Farmer Mac Q2 2021 Earnings Report
Key Takeaways
Farmer Mac reported a strong second quarter with record core earnings, driven by an all-time high net effective spread and continued volume demand. The company also maintained strong credit quality and executed on key strategic initiatives.
Added $1.5 billion of gross business volume, resulting in net growth of $334.6 million.
Net interest income grew $6.8 million year-over-year to $55.1 million.
Net effective spread increased 22% from the prior-year period to $56.6 million.
Core earnings grew 14% from the prior-year period to $30.0 million.
Farmer Mac
Farmer Mac
Farmer Mac Revenue by Segment
Farmer Mac Revenue by Geographic Location
Forward Guidance
Farmer Mac expects positive trends from the first half of the year to continue, building on established momentum to create greater value for customers, communities, and shareholders. While the Delta variant introduces near-term uncertainty, Farmer Mac is confident that its infrastructure, capital position, and customer commitment will support navigation of the ongoing pandemic.