Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 3

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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Item 1.Financial Statements

 FEDERAL AGRICULTURAL MORTGAGE CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(unaudited)

As of March 31, 2025December 31, 2024 (in thousands)Assets:  Cash and cash equivalents (includes restricted cash of $16,346 and $16,190, respectively)$1,048,135 $1,024,007 Investment securities:  Available-for-sale, at fair value (amortized cost of $6,329,188 and $6,105,116, respectively)6,230,080 5,953,014 Held-to-maturity, at amortized cost9,125 9,270 Other investments13,281 11,017 Total Investment Securities6,252,486 5,973,301 Farmer Mac Guaranteed Securities:  Available-for-sale, at fair value (amortized cost of $5,859,630 and $5,835,658, respectively)5,623,384 5,514,546 Held-to-maturity, at amortized cost2,451,407 2,717,688 Total Farmer Mac Guaranteed Securities8,074,791 8,232,234 USDA Securities:  Trading, at fair value651 818 Held-to-maturity, at amortized cost2,376,690 2,370,534 Total USDA Securities2,377,341 2,371,352 Loans:  Loans held for sale, at lower of cost or fair value6,045 6,170 Loans held for investment, at amortized cost11,636,815 11,183,408 Loans held for investment in consolidated trusts, at amortized cost2,005,680 2,038,283 Allowance for losses(25,056)(23,223)Total loans, net of allowance13,623,484 13,204,638 Financial derivatives, at fair value27,867 27,789 Accrued interest receivable (includes $16,524 and $28,563, respectively, related to consolidated trusts)262,809 310,592 Guarantee and commitment fees receivable49,888 50,499 Deferred tax asset, net— 1,544 Prepaid expenses and other