Company: AGM-PH
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000845877-25-000252
Chunk: 206

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 206
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 three and nine months ended September 30, 2025 and 2024. Table 10.1Core Earnings by Business SegmentFor the Three Months Ended September 30, 2025Agricultural FinanceInfrastructure FinanceTreasuryFarm & RanchCorporate AgFinancePower & UtilitiesBroadband InfrastructureRenewable EnergyFundingInvestmentsTotal (in thousands)Interest income$154,020 $26,662 $69,746 $13,375 $28,616 $36,139 $86,783 $415,341 Interest expense(1)(118,081)(17,615)(63,810)(8,996)(20,886)(1,686)(85,790)(316,864)Less: reconciling adjustments(2)(3)(1,099)— (26)— — 324 93 (708)Net effective spread34,840 9,047 5,910 4,379 7,730 34,777 1,086 97,769 Guarantee and commitment fees(3)4,572 218 212 701 429 — — 6,132 Other income/(expense)1,080 111 (7)— — — (1)1,183 (Provision for)/release of losses(4,050)(2,787)424 (410)(616)— 6 (7,433)Operating expenses(1)(6,721)(3,131)(1,122)(1,362)(1,649)(2,712)(760)(17,457)Income tax (expense)/benefit(6,240)(727)(1,137)(695)(1,238)(6,734)(70)(16,841)Segment core earnings$23,481 $2,731 $4,280 $2,613 $4,656 $25,331 $261 $63,353 Reconciliation to net income:Net effects of derivatives and trading securities$(1,193)Unallocated (expenses)/income(12,311)Income tax effect related to reconciling items5,154  Net income$55,003 Total Assets:Total on- and off-balance sheet segment assets at principal balance$18,218,755 $1,891,228 $7,426,517 $1,299,097 $2,283,565