Welcome to our dedicated page for Federal Agricultural Mortgage news (Ticker: AGM), a resource for investors and traders seeking the latest updates and insights on Federal Agricultural Mortgage stock.
Federal Agricultural Mortgage Corporation reports developments tied to Farmer Mac’s role as a secondary market provider of liquidity for American agriculture and rural infrastructure. Recurring updates cover financial results, outstanding business volume, net interest income, net effective spread, credit provisions, dividends and capital deployment across agriculture, agribusiness, broadband infrastructure, power and utilities, and renewable energy markets.
Company news also includes agricultural mortgage-backed securities securitizations, investor presentations, conference-call notices, strategic-priority discussions and executive appointments. These items reflect Farmer Mac’s funding, risk management and capital-relief solutions for financial institutions serving rural and agricultural borrowers.
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.
The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM, AGM.A) will release its financial results for Q3 2021, ending September 30, on November 8, 2021, after market close. A conference call to discuss these results is scheduled for 4:30 PM ET on the same day. Farmer Mac plays a crucial role in the agricultural credit markets by providing affordable financing solutions to rural America. The organization aims to enhance credit access and reduce costs for agricultural lenders and agribusinesses, benefiting the rural community.
Farmer Mac has successfully completed a $302.7 million securitization of agricultural mortgage loans, known as the FARM Series 2021-1. This financing initiative aims to enhance credit accessibility for rural communities, highlighting the company's commitment to supporting farmers and ranchers. The securitization includes 384 loans, underwritten to standard and features a $280 million senior tranche guaranteed by Farmer Mac. CEO Brad Nordholm stated this success showcases Farmer Mac's strong balance sheet and the resilience of the agricultural sector.
The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM, AGM.A) reported strong second-quarter results for 2021, including a net income of $25.4 million, or $2.35 per diluted share. Net effective spread rose 22% to $56.6 million, driven by portfolio growth and higher spread loan products. Net interest income increased to $55.1 million, while core earnings were up 14% to $30 million ($2.77 per diluted share). Business volume reached $22.2 billion, a growth of $334.6 million from the prior quarter, supported by substantial gains in the Farm & Ranch sector.
Farmer Mac (NYSE: AGM, AGM.A) will release its financial results for Q2 2021 on August 5, 2021, post-market close. A conference call to discuss the results is scheduled for 4:30 p.m. ET the same day. This announcement highlights Farmer Mac's role in enhancing credit availability for rural America, underscoring its operations in the agricultural credit market.
The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A) announced a public offering of $125 million in Tier 1 capital via 4.875% non-cumulative perpetual Series G preferred stock. Closing is expected on May 27, 2021. The net proceeds will be used for general corporate purposes, with plans to list the stock under symbol 'AGM PRG.' The fixed dividend rate of 4.875% is applicable as declared by the Board of Directors. The offering is exempt from registration under the Securities Act of 1933.