Company: AGM-PH
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000845877-25-000252
Chunk: 91

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 91
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 SecuritiesTotal(in thousands)2025$228,878 $124,102 $30,814 $383,794 20261,033,680 550,724 118,918 1,703,322 2027919,045 488,044 118,848 1,525,937 20281,134,001 407,205 118,980 1,660,186 20291,138,756 413,818 119,612 1,672,186 Thereafter11,266,751 2,692,769 2,115,395 16,074,915 Total$15,721,111 $4,676,662 $2,622,567 $23,020,340 

Of the $31.1 billion outstanding business volume as of September 30, 2025, $7.7 billion were AgVantage securities included in the Agricultural Finance and Infrastructure Finance lines of business. Unlike business volume in the form of purchased loans, USDA Securities, and loans underlying LTSPCs and non-AgVantage securities, most AgVantage securities do not require periodic payments of principal based on amortization schedules and instead have fixed maturity dates when the secured general obligation is due. Changes in quarterly AgVantage securities volume are primarily driven by the generally larger transaction sizes for that product, scheduled maturity amounts for a particular quarter, the liquidity needs of Farmer Mac’s AgVantage counterparties, and changes in the pricing and availability of wholesale funding. Based on these factors, we expect business volumes in AgVantage securities to continue to fluctuate. The following table summarizes by maturity date the outstanding principal amount of AgVantage securities as of September 30, 2025:

Table 19AgVantage Balances by Year of Maturity As of September 30, 2025 (in thousands)2025$507,031 20261,323,415 20271,184,443 2028893,309 20291,037,934 Thereafter(1)2,735,514 Total$7,681,646 

(1)Includes various maturities ranging from 2030 to 2044.

The weighted-average remaining maturity of the outstanding AgVantage securities shown in the table above was 4.8 years as of September 30, 2025.  

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