Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 210

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 210
---
 agricultural policy will revert to 1930s-era policy, which provides no price support for many key commodities.

•Farmer Mac continues to work with stakeholders and Congress on changes to its charter in the farm bill reauthorization to better support lenders serving rural areas. Any changes would require Congressional approval and the President's signature.

•Farmer Mac will continue to monitor Congress’s consideration of tax policy in 2025. Several provisions of the Tax Cuts and Jobs Act of 2017 are scheduled to expire in 2025. Congress is likely to address the expiration of these policies and possibly address other tax policies that may directly affect Farmer Mac, such as the corporate tax rate and potential exemptions for income generated from loans secured by agricultural real estate. 

77

Balance Sheet Review

The following table summarizes Farmer Mac's balance sheet as of the periods indicated:

Table 22As ofChangeMarch 31, 2025December 31, 2024$%(in thousands)AssetsCash and cash equivalents$1,048,135 $1,024,007 $24,128 2 %Investment securities6,252,486 5,973,301 279,185 5 %Farmer Mac Guaranteed Securities8,074,791 8,232,234 (157,443)(2)%USDA Securities2,377,341 2,371,352 5,989 — %Loans, net of allowance11,618,504 11,166,984 451,520 4 %Loans held in trusts2,004,980 2,037,654 (32,674)(2)%Other427,702 519,210 (91,508)(18)%Total assets$31,803,939 $31,324,742 $479,197 2 %LiabilitiesNotes Payable$27,975,196 $27,371,174 $604,022 2 %Debt securities of consolidated trusts held by third parties1,894,920 1,929,628 (34,708)(2)%Other408,177 534,914 (126,737)(24)%Total liabilities$30,278,293 $29,835,716 $442,577 1 %Total equity1,525,646 1,489,026 36,620 2 %Total liabilities and equity$31,803,939 $31,324