Farmer mac reports first quarter 2021 results

Washington, may 6, 2021 /prnewswire/ -- the federal agricultural mortgage corporation (farmer mac; nyse: agm and agm.a), the nation's secondary market provider that increases the availability and affordability of credit for the benefit of rural america, today announced its results for the fiscal quarter ended march 31, 2021. first quarter 2021 highlights provided $1.5 billion in liquidity and lending capacity; net income attributable to common stockholders was $28.0 million, or $2.58 per diluted common share; core earnings, a non-gaap measure, grew 29% from the prior-year period to $25.9 million, or $2.39 per diluted common share; net interest income grew $12.0 million year-over-year to $53.3 million; net effective spread, a non-gaap measure, increased 22% from the prior-year period to $53.9 million; 90-day delinquencies were 0.33% of total outstanding business volume as of march 31, 2021; and continued strong liquidity position, as evidenced by quarter-end cash position of $1.0 billion.
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