Federal Agricultural Mortgage Corporation (NYSE:AGM) Q3 2022 Earnings Conference Call November 7, 2022 4:30 PM ET

Company Participants

Jalpa Nazareth - Director, IR and Finance Strategy

Brad Nordholm - President and CEO

Aparna Ramesh - CFO

Zach Carpenter - EVP and Chief Business Officer

Conference Call Participants

Marla Backer - Sidoti

Operator

Good day, and welcome to the Farmer Mac Third Quarter 2022 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Jalpa Nazareth, Director of Investor Relations and Finance Strategy. Please go ahead.

Jalpa Nazareth

Good afternoon. And thank you for joining us for our third quarter 2022 earnings conference call. I'm Jalpa Nazareth, Director of Investor Relations and Finance Strategy here at Farmer Mac.

As we begin, please note that the information provided during this call may contain forward-looking statements about the company's business strategies and prospects which are based on management's current expectations and assumptions. These statements are not a guarantee of future performance and are subject to risks and uncertainties that could cause our actual results to differ materially from those projected. Please refer to Farmer Mac's 2021 Annual Report and subsequent SEC filings for a full discussion of the company's risk factors.

On today's call, we will also be discussing certain non-GAAP financial measures. Disclosures and reconciliations of these non-GAAP measures can be found in the most recent Form 10-Q and earnings release posted on Farmer Mac's website farmermac.com under the financial information portion of the investor section.

Joining us from management this afternoon, our President and Chief Executive Officer Brad Nordholm, who will discuss third quarter business and financial highlights and strategic objectives, and Chief Financial Officer, Aparna Ramesh who will provide greater detail on our financial performance. Select members of our management team will also be joining us for the question-and-answer period.

At this time, I'll turn the call over to President and CEO Brad Nordholm. Brad.

Brad Nordholm

Thanks, Jalpa. Good afternoon, everyone. And thank you for joining us, I'm very pleased to announce that we've achieved another record quarter with all time high net effective spread and earnings and continued strong credit quality. Our results not only highlight the strength of our core business, our disciplined approach to interest rate risk management and the resilience of the U.S. agricultural economy, but also the benefits from the investments in and the strategic management of our business, really in support of our long term success. The diversity of our revenue streams combined with our credit and asset liability management disciplines have enabled us to deliver a very, very strong quarter.