Company: AGM-PH
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000845877-25-000204
Chunk: 139

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 139
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,870)(575)(181)1,142 REO operating expenses148 — — 196 — — — — — (Gain)/loss on REO(87)68 — — — — — — — Total credit related expense/(income)7,873 1,651 3,872 3,454 6,230 (1,870)(575)(181)1,142 Operating expenses:Compensation and employee benefits17,631 17,752 15,641 15,237 14,840 18,257 15,523 14,103 13,937 General and administrative10,859 10,758 12,452 8,625 8,904 8,255 8,916 9,100 9,420 Regulatory fees1,000 1,000 1,000 725 725 725 725 831 831 Total operating expenses29,490 29,510 29,093 24,587 24,469 27,237 25,164 24,034 24,188 Net earnings63,146 65,632 59,158 63,485 58,539 63,736 65,594 65,455 61,492 Income tax expense10,114 14,000 9,938 12,681 11,970 13,553 13,881 13,475 12,539 Preferred stock dividends5,667 5,666 5,666 5,897 6,792 6,791 6,791 6,792 6,791 Core earnings$47,365 $45,966 $43,554 $44,907 $39,777 $43,392 $44,922 $45,188 $42,162 Reconciling items:(Losses)/gains on undesignated financial derivatives due to fair value changes$(639)$(2,573)$3,084 $(1,064)$(359)$1,683 $(836)$2,921 $2,141 Gains/(losses) on hedging activities due to fair value changes2,709 1,099 5,737 205 2,604 3,002 (3,598)3,