Company: AGM-PH
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000845877-25-000252
Chunk: 87

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 87
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 Energy$342,529 $219,536 $867,040 $607,487 Total Infrastructure Finance$593,348 $98,204 $1,980,822 $566,905 Total$531,903 $(290,036)$1,596,132 $(2,721)

(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.

73

Farmer Mac's outstanding business volume was $31.1 billion as of September 30, 2025, a net increase of $0.5 billion from June 30, 2025 which was primarily attributable to increases in the Infrastructure Finance portfolio after taking into account all new business, maturities, sales, and paydowns on existing assets. 

The increase in outstanding business volume during third quarter 2025 was attributable to a $0.6 billion increase in outstanding business volume in the Infrastructure Finance portfolio, consisting of a $0.1 billion increase in Power & Utilities, a $0.1 billion increase in Broadband Infrastructure, and a $0.3 billion increase in Renewable Energy. These increases in volume were primarily driven by $1.2 million in new purchases, partially offset by $0.6 million in scheduled maturities and repayments during the quarter. 

The increase in the Infrastructure Finance portfolio was partially offset by a $61.4 million decrease in volume in the Agricultural Finance portfolio during third quarter 2025, primarily driven by maturing AgVantage securities in both the Farm & Ranch and Corporate AgFinance portfolios. Total Farm & Ranch business volume remained relatively flat when comparing September 30, 2025 to June 30, 2025 as net growth in Farm & Ranch loans was substantially offset by maturities of AgVantage securities that counterparties did not re-issue. 

Farmer Mac's outstanding business volume was $28.5 billion as of September 30, 2024, a net increase of $0.3 billion from June 30, 2024 after taking into account all new business, maturities, sales, and paydowns on existing assets. 

The $0.4 billion net decrease in Farm & Ranch during third quarter 2024 resulted from $1.2 billion of scheduled maturities and repayments, partially offset by $