Horizon Farm Credit Announces Annual Results for 2024

Mechanicsburg, PA — Horizon Farm Credit, a member-owned cooperative and part of the national Farm Credit System, recently reported strong financial results in its 2024 annual report. The continued growth in loans and solid earnings will allow Horizon Farm Credit to distribute $72.3 million in patronage dividends to member-borrowers based on 2024 earnings. 

The Association’s record-breaking net accruing loan volume grew to over $7.2 billion, an increase of approximately 10% compared to over $6.5 billion at the end of 2023. Net interest income for 2024 was $195.4 million, an increase of 11.5% compared to $175.4 million for 2023. Net income grew to $131.8 million, a 0.06% increase compared to $131.7 million in 2023. Credit quality continues to remain strong with acceptable credit quality at 95.8% for the end of 2024.  

“Our strong financial performance reflects the trust our members place in us and our commitment to delivering reliable credit and financial services,” said Tom Truitt, CEO of Horizon Farm Credit. “As we close another successful year, we remain dedicated to strengthening agriculture and rural communities, ensuring they have the resources they need to grow and thrive for generations to come.”

Members’ Equity as of December 31, 2024, totaled $1.26 billion, an increase of 4.7%, compared to $1.2 billion in 2023. This strong equity position allows the Association to finance members’ growth even during industry challenges. In 2025, Horizon Farm Credit will be distributing $72.3 million of its 2024 earnings in cash patronage directly to its member-borrowers. 

“Returning value to our members through our patronage program is one of the most rewarding aspects of what we do,” said Truitt. “Sharing our Association’s success is a testament to our cooperative structure and our commitment to supporting the farmers, agribusinesses, and communities we serve.”

For more information about the 2024 financial results and to view the Association’s 2024 Annual Report, visit horizonfc.com/about/financials.