Company: AGM-PH
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000845877-25-000204
Chunk: 89

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 89
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 to the purchase of $35.6 million in renewable energy investment tax credits during the second quarter 2025. The purchases of renewable energy investment tax credits have been at prices of approximately $0.91 per $1.00 of credit and resulted in a benefit in the amount of $3.2 million.

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Business Volume. The following table sets forth the net growth or decrease in our lines of business for the three and six months ended June 30, 2025 and 2024: 

Table 16Net New Business Volume For the Three Months EndedFor the Six Months Ended On or Off Balance SheetJune 30, 2025June 30, 2024June 30, 2025June 30, 2024Net Growth/(Decrease)Net Growth/(Decrease)Net Growth/(Decrease)Net Growth/(Decrease) (in thousands)Agricultural Finance:Farm & Ranch:LoansOn-balance sheet$129,535 $(108,724)$215,870 $5,369 Loans held in consolidated trusts:Beneficial interests owned by third-party investors (single-class)(1)On-balance sheet(6,812)51,444 (7,873)37,688 Beneficial interests owned by third-party investors (structured)(1)On-balance sheet276,386 300,514 244,844 291,406 IO-FMGS(2)On-balance sheet(168)(170)(341)(347)USDA SecuritiesOn-balance sheet49,790 4,556 56,224 (9,422)AgVantage Securities(1)On-balance sheet(230,000)(560,000)(735,000)(400,000)LTSPCs and unfunded loan commitmentsOff-balance sheet(10,829)(77,051)(51,023)(192,619)Other Farmer Mac Guaranteed Securities(3)Off-balance sheet(15,123)(7,021)(27,142)(15,780)Loans serviced for othersOff-balance sheet(69,389)47 (84,622)(20,595)Total Farm & Ranch$123,390 $(396,405)$(389,063)$(304,300)Corporate AgFinance:LoansOn-balance sheet$79,394 $27,661 $68,922 $26,444 AgVantage Securities(1)On-b