Earnings summaries and quarterly performance for FEDERAL AGRICULTURAL MORTGAGE.
Executive leadership at FEDERAL AGRICULTURAL MORTGAGE.
BN
Bradford Nordholm
Detailed
Chief Executive Officer
CEO
BB
Brian Brinch
Detailed
Executive Vice President – Chief Risk Officer
GH
Geraldine Hayhurst
Detailed
Executive Vice President – Chief Legal Officer and Secretary
GR
Gregory Ramsey
Detailed
Interim Principal Financial Officer
KW
Kerry Willie
Detailed
Senior Vice President – Chief Human Resources Officer
MC
Marc Crady
Detailed
Senior Vice President – Chief Credit Officer
RM
Robert Maines
Detailed
Senior Vice President – Operations
SD
Sean Datcher
Detailed
Senior Vice President – Chief Information Officer
ZC
Zachary Carpenter
Detailed
President and Chief Operating Officer
Board of directors at FEDERAL AGRICULTURAL MORTGAGE.
AG
Amy Gales
Detailed
Director
CS
Charles Stones
Detailed
Director
CC
Chester Culver
Detailed
Director
DS
Daniel Shaw
Detailed
Director
EM
Eric McKissack
Detailed
Director
JE
James Engebretsen
Detailed
Director
JP
Jeffrey Plagge
Detailed
Director
KR
Kevin Riel
Detailed
Director
LW
Lajuana Wilcher
Detailed
Board Vice Chair
LJ
Lowell Junkins
Detailed
Board Chair
MJ
Mitchell Johnson
Detailed
Director
RD
Richard Davidson
Detailed
Director
RS
Robert Sexton
Detailed
Director
SF
Sara Faivre
Detailed
Director
TW
Todd Ware
Detailed
Director
Research analysts who have asked questions during FEDERAL AGRICULTURAL MORTGAGE earnings calls.
Bose George
Keefe, Bruyette & Woods
12 questions for AGM
Also covers: ACT, AGNC, BETR +25 more
BM
Brendan Michael McCarthy
Sidoti & Company, LLC
11 questions for AGM
Also covers: ALEX, BENF, BETR +5 more
WR
William Ryan
Seaport Research Partners
8 questions for AGM
Also covers: ENVA, JSM, LC +1 more
BR
Bill Ryan
Seaport Research Partners
4 questions for AGM
Also covers: ENVA, LC
GG
Gary Gordon
Unaffiliated Analyst
4 questions for AGM
Recent press releases and 8-K filings for AGM.
FEDERAL AGRICULTURAL MORTGAGE Reports Record 2025 Financial Results and Business Volume Growth
AGM
Earnings
Dividends
Revenue Acceleration/Inflection
- FEDERAL AGRICULTURAL MORTGAGE (Farmer Mac) reported record annual revenue of $410 million, a 13% increase from the prior year, and $183 million in core earnings for 2025, marking its 10th consecutive year of record annual core earnings.
- The company achieved record net new business volume of $3.8 billion in 2025, resulting in total outstanding business volume of $33.4 billion by year-end, driven by broad-based growth across all segments, including significant increases in infrastructure finance.
- Farmer Mac increased its quarterly dividend by $0.10 per share to $1.60 per share, representing its 15th consecutive annual increase, and returned a total of $78 million to shareholders in 2025 through dividends and share repurchases.
- Fourth-quarter 2025 core earnings were negatively impacted by credit provisions related to specific loans, but management stated these were concentrated and not indicative of a meaningful change in the high credit quality across its portfolios.
- Looking ahead to 2026, the company anticipates continued strong growth across all segments, with elevated pipelines in infrastructure finance and agricultural finance, and plans to introduce a new product.
Feb 19, 2026, 9:30 PM
FEDERAL AGRICULTURAL MORTGAGE Reports Q4 2025 Performance
AGM
Earnings
Dividends
Revenue Acceleration/Inflection
- For 2025, Farmer Mac reported Core Earnings of $182.9 million and Core Earnings per Diluted Share of $16.66.
- The company's Outstanding Business Volume reached $33.35 billion as of December 31, 2025, representing a 13% year-over-year growth.
- The Net Effective Spread for 2025 was 1.20%.
