FEDERAL AGRICULTURAL MORTGAGE CORP
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
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FY2025 · Filed Feb 19, 2026
AGM$181.57+0.8%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| As of | ||
|---|---|---|
| December 31, 2025 | December 31, 2024 | |
| (in thousands) | ||
| Assets: | ||
| Cash and cash equivalents (includes restricted cash of $24,475 and $16,190, respectively) | $931,067 | $1,024,007 |
| Investment securities: | ||
| Available-for-sale, at fair value (amortized cost of $13,813,551 and $11,940,774, respectively) | 13,580,285 | 11,467,560 |
| Held-to-maturity, at amortized cost | 3,954,223 | 5,097,492 |
| Other investments | 15,871 | 11,835 |
| Total Investment Securities | 17,550,379 | 16,576,887 |
| Loans: | ||
| Loans held for sale, at lower of cost or fair value | — | 6,170 |
| Loans held for investment, at amortized cost | 13,877,051 | 11,183,408 |
| Loans held for investment in consolidated trusts, at amortized cost | 2,482,010 | 2,038,283 |
| Allowance for losses | (37,785) | (23,223) |
| Total loans, net of allowance | 16,321,276 | 13,204,638 |
| Financial derivatives, at fair value | 44,875 | 27,789 |
| Accrued interest receivable (includes $40,945 and $28,563, respectively, related to consolidated trusts) | 357,155 | 310,592 |
| Guarantee and commitment fees receivable | 57,214 | 50,499 |
| Deferred tax asset, net | 173 | 1,544 |
| Prepaid expenses and other assets | 108,018 | 128,786 |
| Total Assets | $35,370,157 | $31,324,742 |
| Liabilities and Equity: | ||
| Liabilities: | ||
| Notes payable | $30,822,570 | $27,371,174 |
| Debt securities of consolidated trusts held by third parties | 2,365,435 | 1,929,628 |
| Financial derivatives, at fair value | 21,618 | 77,326 |
| Accrued interest payable (includes $15,795 and $12,387, respectively, related to consolidated trusts) | 233,714 | 195,113 |
| Guarantee and commitment obligation | 54,770 | 48,326 |
| Other liabilities | 153,101 | 214,149 |
| Total Liabilities | 33,651,208 | 29,835,716 |
| Commitments and Contingencies (Note 10) | ||
| 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 | 96,844 | — |
| 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, 9,325,556 shares and 9,360,083 shares outstanding, respectively | 9,326 | 9,360 |
| Additional paid-in capital | 139,370 | 135,894 |
| Accumulated other comprehensive income/(loss), net of tax | 13,382 | (12,147) |
| Retained earnings | 1,047,347 | 943,239 |
| Total Equity | 1,718,949 | 1,489,026 |
| Total Liabilities and Equity | $35,370,157 | $31,324,742 |
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