Company: AGM-PH
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000845877-25-000252
Chunk: 227

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 227
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 to consolidated trusts with beneficial interests owned by third parties (single-class).

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(2)Excludes interest expense of $8.8 million and $8.6 million in third quarter 2025 and 2024, respectively, related to consolidated trusts with beneficial interests owned by third parties (single-class).

(3)Includes the effect of consolidated trusts with beneficial interests owned by third parties (single-class).

  For the Nine Months Ended September 30, 2025September 30, 2024AverageBalanceIncome/ExpenseAverageRateAverageBalanceIncome/ExpenseAverageRate (dollars in thousands)Interest-earning assets:     Cash and investments$7,578,282 $265,691 4.67 %$6,322,303 $258,341 5.45 %Loans, Farmer Mac Guaranteed Securities and USDA Securities(1)24,049,996 900,316 4.99 %23,001,393 920,887 5.34 %Total interest-earning assets31,628,278 1,166,007 4.92 %29,323,696 1,179,228 5.36 %Funding:    Total interest-bearing liabilities(2)29,508,440 882,894 3.99 %27,379,812 922,217 4.49 %Net non-interest-bearing funding2,119,838 — 1,943,884 — Total funding31,628,278 882,894 3.72 %29,323,696 922,217 4.19 %Net interest income/yield prior to consolidation of certain trusts31,628,278 283,113 1.19 %29,323,696 257,011 1.17 %Net effect of consolidated trusts(3)862,877 3,100 0.48 %881,774 3,488 0.53 %Net interest income/yield$32,491,155 $286,213 1.17 %$30,205,470 $260,499 1.15 %

(1)Excludes interest income of $29.8 million and $28.5 million in the first nine months of 2025 and 2024, respectively, related to consolidated trusts with beneficial interests owned by third parties (single-class).

(