Farmer Mac today reported $1.5 billion in net new business growth in the fourth quarter, generating a record outstanding business volume of $17.4 billion as of Dec. 31, 2016. The strong earnings were partially due to improved credit quality, with delinquencies of 90 days or more falling to 0.34 percent, down from 0.56 percent at the end of 2015.
The company’s core earnings increased to $53.8 million in 2016, up from $47 million a year earlier. Core capital totaled $609.7 million, 31 percent above statutory capital requirements.
