Company: AGM-PH
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000845877-25-000252
Chunk: 88

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 88
---
0.8 billion of new purchases, commitments, and guarantees. Included in the $0.8 billion is the purchase of $271.9 million of Farm & Ranch loans. Scheduled loan maturities and repayments in the aggregate amount of $157.4 million partially offset those purchases.

During third quarter 2024, a total of $0.5 billion in Farm & Ranch AgVantage securities matured without refinancing, which primarily reflected slower loan growth resulting in less liquidity needs from Farmer Mac's AgVantage counterparties.

The $25.9 million net increase in Corporate AgFinance during third quarter 2024 resulted from $307.3 million of new purchases and unfunded loan commitments, which was partially offset by $281.4 million of scheduled maturities, repayments, sales, and paydowns on revolving commitments.

The $0.2 billion net decrease in Power & Utilities during third quarter 2024 resulted from $361.0 million of new purchases, which was partially offset by $574.8 million of scheduled maturities and repayments.

The $0.1 billion net increase in Broadband Infrastructure during third quarter 2024 resulted from $187.0 million of new purchases and unfunded commitments, which was partially offset by $94.5 million of scheduled maturities and repayments.

The $0.2 billion net increase in Renewable Energy during third quarter 2024 primarily reflects $357.7 million in loan purchases and unfunded commitments, partially offset by $138.1 million in repayments. The net increase in Renewable Energy loan purchases and unfunded commitments primarily reflects the continued strong demand for renewable power generation and storage.

74

The level and composition of Farmer Mac’s outstanding business volume is based on the relationship between new business, loan sales, scheduled maturities, and repayments on existing assets from period to period. This relationship in turn depends on a variety of factors both internal and external to Farmer Mac. The external factors include general market forces, competition, and our counterparties’ liquidity needs, access to alternative funding, desired products, and assessment of strategic factors. The internal factors include our assessment of profitability, mission fulfillment, credit risk, and customer relationships. For more information about potential growth opportunities in Farmer Mac's lines of business, see "Management's Discussion and Analysis of Financial Condition and Results of Operations—Outlook" in this report.

The following table sets forth information about the Farmer Mac Guaranteed Securities issued during the periods indicated:

Table 16