Federal Agricultural Mortgage Corporation Stock Price, News & Analysis

The Federal Agricultural Mortgage Corporation (Farmer Mac; AGM, AGM.A) reported strong financial results for Q2 2022, highlighting a net income of $39.1 million, up from $25.4 million year-over-year. The company added $1.9 billion in gross business volume, reaching a total of $24.5 billion. Net interest income rose by 26% to $69.4 million, while core earnings increased by 3% to $30.7 million, or $2.83 per diluted share. Notably, 90-day delinquencies stood at 0.08% of the portfolio, reflecting solid credit quality amid economic uncertainty.

The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM, AGM.A) will announce its financial results for the fiscal quarter ending June 30, 2022, on August 8, 2022, after market close. A conference call to discuss the results is scheduled for the same day at 4:30 PM ET. Farmer Mac serves as a secondary market provider, enhancing credit availability and affordability for rural America. The company aims to improve agricultural credit access and reduce costs for rural communities.

The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A) has announced the appointment of Chester J. Culver to its board of directors, confirmed by the U.S. Senate on May 18, 2022. Culver, a former Iowa governor, replaces Myles J. Watts. His experience includes roles in agriculture, politics, and education, reflecting a strong commitment to rural communities. Culver's return to the board aims to enhance Farmer Mac's focus on rural infrastructure and renewable energy initiatives, supporting agricultural lenders across America.

Farmer Mac reported a strong performance for the first quarter of 2022, achieving an outstanding business volume of $24.2 billion. Key highlights include a net income of $41.0 million, up 46% year-over-year, and a net interest income growth of $61.9 million, an 8% increase from the previous year. Core earnings stood at $25.8 million or $2.37 per diluted share. Despite increased operating expenses, the company is well-positioned to navigate market challenges, including inflation and credit volatility, while continuing to pursue growth opportunities.

The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM, AGM.A) will release its financial results for the first quarter of 2022 on May 9, 2022, after market close. A conference call to discuss these results is scheduled for the same day at 4:30 PM ET. Farmer Mac facilitates credit availability for rural America, providing financial solutions to agricultural communities. It enhances access to low-cost financing through its operational efficiency and low overhead costs.

Farmer Mac (NYSE: AGM, AGM.A) announced that Lowell L. Junkins has been appointed Chair of its board of directors, effective March 30, 2022. Junkins has been a board member since 1996 and previously served as Chair from 2010 to 2020. LaJuana S. Wilcher, who has served as Chair since January 2020, will now serve as Vice Chair. Farmer Mac provides financial solutions to the agricultural sector, enhancing access to affordable credit for rural communities across the U.S.

The Federal Agricultural Mortgage Corporation (Farmer Mac) reported strong financial results for the fiscal year ending December 31, 2021, with a net income of $107.6 million, up 20% from $89.2 million in 2020. Core earnings also rose by 13% to $113.6 million. Significant highlights include a strategic acquisition that enhanced loan servicing capabilities and a structured securitization transaction amounting to $300 million. Additionally, Farmer Mac's Board declared an 8% increase in the quarterly dividend to $0.95 per share, marking the eleventh consecutive annual hike.

The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A) will release its financial results for the fiscal quarter and year ended December 31, 2021, on February 28, 2022, after market close. A conference call to discuss these results will follow at 4:30 p.m. ET on the same day. Farmer Mac is essential in enhancing credit access and affordability for rural America, serving agricultural lenders, agribusinesses, and related institutions. Additional details about the call can be found on Farmer Mac's website.

The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A) reported a strong fiscal third quarter ending September 30, 2021, with a net income of $24.3 million, up from $18.7 million a year prior. The company achieved a net growth of $921.6 million in business volume, expanding its portfolio to $23.1 billion. Core earnings were stable at $27.6 million. Significant transactions included a $302.7 million agricultural mortgage-backed securities securitization and a strategic acquisition enhancing loan servicing. Farmer Mac's Tier 1 capital ratio stood at 15.1%, indicating solid financial health.