Nice long term bull flag breakout here...



https://www.barchart.com/stocks/quotes/agm/technical-chart?plot=CANDLE&volume=total&data=MO&density=X&pricesOn=1&asPctChange=0&logscale=1&indicators=TREND&sym=AGM&grid=1&height=500&studyheight=100

~ Monday! $AGM ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $AGM ~ Earnings expected on Monday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=AGM&p=D&b=3&g=0&id=p88783918276&a=237480049




http://stockcharts.com/h-sc/ui?s=AGM&p=W&b=3&g=0&id=p54550695994



~ Google Finance: http://www.google.com/finance?q=AGM
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=AGM#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=AGM+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=AGM
Finviz: http://finviz.com/quote.ashx?t=AGM
~ BusyStock: http://busystock.com/i.php?s=AGM&v=2


<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=AGM >>>>>>



http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

$13.76 NOW!

Yes sir u lose...

Like i said before Michael Gerber for president.

This baby is hittin 35 bucks a share in no time IMHOP

WORD

ANYWAY..........

i am prolly gunna get shmammered tonight off of the 1 mil i just made off of mr. gerbers company and im gunna have mad hoes over.

Holy shmoly. Been selling on the way up... also lost some to covered calls. Looks like I should have kept everything! Only 350 shares left.

Michael Allen Gerber for PRESIDENT!

earnings tomorrow up from $8 friday to almost $11 now cheers Good news maybe on the numbers tomorrow

The only thing that has changed is the stock price.... still a small float and a core holding.
Earnings this week ... do not expect as big as spike as last times short covering....time will tell

Farmer Mac Has No Financial Exposure to CIT





WASHINGTON, July 16 /PRNewswire-FirstCall/ -- In response to inquiries regarding recent news reports that CIT Group, Inc.'s discussions with regulators about possible federal assistance had ended, Federal Agricultural Mortgage Corporation (Farmer Mac, NYSE: AGM and AGM.A) today reported that it currently holds no CIT securities in its investment portfolio. The Company reported that, on July 10, it sold its entire position of $35 million principal amount of CIT Group, Inc. bonds to mitigate its risk of loss on those securities.

Farmer Mac further reported that on July 10 it also sold its Fannie Mae Preferred stock holdings realizing a book gain on this transaction, thereby partially off-setting Farmer Mac's loss on its former CIT bond holdings. The net loss realized by Farmer Mac on the two transactions will be included in its third quarter 2009 results and was approximately $1 million.

Farmer Mac is a stockholder-owned instrumentality of the United States chartered by Congress to establish a secondary market for agricultural real estate and rural housing mortgage loans and rural utilities loans and to facilitate capital market funding for USDA-guaranteed farm program and rural development loans. Farmer Mac's Class C non-voting and Class A voting common stocks are listed on the New York Stock Exchange under the symbols AGM and AGM.A, respectively. Additional information about Farmer Mac is available on Farmer Mac's website at http://www.farmermac.com/.

DATASOURCE: Farmer Mac


CONTACT: Mary Waters of Farmer Mac, +1-202-872-7700


Web Site: http://www.farmermac.com/

Farmer Mac Declares Quarterly Dividends on Common and Preferred Stock
Date : 06/04/2009 @ 4:15PM
Source : PR Newswire
Stock : Federal Agricultural Mortgage Corp. (AGM)
Quote : 5.38 -0.08 (-1.47%) @ 8:00PM


Farmer Mac Declares Quarterly Dividends on Common and Preferred Stock





WASHINGTON, June 4 /PRNewswire-FirstCall/ -- The Board of Directors of the Federal Agricultural Mortgage Corporation (Farmer Mac) has declared a quarterly dividend on each of the Corporation's three classes of common stock -- Class A Voting Common Stock (NYSE:AGM.A), Class B Voting Common Stock (not listed on any exchange), and Class C Non-Voting Common Stock (NYSE:AGM). The quarterly dividend of $0.05 per share of common stock will be payable on June 30, 2009 to holders of record of common stock as of June 15, 2009.

Farmer Mac's Board of Directors has also declared quarterly dividends on the Corporation's Series B and Series C Preferred Stock, none of which is listed on any exchange. The quarterly dividends of $25.00 per share of Series B Preferred Stock and $12.50 per share of Series C Preferred Stock are for the period from April 1, 2009 through June 30, 2009 and will be payable on June 30, 2009 to holders of record of preferred stock as of June 20, 2009. Each share of Series B and Series C Preferred Stock has a par value and liquidation preference of $1,000.00 per share.

