Federal Agricultural Mortgage Corporation (AGM) 2014年年度报告「NYSE」.pdf

1、ANNUAL REPORT 2014INNOVATION.PASSION.EXCELLENCE.OPPORTUNITY.ABOUT US Delivering the capital and commitment rural America deserves.Farmer Mac is the stockholder-owned company created to deliver capital and increase lender competition for the benefit of American agriculture and rural communities.For m

2、ore than a quarter-century,Farmer Mac has been a vital partner helping Americas rural lenders meet the evolving needs of their customers,bringing the financial strength of the nations premier secondary market for agriculture right to their customers farms.Lenders of all sizes use Farmer Macs broad p

3、ortfolio of loan products to offer more financial choices to their rural customers,helping them keep pace with todays capital-intensive agricultural industry.$19.9BOF CUMULATIVE FARM&RANCH LOANS0.15%AND IN ITS ENTIRE HISTORY HAS EXPERIENCED CUMULATIVE LOSSES OF ONLYFARMER MAC HAS NEVER EXPERIENCED A

4、NY CREDIT LOSSES IN ITS RURAL UTILITIES,USDA GUARANTEES,OR INSTITUTIONAL CREDIT LINES OF BUSINESSON ITS“Farmer Macs high-quality assets,strong industry fundamentals,and significant operational efficiencies represent a unique opportunity for investors to experience the strength of agriculture and rur

5、al America.”R.DALE LYNCH EXECUTIVE VICE PRESIDENTCHIEF FINANCIAL OFFICER AND TREASURER FARMER MACOUTSTANDING BUSINESS VOLUME BY LINES OF BUSINESSOUTSTANDING FARM&RANCH BUSINESS VOLUME BY COMMODITY TYPE DECEMBER 31,2014FARM&RANCHINSTITUTIONAL CREDITUSDA GUARANTEESRURAL UTILITIES0$3.0B$6.0B$9.0B$12.0B

6、$15.0B2014201320122011$11.9$13.0$14.0$14.654%CROPS17%PERMANENT PLANTINGS24%LIVESTOCK3%PART-TIME FARM2%AG STORAGE&PROCESSINGANNUAL NET OUTSTANDING BUSINESS VOLUME GROWTH IN LAST THREE YEARSAVERAGEDININVESTMENT HIGHLIGHTS2014 Key MetricsBy successfully adding new customers and developing innovative pr