Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 34

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 34
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 interest income of $158.4 million, $143.5 million, and $79.4 million during 2024, 2023, and 2022, respectively, related to its AgVantage transactions with CFC.

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As of both December 31, 2024 and 2023, Farmer Mac had $0.1 million of commitment fees receivable from CFC and earned commitment fees of $0.9 million, $1.0 million, and $1.1 million, respectively for 2024, 2023, and 2022. CFC retained servicing fees of $4.1 million, $3.7 million, and $3.4 million in 2024, 2023, and 2022, respectively, for its work as a Farmer Mac central servicer.CoBank:Farmer Mac considers CoBank a related party because CoBank owns approximately 32.6% of Farmer Mac's Class B voting common stock.Farmer Mac purchased $442.7 million, $438.8 million, and $376.0 million of loans and participations from CoBank, under the Infrastructure Finance and Agricultural Finance lines of business in 2024, 2023, and 2022, respectively. Of Farmer Mac's total outstanding business volume as of December 31, 2024 and 2023, CoBank's loans, participations, and unfunded commitments represented 7.1% and 6.7%, respectively, of total outstanding volume (excluding loans serviced for others). CoBank retained servicing fees of $4.0 million, $3.6 million, and $3.5 million in 2024, 2023, and 2022, respectively, for its work as a Farmer Mac central servicer.  AgFirst Farm Credit Bank: Farmer Mac considers AgFirst Farm Credit Bank ("AgFirst") a related party because AgFirst owns approximately 16.8% of Farmer Mac's Class B voting common stock.    AgFirst entered into no Agricultural Finance LTSPC transactions in either 2024, 2023, or 2022. The aggregate balance of  Agricultural Finance LTSPCs outstanding as of December 31, 2024 and 2023 was $415.2 million and $447.3 million, respectively. In 2024, 2023, and 2022, Farmer Mac received $1.3 million