Farmer Mac is a stockholder-owned instrumentality of the United States chartered by Congress to establish a secondary market for agricultural real estate and rural housing mortgage loans and rural utilities loans and to facilitate capital market funding for USDA-guaranteed farm program and rural development loans. Additional information about Farmer Mac is available on Farmer Mac's website at http://www.farmermac.com/.

DATASOURCE: Farmer Mac


CONTACT: Mary K. Waters of Farmer Mac, +1-202-872-7700


Web Site: http://www.farmermac.com/

i don't quite know what you're getting at.

you're asking about my profitability characterizations between agm, pudc, and llfh.

agm has "volatile profitability"

pudc is cheap and regularly profitable, and is growing (eventually an uplisting in my opinion)

llfh is less cheap, applying for an uplisting and also profitable.

If profitability is important to you why did you pick up Puda instead of L and L as Puda is about 6% vs 35%
I own all 3 stocks mentioned

shakey to me means that their quarterly incomes are unpredictable as far as profitability goes.

If shaky means selling more loans than your market cap while your waiting for the government to set you up as one of their green banks...then I love this shaky play that pays a dividend!

Still a core holding of mine even after profit taking.

hmm, radared. looks shaky. will dig

Sitting at $6.31

Great day for AGM up 113% today. Any idea how high this could go?

Fundamentals say this stock is super cheap
Small Float and Earnings this week has me rather happy I own this Ag Bank.

Farmer Mac Reports 2008 Results

Reduces Quarterly Dividend on Common Stock

WASHINGTON, March 16 /PRNewswire-FirstCall/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A) today reported a fourth quarter net loss of $61.1 million, or $6.03 per diluted common share for the three months ended December 31, 2008, and a full year 2008 net loss to common stockholders of $154.1 million or $15.40 per diluted common share. These results primarily reflected fourth quarter losses on financial derivatives and provisions for losses principally related to certain of its credits in the ethanol sector and the previously announced third quarter losses on certain investments. Consistent with Farmer Mac's focus on capital compliance, the board of directors reduced the common stock dividend to $0.05 per share from its previous level of $0.10 per share. The common stock dividend will be payable on April 3, 2009 to stockholders of record on March 24, 2009.

"The unprecedented turmoil in the capital markets and the sharp downturn in the national economy have been significant factors in causing the second half of 2008 to be the most difficult in Farmer Mac's history," said Michael A. Gerber, Farmer Mac's newly appointed President and Chief Executive Officer. "In response, we have begun taking actions intended to mitigate the impact of these conditions going forward. We have concluded a review of Farmer Mac's investment portfolio operations and taken actions to address the difficult market dynamics that have emerged and seem likely to prevail in the time ahead. We have adjusted our funding strategies to reduce the reliance on financial derivatives that have adversely affected our capital position, notwithstanding that all of our derivatives have been economically effective.

"Despite the difficult second half of 2008, Farmer Mac has continued to have access to the debt markets to fund its program assets. We raised $124.2 million in capital through preferred stock offerings at the end of the third quarter and during the fourth quarter, ensuring compliance with regulatory capital requirements. As we look ahead to Farmer Mac responding to the credit needs of rural America in 2009 and beyond, capital strength will continue to be important. Within this context, the Corporation's Board of Directors decided to reduce the quarterly common stock dividend from 10 cents per share to 5 cents per share."

Loans underlying the Corporation's guarantees and commitments grew to a record $10.1 billion at year end and, with the exception of ethanol loans, continued to perform well during 2008. Delinquencies on non-ethanol loans have remained near historically low levels consistent with the strength of the U.S. agricultural economy through the end of the year. Farmer Mac's 90day delinquencies, including ethanol loans, were $67.1 million, representing 1.35 percent of the portfolio, as of December 31, 2008. Excluding the ethanol loans, 90-day delinquencies were $17.9 million, or 0.36 percent of the portfolio. The fourth quarter provisions for losses of $17.2 million were largely due to the bankruptcy of one ethanol producer and construction issues related to another ethanol plant. The ethanol industry has suffered due to the volatility of commodity prices. While those prices have stabilized, the industry still faces significant challenges.

