Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 7

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 7
---
53,746 Other comprehensive income, net of tax— — — — — 36,027 — 36,027 Cash dividends:Preferred stock— — — — — — (6,791)(6,791)Common stock (cash dividend of $1.40 per share)— — — — — — (15,186)(15,186)Issuance of Class C Common Stock— — 27 27 64 — — 91 Stock-based compensation cost— — — — 3,483 — — 3,483 Other stock-based award activity— — — — (2,890)— — (2,890)Balance as of March 31, 202419,980 $484,531 10,869 $10,869 $133,576 $(4,118)$855,485 $1,480,343 

The accompanying notes are an integral part of these consolidated financial statements.

6

FEDERAL AGRICULTURAL MORTGAGE CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

For the Three Months Ended March 31, 2025March 31, 2024 (in thousands)Cash flows from operating activities: Net income$49,651 $53,746 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(4,781)(7,295)Amortization of debt premiums, discounts, and issuance costs18,053 11,586 Net change in fair value of trading securities, loans held for sale, hedged items, and financial derivatives(108,740)123,519 Losses on sale of real estate owned69 — Total provision for/(release of) allowance for losses1,583 (1,870)Excess tax benefits related to stock-based awards(659)(120)Deferred income taxes1,198 2,688 Stock-based compensation expense3,529 3,483 Proceeds from repayment of loans purchased as held for sale19,928 12,769 Net change in:Interest receivable43,542 40,273 Guarantee and