Company: AGM-PH
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000845877-25-000252
Chunk: 184

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 184
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,796,406 2,038,283 8,834,689 Infrastructure Finance loans6,148,280 — 6,148,280 4,774,483 — 4,774,483 Total unpaid principal balance(1)13,515,898 2,205,213 15,721,111 11,570,889 2,038,283 13,609,172 Unamortized premiums, discounts, fair value hedge basis adjustment, and other cost basis adjustments(323,781)— (323,781)(381,311)— (381,311)Total loans13,192,117 2,205,213 15,397,330 11,189,578 2,038,283 13,227,861 Allowance for losses(34,517)(823)(35,340)(22,594)(629)(23,223)Total loans, net of allowance$13,157,600 $2,204,390 $15,361,990 $11,166,984 $2,037,654 $13,204,638 (1)Unpaid principal balance is the basis of presentation in disclosures of outstanding balances for Farmer Mac's lines of business. Allowance for LossesThe following table is a summary, by asset type, of the allowance for losses as of September 30, 2025 and December 31, 2024:Table 5.2September 30, 2025December 31, 2024Allowance for LossesAllowance for Losses(in thousands)Loans:Agricultural Finance loansFarm & Ranch$11,134 $5,132 Corporate AgFinance7,128 5,379 Total Agricultural Finance loans18,262 10,511 Infrastructure Finance loans17,078 12,712 Total$35,340 $23,223 

32

The following is a summary of the changes in the allowance for losses for the three and nine months ended September 30, 2025 and 2024:Table 5.3September 30, 2025September 30, 2024Agricultural Finance loansInfrastructureFinance loans(3)Agricultural Finance loansInfrastructureFinance loans(3)Farm & Ranch(1)Corporate AgFinance(2)TotalFarm & Ranch(1)Corporate AgFinance(2)Total(in thousands)For the Three Months