secwatch.observer — SEC 8-K summary
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Issuer:     FEDERAL AGRICULTURAL MORTGAGE CORP (AGM)
CIK:        0000845877
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0000845877-23-000135
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Farmer Mac Q1 2023: record core earnings $38.9M, net interest income up 21% YoY, GAAP EPS down 10%
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- Core earnings record $38.9M ($3.56 diluted), up 51% YoY; GAAP net income $40.2M, down from $44.7M.
- Net interest income $79.1M (+21% YoY); net effective spread $77.2M (+33% YoY) all-time record.
- Business volume $26.5B, net growth $0.6B; 90-day delinquencies 0.27% across portfolio.
- Core capital $1.4B, 65% above statutory requirement; Tier 1 Capital Ratio 15.7%.
- Closed third securitization of ~$300M in agricultural mortgage loans.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/845877/000084587723000135/0000845877-23-000135-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/845877/000084587723000135/agm-20230509.htm
  HTML page:      https://secwatch.observer/filing/0000845877-23-000135

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer