Company: AGM-PH
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000845877-25-000252
Chunk: 7

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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,490 Other stock-based award activity— — — — (486)— — (486)Balance as of September 30, 202416,980 $411,149 10,885 $10,885 $135,225 $(2,554)$907,639 $1,462,344 

The accompanying notes are an integral part of these consolidated financial statements.

7

FEDERAL AGRICULTURAL MORTGAGE CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

For the Nine Months Ended September 30, 2025September 30, 2024 (in thousands)Cash flows from operating activities: Net income$159,491 $150,679 Adjustments to reconcile net income to net cash provided by operating activities:Net amortization of deferred gains, premiums, and discounts on loans, investments, Farmer Mac Guaranteed Securities, and USDA Securities(16,580)(19,100)Net amortization of debt premiums, discounts, and issuance costs7,777 29,661 Net change in fair value of trading securities, loans held for sale, hedged items, and financial derivatives(192,971)(62,797)(Gains)/losses on sale of mortgage loans(9)1,147 Gains on the sale of available-for-sale investment securities— (1,052)Losses on sale of real estate owned69 — Total provision for/(release of) allowance for losses16,828 7,618 Excess tax benefits related to stock-based awards(624)447 Deferred income taxes(3,466)(768)Stock-based compensation expense6,634 6,528 Purchases of loans held for sale(7,770)— Proceeds from sale of loans held for sale7,779 — Proceeds from repayment of loans purchased as held for sale38,991 28,302 Net change in:Interest receivable16,271 27,320 Guarantee and commitment fees receivable(176)131 Other assets25,193 50,121 Accrued interest payable43,469 32,803 Custodial deposit liability(138,856)(18,085)Other liabilities14,602 12,160 Net cash (used in)/provided by operating activities(23,348)245,115 Cash flows from