- Farmer Mac announced that 2026 marks the 15th consecutive year of increased quarterly dividends, with Common Stock Dividends per Share at $6.00 for 2025.
- The company maintained strong credit quality, with 90-Day Delinquencies at 0.40% as of December 31, 2025, and minimal lifetime losses of only 0.15% on total cumulative business volume of $43 billion.
Feb 19, 2026, 9:30 PM
Farmer Mac Reports Record 2025 Revenue and Core Earnings, Increases Dividend
AGM
Earnings
Dividends
Share Buyback
- Farmer Mac achieved record revenue of $410 million and record annual core earnings of $183 million in 2025, marking its tenth consecutive year of record core earnings.
- The company's outstanding business volume surpassed $33 billion, with $3.8 billion in net new business volume in 2025, driven by broad-based growth across all segments, including infrastructure finance which grew to $11.8 billion.
- Farmer Mac increased its quarterly dividend by $0.10 to $1.60 per share, its 15th consecutive annual increase, and returned $78 million to shareholders through dividends and share repurchases in 2025.
- Full-year Net Effective Spread reached a record $383 million, a 13% increase from the prior year, while $32.9 million in provision for credit loss expense was recorded in 2025, primarily due to specific credit deteriorations and business volume growth.
- Core Capital increased by $204 million to $1.7 billion in 2025, exceeding statutory requirements by $678 million, and the company anticipates continued strong growth across all segments in 2026.
Feb 19, 2026, 9:30 PM
FEDERAL AGRICULTURAL MORTGAGE Reports Record 2025 Revenue and Core Earnings
AGM
Earnings
Dividends
Share Buyback
- Farmer Mac (AGM) reported a strong 2025, achieving record revenue of $410 million, a 13% increase year-over-year, and $183 million in core earnings, marking its 10th consecutive year of record annual core earnings.
- The company's outstanding business volume reached $33.4 billion by year-end 2025, reflecting a record $3.8 billion of net new business volume across all segments, including significant growth in Infrastructure Finance and Agricultural Finance.
- AGM increased its quarterly dividend by $0.10 per share to $1.60 per share, its 15th consecutive annual increase, and returned a total of $78 million to shareholders in 2025 through dividends and share repurchases.
- Provision for credit loss expense was $32.9 million in 2025, with charge-offs totaling $20.9 million, mainly from specific loans in Corporate AgFinance and Broadband Infrastructure.
- For 2026, Farmer Mac anticipates continued strong growth across all segments, especially in Infrastructure Finance and Farm and Ranch AgVantage, supported by a robust agricultural real estate market.
Feb 19, 2026, 9:30 PM
Farmer Mac Reports Record 2025 Results and Announces Dividend Increase
AGM
Earnings
Dividends
Revenue Acceleration/Inflection
- Farmer Mac reported record core earnings of $182.9 million, or $16.66 per diluted share, for the fiscal year ended December 31, 2025, reflecting 7% growth year-over-year.
- The company achieved a record net effective spread of $383.0 million for the full year 2025, an increase of 13% from the prior year, and net interest income grew 10% year-over-year to $390.7 million.
- Outstanding business volume reached $33.4 billion as of December 31, 2025, with a growth of $3.8 billion or 13% year-over-year.
- On February 18, 2026, Farmer Mac's Board of Directors raised the quarterly common stock dividend by 7% to $1.60 per share, marking the fifteenth consecutive annual increase.
- As of December 31, 2025, total core capital stood at $1.7 billion and the Tier 1 Capital Ratio was 13.3%.
Feb 19, 2026, 9:17 PM
Farmer Mac Reports Strong 2025 Results and Announces Dividend Increase
AGM
Earnings
Dividends
Revenue Acceleration/Inflection
- Farmer Mac reported record outstanding business volume growth of $3.8 billion, an 13% increase year-over-year, reaching a total of $33.4 billion as of December 31, 2025.
- The company achieved record core earnings of $182.9 million, or $16.66 per diluted share, for the fiscal year ended December 31, 2025, reflecting 7% year-over-year growth and marking its tenth consecutive year of record annual core earnings.
- Net interest income increased 10% year-over-year to $390.7 million, and net effective spread grew 13% to a record $383.0 million for the year ended December 31, 2025.