"Farmer Mac's outlook for 2009 is mixed," Mr. Gerber continued. "We expect the turmoil in the financial markets will continue to create challenges to Farmer Mac's ability to raise capital and securitize its assets. While agriculture has been strong, the industry is not insulated from the effects of the economic downturn. Some sectors continue to prosper, while others, such as ethanol producers, dairy farmers and the protein sector (e.g., cattle, poultry and pork producers) are experiencing pressure on profitability. In addition, significant portions of California and Texas are facing the effects of persistent drought. Farmer Mac continues to closely monitor developments in those industries and areas experiencing stress. We anticipate stress in the portfolio is likely to increase in 2009, although any resultant credit issues are expected to remain within manageable levels.

"Looking ahead, there should be a growing need for financial vehicles to expand credit availability to those agricultural industries that have sound financial fundamentals due to the broader trends underway now, such as the deleveraging of capital. These trends will likely have the effect of reducing credit availability from traditional lenders to the agricultural sector. This presents opportunities that Farmer Mac is actively pursuing.

"There will also be opportunities for loan growth in the rural utilities segment, a new area for Farmer Mac as a result of the legislative expansion of its charter in May 2008. Farmer Mac expects to continue the growth it experienced in this sector during 2008 in providing financing to rural utilities lenders. Farmer Mac expects that demand for rural utilities loans will be robust, particularly as the industry adds significant new capacity for the first time since the 1970s. Furthermore, additional power transmission lines will need to be constructed as the development of wind and solar power plants increase the demand for means to transfer power from the source of clean power generation to the ultimate consumer. Farmer Mac's ability to participate in the growth of the rural utilities portion of its business will be limited by Farmer Mac's limits on borrower exposures and its overall risk tolerance. Public policy shifts in the energy sector may also alter Farmer Mac's opportunities in this area, as electrical power generated by and for rural electric cooperatives tends to be biased toward coal as a fuel."

In addition to reporting financial results on a GAAP basis, Farmer Mac also reports its core earnings, a non-GAAP measure. Farmer Mac uses core earnings to measure corporate economic performance and develop financial plans because, in management's view, core earnings more accurately represent Farmer Mac's economic performance, transaction economics and business trends before the effects on earnings of changes in the fair values of financial derivatives and trading assets. Those changes reflect the application of Statement of Financial Accounting Standards No. 133, Accounting for Derivative Instruments and Hedging Activities ("SFAS 133") and Statement of Financial Accounting Standards No. 159, The Fair Value Option for Financial Assets and Financial Liabilities - Including an amendment of FASB Statement No. 115 ("SFAS 159"). Farmer Mac's disclosure of this non-GAAP measure is not intended to replace GAAP information but, rather, to supplement it.

Core earnings were a loss of $8.8 million or $0.86 per diluted share for fourth quarter 2008, compared to core earnings of $10.5 million or $1.00 per diluted share for fourth quarter 2007. For the year ended December 31, 2008, core earnings were a loss of $81.5 million or $8.15 per diluted share, compared to 2007 core earnings of $29.9 million or $2.82 per diluted share. Excluding the effects of the other-than-temporary impairment charges recognized during 2008, core earnings would have been $24.7 million. Farmer Mac had no other-than-temporary impairment charges during 2007.

Izard Nobel LLP Announces Class Action Lawsuit Against Federal Agricultural Mortgage Corp.

HARTFORD, CT -- (Marketwire) -- 12/11/08 -- The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the District of Columbia on behalf of those who purchased the publicly traded securities of Federal Agricultural Mortgage Corp. (NYSE: AGM) ("Farmer Mac" or the "Company") between March 15, 2007 and September 12, 2008, inclusive (the "Class Period").

The Complaint charges that Farmer Mac and certain of its officers and directors violated federal securities laws by misrepresenting the Company's financial and operational results. Specifically, defendants failed to disclose that: (i) Farmer Mac's results had been inflated through manipulations relating to the characterization of impairment costs and/or depreciation expenses which inflated the Company's reported cash flows, gross margins and core and GAAP-earnings; (ii) the Company's financial results were inflated by defendants' use of overly optimistic assumptions of asset valuations and investments, which were also reflected in defendants' misuse of mark-to-market accounting; (iii) the Company's exposure to investment losses and credit problems of trading partners such as Lehman Brothers and Fannie Mae was much greater than represented; and (iv) the Company was not on track to meet or exceed guidance sponsored or endorsed by defendants.

