Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 150

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 150
---
31, 2025 and 2024:Table 5.3For the Three Months EndedMarch 31, 2025March 31, 2024Agricultural Finance loansInfrastructureFinance loans(3)Agricultural Finance loansInfrastructureFinance loans(3)Farm & Ranch(1)Corporate AgFinance(2)TotalFarm & Ranch(1)Corporate AgFinance(2)Total(in thousands)Beginning Balance$5,132 $5,379 $10,511 $12,712 $3,936 $2,948 $6,884 $9,147 (Release of)/provision for losses (61)836 775 975 599 (379)220 (1,963)Recovery— 83 83 — — — — — Ending Balance$5,071 $6,298 $11,369 $13,687 $4,535 $2,569 $7,104 $7,184 (1)As of March 31, 2025 and 2024, the allowance for losses for Agricultural Finance Farm & Ranch loans includes $0.7 million and $1.4 million allowance for collateral dependent assets secured by agricultural real estate, respectively.(2)As of March 31, 2025 and 2024, the allowance for losses for Agricultural Finance Corporate AgFinance loans includes $1.0 million and $0.0 million allowance for collateral dependent assets secured by agricultural real estate, respectively.(3)As of both March 31, 2025 and 2024, the allowance for losses for Infrastructure Finance loans includes no allowance for collateral dependent assets. The $1.0 million net provision to the allowance for the Infrastructure Finance portfolio during the quarter ended March 31, 2025 was primarily attributable to new loan volume within the Renewable Energy and Power & Utilities segments.The $0.8 million net provision to the allowance for the Agricultural Finance mortgage loan portfolio during the quarter ended March 31, 2025 was primarily attributable to new loan volume.The $2.0 million net release from the allowance for the Infrastructure Finance portfolio during thequarter ended March 31, 2024 was primarily attributable to a single telecommunications loan thatcompleted a restructuring, which resulted in an improved collateral position and a paydown ofapproximately 15% of its previously unpaid principal balance. The $0.2 million net provision to the