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News about Federal Agricultural Mortgage Corporation (Farmer Mac, NYSE: AGM) centers on its role as a secondary market provider that increases the accessibility of financing for American agriculture and rural infrastructure. The company regularly issues press releases and files current reports on Form 8-K describing developments that affect its business, capital structure, and leadership.
Investors following AGM news will see updates on Farmer Mac’s mission-driven activities, including announcements related to providing liquidity and lending capacity to lenders serving rural America and supporting agricultural and infrastructure businesses. The company has highlighted securitizations of agricultural mortgage loans into agricultural mortgage-backed securities (AMBS) as part of its effort to support a vibrant and liquid AMBS market aligned with its mission to improve credit accessibility in rural America.
Farmer Mac’s news flow also includes information on dividends and capital instruments. The board of directors has reported quarterly dividends on its three classes of common stock and multiple series of non-cumulative preferred stock, including the issuance and dividend declarations for its 6.500% Non-Cumulative Preferred Stock, Series H. These announcements are typically accompanied by corresponding Form 8-K filings that describe the terms of the dividends and offerings.
Corporate governance and leadership changes are another key theme in Farmer Mac’s news. Recent press releases and 8-K filings have discussed the planned retirement of the Chief Executive Officer, the appointment of a President and Chief Operating Officer who has been designated as the next CEO, and the selection of senior executives such as a Chief Legal Officer and a Chief Financial Officer and Treasurer. Updates on board composition, including changes involving presidential appointees, are also disclosed.
In addition, Farmer Mac issues news releases about its quarterly financial results and the timing of earnings conference calls, referencing metrics such as outstanding business volume, net interest income, net effective spread, and core earnings. For investors and analysts, monitoring AGM news provides insight into Farmer Mac’s financial performance, capital actions, securitization activities, and leadership developments related to its mission of supporting American agriculture and rural infrastructure.
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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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Farmer Mac (NYSE: AGM, AGM.A) is set to announce its financial results for Q3 2022, ending September 30, 2022, on November 7, 2022, after market close. The announcement will be followed by a conference call at 4:30 p.m. ET to discuss the results. As a key player in agricultural credit markets, Farmer Mac aims to enhance credit availability and affordability for rural areas, providing financial solutions that support agricultural lenders and agribusinesses.
Farmer Mac (NYSE: AGM, AGM.A) announced the successful closing of a $301.1 million agricultural mortgage-backed securitization (AMBS), identified as FARM 2022-1. This transaction involved a pool of 450 agricultural mortgage loans and aims to enhance credit availability for rural America. The deal comprises a $278.5 million senior tranche and a $22.6 million subordinate tranche. CEO Brad Nordholm highlighted the significance of this securitization in diversifying funding sources and generating new revenue streams.
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.