FEDERAL AGRICULTURAL MORTGAGE CORP

For the period ended Jun 30, 2025. Filed Aug 7, 2025.

About this filing

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.

Jun 30, 2025 · Filed Aug 7, 2025

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

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Contents

Balance Sheet Review

The following table summarizes Farmer Mac's balance sheet as of the periods indicated:

Table 22

As of · Change
	June 30, 2025	December 31, 2024	$	%
(in thousands)
Assets
Cash and cash equivalents	$1,030,329	$1,024,007	$6,322	1%
Investment securities	6,697,258	5,973,301	723,957	12%
Farmer Mac Guaranteed Securities	7,862,498	8,232,234	(369,736)	(4)%
USDA Securities	2,407,198	2,371,352	35,846	2%
Loans, net of allowance	12,205,432	11,166,984	1,038,448	9%
Loans held in trusts	2,274,551	2,037,654	236,897	12%
Other	518,643	519,210	(567)	—%
Total assets	$32,995,909	$31,324,742	$1,671,167	5%
Liabilities
Notes Payable	$28,843,331	$27,371,174	$1,472,157	5%
Debt securities of consolidated trusts held by third parties	2,157,962	1,929,628	228,334	12%
Other	450,309	534,914	(84,605)	(16)%
Total liabilities	$31,451,602	$29,835,716	$1,615,886	5%
Total equity	1,544,307	1,489,026	55,281	4%
Total liabilities and equity	$32,995,909	$31,324,742	$1,671,167	5%

Assets. The increase in total assets was primarily attributable to new loan volume and a larger investment portfolio.

Liabilities. The increase in total liabilities was primarily due to an increase in total notes payable to fund the acquisition of loan volume.

Equity. The increase in total equity was primarily due to an increase in retained earnings.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.