Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 195

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 195
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 net increase in Power & Utilities during first quarter 2025 was primarily attributable to the purchase of a $0.3 billion AgVantage security. 

The $0.2 billion net increase in Broadband Infrastructure during first quarter 2025 was primarily attributable to $0.2 billion of new commitments.

The $0.2 billion net increase in Renewable Energy during first quarter 2025 was primarily attributable to $0.3 billion in loan purchases and commitments. The net increase in Renewable Energy loan purchases and commitments primarily reflects the continued strong demand for renewable power generation and storage. 

Farmer Mac's outstanding business volume was $28.8 billion as of March 31, 2024, a net increase of $0.4 billion from December 31, 2023 after taking into account all new business, maturities, and paydowns on existing assets.

The $0.1 billion net increase in Farm & Ranch during first quarter 2024 resulted from $0.7 billion of new

purchases, commitments, and guarantees, partially offset by $0.6 billion of scheduled maturities and

repayments. Included in the $0.7 billion is the purchase of $0.3 billion of Farm & Ranch loans, which

included the acquisition of a pool of loans totaling $0.1 billion from a single agricultural lender. That

agricultural lender's capital planning provided the opportunity to purchase that pool of loans. Scheduled

loan maturities and repayments in the aggregate amount of $0.2 billion partially offset those purchases.

Farmer Mac also purchased a total of $0.3 billion in Farm & Ranch AgVantage Securities during first

quarter 2024, which primarily reflected the refinancing of maturing securities and opportunistic new

purchases. The $0.3 billion in gross purchases was partially offset by $0.1 billion in scheduled maturities.

The $0.1 billion net increase in Corporate AgFinance during first quarter 2024 resulted from $0.3 billion

of new purchases and unfunded loan commitments, which was partially offset by $0.2 billion of scheduled

maturities, repayments, and paydowns on revolving commitments. Included in the $0.3 billion is $0.1

billion of purchases of Corporate AgFinance AgVantage Securities, which was partially offset by $0.1

billion of scheduled maturities.

The $0.3 billion net increase in Renewable