Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 192

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 192
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169)Total Power & Utilities$(170,204)$936,574 Broadband Infrastructure:LoansOn-balance sheet$144,089 $168,614 Unfunded loan commitmentsOff-balance sheet157,224 15,922 Total Broadband Infrastructure$301,313 $184,536 Renewable Energy:LoansOn-balance sheet$825,414 $220,716 Unfunded loan commitmentsOff-balance sheet103,590 36,635 Total Renewable Energy$929,004 $257,351 Total Infrastructure Finance$1,060,113 $1,378,461 Total$1,052,006 $2,548,942 

(1)Categories of Farmer Mac Guaranteed Securities.

(2)An interest-only Farmer Mac Guaranteed Security retained as part of a structured securitization.

(3)Other categories of Farmer Mac Guaranteed Securities that were sold by Farmer Mac to third parties.

71

Farmer Mac's outstanding business volume was $29.5 billion as of December 31, 2024, a net increase of $1.1 billion from December 31, 2023 after taking into account all new business, maturities, sales, and paydowns on existing assets. 

The $0.2 billion net decrease in Farm & Ranch during 2024 resulted from $3.4 billion of scheduled maturities and repayments, partially offset by $3.2 billion of new purchases, commitments, and guarantees. Included in the $3.2 billion is the purchase of $1.5 billion of Farm & Ranch loans. Scheduled loan maturities and repayments in the aggregate amount of $0.6 billion partially offset those purchases. Those purchases include $179.2 million related to Farmer Mac's purchase of two pools of loans from a single agricultural lender. During 2024, Farmer Mac also securitized $0.7 billion loans in on-balance sheet securitizations, which transferred them from loans held for investment to loans held in securitized trusts.

During 2024, a total of $2.0 billion in Farm & Ranch AgVantage Securities matured or were repaid while Farmer Mac purchased $0.9 billion. This activity primarily reflected slower loan growth resulting in less liquidity needs from Farmer Mac's AgVantage counterparties than in previous years. 

The $0.2 billion net increase in Corporate AgFinance during 2024 primarily