Derivative gains (losses) swung to a gain of $96.6M from a loss of $32.2M in the prior-year quarter, which the company attributes to increases in interest rates across the entire swap curve.

Filed October 13, 2026 · Period ending August 31, 2026 · Compared to 10-Q Oct 14, 2025 · ~1 min read

Key Changes

• medium

  Net interest income rose 7.0% to $76.0M, which the company attributes to an increase in the net interest yield of 3 basis points, or 4%, to 0.78% and an increase in average interest-earning assets of $1,011 million, or 3%.

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• medium

  The debt-to-equity ratio improved to 10.54 from 10.85 at the prior quarter end, which the company attributes to the combined impact of a decline in total debt outstanding, reflecting reduced funding needs for our loan portfolio, and an increase in total equity.

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• medium

  Loans to members decreased $84.8M to $38.34B from the prior quarter end, which the company attributes to a net decrease in line of credit loans of $320 million, partially offset by a net increase in long-term loans of $235 million.

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