Company: AGM-PH
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000845877-25-000204
Chunk: 312

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 312
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5 and prior$2,887 $9,784 $3,836 $1,090 $15,673 $33,270 2016971 — — — — 971 2017— — — — 4,311 4,311 2018— — — — — — 20191,165 — — — — 1,165 2020(65)1,675 (22)— — 1,588 2021— 446 — — — 446 2022— — — — 455 455 2023— 3,819 — — — 3,819 2024— — — — — — 2025— — — — — — Total$4,958 $15,724 $3,814 $1,090 $20,439 $46,025 

For more information about the credit quality of Farmer Mac's Agricultural Finance mortgage loans and the associated allowance for losses please refer to Note 5 and Note 6 to the consolidated financial statements. Activity affecting the allowance for loan losses and reserve for losses is discussed in "Management's Discussion and Analysis of Financial Condition and Results of Operations—Results of Operations—Provision for and Release of Allowance for Loan Losses and Reserve for Losses."

Infrastructure Finance - Direct Credit Exposure

Farmer Mac's direct credit exposure to Infrastructure Finance loans held and loans underlying LTSPCs as of June 30, 2025 was $6.6 billion across 45 states. For more information about Farmer Mac's underwriting and collateral valuation standards for Infrastructure Finance loans, see "Business—Farmer Mac's Lines of Business—Infrastructure Finance—Underwriting and Collateral Standards" in Farmer Mac's 2024 Annual Report. As of June 30, 2025, there were no delinquencies in Farmer Mac's portfolio of Infrastructure Finance loans. Substandard assets within the Infrastructure Finance portfolio increased from $42.2 million as of March 31, 2025 to $72.2 million as of June 30, 2025, primarily as a result of two borrowers that were downgraded to substandard during the quarter. One of the downgraded loans was a Renewable Energy solar project and the other was a Broadband Infrastructure loan.

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