MECHANICSVILLE — Agricultural lender Colonial Farm Credit reported a large net income for the year ending December 31, according to a press release from the firm.

“Total net income was $13.8 million on loan volume of $638.3 million,” the release stated.

The firm has an office on South Main Street in Farmville.

“Loan demand was strong across all sectors for working capital, equipment, real estate, and construction while credit quality remained very sound,” noted said Farmer, president and CEO of Colonial Farm Credit.

Colonial Farm Credit has returned more than $95.7 million dollars in patronage refunds to the rural areas they serve in Virginia and Maryland since the program began in 1998.

This year, the Farm Credit system is celebrating the centennial of its creation in 1916. “Farm Credit was established nearly 100 years ago to help fund America’s food, fuel, and fiber and support the rural communities America’s farmers call home,” said Farmer.

“We will continue to support rural communities and agriculture with reliable and consistent credit, today and tomorrow.”