Company: AGM-PH
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000845877-25-000204
Chunk: 6

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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 integral part of these consolidated financial statements.

6

FEDERAL AGRICULTURAL MORTGAGE CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

For the Six Months Ended June 30, 2025June 30, 2024 (in thousands)Cash flows from operating activities: Net income$104,488 $100,851 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(11,195)(13,257)Net amortization of debt premiums, discounts, and issuance costs4,438 29,553 Net change in fair value of trading securities, loans held for sale, hedged items, and financial derivatives(152,332)141,556 Losses on sale of mortgage loans— 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 losses9,395 4,360 Excess tax benefits related to stock-based awards(645)221 Deferred income taxes(696)4,033 Stock-based compensation expense5,274 5,038 Purchases of loans held for sale(7,770)— Proceeds from repayment of loans purchased as held for sale22,583 13,564 Net change in:Interest receivable(9,655)(1,189)Guarantee and commitment fees receivable(57)273 Other assets24,895 (13,176)Accrued interest payable15,497 12,330 Custodial deposit liability(107,428)11,872 Other liabilities5,598 (6,658)Net cash (used in)/provided by operating activities(97,541)289,466 Cash flows from investing activities: Purchases of equipment and leasehold improvements— (5,206)Purchases of available-for-sale and held-to-maturity investment securities(1,295,092)(1,165,956)Purchases of other investment securities(3,240)(581)Purchases of Farmer Mac Guaranteed Securities and USDA Securities(613,730)(798,234)Purchases of loans held for investment(2,205,600)(1,593,