The once-struggling Farmer Mac program is slowly winning over agricultural bankers who are looking for liquidity as well as a way to make bigger loans.

The dollar total of loans bought by the Federal Agricultural Mortgage Corp. has risen nearly 64% in the last two years, and the formerly money- losing corporation turned a profit in 1997 for the second consecutive year. What's more, Farmer Mac's class C stock has soared to more than $60 a share, from a low of $4.25 in 1995.

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