Farmer Mac / AGM
About Farmer Mac
1133 21st St. NW, Suite 600, Washington, D.C. 20036
www.farmermac.com
| 202-872-7700
| Founded: 1988
Industry: Financial Services | Category: Public Companies
Farmer Mac's special advantages, including lower capital requirements and a backup line of credit to the U.S. Treasury, have come under question in recent years from critics, including competitors, who said the corporation had an unfair competitive advantage. The Farm Credit Administration, which regulates Farmer Mac, responded by proposing new rules that raise the corporation's capital requirements. One new regulation became effective on Sept. 30.
In a November conference call, Farmer Mac chief executive Henry D. Edelman said the corporation's new business with agricultural mortgage lenders was being hampered by, among other things, high levels of capital and liquidity by these lenders and increased competition in the secondary market.
Farmer Mac's loan portfolio and guarantees reached $5.8 billion in January 2006, up from $5.5 billion at the end of 2004.
President and CEO: Michael A. Gerber
2005 Financial Data
Revenues: $53,473,000 | Net Income: $29,507,000Asssets: $4,340,619,000 | Earnings Per Share: $2.37
Stockholder Equity: $248,132,000 | Annual Dividend: $0.40
Total employees: 46 | Local employees: 41
Company Leadership
| Henry D. Edelman | President and CEO |
| Nancy E. Corsiglia | VP, Finance and CFO |
| Tom D. Stenson | VP, Agricultural Finance |
| Michael P. Morris | VP, agricultural credit |
| Timothy L. Buzby | VP, Controller |
Source: Compensation data provided by Equilar, Inc..
| Henry D. Edelman President and CEO | $2,936,012 Salary: $506,060 |
| Nancy E. Corsiglia VP, Finance and CFO | $1,483,381 Salary: $324,642 |
| Tom D. Stenson VP, Agricultural Finance | $1,121,131 Salary: $265,786 |
| Michael P. Morris VP, agricultural credit | $733,053 Salary: $208,750 |
| Timothy L. Buzby VP, Controller | $719,148 Salary: $220,310 |
Did You Know
Farmer Mac, formally known as the Federal Agricultural Mortgage Corp., is a government-sponsored, stockholder-owned enterprise that buys farm mortgages from lenders and holds them in its portfolio or sells them to investors. Created by Congress in 1987, its primary mission is to ensure that banks and independent associations that make up the Farm Credit System have cash for farm mortgages.