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Mar 31, 2024
Farmer Mac Q1 2024 Earnings Report
Delivered strong earnings driven by well-disciplined asset-liability management, development of new markets, and investments to modernize infrastructure.
Key Takeaways
Farmer Mac reported strong first quarter earnings with a 9% year-over-year increase in net interest income, a 17% year-over-year increase in net income attributable to common stockholders, and core earnings of $43.4 million.
Provided $1.4 billion in liquidity and lending capacity to lenders serving rural America
Net interest income grew 9% year-over-year to $86.4 million
Net effective spread increased 8% from the prior-year period to $83.0 million
Net income attributable to common stockholders grew 17% year-over-year to $47.0 million
Farmer Mac
Farmer Mac
Farmer Mac Revenue by Geographic Location
Revenue by Geographic Location
Total Revenue
CapyFin.com Forward Guidance
Management's expectations for Farmer Mac's future necessarily involve assumptions and estimates and the evaluation of risks and uncertainties.
Positive Outlook
- Availability of debt and equity financing
- Level of lender interest in Farmer Mac's products
- General rate of growth in agricultural mortgage and rural infrastructure indebtedness
- Facilitate competitive access to financing
- Fuels growth, innovation, and prosperity in America’s rural and agricultural communities
Challenges Ahead
- Legislative or regulatory developments
- Fluctuations in the fair value of assets
- Economic conditions stemming from disruptive global events
- Exposure to interest rate risk
- Developments in the financial markets