Company: AGM-PH
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000845877-25-000252
Chunk: 258

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 258
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%31,240 0.9 %Increase/(decrease) from prior quarter-ending $45,970 0.4 %$22,175 0.6 %Increase/(decrease) from prior year-ending94,143 0.6 %28,720 0.8 %

The increase of $46.0 million in on-balance sheet Agricultural Finance substandard assets during third quarter 2025 was primarily driven by credit downgrades in crops and permanent plantings. 

On-balance sheet substandard assets within Infrastructure Finance were $72.2 million as of September 30, 2025, unchanged from the balance reported as of June 30, 2025.

For an analysis of current loan-to-value ratios across substandard and other internally assigned risk ratings, see Table 23 in "Management's Discussion and Analysis of Financial Condition and Results of Operations—Risk Management—Credit Risk—Loans and Guarantees."

59

The following table presents 90-day delinquencies for the on- and off-balance sheet Agricultural Finance portfolios in dollars and as a percentage of the respective balance sheet category as of September 30, 2025, June 30, 2025, and December 31, 2024:  

Table 5On-Balance SheetOff-Balance Sheet90-DayDelinquencies% of Portfolio90-DayDelinquencies% of Portfolio(dollars in thousands)September 30, 2025$164,753 1.7 %$13,006 0.4 %June 30, 2025123,393 1.3 %2,475 0.1 %December 31, 2024101,340 1.1 %7,604 0.2 %Increase/(decrease) from prior quarter-ending$41,360 0.4 %$10,531 0.3 %Increase/(decrease) from prior year-ending63,413 0.6 %5,402 0.2 %

The increase of $41.4 million and $10.5 million in on- and off-balance sheet Agricultural Finance assets, respectively, that are 90 or more days delinquent is primarily attributable to crops and permanent plantings. The top ten borrower exposures over 90 days delinquent in either the on- or off-balance sheet Agricultural Finance portfolio represented approximately half of the aggregate 90-day delinquencies