Lending to consumers and businesses is not projected to be robust for the foreseeable future. However banks may see growth in farm lending as this sector has remained strong in recent years. Farm lending profits have helped some banks offset some of the losses from the residential and commercial real estate exposures.
The top 10 banks in farm lending by dollar volume as of the 3rd quarter, 2009 are listed below:
1. Wells Fargo Bank (NYSE:WFC)
2. Bank of America (NYSE:BAC)
3. Bank of the West
5. U.S. Bank (NYSE:USB)
6. First National Bank (FNSC)
7. M&I Marshall and Ilsley Bank (NYSE:MI)
8. Regions Bank (NYSE:RF)
9. Citibank (NYSE:C)
10. Pinnacle Bank (NASDAQ:PNFP)
Bank of the West and Rabobank are California-based banks. Wells Fargo is the largest farm lender in the country. In addition to Wells Fargo, the other major players in this area are U.S. Bank, Bank of America and Citibank.