Farmer Mac Reports Record Q3 2026 Business Volume and Growth in Renewable Energy
Farmer Mac (AGM) reported strong third-quarter 2026 results, highlighted by a total business volume of $38.5 billion, representing a 24% increase driven by record demand across all segments. Core earnings reached $52.6 million, or $4.82 per diluted share, marking a 7% year-over-year improvement. The company saw significant momentum in its infrastructure finance division, particularly within renewable energy, which achieved its largest quarterly growth in history with a net growth of $586 million. Despite the robust volume, the company noted some credit headwinds. Substandard assets rose to 2.1% of the total portfolio due to credit migration in drought-impacted regions and fruit sectors. Additionally, a single broadband sector bankruptcy contributed $4.4 million to the credit loss provision. However, management maintained an efficient expense profile with an efficiency ratio of 27.5%, remaining below their long-term target.