Farmer Mac Reports Second Quarter Results

Published: August 11, 2007, 2:21 pm

Tags: mortgage industry press release, farmer, r, agm

WASHINGTON, Aug. 9 /PRNewswire-FirstCall/ — The Federal Agricultural Mortgage Corporation (Farmer Mac) (NYSE:AGM) (NYSE:and) (NYSE:AGM.A) today announced that it achieved strong new business volume in the quarter ending June 30, 2007, bringing its outstanding program volume as of that date to a record $8.4 billion. Farmer Mac noted that its guarantee portfolio, consisting of guarantees, loans and commitments, is performing well, with delinquencies at historic lows in terms of both dollars and percentages. Farmer Mac’s U.S. GAAP net income available to common stockholders for second quarter 2007 was $18.4 million or $1.74 per diluted share, compared to $13.4 million or $1.18 per diluted share for second quarter 2006. For the six months ended June 30, 2007, net income available to common stockholders was $22.3 million or $2.10 per diluted share, compared to $28.5 million or $2.50 per diluted share for the six months ended June 30, 2006. (more…)Mortgage Industry

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