- On February 18, 2026, Farmer Mac's Board of Directors raised the quarterly common stock dividend by 7% to $1.60 per share, which is the fifteenth consecutive annual increase.
Feb 19, 2026, 9:05 PM
Farmer Mac Completes $313.5 Million Agricultural Mortgage-Backed Securitization
AGM
Debt Issuance
New Projects/Investments
- Federal Agricultural Mortgage Corporation (Farmer Mac) completed its seventh agricultural mortgage-backed securitization (AMBS), totaling $313.5 million on December 3, 2025.
- The securitization included a $290.0 million senior tranche guaranteed by Farmer Mac and a $23.5 million unguaranteed subordinate tranche.
- Farmer Mac plans to grow its securitization platform and anticipates introducing a new product next year to support investor demand for agricultural assets.
Dec 3, 2025, 9:27 PM
Farmer Mac Closes $313.5 Million Agricultural Mortgage Securitization
AGM
Debt Issuance
New Projects/Investments
- Federal Agricultural Mortgage Corporation (Farmer Mac) has completed a $313.5 million securitization of agricultural mortgage loans, designated as FARM Series 2025-2.
- The mortgage pool for this securitization consists of 343 agricultural mortgage loans with an aggregate outstanding principal balance of approximately $313.5 million.
- The deal included a $290.0 million senior tranche guaranteed by Farmer Mac and a $23.5 million unguaranteed subordinate tranche.
- This transaction supports Farmer Mac's commitment to grow its securitization platform, enhance the agricultural mortgage-backed securities (AMBS) market, and improve credit accessibility in rural America.
- BofA Securities, Inc. and J.P. Morgan Securities LLC acted as joint bookrunners for the securitization.
Dec 3, 2025, 9:15 PM
Farmer Mac (AGM) Discusses Strong Growth, Diversification, and Financial Performance at 17th Annual Southwest IDEAS Conference
AGM
Revenue Acceleration/Inflection
Dividends
New Projects/Investments
- Federal Agricultural Mortgage Corporation (AGM), known as Farmer Mac, is a mission-oriented government-sponsored enterprise (GSE) with $40 billion in assets and $31 billion in business volume, providing liquidity to the agriculture and infrastructure sectors.
- The company has achieved significant growth, expanding its business volume from $19 billion to $31 billion over the last five years. This growth is fueled by diversification into more accretive areas like corporate agricultural finance, renewable energy, and broadband infrastructure, which have increased the overall net effective spread from 90 basis points to 120 basis points.
- Farmer Mac demonstrates strong financial performance with low double-digit revenue and EPS growth over the past decade, doubling revenue and current earnings in the last five years, and maintaining an average ROE of over 16%. The company has also delivered 14 consecutive years of dividend increases.
- The company maintains robust credit quality, evidenced by an average portfolio loan to value of 47% and only 12 basis points of cumulative losses on agricultural finance loans, supported by a highly diversified portfolio. It also boasts a strong liquidity position with $8 billion in liquidity and $900 million in cash, and has completed $1.8 billion in securitization transactions.
Nov 19, 2025, 3:55 PM
Federal Agricultural Mortgage Corporation (AGM) Discusses Business Growth and Strategy
AGM
Revenue Acceleration/Inflection
Dividends
New Projects/Investments
- Federal Agricultural Mortgage Corporation (AGM), a $40 billion asset organization with $31 billion in business volume, has achieved low double-digit compound annual growth rates in revenue and EPS over the last 10 years and doubled revenue and current earnings over the last five years, with expectations for a strong 2025.
- The company's business volume is divided into two-thirds agricultural finance (including farmland mortgages and corporate ag) and one-third infrastructure finance (power and utilities, renewable energy, and broadband), with significant growth in more accretive areas like corporate ag, renewable energy, and data centers.
- AGM maintains a strong credit profile with an average agricultural mortgage loan to value of 47% and only 12 basis points of cumulative losses over its lifetime.
- The company has delivered 14 consecutive years of dividend increases and an average ROE of over 16% for the past five years, with similar expectations for 2025.
Nov 19, 2025, 3:55 PM
Quarterly earnings call transcripts for FEDERAL AGRICULTURAL MORTGAGE.
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