Company: AGM-PH
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000845877-25-000204
Chunk: 54

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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$77,326 $— $77,326 (1) Level 3 assets represent 18% of total assets and 48% of financial instruments measured at fair value.There were no material assets or liabilities measured at fair value on a non-recurring basis as of June 30, 2025 or December 31, 2024.  Transfers in and/or out of the different levels within the fair value hierarchy are based on the fair values of the assets and liabilities as of the beginning of the reporting period. During the three and six months ended June 30, 2025 and 2024, there were no transfers within the fair value hierarchy.

45

The following tables present additional information about assets and liabilities measured at fair value on a recurring basis for which Farmer Mac has used significant unobservable inputs to determine fair value.  Net transfers in and/or out of Level 3 are based on the fair values of the assets and liabilities as of the beginning of the reporting period. There were no liabilities measured at fair value using significant unobservable inputs during the three and six months ended June 30, 2025 and 2024.Table 9.2Level 3 Assets and Liabilities Measured at Fair Value for the Three Months Ended June 30, 2025Beginning BalancePurchasesSettlementsAllowance for LossesRealized andunrealized gains/(losses) included in IncomeUnrealized gains/(losses)included in OtherComprehensiveIncomeEnding Balance(in thousands)Recurring:Assets:Investment Securities:Available-for-sale:Floating rate auction-rate certificates backed by Government guaranteed student loans$19,353 $— $— $(1)$— $123 $19,475 Total available-for-sale19,353 — — (1)— 123 19,475 Farmer Mac Guaranteed Securities:Available-for-sale:AgVantage5,614,512 100,000 (16,994)(5)37,812 (12,435)5,722,890 Farmer Mac Guaranteed Securities8,872 — (166)— — (93)8,613 Total available-for-sale5,623,384 100,000 (17,160)(5)37,812 (12,528)5,731,503 USDA Securities:Trading651 — (96)— 5 — 560 Total USDA Securities651 —