010) (4,210) (3,369) 2,387,393 2,292,662 2,180,950 2,079,711 1,935,514

11,239,626 10,614,770 10,267,371 10,041,197

For the year ended December 31:

Net interest income 317,425$ $ 298,684 $ 274,318 $ 258,367 $ 250,417 Patronage received from Farm Credit Institutions 61,780 52,683 56,274 47,920 44,724 Provision for loan losses (5,488) (19,331) (7,936) (11,626) (20,216) Noninterest expense, net (77,319) (76,971) (74,548) (74,518) (68,742) (Provision for) benefit from income taxes (6) (41) (9) 72 (119) Net income 296,392$ $ 255,024 $ 248,099 $ 220,215 $ 206,064 Comprehensive income 295,793$ $ 255,004 $ 247,299 $ 219,374 $ 205,976

Consolidated Key Financial Ratios (1) For the year ended December 31: Return on average assets Return on average members’ equity Net interest income as a % of average earning assets Net charge-offs as a % of average loans At December 31: Members’ equity as a % of total assets Ratio of debt to members’ equity Allowance for loan losses as a % of loans Common Equity Tier 1 (CET1) Capital ratio Tier 1 Capital ratio Total Capital ratio Tier 1 Leverage ratio Unallocated Retained Earnings and URE Equivalents (UREE) Leverage ratio Permanent capital ratio

Patronage distributions paid Patronage distributions declared Preferred stock dividends declared Loans serviced for others

2.57% 2.40% 2.44% 2.21% 2.14% 12.25% 10.99% 11.28% 10.66% 10.75%

2.87% 2.98% 2.86% 2.73% 2.69% 0.02% 0.07% 0.11% 0.02% 0.11%

18.94% 20.40% 20.55% 20.26% 19.28% 4.3 to 1 3.9 to 1 3.9 to 1 3.9 to 1 4.2 to 1 0.67% 0.69% 0.61% 0.67% 0.59% 13.85% 14.37% 14.00% 13.33% 13.85% 14.37% 14.00% 13.33% 14.46% 15.00% 14.66% 13.95% 14.74% 15.70% 15.29% 14.37%

16.30% 17.31% 16.95% 15.99% 16.88% 17.75% 17.64% 17.37%

115,700 122,000 8,497$ $ 2,811,436 82,700$ $ 115,700 8,623$ $ 2,967,831 79,500 82,700 $ 8,025 2,834,877 66,676 79,500 $ 7,491 2,538,177