Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 11

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 11
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75,000)— — Dividends paid on common and preferred stock(86,052)(74,817)(68,171)Net cash provided by financing activities1,205,127 1,607,288 2,185,905 Net change in cash and cash equivalents135,300 27,705 (47,783)Cash, cash equivalents, and restricted cash at beginning of period888,707 861,002 908,785 Cash, cash equivalents, and restricted cash at end of period$1,024,007 $888,707 $861,002 

Cash paid during the period for:Interest819,959 582,960 269,327 Income taxes39,200 48,000 33,800 Non-cash activity:Loans securitized as Farmer Mac Guaranteed Securities109,546 36,497 162,875 Loans held for investment transferred to consolidated trusts624,097 281,027 297,713 

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

121

FEDERAL AGRICULTURAL MORTGAGE CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1.ORGANIZATION

The Federal Agricultural Mortgage Corporation ("Farmer Mac") is a stockholder-owned, federally chartered instrumentality of the United States established under Title VIII of the Farm Credit Act of 1971, as amended (12 U.S.C. §§ 2279aa et seq.), which is sometimes referred to as Farmer Mac's charter. Farmer Mac was originally created by the United States Congress to provide a secondary market for a variety of loans made to borrowers in rural America. This secondary market is designed to increase the accessibility of finance at stable interest rates to America's rural communities and to provide rural borrowers with the benefits of capital markets pricing and product innovation.  Farmer Mac's secondary market activities include:•purchasing eligible loans directly from lenders (including participation interests, syndicated notes, revolving and non-revolving credit facilities, and unfunded commitments to make advances on loans);•guaranteeing and purchasing securities issued by lenders and other financial institutions that are secured by pools of eligible loans (Farmer Mac refers to these securities as "AgVantage," a registered trademark of Farmer Mac);•issuing and guaranteeing securities that represent interests in, or obligations secured by, pools of eligible loans (together