CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended				9 Months Ended
	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013
Interest income:
Investments and cash equivalents	$ 4,507		$ 5,263		$ 14,845		$ 16,468
Farmer Mac Guaranteed Securities and USDA Securities	30,004		32,746		90,373		96,072
Loans	26,371		24,966		67,157		73,678
Total interest income	60,882	[1]	62,975	[2]	172,375	[1]	186,218	[2]
Total interest expense	48,886	[3]	34,787	[4]	126,114	[3]	101,499	[4]
Net interest income	11,996		28,188		46,261		84,719
(Provision for)/release of loan losses	(511)		499		499		598
Net interest income after (provision for)/release of loan losses	11,485		28,687		46,760		85,317
Non-interest income:
Guarantee and commitment fees	6,172		6,819		19,093		20,190
Gains/(losses) on financial derivatives and hedging activities	808		3,024		(12,468)		22,501
Gains/(losses) on trading securities	16,369		(626)		24,772		(743)
(Losses)/gains on sale of available-for-sale investment securities	(396)		0		(238)		3,073
Gains on sale of real estate owned	0		39		165		1,210
Other income	502		565		794		2,518
Non-interest income	23,455		9,821		32,118		48,749
Non-interest expense:
Compensation and employee benefits	4,693		4,523		14,038		13,792
General and administrative	3,123		2,827		9,205		8,459
Regulatory fees	593		593		1,781		1,781
Real estate owned operating costs, net	1		35		62		420
(Release of)/provision for reserve for losses	(1,315)		463		(2,188)		1,034
Non-interest expense	7,095	[5]	8,441	[5]	22,898	[5]	25,486	[5]
Income before income taxes	27,845		30,067		55,980		108,580
Income tax expense	7,564		8,226		55		29,978
Net income	20,281		21,841		55,925		78,602
Less: Net income attributable to non-controlling interest - preferred stock dividends	(5,412)		(5,547)		(16,778)		(16,641)
Net income attributable to Farmer Mac	14,869		16,294		39,147		61,961
Preferred stock dividends	(3,283)		(881)		(6,543)		(2,613)
Net income attributable to common stockholders	$ 11,586		$ 15,413		$ 32,604		$ 59,348
Earnings per common share and dividends:
Basic earnings per common share	$ 1.06		$ 1.42		$ 2.99		$ 5.50
Diluted earnings per common share	$ 1.02		$ 1.37		$ 2.87		$ 5.3
Common stock dividends per common share	$ 0.14		$ 0.12		$ 0.42		$ 0.36

[1] Includes reconciling adjustments for the amortization of premiums and discounts on assets consolidated at fair value to reflect core earnings amounts and interest income related to securities purchased under agreements to resell.

[2] Includes reconciling adjustments for the amortization of premiums and discounts 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. Includes reconciling adjustments for interest expense related to securities sold, not yet purchased.

[4] 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.

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