Company: AGM-PH
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000845877-25-000204
Chunk: 73

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 73
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 quarter. One of the downgraded loans was a Renewable Energy solar project and the other was a Broadband Infrastructure loan.  

For an analysis of current loan-to-value ratios across substandard and other internally assigned risk ratings, see Table 25 in "Management's Discussion and Analysis of Financial Condition and Results of Operations—Risk Management—Credit Risk—Loans and Guarantees."

61

The following table presents 90-day delinquencies for the on- and off-balance sheet Agricultural Finance portfolios in dollars and as a percentage of the respective balance sheet category as of June 30, 2025, March 31, 2025, and December 31, 2024:  

Table 5On-Balance SheetOff-Balance Sheet90-DayDelinquencies% of Portfolio90-DayDelinquencies% of Portfolio(dollars in thousands)June 30, 2025$123,393 1.3 %$2,475 0.1 %March 31, 2025155,438 1.8 %4,539 0.1 %December 31, 2024101,340 1.1 %7,604 0.2 %Increase/(decrease) from prior quarter-ending$(32,045)(0.5)%$(2,064)— %Increase/(decrease) from prior year-ending22,053 0.2 %(5,129)(0.1)%

The decrease of $32.0 million and $2.1 million in on- and off-balance sheet Agricultural Finance assets, respectively, that are 90 or more days delinquent is primarily attributable to crops and permanent plantings. The top ten borrower exposures over 90 days delinquent in either the on- or off-balance sheet Agricultural Finance portfolio represented over half of the aggregate 90-day delinquencies as of June 30, 2025.

As of both June 30, 2025 and December 31, 2024, there were no 90-day delinquencies in Farmer Mac's portfolio of Infrastructure Finance loan purchases and loans underlying Long-Term Standby Purchase Commitments (“LTSPCs”). 

For more information about Farmer Mac's credit metrics, including 90-day delinquencies, the total allowance for losses, and substandard assets, see "Management's Discussion and Analysis of Financial Condition and Results of Operations—Risk Management—Credit Risk—Loans and Guarantees."

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