Federal Agricultural Mortgage Corporation (Farmer Mac) announced record financial performance for the second quarter ended June 30, 2025. The company achieved record core earnings of $47.4 million, representing a 19% increase year-over-year.
Net effective spread also reached a record $93.9 million, up over 12% from the prior year, driven by higher average loan balances and a strategic shift towards higher-spread businesses. Total outstanding business volume surpassed $30 billion for the first time.
The Infrastructure Finance line of business was a significant growth driver, expanding by $644 million in Q2 2025 to $10.4 billion. The Renewable Energy segment grew by $332 million, a 122% year-over-year increase, reaching nearly $2 billion, while Broadband Infrastructure increased by $200 million to $1.2 billion.
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