Nelnet Reports Fourth Quarter 2023 Results
The AGM operating segment reported net interest income of $35.6 million during the fourth quarter of 2023, compared with $58.5 million for the same period a year ago.
- The AGM operating segment reported net interest income of $35.6 million during the fourth quarter of 2023, compared with $58.5 million for the same period a year ago.
- The average balance of loans outstanding decreased from $14.8 billion for the fourth quarter of 2022 to $12.5 billion for the same period in 2023.
- AGM recognized a provision for loan losses in the fourth quarter of 2023 of $8.3 million ($6.3 million after tax), compared with $27.4 million ($20.8 million after tax) in the fourth quarter of 2022.
- The company acquired $196.4 million in loans in the fourth quarter of 2023, compared with $926.3 million for the same period in 2022.