Welcome to our dedicated page for Federal Agric Mtg news (Ticker: AGM), a resource for investors and traders seeking the latest updates and insights on Federal Agric Mtg stock.
Federal Agricultural Mortgage Corp (AGM), known as Farmer Mac, provides essential secondary market liquidity for agricultural and rural infrastructure financing. This page serves as the definitive source for official company announcements, financial updates, and strategic developments.
Investors and stakeholders will find timely information on AGM's core operations across Farm & Ranch lending, rural broadband initiatives, and renewable energy financing. The curated collection includes earnings reports, regulatory filings, partnership announcements, and market expansion updates.
All content reflects AGM's role as a government-sponsored enterprise enhancing rural credit accessibility. Users can track developments in agricultural mortgage-backed securities, risk management practices, and sector-specific financial innovations.
Bookmark this page for direct access to primary source materials supporting informed analysis of rural credit markets and AGM's strategic positioning within this specialized financial ecosystem.
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.
Farmer Mac (NYSE: AGM) announced plans to redeem all 3,000,000 shares of its 6.000% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series C. The redemption price is set at $25.00 per share, plus any declared and unpaid dividends until the redemption date of July 18, 2024. Post-redemption, dividends will cease to accrue on these shares. The shares are held in book-entry form through The Depository Trust Company (DTC), and the redemption process will follow DTC's procedures. Equiniti Trust Company will act as the transfer agent for the redemption.
On May 16, 2024, Farmer Mac (NYSE: AGM and AGM.A) announced the election of Jeffrey L. Plagge and Kevin G. Riel to its board of directors. Plagge, with extensive banking experience, and Riel, a hop farmer and financial institution board member, replace Dennis Brack and Everett Dobrinski. Board Chair Lowell L. Junkins emphasized their contributions to Farmer Mac's mission of enhancing rural America's financial accessibility. Plagge and Riel expressed enthusiasm for their roles, aiming to leverage their expertise to support Farmer Mac's objectives. Additional details are in Farmer Mac's 2024 proxy statement on their website.
Farmer Mac's board of directors has announced a second quarter dividend of $1.40 per share for its common stockholders, payable on June 28, 2024. The dividend pertains to Class A Voting Common Stock (NYSE: AGM.A), Class B Voting Common Stock, and Class C Non-Voting Common Stock (NYSE: AGM). Additionally, dividends for five classes of preferred stock have been declared, with payments scheduled for July 17, 2024.
Farmer Mac also plans to redeem all 3,000,000 shares of its Series C Preferred Stock (NYSE: AGM.PR.C) valued at $75 million. Holders will receive a written notice between 30 and 60 days before the redemption date, which will not affect the dividend payments declared for July 17, 2024.
Farmer Mac continues its mission to provide accessible financing to American agriculture and rural infrastructure, supporting various customers including agricultural lenders and rural electric cooperatives.
Farmer Mac reported strong first-quarter 2024 results with outstanding business volume of $28.8 billion. The company provided $1.4 billion in liquidity, saw a 9% increase in net interest income, and achieved 17% growth in net income. Farmer Mac maintained a solid capital position and core earnings grew by 12%. The company's performance reflects its commitment to rural America and stockholder value.
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