CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended				6 Months Ended
	Jun. 30, 2013		Jun. 30, 2012		Jun. 30, 2013		Jun. 30, 2012
Interest income:
Loans	$ 24,669		$ 28,031		$ 48,712		$ 57,184
Total interest income	61,745	[1]	71,578	[2]	123,243	[1]	144,709	[2]
Total interest expense	33,584	[3]	36,961	[4]	66,712	[3]	75,884	[4]
Net interest income	28,161		34,617		56,531		68,825
Provision for loan losses	529		1,220		99		800
Net interest income after provision for loan losses	28,690		35,837		56,630		69,625
Non-interest income:
Guarantee and commitment fees	6,759		6,064		13,371		11,994
Gains on derivatives instruments and hedging activity net pretax	14,983		(31,292)		19,477		(24,892)
Gains on trading assets	(327)		(3,086)		(117)		(1,987)
Gains on sale of available-for-sale investment securities	3,071		0		3,073		28
Gains on sale of real estate owned	1,124		262		1,171		262
Other income	873		771		1,953		1,492
Non-interest income	26,483		(27,281)		38,928		(13,103)
Non-interest expense:
Compensation and employee benefits	4,571		4,574		9,269		9,059
General and administrative	2,715		2,664		5,632		5,422
Regulatory fees	594		562		1,188		1,125
Real estate owned operating costs, net	259		15		385		21
Provision for losses	(175)		1,394		571		1,424
Non-interest expense	7,964	[5]	9,209	[5]	17,045	[5]	17,051	[5]
Income before income taxes	47,209		(653)		78,513		39,471
Income tax expense	13,036		(2,629)		21,752		9,025
Net income	34,173		1,976		56,761		30,446
Net Income (Loss) Attributable to Noncontrolling Interest - preferred stock dividends	(5,547)		(5,547)		(11,094)		(11,094)
Net income attributable to Farmer Mac	28,626		(3,571)		45,667		19,352
Preferred stock dividends	(881)		(720)		(1,732)		(1,440)
Net income attributable to common stockholders	27,745		(4,291)		43,935		17,912
Earnings per common share and dividends:
Basic earnings per common share	$ 2.57		$ (0.41)		$ 4.08		$ 1.72
Diluted Earnings per common share	$ 2.48		$ (0.41)		$ 3.93		$ 1.63
Common stock dividends per common share	$ 0.12		$ 0.10		$ 0.24		$ 0.20
Investments and Cash Equivalents
Interest income:
Interest and dividend income, securities	5,471		6,024		11,205		12,256
Farmer Mac and USDA Guaranteed Securities
Interest income:
Interest and dividend income, securities	$ 31,605		$ 37,523		$ 63,326		$ 75,269

[1] Includes reconciling adjustments for the amortization of premiums and discounts on assets consolidated at fair value to reflect core earnings amounts.

[2] Includes reconciling adjustments for yield maintenance income and amortization of premiums on assets consolidated at fair value to reflect core earnings amounts.

[3] Based on effective funding cost determined for each operating segment, including expenses related to interest rate swaps not designated as hedges, which are included in "Gains/(losses) on financial derivatives and hedging activities" on the consolidated financial statements.

[4] Based on effective funding cost determined for each operating segment, including expenses related to interest rate swaps, which are included in "Gains/(losses) on financial derivatives and hedging activities" on the consolidated financial statements.

[5] Includes directly attributable costs and an allocation of indirectly attributable costs based on headcount.