Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 200

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 200
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3, Farmer Mac earned approximately $1.3 million and $1.4 million, respectively, in fees attributable to transactions with AgFirst, primarily commitment fees for LTSPCs.

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Name of Institution Ownership of Farmer Mac Voting Common Stock Affiliation with AnyFarmer Mac Directors Primary Aspects of Institution'sBusiness Relationship with Farmer MacAgriBank, FCB 201,621 shares of Class B voting common stock(40.30% of outstanding Class B stock and 13.17% of total voting common stock outstanding)  None Farmer Mac did not conduct any business with AgriBank during 2024 or 2023.Bath State BankLess than 5% ownershipFormer Farmer Mac director Dennis L. Brack (retired in May 2024) serves as a director of Bath State Bank and Bath State Bancorp, the holding company of Bath State Bank.Farmer Mac purchased $6.5 million and $1.3 million USDA Securities from Bath State Bank in 2024 and 2023, respectively. Farmer Mac also purchased $3.0 million and $0.3 million in Agricultural Finance mortgage loans from Bath State Bank in 2024 and 2023, respectively.CoBank, ACB   163,253 shares of Class B voting common stock(32.63% of outstanding Class B stock and 10.66% of total voting common stock outstanding)  Former Farmer Mac director Everett M. Dobrinski (retired in May 2024) served on CoBank's independent nominating committee until December 2023. Farmer Mac purchased $442.7 million and $438.8 million in loans from CoBank in 2024 and 2023, respectively. In 2024 and 2023, CoBank retained $4.0 million and $3.6 million of servicing fees related to the loan participations sold to Farmer Mac, respectively.Farm Credit of FloridaLess than 5% ownershipFarmer Mac director Robert Sexton serves as a director of Farm Credit of Florida.Farmer Mac purchased $1.7 million Agricultural Finance mortgage loans from Farm Credit of Florida in 2024.  Farmer Mac did not purchase any mortgage loans from Farm Credit of Florida in 2023.In 2024 and 2023, Farm Credit of Florida retained $16,000 and $11,