Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 61

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 61
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 million of nonaccrual loans for which there was no associated allowance. During the year ended December 31, 2023, Farmer Mac received  $2.6 million in interest on nonaccrual loans.Credit Quality IndicatorsThe following tables present credit quality indicators related to Agricultural Finance mortgage loans and Infrastructure Finance loans held as of December 31, 2024 and 2023, by year of origination:Table 8.5As of December 31, 2024Year of Origination:20242023202220212020PriorRevolving Loans - Amortized Cost BasisTotal(in thousands)Agricultural Finance - Farm & Ranch loans(1):Internally Assigned Risk Rating:Acceptable$987,444 $525,559 $1,079,933 $1,577,305 $1,019,779 $1,287,334 $404,950 $6,882,304 Special mention(2)139,297 34,290 32,886 24,204 7,533 23,099 22,087 283,396 Substandard(3)8,077 28,790 52,350 24,733 60,418 92,594 20,353 287,315 Total$1,134,818 $588,639 $1,165,169 $1,626,242 $1,087,730 $1,403,027 $447,390 $7,453,015 For the Year Ended December 31, 2024:Current period charge-offs$— $— $— $101 $— $— $— $101 (1)Amounts represent unpaid principal balance of risk-rated loans, which is the basis Farmer Mac uses to analyze its portfolio, and recorded investment of past due loans.(2)Assets in the "Special mention" category generally have potential weaknesses due to performance issues but are currently considered to be adequately secured.  (3)Substandard assets have a well-defined weakness or weaknesses and there is a distinct possibility that some loss will be sustained if deficiencies are not corrected.

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As of December 31, 2024Year of Origination:20242023202220212020PriorRevolving Loans - Amortized Cost BasisTotal(in thousands)Agricultural Finance - Corporate AgFinance(1):Internally Assigned Risk