FEDERAL AGRICULTURAL MORTGAGE CORP

For the period ended Mar 31, 2025. Filed May 9, 2025.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 9, 2025

AGM$181.57+0.8%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations

	For the Three Months Ended
	March 31, 2025	March 31, 2024
(in thousands, except per share amounts)
Interest income:
Investments and cash equivalents	$83,308	$84,924
Farmer Mac Guaranteed Securities and USDA Securities	126,342	166,813
Loans	171,764	144,580
Total interest income	381,414	396,317
Total interest expense	290,475	309,949
Net interest income	90,939	86,368
(Provision for)/release of losses	(1,684)	1,801
Net interest income after (provision for)/release of losses	89,255	88,169
Non-interest income/(expense):
Guarantee and commitment fees	4,479	3,917
(Losses)/gains on financial derivatives	(2,636)	2,079
Release of reserve for losses	101	69
Other income	1,436	1,249
Non-interest income	3,380	7,314
Operating expenses:
Compensation and employee benefits	17,752	18,257
General and administrative	10,758	8,255
Regulatory fees	1,000	725
Operating expenses	29,510	27,237
Income before income taxes	63,125	68,246
Income tax expense	13,474	14,500
Net income	49,651	53,746
Preferred stock dividends	(5,666)	(6,791)
Net income attributable to common stockholders	$43,985	$46,955
Earnings per common share:
Basic earnings per common share	$4.04	$4.33
Diluted earnings per common share	$4.01	$4.28

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