Welcome to our dedicated page for Federal Agricultural Mortgage Corporation news (Ticker: AGM), a resource for investors and traders seeking the latest updates and insights on Federal Agricultural Mortgage Corporation stock.
The Federal Agricultural Mortgage Corporation, commonly known as Farmer Mac (NYSE: AGM), is a stockholder-owned, government-sponsored enterprise (GSE) established by Congress to enhance the availability of long-term credit for America’s farmers, ranchers, rural homeowners, businesses, and communities. Farmer Mac achieves its mission by providing a secondary market for agricultural mortgage loans, rural housing mortgage loans, rural utilities loans, and USDA-guaranteed portions of agricultural and rural development loans.
Farmer Mac operates through seven segments: Farm & Ranch, Corporate AgFinance, Rural Utilities, Renewable Energy, Funding, Investments, and Corporate. The company purchases qualified mortgage loans secured by first liens on agricultural real estate and rural housing under its Farm & Ranch segment. Its subsidiary also acquires USDA-guaranteed portions of agricultural, rural development, business and industry, and community facilities loans.
Recently, Farmer Mac reported an outstanding business volume of $28.8 billion for the fiscal quarter ended March 31, 2024, demonstrating its critical role in providing liquidity to lenders serving rural America. The corporation's latest financial results highlight its robust performance, with net interest income growing by 9% year-over-year to $86.4 million and net effective spread increasing by 8% to $83.0 million.
Farmer Mac is known for its consistent performance, strategic growth, and disciplined asset-liability management. Its strong capital base and uninterrupted access to capital markets underscore its resilience and long-term commitment to supporting American agriculture and rural infrastructure. The company's strategic initiatives also include innovations in the agricultural mortgage-backed securities (AMBS) market to enhance credit accessibility in rural America.
As a GSE, Farmer Mac's operations and financial strength are pivotal in ensuring the continued growth and sustainability of America's rural and agricultural communities, making it an essential component of the nation's agricultural credit market.
Farmer Mac (NYSE: AGM) has completed a $318.8 million securitization of agricultural mortgage loans, marking its fifth FARM series transaction since 2021. The FARM 2024-2 mortgage pool comprises 446 agricultural mortgage loans, featuring a $294.9 million senior tranche guaranteed by Farmer Mac and a $23.9 million unguaranteed subordinate tranche. The senior tranche is structured into three guaranteed classes (A, A1, and A2) offering different principal repayment cashflows to attract new investors. The transaction demonstrates strong demand from diverse investors and reinforces Farmer Mac's commitment to improving credit accessibility in rural America.
Farmer Mac has declared its fourth quarter dividends for 2024. Common stockholders will receive $1.40 per share across all three classes of common stock (AGM.A, Class B, and AGM), payable on December 31, 2024, to holders of record as of December 16, 2024. The company also declared dividends for its four preferred stock classes: Series D at $0.35625, Series E at $0.359375, Series F at $0.328125, and Series G at $0.3046875 per share, all payable on January 17, 2025, to holders of record as of January 2, 2025.
Farmer Mac (NYSE: AGM) reported its Q3 2024 results with net income of $42.3 million and core earnings of $44.9 million ($4.10 per diluted share). The company maintained a strong capital position with total core capital of $1.5 billion, exceeding statutory requirements by 66%. Net interest income was $86.8 million, slightly down from $87.6 million in Q3 2023, while net effective spread improved by $2.0 million to $85.4 million. The company provided $2.0 billion in liquidity and lending capacity to rural American lenders, with outstanding business volume reaching $28.5 billion.
Farmer Mac (NYSE: AGM and AGM.A), the nation's secondary market provider for agricultural and rural infrastructure financing, has announced it will release its financial results for Q3 2024 on Monday, November 4, 2024, before market open. A conference call to discuss the results is scheduled for 4:30 p.m. eastern time on the same day.
