Company: AGM-PH
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000845877-25-000252
Chunk: 19

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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2,305,725 Fixed rate Government/GSE guaranteed mortgage-backed securities2,544,136 (66,845)2,477,291 — 3,426 (142,750)2,337,967 Fixed rate U.S. Treasuries1,302,677 (10,743)1,291,934 — 2,604 (4,692)1,289,846 Total available-for-sale6,183,545 (78,429)6,105,116 (27)9,514 (161,589)5,953,014 Held-to-maturity:Floating rate Government/GSE guaranteed mortgage-backed securities(3)9,270 — 9,270 — 270 — 9,540 Total held-to-maturity$9,270 $— $9,270 $— $270 $— $9,540 (1)Amounts presented exclude $22.3 million of accrued interest receivable on investment securities as of December 31, 2024.(2)Represents the amount of impairment that has resulted from credit-related factors, and therefore was recognized in the Consolidated Statement of Operations as a provision for losses. Amount excludes unrealized losses relating to non-credit factors.(3)The held-to-maturity investment securities had a weighted average yield of 6.4% as of December 31, 2024.  Farmer Mac did not sell any securities from its available-for-sale or held-to-maturity investment portfolios during the three and nine months ended September 30, 2025. During the nine months ended September 30, 2024, Farmer Mac sold floating rate government/GSE guaranteed mortgage-backed securities for $115.2 million from its available-for-sale investment portfolio, resulting in a gain of $1.1 million. These sales were done to rebalance the liquidity investment portfolio given the lower level of business volume activity while demonstrating that the portfolio provides strong contingent liquidity. As of September 30, 2025 and December 31, 2024, unrealized losses on available-for-sale investment securities were as follows:Table 2.2 As of September 30, 2025 Available-for-Sale SecuritiesUnrealized loss position forless than 12 monthsUnrealized loss position formore than 12 monthsFair ValueUnrealized