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Dec 31, 2021
Farmer Mac Q4 2021 Earnings Report
Reported record financial results, completing a strategic acquisition and executing a newly-structured, agricultural mortgage-backed securitization.
Key Takeaways
Farmer Mac finished 2021 with record financial results. The company completed a strategic acquisition of a loan servicing platform and successfully executed a newly-structured, agricultural mortgage-backed securitization.
Net income of $107.6 million compared to $89.2 million in 2020, reflecting a 20% year-over-year increase
Core earnings (a non-GAAP measure) increased 13% to $113.6 million from $100.6 million in the same period last year
Completed strategic acquisition that expanded the internal loan servicing function and acquired the loan servicing rights for a sizeable portion of our Farm & Ranch loan and USDA Guaranteed Securities portfolios
Farmer Mac's Board of Directors raised the quarterly dividend on common stock by 8% to $0.95 per share, the eleventh consecutive annual increase
Farmer Mac
Farmer Mac
Forward Guidance
Management's expectations for Farmer Mac's future necessarily involve assumptions and estimates and the evaluation of risks and uncertainties.