Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 252

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 252
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 provided the opportunity to purchase that pool of loans. Scheduled

loan maturities and repayments in the aggregate amount of $0.2 billion partially offset those purchases.

Farmer Mac also purchased a total of $0.3 billion in Farm & Ranch AgVantage Securities during first

quarter 2024, which primarily reflected the refinancing of maturing securities and opportunistic new

purchases. The $0.3 billion in gross purchases was partially offset by $0.1 billion in scheduled maturities.

The $0.1 billion net increase in Corporate AgFinance during first quarter 2024 resulted from $0.3 billion

of new purchases and unfunded loan commitments, which was partially offset by $0.2 billion of scheduled

maturities, repayments, and paydowns on revolving commitments. Included in the $0.3 billion is $0.1

billion of purchases of Corporate AgFinance AgVantage Securities, which was partially offset by $0.1

billion of scheduled maturities.

The $0.3 billion net increase in Renewable Energy during first quarter 2024 primarily reflects

$0.3 billion in loan purchases and unfunded commitments, partially offset by $0.1 billion in

repayments. The net increase in Renewable Energy loan purchases and unfunded commitments primarily

reflects the continued strong demand for renewable power generation and storage.

66

The level and composition of Farmer Mac’s outstanding business volume is based on the relationship between new business, loan sales, scheduled maturities, and repayments on existing assets from year to year. This relationship in turn depends on a variety of factors both internal and external to Farmer Mac. The external factors include general market forces, competition, and our counterparties’ liquidity needs, access to alternative funding, desired products, and assessment of strategic factors. The internal factors include our assessment of profitability, mission fulfillment, credit risk, and customer relationships. For more information about potential growth opportunities in Farmer Mac's lines of business, see "Management's Discussion and Analysis of Financial Condition and Results of Operations—Outlook" in this report.

The following table sets forth information about the Farmer Mac Guaranteed Securities issued during the periods indicated:

Table 17 For the Three Months Ended March 31, 2025March 31, 2024 (dollars in thousands)AgVantage securities$304,875 $411,550 Loans securitized and held in consolidated trusts with beneficial interests owned by