Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 267

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 267
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 %Loans, net of allowance11,618,504 11,166,984 451,520 4 %Loans held in trusts2,004,980 2,037,654 (32,674)(2)%Other427,702 519,210 (91,508)(18)%Total assets$31,803,939 $31,324,742 $479,197 2 %LiabilitiesNotes Payable$27,975,196 $27,371,174 $604,022 2 %Debt securities of consolidated trusts held by third parties1,894,920 1,929,628 (34,708)(2)%Other408,177 534,914 (126,737)(24)%Total liabilities$30,278,293 $29,835,716 $442,577 1 %Total equity1,525,646 1,489,026 36,620 2 %Total liabilities and equity$31,803,939 $31,324,742 $479,197 2 %

Assets. The increase in total assets was primarily attributable to new loan volume and a larger investment portfolio.

Liabilities. The increase in total liabilities was primarily due to an increase in total notes payable to fund the acquisition of loan volume. 

Equity. The increase in total equity was primarily due to an increase in retained earnings.

Risk Management

Credit Risk – Loans and Guarantees.  

Agricultural Finance - Direct Credit Exposure

Farmer Mac's direct credit exposure to Agricultural Finance mortgage loans as of March 31, 2025 was $12.4 billion across 48 states. Farmer Mac applies credit underwriting standards and methodologies to help assess exposures to loan purchases, which may include collateral valuation, financial metrics, and other appropriate borrower financial and credit information. For Corporate AgFinance loans, which are often larger loan exposures to agriculture production and agribusinesses that support agriculture production, food and fiber processing, and other supply chain production, and which may have risk profiles that differ from smaller agricultural mortgage loans, Farmer Mac has implemented methodologies and parameters that help assess credit risk based on the appropriate sector, borrower construct, and transaction complexity. For more information about Farmer Mac's underwriting and collateral valuation standards for Agricultural Finance mortgage loans, see "Business—Farmer Mac's Lines of Business—

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Agricultural Finance—Underwriting and Collateral Standards—Farm & Ranch