CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014
Interest income:
Investments and cash equivalents	$ 2,865		$ 5,237
Farmer Mac Guaranteed Securities and USDA Securities	33,122		32,846
Loans	27,964		14,369
Total interest income	63,951	[1]	52,452	[2]
Total interest expense	33,162	[3]	34,726	[4]
Net interest income	30,789		17,726
Provision for loan losses	(76)		(573)
Net interest income after provision for loan losses	30,713		17,153
Non-interest income:
Guarantee and commitment fees	3,377		3,784
Losses on financial derivatives and hedging activities	(3,882)		(7,578)
Gains on trading securities	362		655
Gains on sale of available-for-sale investment securities	6		15
Losses on sale of real estate owned	(1)		(3)
Other income	613		92
Non-interest income/(loss)	475		(3,035)
Non-interest expense:
Compensation and employee benefits	5,693		4,456
General and administrative	2,823		2,794
Regulatory fees	600		594
Real estate owned operating costs, net	(1)		2
(Release of)/provision for reserve for losses	(772)		101
Non-interest expense	8,343	[5]	7,947	[5]
Income before income taxes	22,845		6,171
Income tax expense/(benefit)	4,231		(1,141)
Net income	18,614		7,312
Less: Net income attributable to non-controlling interest	(5,354)		(5,547)
Net income attributable to Farmer Mac	13,260		1,765
Preferred stock dividends	(3,295)		(952)
Loss on retirement of preferred stock	(8,147)		0
Net income attributable to common stockholders	$ 1,818		$ 813
Earnings per common share and dividends:
Basic earnings per common share	$ 0.17		$ 0.07
Diluted earnings per common share	$ 0.16		$ 0.07
Common Stock, Dividends, Per Share, Declared	$ 0.16		$ 0.14

[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 "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 "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