Company: AGM-PH
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000845877-25-000252
Chunk: 3

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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 Income tax expense11,687 12,421 35,755 39,034 Net income55,003 49,828 159,491 150,679 Preferred stock dividends(6,303)(5,897)(17,636)(19,480)Loss on retirement of preferred stock— (1,619)— (1,619)Net income attributable to common stockholders$48,700 $42,312 $141,855 $129,580 Earnings per common share:Basic earnings per common share$4.45 $3.89 $12.99 $11.93 Diluted earnings per common share$4.44 $3.86 $12.93 $11.82 

The accompanying notes are an integral part of these consolidated financial statements.

4

FEDERAL AGRICULTURAL MORTGAGE CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(unaudited)

For the Three Months EndedFor the Nine Months Ended September 30, 2025September 30, 2024September 30, 2025September 30, 2024 (in thousands)Net income$55,003 $49,828 $159,491 $150,679 Other comprehensive income/(loss):Net unrealized gains on available-for-sale securities 18,874 26,350 25,789 61,015 Net changes in held-to-maturity securities(186)(443)(204)(757)Net unrealized losses on cash flow hedges(3,202)(17,569)(17,083)(12,675)Other comprehensive income before tax15,486 8,338 8,502 47,583 Income tax expense related to other comprehensive income(3,252)(1,751)(1,786)(9,992)Other comprehensive income net of tax12,234 6,587 6,716 37,591 Comprehensive income$67,237 $56,415 $166,207 $188,270 

The accompanying notes are an integral part of these consolidated financial statements.

5

FEDERAL AGRICULTURAL MORTGAGE CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF EQUITY

(unaudited)

AccumulatedAdditionalOtherPreferred StockCommon StockPaid-InComprehensiveRetained