FEDERAL AGRICULTURAL MORTGAGE CORP

For the period ended Sep 30, 2025. Filed Nov 3, 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.

Sep 30, 2025 · Filed Nov 3, 2025

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

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Contents

Consolidated Balance Sheets

	As of
	September 30, 2025	December 31, 2024
(in thousands)
Assets:
Cash and cash equivalents (includes restricted cash of $16,579 and $16,190, respectively)	$901,023	$1,024,007
Investment securities:
Available-for-sale, at fair value (amortized cost of $6,714,777 and $6,105,116, respectively)	6,655,946	5,953,014
Held-to-maturity, at amortized cost	8,815	9,270
Other investments	14,343	11,017
Total Investment Securities	6,679,104	5,973,301
Farmer Mac Guaranteed Securities:
Available-for-sale, at fair value (amortized cost of $6,042,789 and $5,835,658, respectively)	5,854,098	5,514,546
Held-to-maturity, at amortized cost	1,692,601	2,717,688
Total Farmer Mac Guaranteed Securities	7,546,699	8,232,234
USDA Securities:
Trading, at fair value	456	818
Held-to-maturity, at amortized cost	2,389,180	2,370,534
Total USDA Securities	2,389,636	2,371,352
Loans:
Loans held for sale, at lower of cost or fair value	—	6,170
Loans held for investment, at amortized cost	13,192,117	11,183,408
Loans held for investment in consolidated trusts, at amortized cost	2,205,213	2,038,283
Allowance for losses	(35,340)	(23,223)
Total loans, net of allowance	15,361,990	13,204,638
Financial derivatives, at fair value	32,667	27,789
Accrued interest receivable (includes $22,373 and $28,563, respectively, related to consolidated trusts)	284,786	310,592
Guarantee and commitment fees receivable	50,775	50,499
Deferred tax asset, net	3,225	1,544
Prepaid expenses and other assets	129,655	128,786
Total Assets	$33,379,560	$31,324,742
Liabilities and Equity:
Liabilities:
Notes payable	$29,196,780	$27,371,174
Debt securities of consolidated trusts held by third parties	2,089,042	1,929,628
Financial derivatives, at fair value	29,161	77,326
Accrued interest payable (includes $11,945 and $12,387, respectively, related to consolidated trusts)	238,582	195,113
Guarantee and commitment obligation	48,426	48,326
Accounts payable and accrued expenses	88,910	212,527
Reserve for losses	1,576	1,622
Total Liabilities	31,692,477	29,835,716
Commitments and Contingencies (Note 6)
Equity:
Preferred stock:
Series D, par value $25 per share, 4,000,000 shares authorized, issued and outstanding	96,659	96,659
Series E, par value $25 per share, 3,180,000 shares authorized, issued and outstanding	77,003	77,003
Series F, par value $25 per share, 4,800,000 shares authorized, issued and outstanding	116,160	116,160
Series G, par value $25 per share, 5,000,000 shares authorized, issued and outstanding	121,327	121,327
Series H, par value $25 per share, 4,000,000 shares authorized, issued and outstanding	96,889	—
Common stock:
Class A Voting, $1 par value, no maximum authorization, 1,030,780 shares outstanding	1,031	1,031
Class B Voting, $1 par value, no maximum authorization, 500,301 shares outstanding	500	500
Class C Non-Voting, $1 par value, no maximum authorization, 9,403,453 shares and 9,360,083 shares outstanding, respectively	9,403	9,360
Additional paid-in capital	137,602	135,894
Accumulated other comprehensive loss, net of tax	(5,431)	(12,147)
Retained earnings	1,035,940	943,239
Total Equity	1,687,083	1,489,026
Total Liabilities and Equity	$33,379,560	$31,324,742

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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.