1、Americas Growth Partner2022 ANNUAL REPORTFARMER MACS SECONDARY MARKET ECOSYSTEM$Loans$LoansFINANCIAL INSTITUTIONSAGRIBUSINESSRURAL INFRASTRUCTUREFARMERS&RANCHERSDebt&Equity Financing Debt Service&DividendsCAPITAL MARKETS32022 ANNUAL REPORTLetter From Our CEO and ChairBRADFORD T.NORDHOLMPresident and
2、 Chief Executive OfficerLOWELL L.JUNKINSBoard Chair12022 ANNUAL REPORTWE ARE AMERICAS GROWTH PARTNERIt is an honor to once again address all of Farmer Macs valued stakeholdersour investors,customers,and employees,as well as Americas farmers,ranchers,and rural residentsto report on our companys progr
3、ess and impact.On behalf of the entire company,we are happy to share with you the successes we achieved in 2022,which were bolstered by diverse revenue streams,disciplined asset liability management,and a strong capital position that enabled us to deliver outstanding results even in volatile market
4、conditions.We also want to share our sincere gratitude for all our stakeholders who helped make 2022 a record year for revenue,earnings,net effective spread,and outstanding business volumes in nearly all segments.Farmer Mac as an organizationfrom our Board of Directors to our management team to our
5、employeesis composed of people from diverse backgrounds and equipped with a wide array of skills.Yet we are all united by a passion for our mission to increase the accessibility of financing for American agriculture and rural infrastructure.We are proud to work for an organization that has been a ch
6、ampion for and an integral part of this nations rural economy for 35 years,strengthening,connecting,and powering rural America.Everyone at Farmer Mac shares a drive to innovate,to strive for excellence and integrity in all our work,and to develop strong,lasting relationships within the industries we