Company: AGM-PH
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000845877-25-000252
Chunk: 271

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 271
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7,433 3,428 (170)3,258 Charge-off(4,423)— (4,423)— — — Recovery2,229 — 2,229 — — — Ending Balance$35,633 $1,576 $37,209 $20,352 $1,523 $21,875 For the Nine Months EndedBeginning Balance$23,670 $1,622 $25,292 $16,589 $1,711 $18,300 Provision for/(release of) losses16,874 (46)16,828 7,806 (188)7,618 Charge-off(7,263)— (7,263)(4,043)— (4,043)Recovery2,352 — 2,352 — — — Ending Balance$35,633 $1,576 $37,209 $20,352 $1,523 $21,875 

During third quarter 2025, we recorded a $7.4 million net provision to the total allowance, which related to an increase in expected credit losses on existing assets and on new volume. See Notes 5 and 6 to the consolidated financial statements and "Management's Discussion and Analysis of Financial Condition and Results of Operations—Risk Management—Credit Risk—Loans and Guarantees." 

Losses on financial derivatives. The components of gains and losses on financial derivatives for the three and nine months ended September 30, 2025 and 2024 are summarized in the following table:

Table 12 For the Three Months EndedFor the Nine Months EndedChangeChange September 30, 2025September 30, 2024$%September 30, 2025September 30, 2024$% (dollars in thousands)Gains/(losses) on undesignated financial derivatives due to fair value changes$882 $(1,064)$1,946 (183)%$(2,330)$260 $(2,590)(996)%Accrual of contractual payments(707)(858)151 (18)%(597)(1,379)782 (57)%Losses due to terminations or net settlements(1,237)(12)(1,225)10,208 %(691)(535)(156)29 %Losses