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.
The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A) announced that it would release its financial results for the first quarter ended March 31, 2023, on May 9, 2023, after equity market close. A conference call to discuss these results is scheduled for 4:30 p.m. ET on the same day. Farmer Mac aims to enhance financing accessibility for American agriculture and rural infrastructure, serving as a critical component in agricultural credit markets. The company provides various financial solutions to agricultural lenders and businesses, prioritizing low-cost financing and risk management tools.
On February 23, 2023, Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM, AGM.A) announced the completion of a
The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM, AGM.A) will announce its financial results for the fourth quarter and full year ended December 31, 2022, on February 24, 2023, prior to market opening. A conference call to discuss these results is scheduled for 8:30 AM Eastern Time on the same day. Farmer Mac is a key player in agricultural credit markets, aiming to enhance financing access for American agriculture and rural infrastructure.
The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM, AGM.A) reported strong Q3 2022 results with a net income of $34.6 million, up 21% year-over-year, translating to $3.18 per diluted share. The company added $2.7 billion in gross business volume, leading to a total of $25.3 billion. Net interest income increased by $8.9 million to $67.9 million, while core earnings grew to $33.4 million ($3.07 per diluted share), a 21% increase from the previous year. Delinquencies remained low at 0.17%, reflecting a healthy portfolio.
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