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: $29,507,000
Asssets: $4,340,619,000 | Earnings Per Share: $2.37
Stockholder Equity: $248,132,000 | Annual Dividend: $0.40
Total employees: 46 | Local employees: 41