PR Newswire·May 5, 2026, 4:05 PM ET

Farmer Mac Reports First Quarter 2026 Results

Farmer Mac reported a record outstanding business volume of $34.8 billion for the first quarter ended March 31, 2026, representing 17% year-over-year growth.
Net interest income increased 11% year-over-year to $101.4 million, while net income attributable to common stockholders reached $51.8 million or $4.75 per diluted share.
Net effective spread & core earnings both grew 13% year-over-year, with core earnings totaling $51.7 million.
The company provided $3.4 billion in liquidity & lending capacity to lenders serving rural America during the quarter.
Total core capital stood at $1.7 billion with a Tier 1 Capital Ratio of 13.0% as of March 31, 2026.
Broadband Infrastructure volume grew 73% year-over-year, while Renewable Energy volume surged 80% year-over-year.
CEO Brad Nordholm highlighted record results & broad-based growth, noting his anticipated retirement & CEO succession plans while expressing confidence in the company's future.
Credit provisions were primarily driven by new volume growth & portfolio credit migration within the Agricultural Finance line of business.
Farmer Mac purchased $45.0 million of tax credits, resulting in a $4.2 million benefit for the quarter.
Operating efficiency remained below the long-term strategic target, & diluted core EPS increased 13% year-over-year to $4.74.