Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 247

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 247
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689 935 27,656 (2,689)71,103 0.98 %1.94 %0.24 %2.39 %1.76 %0.42 %(0.19)%1.07 %

111

The following table presents quarterly core earnings (a non-GAAP measure) reconciled to net income attributable to common stockholders:

Table 41Core Earnings by Quarter EndDecember 2024September 2024June 2024March 2024December 2023September 2023June 2023March 2023December 2022(in thousands)Revenues:Net effective spread$87,528 $85,396 $83,596 $83,044 $84,551 $83,424 $81,832 $77,173 $71,103 Guarantee and commitment fees5,086 4,997 5,256 4,982 4,865 4,828 4,581 4,654 4,677 Gain on sale of investment securities— — 1,052 — — — — — — Loss on sale of mortgage loan— — (1,147)— — — — — — Other(491)1,133 481 1,077 767 1,056 409 1,067 390 Total revenues92,123 91,526 89,238 89,103 90,183 89,308 86,822 82,894 76,170 Credit related expense/(income):Provision for/(release of) losses3,872 3,258 6,230 (1,870)(575)(181)1,142 750 1,945 REO operating expenses— 196 — — — — — — 819 Total credit related expense/(income)3,872 3,454 6,230 (1,870)(575)(181)1,142 750 2,764 Operating expenses:Compensation and employee benefits15,641 15,237 14,840 18,257 15,523 14,103 13,937 15,351 12,105 General and administrative12,452 8,625 8,904 8,255 8,