The Federal Agricultural Mortgage Corporation, or Farmer Mac, the nation’s secondary market provider that increases the accessibility of financing for agriculture and rural America, announced the recent fiscal quarter results.
“Farm Mac delivered another solid quarter, demonstrating yet again the benefits of our successful efforts to continue to diversify revenue streams, taking advantage of our strong capital base and uninterrupted access to low-cost capital,” says Brad Nordholm, president and CEO of Farmer Mac. “Growth across our loan portfolio into newer lines of business and higher spread businesses continues to pay dividends through changing market cycles.”
The third quarter ended on September 30, 2024, and net interest income was $86.8 million, compared to $87.6 million in the third quarter of 2023. Farmer Mac provided $2 billion in liquidity and lending capacity to lenders serving rural America. The core earnings in the report were $44.9 million, or $4.10 per diluted common share.
NAFB news service
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