FEDERAL AGRICULTURAL MORTGAGE CORP
For the period ended Mar 31, 2026. Filed May 5, 2026.
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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, 2026 · Filed May 5, 2026
AGM$173.58-4.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| For the Three Months Ended | ||
|---|---|---|
| March 31, 2026 | March 31, 2025 | |
| (in thousands) | ||
| Cash flows from operating activities: | ||
| Net income | $59,123 | $49,651 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Net amortization of deferred gains, premiums, and discounts on loans, investments, Farmer Mac Guaranteed Securities, and USDA Securities | (5,092) | (4,781) |
| Net amortization of debt premiums, discounts, and issuance costs | 4,509 | 18,053 |
| Net change in fair value of hedged items, financial derivatives, loans held sale, and trading securities | 38,334 | (108,740) |
| Total provision for allowance for losses | 4,827 | 1,583 |
| Stock-based compensation expense | 3,004 | 3,529 |
| Proceeds from repayment of loans purchased as held for sale | 7,816 | 19,928 |
| Purchases of tax credits | (40,742) | — |
| Other | 1,294 | 608 |
| Net change in: | ||
| Interest receivable | 50,854 | 43,542 |
| Guarantee and commitment fees receivable | (296) | (36) |
| Other assets | 5,288 | 41,298 |
| Accrued interest payable | 21,084 | 26,841 |
| Custodial deposit liability | (25,353) | (141,384) |
| Other liabilities | (32,598) | 89 |
| Net cash provided by operating activities | 92,052 | (49,819) |
| Cash flows from investing activities: | ||
| Purchases of available-for-sale investment securities | (904,151) | (853,122) |
| Purchases of held-to-maturity investment securities | (661,823) | (78,516) |
| Purchases of other investment securities | (678) | (2,264) |
| Purchases of loans held for investment | (1,550,137) | (987,524) |
| Purchases of defaulted loans | — | (1,298) |
| Proceeds from repayment of available-for-sale investment securities | 450,303 | 608,578 |
| Proceeds from repayment of held-to-maturity investment securities | 384,951 | 338,358 |
| Proceeds from repayment of loans purchased as held for investment | 712,021 | 629,185 |
| Proceeds from sale of real estate owned | — | 725 |
| Net cash used in investing activities | (1,569,514) | (345,878) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of notes payable | 24,087,759 | 19,934,175 |
| Payments to redeem notes payable | (22,627,801) | (19,419,950) |
| Payments to third parties on debt securities of consolidated trusts | (104,098) | (67,501) |
| Purchases of common stock | (7,106) | — |
| Proceeds from common stock issuance | 60 | 79 |
| Tax payments related to share-based awards | (3,852) | (4,960) |
| Dividends paid on common and preferred stock | (24,632) | (22,018) |
| Net cash provided by financing activities | 1,320,330 | 419,825 |
| Net change in cash and cash equivalents | (157,132) | 24,128 |
| Cash, cash equivalents, and restricted cash at beginning of period | 931,067 | 1,024,007 |
| Cash, cash equivalents, and restricted cash at end of period | $773,935 | $1,048,135 |
| Non-cash activity: | ||
|---|---|---|
| Loans acquired through non-cash transactions | 56,920 | 26,023 |
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