Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 298

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 298
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81,832 1.03 %1.92 %0.25 %2.25 %1.47 %0.48 %0.04 %1.20 %March 31, 202332,465 7,148 3,599 1,908 858 31,738 (543)77,173 0.97 %1.94 %0.24 %2.53 %1.53 %0.47 %(0.04)%1.15 %

100

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

Table 41Core Earnings by Quarter EndMarch 2025December 2024September 2024June 2024March 2024December 2023September 2023June 2023March 2023(in thousands)Revenues:Net effective spread$89,990 $87,528 $85,396 $83,596 $83,044 $84,551 $83,424 $81,832 $77,173 Guarantee and commitment fees5,488 5,086 4,997 5,256 4,982 4,865 4,828 4,581 4,654 Gain on sale of investment securities— — — 1,052 — — — — — Loss on sale of mortgage loan— — — (1,147)— — — — — Other1,315 (491)1,133 481 1,077 767 1,056 409 1,067 Total revenues96,793 92,123 91,526 89,238 89,103 90,183 89,308 86,822 82,894 Credit related expense/(income):Provision for/(release of) losses1,583 3,872 3,258 6,230 (1,870)(575)(181)1,142 750 REO operating expenses— — 196 — — — — — — Losses on sale of REO68 — — — — — — — — Total credit related expense/(income)1,651 3,872