Farmer Mac Q2 2022 Earnings Report
Key Takeaways
Farmer Mac reported a strong second quarter in 2022, with net interest income growing to $69.4 million and net income attributable to common stockholders reaching $39.1 million. Core earnings also increased to $30.7 million, or $2.83 per diluted common share. The company's outstanding business volume was $24.5 billion as of June 30, 2022.
Added $1.9 billion of gross business volume, resulting in net growth of $236.0 million
Net interest income grew $14.3 million year-over-year to $69.4 million
Net effective spread increased 8% from the prior-year period to $60.9 million
Net income attributable to common stockholders of $39.1 million compared to $25.4 million in second quarter 2021
Farmer Mac
Farmer Mac
Farmer Mac Revenue by Geographic Location
Forward Guidance
Management's expectations for Farmer Mac's future necessarily involve assumptions and estimates and the evaluation of risks and uncertainties.