Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 78

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 78
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 in the Agricultural Finance LTSPC portfolio recorded during the year ended December 31, 2023 was primarily due to an updated estimate of expected losses based on additional available industry data. The release from the reserve for losses in the Infrastructure Finance LTSPC portfolio recorded during the year ended December 31, 2023 was primarily due to an updated estimate of expected losses based on additional available loss-given-default industry data. The release from the reserve for losses in the Infrastructure Finance LTSPC portfolio recorded during the year ended December 31, 2022 was primarily due to decreased volume and ratings upgrades. The release from the reserve for losses in the Agricultural Finance LTSPC portfolio was primarily due to ratings upgrades.The following table presents the unpaid principal balances by delinquency status of Agricultural Finance and Infrastructure Finance loans underlying LTSPCs and Farmer Mac Guaranteed Securities as of December 31, 2024 and 2023:

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Table 12.8As of December 31, 2024Current30-59 Days60-89 Days90 Days and Greater(1)Total Past DueTotal Loans(in thousands)Agricultural Finance:$3,524,406 $1,421 $1,358 $7,603 $10,382 $3,534,788 Infrastructure Finance:732,731 — — — — 732,731 Total$4,257,137 $1,421 $1,358 $7,603 $10,382 $4,267,519 (1)Includes loans underlying off-balance sheet Farmer Mac Guaranteed Securities and LTSPCs that are 90 days or more past due, in foreclosure, or in bankruptcy with at least one missed payment, excluding loans performing under either their original loan terms or a court-approved bankruptcy plan.As of December 31, 2023Current30-59 Days60-89 Days90 Days and Greater(1)Total Past DueTotal Loans(in thousands)Agricultural Finance:$3,390,918 $2,776 $2,366 $1,784 $6,926 $3,397,844 Infrastructure Finance:535,013 — — — — 535,013 Total$3,925,931 $2,776 $2,366 $1,784 $6,926 $3,932,857 (1)Includes loans underlying off-balance sheet Farmer Mac Guaranteed