Farmer Mac Appoints Michael A. Gerber as President and Chief Executive Officer

WASHINGTON, March 11 /PRNewswire-FirstCall/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac) (NYSE:AGMNYSE:andNYSE:AGM.A) today announced that its Board of Directors has appointed Michael A. Gerber as President and Chief Executive Officer of Farmer Mac, effective immediately. Mr. Gerber had served as Acting President and CEO of Farmer Mac since October 1, 2008 while the Board conducted a search for the permanent CEO. Mr. Gerber previously served as President and Chief Executive Officer of Farm Credit of Western New York, an Association in the Farm Credit System.

New ICBA/Farmer Mac Program Will Enhance Community Banks' Lending Efforts





WASHINGTON, Jan. 15 /PRNewswire/ -- The Independent Community Bankers of America (ICBA) and the Federal Agricultural Mortgage Corporation (Farmer Mac) (NYSE:AGM) today announced a new program that will provide pricing discounts for ICBA members on several popular Farmer Mac loan offerings. Through the program, ICBA members will also have access to special Farmer Mac educational tools and communication links to help answer questions about delivering loans to the Farmer Mac secondary market.

"ICBA is pleased to join with Farmer Mac to offer this exciting new program to community bankers for their agricultural real estate lending needs," said Camden R. Fine, ICBA president and CEO. "We encourage community bankers to take full advantage of the program since it offers attractive loan products, including a 30-year loan, and provides tools and pricing discounts that will enhance their competitiveness in the marketplace."

ICBA member banks approved to use Farmer Mac's existing programs will automatically be enrolled in the new program. Farmer Mac will feature the program in a presentation during the 2009 ICBA National Convention and Techworld in Phoenix from March 18-22. Farmer Mac will also explain the offerings through webinars and other communications with its customer network.

"Farmer Mac recognizes the important role that ICBA plays in giving community banks a competitive edge in the marketplace," said Michael A. Gerber, Farmer Mac Acting President and CEO. "This program helps support that role by providing ICBA members access to a variety of specially priced loan products and risk management tools. At the same time, the program allows Farmer Mac to continue its mission of providing liquidity and lending capacity to rural America."

In addition to the complete list of Farmer Mac products, the program offers ICBA members four special discounted options that provide farm borrowers with greater flexibility in managing the trade-off between the interest rate on their real estate loans and changing rate environments. The products available are:

-- Two repricing products where the rate is set for 10-year periods, with loan terms of 15, 20, 25 or 30 years, depending on the product chosen.

-- A 5-year product that reprices every five years, with loan terms of 10, 15, 20, or 25 years.

-- An open prepay product indexed to LIBOR (London Interbank Offered Rate) that reprices monthly with loan terms of 15 or 25 years.


For more information about the program for ICBA members, call Farmer Mac at 1-800-879-3276.

About Farmer Mac

Farmer Mac is a stockholder-owned instrumentality of the United States chartered by Congress to establish a secondary market for qualified agricultural mortgage loans, rural housing mortgage loans, rural utilities (to cooperative borrowers made by cooperative lenders) and the guaranteed portions of agricultural and rural development loans guaranteed by the U.S. Department of Agriculture. Farmer Mac's Class C non-voting and Class A voting common stocks are listed on the New York Stock Exchange under the symbols AGM and AGM.A, respectively. Additional information about Farmer Mac is available on Farmer Mac's website at http://www.farmermac.com/.

About ICBA

The Independent Community Bankers of America, the nation's voice for community banks, represents nearly 5,000 community banks of all sizes and charter types throughout the United States and is dedicated exclusively to representing the interests of the community banking industry and the communities and customers we serve. For more information, visit http://www.icba.org/.

