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![]() Nov. 6, 2024 Source: Farmer Mac news release WASHINGTON, D.C. -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the accessibility of financing for American agriculture and rural infrastructure, today announced its results for the fiscal quarter ended September 30, 2024. "Farmer Mac delivered another solid quarter, demonstrating yet again the benefits of our successful efforts to continue to diversify our revenue streams, taking advantage of our strong capital base and uninterrupted access to low-cost capital," said President and Chief Executive Officer, Brad Nordholm. "Growth across our loan portfolio into newer lines of business and higher spread businesses continues to pay dividends for us through changing market cycles. "Proactive management of our balance sheet remains a core focus, enhancing our ability to accelerate opportunities to better serve American agriculture and rural infrastructure markets and deliver value to our stockholders." Third Quarter 2024 Highlights • Provided $2.0 billion in liquidity and lending capacity to lenders serving rural America • Net interest income was $86.8 million, compared to $87.6 million in third quarter 2023 • Net effective spread improved $2.0 million from the prior-year period to $85.4 million • Net income attributable to common stockholders was $42.3 million • Core earnings was $44.9 million, or $4.10 per diluted common share • Maintained strong capital position with total core capital of $1.5 billion, exceeding statutory requirement by 66% and a Tier 1 Capital Ratio of 14.2% as of September 30, 2024 • As of September 30, 2024, Farmer Mac had 309 days of liquidity To read the entire report click here. Tweet |
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