Investors can access the call via phone or webcast. Domestic callers should dial (800)-836-8184, while international callers can use (646)-357-8785. The webcast will be available at https://www.farmermac.com/investors/events-presentations/. A replay of the call will be accessible on Farmer Mac's website after the conference concludes.
Farmer Mac (NYSE: AGM and AGM.A), the nation's secondary market provider for agricultural and rural infrastructure financing, has relocated its headquarters to 2100 Pennsylvania Ave NW, Washington, D.C. The new office space is designed to foster collaboration, flexibility, and sustainability. Key features include:
- A mix of workstations, communal areas, private phone rooms, and a quiet zone
- Focus on employee well-being and environmental sustainability
- Pending applications for LEED and WELL certifications
- Implementation of the innovative 'Presence with Purpose' hybrid work model
President and CEO Bradford T. Nordholm emphasized that the new headquarters reflects Farmer Mac's commitment to creating a workspace that supports a strong culture and promotes employee productivity.
Farmer Mac (NYSE: AGM) has declared its third quarter dividends for common and preferred stock. For common stock, a dividend of $1.40 per share will be paid on September 30, 2024, to holders of record as of September 16, 2024. This applies to all three classes of common stock: Class A Voting, Class B Voting, and Class C Non-Voting.
For preferred stock, dividends were declared for four classes: Series D (5.700%), Series E (5.750%), Series F (5.250%), and Series G (4.875%). These dividends will be payable on October 17, 2024, to holders of record as of October 1, 2024. Farmer Mac aims to increase accessibility of financing for American agriculture and rural infrastructure as a secondary market provider.
Farmer Mac (NYSE: AGM) reported strong Q2 2024 results, showcasing resilience in an uncertain economic environment. Net interest income grew 11% year-over-year to $87.3 million, while net effective spread increased 2% to $83.6 million. The company maintained a robust capital position with total core capital of $1.5 billion, exceeding statutory requirements by 71%. Farmer Mac provided $1.5 billion in liquidity and lending capacity to rural America lenders. Despite these positive metrics, net income attributable to common stockholders slightly declined by $0.1 million to $40.3 million. Core earnings were $39.8 million, or $3.63 per diluted common share. The company's strong performance was attributed to its diversified revenue streams and disciplined asset liability management.
Farmland Partners Inc. (NYSE: FPI) has announced the appointment of Dr. Bruce Sherrick to its Board of Directors, effective July 23, 2024. Dr. Sherrick, a renowned agricultural economist and farmland expert, brings extensive experience in agricultural economics, farmland investment, and public company board service. He currently holds the Marjorie and Jerry Fruin Professorship at the University of Illinois and runs the TIAA-CREF Center for Farmland Research. Dr. Sherrick's expertise includes credit risk assessment, farmland investment performance tracking, and agricultural finance. His appointment is expected to provide valuable economic insights and a unique perspective to FPI's board, potentially strengthening the company's operational performance and future planning.
Farmer Mac (NYSE: AGM and AGM.A), the secondary market provider enhancing financing accessibility for American agriculture and rural infrastructure, has announced the release of its Q2 2024 financial results on August 5, 2024, after market close. A conference call to discuss the results is scheduled for 4:30 p.m. eastern time on the same day.
Investors can access the call via phone or webcast. The call will also be available for replay on Farmer Mac's website. As a secondary market for agricultural and rural infrastructure credit, Farmer Mac supports a broad spectrum of customers in rural America, including agricultural lenders, agribusinesses, and rural electric cooperatives.
Farmer Mac (NYSE: AGM, AGM.A) has been awarded the 2024 Top Workplaces recognition by The Washington Post. This honor is based on an independent survey of employee engagement and sentiment, with Farmer Mac being recognized for its exceptional workplace culture. This is the 12th time Farmer Mac has received an award from the Top Workplaces program, including two national awards and multiple cultural excellence accolades. CEO Bradford T. Nordholm and Chief HR Officer Kerry Willie emphasized the importance of employee dedication and a supportive workplace culture in achieving this recognition.
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