DATASOURCE: Farmer Mac; ICBA


CONTACT: Mary Waters of Farmer Mac, +1-202-872-7700, or Aleis Stokes of

ICBA, +1-202-821-4457


Web Site: http://www.farmermac.com/

BRIEF-Farmer Mac raises $50 million of new capital
Date : 12/16/2008 @ 8:45AM
Source : TFN
Stock : Federal Agricultural Mortgage Corp (AGM)
Quote : 2.81 0.07 (2.55%) @ 8:00PM


BRIEF-Farmer Mac raises $50 million of new capital




Dec 16 (Reuters) - Federal Agricultural Mortgage Corp:
* Farmer mac raises $50 million of new capital
* Says declares $0.10 per share quarterly common stock dividend
* Says issued $85 million of new preferred stock and the retired of $35
million
of existing preferred stock
* Says each member of board voluntarily forfeited stock appreciation rights
granted in June 2008
* Says agreed to guarantee and purchase up to $500 million of secured debt
to
be issued by national rural
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223
8780))
((For more news, please click here))
Dec 16 (Reuters) - Federal Agricultural Mortgage Corp:
* Farmer mac raises $50 million of new capital
* Says declares $0.10 per share quarterly common stock dividend
* Says issued $85 million of new preferred stock and the retired of $35
million
of existing preferred stock
* Says each member of board voluntarily forfeited stock appreciation rights
granted in June 2008
* Says agreed to guarantee and purchase up to $500 million of secured debt
to
be issued by national rural
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223
8780))
((For more news, please click here))
Dec 16 (Reuters) - Federal Agricultural Mortgage Corp:
* Farmer mac raises $50 million of new capital
* Says declares $0.10 per share quarterly common stock dividend
* Says issued $85 million of new preferred stock and the retired of $35
million
of existing preferred stock
* Says each member of board voluntarily forfeited stock appreciation rights
granted in June 2008
* Says agreed to guarantee and purchase up to $500 million of secured debt
to
be issued by national rural
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223
8780))

(For more news, please click here)

COPYRIGHT

Copyright Thomson Reuters 2008. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including
by framing or similar means, is expressly prohibited without the prior written
consent of Thomson Reuters.

Farmer Mac Raises $65 Million in Capital Through the Issuance of Senior Preferred Shares


WASHINGTON, Oct. 1 /PRNewswire-FirstCall/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac) (NYSE:AGMNYSE:andNYSE:AGM.A) today announced an investment of $65 million in the form of non-voting Senior Cumulative Perpetual Preferred Stock, Series B-1 and Series B-2. Investors are AgFirst Farm Credit Bank; AgriBank, FCB; CoBank, ACB; Farm Credit Bank of Texas; U.S. AgBank, FCB and Zions Bancorporation.

Lowell Junkins, Acting Chairman of the Board of Farmer Mac stated, "This capital infusion, made by investors who know us well with the full support of our regulator, meets our commitment to satisfy regulatory requirements and support our plans to further our congressional mission for the benefit of farmers, ranchers and rural residents. We appreciate the confidence these investors have shown in the strength of our core business."

With this transaction, Farmer Mac satisfied its previously announced intent to implement strategies to restore its capital position and to meet regulatory requirements. This additional capital was necessary due in part to impairment charges on Farmer Mac's investments in Fannie Mae preferred stock and Lehman Brothers Holdings Inc. senior debt securities, as previously disclosed.

Sale of Senior Preferred Shares

The Senior Cumulative Perpetual Preferred Stock, Series B-1 and Series B-2 are not convertible and are perpetual. Distributions on the preferred securities are cumulative and will be payable quarterly, in cash, at an annual interest rate of 10%, increasing to 12% after one year, 14% after two years, and 16% after three years. Interest payments are due in March, June, September and December of each year beginning in December 2008. The securities are redeemable in whole by Farmer Mac beginning nine months after their date of issuance.

Series B-1 Preferred Stock investors will have Board observation rights. Consent of the Series B-1 Preferred Stockholders will be required for certain actions, including certain management changes and the adoption or approval by Farmer Mac of material new business initiatives or programs or material expansions of existing business.

The Senior Preferred Securities were offered and sold in reliance upon the Section 3(a)(2) exemption under the Securities Act of 1933, as amended, that is available for securities issued by an instrumentality of the U.S. government.

Farmer Mac is a stockholder-owned instrumentality of the United States chartered by Congress to establish a secondary market for agricultural real estate and rural housing mortgage loans and rural utilities loans and to facilitate capital market funding for USDA-guaranteed farm program and rural development loans. Farmer Mac's Class C non-voting and Class A voting common stocks are listed on the New York Stock Exchange under the symbols AGM and AGM.A, respectively. Additional information about Farmer Mac is available on Farmer Mac's website at http://www.farmermac.com/.

