Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 33

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 balance. The $0.2 million net provision to theallowance for the Agricultural Finance mortgage loan portfolio during the quarter ended March 31, 2024was primarily attributable to increased loan volume. Although substandard Agricultural Finance loansincreased $73.0 million from December 31, 2023, there was not a significant provision for loss associatedwith that increase because of the net realizable value of those loans. 

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The following table presents the unpaid principal balances by delinquency status of Farmer Mac's loans and non-performing assets as of March 31, 2025 and December 31, 2024:Table 5.4As of March 31, 2025AccruingCurrent30-59 Days60-89 Days90 Days and Greater(2)Total Past DueNonaccrual loans(3)(4)Total Loans(in thousands)Loans(1):Agricultural Finance loansFarm & Ranch$7,320,821 $17,004 $7,031 $10,096 $34,131 $151,795 $7,506,747 Corporate AgFinance1,320,794 5,494 — — 5,494 44,914 1,371,202 Total Agricultural Finance loans8,641,615 22,498 7,031 10,096 39,625 196,709 8,877,949 Infrastructure Finance loans5,108,990 — — — — — 5,108,990 Total $13,750,605 $22,498 $7,031 $10,096 $39,625 $196,709 $13,986,939 (1)Amounts represent unpaid principal balance of risk-rated loans, which is the basis Farmer Mac uses to analyze its portfolio, and recorded investment of past due loans.(2)Includes loans in consolidated trusts with beneficial interests owned by third parties (single-class) that are 90 days or more past due.(3)Includes loans 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.(4)Includes $36.4 million of nonaccrual loans for which there was no associated allowance. During the three months ended March 31, 2025, Farmer Mac received $1.