Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 78

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 78
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aturities.

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.

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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 third parties (structured and single-class)26,023 15,936 Total Farmer Mac Guaranteed Securities Issuances$330,898 $427,486 

During the three months ended March 31, 2025 and 2024, Farmer Mac realized no gains or losses from the securitization of loans that it holds in consolidated trusts. Farmer Mac consolidates these loans and presents them as "Loans held for investment in consolidated trusts, at amortized cost" on the consolidated balance sheets. 

During the three months ended March 31, 2025 and 2024, Farmer Mac realized no gains or losses from the issuance of Farmer Mac Guaranteed USDA Securities or AgVantage Securities.

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The following table sets forth information about outstanding volume in each of Farmer Mac's lines of business as of the dates indicated:

Table 18Outstanding Business VolumeOn or Off Balance SheetAs of March 31, 2025As of December 31, 2024(in thousands)Agricultural Finance