DATASOURCE: Farmer Mac


CONTACT: Mary Waters of Farmer Mac, +1-202-872-7700


Web site: http://www.farmermac.com/

Farmer Mac Reports Third Quarter Results
Date : 11/10/2008 @ 7:18PM
Source : PR Newswire
Stock : (AGM)
Quote : 2.81 0.07 (2.55%) @ 8:00PM


Farmer Mac Reports Third Quarter Results

$9.8 Billion Guarantee Portfolio Remains Strong; Results Significantly Affected by Previously Announced Investment Losses

WASHINGTON, Nov. 10 /PRNewswire-FirstCall/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac, NYSE: AGM and AGM.A) today stated that previously reported large writedowns on two investments -- Fannie Mae and Lehman Brothers Holdings Inc. -- were the primary contributors to Farmer Mac incurring a loss on both a core earnings and a GAAP basis for third quarter 2008. Exclusive of those writedowns, Farmer Mac would have reported core earnings for third quarter of $6.7 million. Farmer Mac's underlying business remains sound, and the investment losses were somewhat reduced by higher net interest income attributable to continued favorable funding costs, as well as ongoing fee income from the Corporation's $9.8 billion guarantee portfolio.

In September 2008, when Fannie Mae entered conservatorship and Lehman Brothers Holdings Inc. declared bankruptcy, Farmer Mac held in its investment portfolio $50.0 million of Fannie Mae floating rate preferred stock and $60.0 million of Lehman Brothers senior debt securities. As a result of these events, Farmer Mac recognized other-than-temporary impairment charges on these holdings of $44.7 million (in addition to the $5.3 million other-than-temporary impairment recorded in the second quarter) and $52.4 million, respectively, during third quarter 2008.

On a GAAP basis, Farmer Mac's third quarter 2008 net loss was $106.1 million or $10.55 per diluted share, compared to a net loss of $8.6 million or $0.82 per diluted share for third quarter 2007. For the nine months ended September 30, 2008, the net loss to common stockholders was $93.0 million or $9.33 per diluted share, compared to net income of $13.7 million or $1.29 per diluted share for the nine months ended September 30, 2007.

Farmer Mac Appoints Michael A. Gerber as Acting President and Chief Executive Officer





WASHINGTON, Oct. 1 /PRNewswire-FirstCall/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac) (NYSE:AGMNYSE:andNYSE:AGM.A) today announced that its Board of Directors has appointed Michael A. Gerber as acting President and Chief Executive Officer of Farmer Mac, succeeding Henry D. Edelman, effective immediately. Mr. Gerber will continue to serve as Chief Executive Officer of Farm Credit of Western New York, an Association in the Farm Credit System.

In conjunction with Mr. Gerber's appointment, the Board has constituted an Executive Committee of the Board, consisting of Mr. Gerber, Lowell L. Junkins, the Acting Chairman of the Board, and Dennis A. Everson, President of First Dakota National Bank, Agri-business Division. The Committee will work closely with Mr. Gerber and the continuing officers of Farmer Mac with respect to Farmer Mac's operations, capital structure and transition issues, including the search for a new, permanent Chief Executive Officer.

Farmer Mac was created in response to the farm credit crisis of the mid-1980’s and
subsequent calls from commercial rural bankers for a liquidity source similar to that
provided for residential mortgages by the so-called housing GSEs, Fannie Mae and
Freddie Mac. Amendments in 1996 to Farmer Mac’s authorizing legislation have
allowed this GSE to grow its business and achieve economic viability, which was by no
means certain in the first few years of its operation. To illustrate that point, the new
authorities provided in the Farm Credit System Reform Act of 1996 (1996 Act), helped
launch Farmer Mac’s first year of positive earnings in that year, when net income was
$777,000. Net income generally has risen as rapidly as program growth since then and
reached $25 million at year-end 2003, representing a 5-year average annual growth rate
of 35 percent while program growth averaged 37 percent over the same period.


http://74.6.239.67/search/cache?ei=UTF-8&p=What+is+Farmer+Mac+subsidiary+AGM.A&y=Search&fr=ush1-finance&u=https://www.fca.gov/pdfs/Nancy%2520Pellett%2520Testimony-June%25202%2C%25202004.pdf&w=farmer+mac+subsidiary+agm&d=D2rB752uSdAU&icp=1&.intl=us