Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 40

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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Maximum principal amount4,146,719 4,029,019 Weighted-average remaining maturity14.6 years14.5 years(1) Relates to LTSPCs issued or modified on or after January 1, 2003.Reserve for Losses -  LTSPCs and Farmer Mac Guaranteed Securities The following table is a summary, by asset type, of the reserve for losses as of March 31, 2025 and December 31, 2024:Table 6.5March 31, 2025December 31, 2024Reserve for LossesReserve for Losses(in thousands)Agricultural Finance$1,335 $1,431 Infrastructure Finance186 192 Total$1,521 $1,623 

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The following is a summary of the net changes in the reserve for losses for the three month period ended March 31, 2025 and 2024:Table 6.6For the Three Months EndedMarch 31, 2025March 31, 2024Reserve for LossesReserve for Losses(in thousands)Agricultural FinanceBeginning Balance $1,431 $1,471 (Release of)/provision for losses(96)(64)Ending Balance$1,335 $1,407 Infrastructure FinanceBeginning Balance$192 $240 (Release of)/provision for losses(6)(5)Ending Balance$186 $235 The release from the reserve for losses during first quarter 2025 for both Agricultural Finance and Infrastructure Finance was primarily due to ratings upgrades.The following table presents the unpaid principal balances by delinquency status of Agricultural Finance and Infrastructure Finance loans underlying LTSPCs and Farmer Mac Guaranteed Securities as of March 31, 2025 and December 31, 2024:Table 6.7As of March 31, 2025Current30-59 Days60-89 Days90 Days and Greater(1)Total Past DueTotal Loans(in thousands)Agricultural Finance:$3,493,817 $9,785 $3,386 $4,540 $17,711 $3,511,528 Infrastructure Finance:865,926 — — — — 865,926 Total$4,359,743 $9,785 $3,386 $4,540 $17,711 $4,377,454 (1)