---
schema_version: "secwatch.filing_event.v1"
accession: "0000845877-23-000025"
form_type: "8-K"
ticker: "AGM"
cik: "0000845877"
company_name: "FEDERAL AGRICULTURAL MORTGAGE CORP"
filed_at: "2023-02-24T23:59:59+00:00"
generated_at: "2026-06-19T01:06:42.395580+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Farmer Mac reports record 2022 results; raises quarterly dividend 16% to $1.10

## Summary
- Net income attributable to common stockholders up 36% YoY to $151.0M; diluted EPS $13.87 (GAAP) vs $10.27 prior year.
- Record core earnings of $124.3M ($11.42 per diluted share), up 9% YoY; net effective spread up 16% to $255.5M.
- Board raised quarterly common dividend 16% to $1.10 per share, payable March 31, 2023 to holders of record March 16, 2023.
- Outstanding business volume $25.9B; added $9.0B gross volume, net growth $2.3B; 90-day delinquencies only 0.17%.
- Total core capital $1.3B, exceeding statutory requirement by 64%; Tier 1 Capital Ratio 14.9%.

## SEC filing metadata
- accession: 0000845877-23-000025
- form_type: 8-K
- ticker: AGM
- cik: 0000845877
- company_name: FEDERAL AGRICULTURAL MORTGAGE CORP
- filed_at: 2023-02-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/845877/000084587723000025/0000845877-23-000025-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/845877/000084587723000025/agm-20230224.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000845877-23-000025
- JSON: https://secwatch.observer/filing/0000845877-23-000025.json
- Plain text: https://secwatch.observer/filing/0000845877-23-000025.txt

## Key facts
- Earnings Releases
  FEDERAL AGRICULTURAL MORTGAGE CORP reported the fiscal year ended December 31, 2022 results: revenue $270.9 million, net income $151.0 million, EPS $13.87.
  - Period: the fiscal year ended December 31, 2022
  - Revenue: $270.9 million
  - Net income: $151.0 million
  - EPS: $13.87
  - Result: reported results
  source text: Full Year 2022 and Recent Highlights • Added $9.0 billion of gross business volume, resulting in net growth of $2.3 billion • Net interest income grew 22% year-over-year to $270.9 million • Net effective spread 1 increased 16% from the prior-year period to a record $255.5 million • Net income attributable to common stockholders increased 36% year-over-year to $151.0 million • Record core earnings 1 of $124.3 million, or $11.42 per diluted common share, reflecting 9% growth year-over-year • 90-day delinquencies were 0.17% across the entire $25.9 billion portfolio as of year-end • Maintained strong capital position with total core capital of $1.3 billion, exceeding statutory requirement by 64% and a Tier 1 Capital Ratio of 14.9% as of year-end • On February 22, 2023, Farmer Mac's Board of Directors raised the quarterly dividend on common stock by 16% to $1.10 per share, the twelfth consecutive annual increase $ in thousands, except per share amounts Quarter Ended Year Ended Dec. 31, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/845877/000084587723000025/0000845877-23-000025-index.htm
- Earnings Releases
  FEDERAL AGRICULTURAL MORTGAGE CORP reported the fiscal quarter ended December 31, 2022 results: revenue $73,635, EPS $3.36.
  - Period: the fiscal quarter ended December 31, 2022
  - Revenue: $73,635
  - EPS: $3.36
  - Result: reported results
  source text: $ in thousands, except per share amounts Quarter Ended Year Ended Dec. 31, 2022 Dec. 31, 2021 YoY % Change Dec. 31, 2022 Dec. 31, 2021 % Change Net Change in Business Volume $595,444 $495,672 N/A $2,307,619 $1,690,368 N/A Net Interest Income (GAAP) $73,635 $53,836 37% $270,940 $221,951 22% Net Effective Spread (Non-GAAP) $71,103 $54,333 31% $255,529 $220,668 16% Diluted EPS (GAAP) $3.36 $2.49 35% $13.87 $10.27 35% Core EPS (Non-GAAP) $3.16 $2.76 14% $11.42 $10.47 9%
  evidence_url: https://www.sec.gov/Archives/edgar/data/845877/000084587723000025/0000845877-23-000025-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.