Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 81

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 81
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Special mention(1)— — — — — — — — Substandard(2)— — — — — — — — Total$— $— $— $— $— $419,190 $115,823 $535,013 For the Year Ended December 31, 2023:Current period charge-offs$— $— $— $— $— $— $— $— (1)Assets in the "Special mention" category generally have potential weaknesses due to performance issues but are currently considered to be adequately secured.  (2)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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13.FAIR VALUE DISCLOSURES

Fair Value Classification and TransfersThe following tables present information about Farmer Mac's assets and liabilities measured at fair value on a recurring basis as of December 31, 2024 and 2023, respectively, and indicate the fair value hierarchy of the valuation techniques used by Farmer Mac to determine such fair value:Table 13.1Assets and Liabilities Measured at Fair Value as of December 31, 2024 Level 1Level 2Level 3(1)Total (in thousands)Recurring: Assets:    Investment Securities:    Available-for-sale:    Floating rate auction-rate certificates backed by Government guaranteed student loans$— $— $19,476 $19,476 Floating rate Government/GSE guaranteed mortgage-backed securities— 2,305,725 — 2,305,725 Fixed rate GSE guaranteed mortgage-backed securities— 2,337,967 — 2,337,967 Floating rate U.S. Treasuries— — — — Fixed rate U.S. Treasuries1,289,846 — — 1,289,846 Total Available-for-sale Investment Securities1,289,846 4,643,692 19,476 5,953,014 Farmer Mac Guaranteed Securities:    Available-for-sale:    AgVantage— — 5,505,531 5,505,531 Farmer Mac Guaranteed Securities— — 9,015 9,015 Total Farmer Mac Guaranteed Securities— — 5,514