WASHINGTON (AP) — WASHINGTON (AP) — Federal Agricultural Mortgage Corp. (AGM) on Monday reported first-quarter net income of $53.7 million.
The Washington-based company said it had net income of $4.28 per share. Earnings, adjusted for non-recurring gains, came to $3.96 per share.
The rural real estate lender posted revenue of $403.6 million in the period. Its adjusted revenue was $93.7 million.
Farmer Mac shares have increased nearly 2% since the beginning of the year. The stock has risen 53% in the last 12 months.
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