Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 136

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 136
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 and December 31, 2024, all of the investment securities in an unrealized loss position either were backed by the full faith and credit of the U.S. government, a U.S. government sponsored enterprise, or had credit ratings of at least "AA+."Securities in unrealized loss positions for 12 months or longer have a fair value as of March 31, 2025 that is, on average, approximately 94.8% of their amortized cost basis. Farmer Mac believes that all of these unrealized losses are recoverable within a reasonable period of time by way of maturity, changes in credit spread, or changes in levels of interest rates. The amortized cost, fair value, and weighted-average yield of available-for-sale investment securities by remaining contractual maturity as of March 31, 2025 are set forth below. Asset-backed and mortgage-backed securities are included based on their final maturities, although the actual maturities may differ due to prepayments of the underlying assets.Table 2.3 As of March 31, 2025Available-for-Sale SecuritiesAmortizedCostFair ValueWeighted-AverageYield (dollars in thousands)Due within one year$598,357 $599,403 3.75%Due after one year through five years2,331,405 2,326,662 4.10%Due after five years through ten years2,491,567 2,407,741 3.82%Due after ten years907,859 896,274 4.71%Total$6,329,188 $6,230,080 4.04%

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3.FARMER MAC GUARANTEED SECURITIES AND USDA SECURITIES

The following tables set forth information about on-balance sheet Farmer Mac Guaranteed Securities and USDA Securities as of March 31, 2025 and December 31, 2024:Table 3.1  As of March 31, 2025Unpaid Principal BalanceUnamortized Premium/(Discount)AmortizedCost(1)Allowance for losses(2)UnrealizedGainsUnrealizedLossesFair Value (in thousands)Held-to-maturity:AgVantage$2,428,184 $(26,322)$2,401,862 $(162)$9,967 $(14,490)$2,397,177 Farmer Mac Guaranteed