Related Party Transactions - Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2017

The following transactions occurred between Farmer Mac and Zions during 2017, 2016, and 2015:

Table 3.1



	For the Year Ended December 31,
	2017		2016		2015
	(in thousands)
Unpaid Principal Balance:
Purchases:
Loans	$	126,449	$	153,140	$	178,890
USDA Securities	20,368		16,600		13,718
Sales of Farmer Mac Guaranteed Securities	128,924		273,586		255,338

CFC [Member]

The following transactions occurred between Farmer Mac and CFC during 2017, 2016, and 2015:

Table 3.2



Farmer Mac Loan Purchases and Guarantees
	For the Year Ended December 31,
	2017		2016		2015
	(in thousands)
Unpaid Principal Balance:
Loans	$	137,341	$	50,491	$	108,337
On-balance sheet AgVantage Securities	350,000		250,000		380,000
Off-balance sheet revolving floating rate AgVantage facility	—		—		300,000
LTSPCs	—		441,404		522,262
Total purchases and guarantees	$	487,341	$	741,895	$	1,310,599

Farmer Mac Guaranteed Securities and USDA Securities [Member]

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]

As of December 31, 2017 and 2016, unrealized losses on held-to-maturity and available-for-sale on-balance sheet Farmer Mac Guaranteed Securities and USDA Securities were as follows:

Table 5.2



	As of December 31, 2017
	Held-to-Maturity and Available-for-Sale Securities
	Unrealized loss position for less than 12 months					Unrealized loss position for more than 12 months
	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
	(in thousands)
Held-to-maturity:
AgVantage	$	1,304,160	$	(8,094	)	$	351,664	$	(3,335	)
Farmer Mac Guaranteed USDA Securities	24,721		(73		)	—		—
USDA Securities	451		(2		)	2,062,429		(54,967		)
Total held-to-maturity	$	1,329,332	$	(8,169	)	$	2,414,093	$	(58,302	)

Available-for-sale:
AgVantage	$	1,273,965	$	(8,819	)	$	1,759,377	$	(37,492	)



	As of December 31, 2016
	Available-for-Sale Securities
	Unrealized loss position for less than 12 months					Unrealized loss position for more than 12 months
	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
	(in thousands)
Held-to-maturity:
AgVantage	$	358,575	$	(3,175	)	$	—	$	—
Farmer Mac Guaranteed USDA Securities	30,575		(239		)	—		—
USDA Securities	1,816,366		(95,582		)	97,270		(8		)
Total held-to-maturity	$	2,205,516	$	(98,996	)	$	97,270	$	(8	)

Available-for-sale:
AgVantage	$	982,538	$	(18,482	)	$	1,131,930	$	(45,452	)

The unrealized losses presented above are principally due to higher interest rates from the date of acquisition to December 31, 2017 and, 2016, as applicable. In addition, the unrealized losses on the held-to-maturity USDA Securities as of both December 31, 2017 and 2016 reflect their increased cost basis resulting from their transfer to held-to-maturity as of October 1, 2016, as described above. The credit exposure related to Farmer Mac's USDA Guarantees line of business is covered by the full faith and credit guarantee of the United States. The unrealized losses from AgVantage securities were on 36 available-for-sale securities as of December 31, 2017. There were 23 held-to-maturity AgVantage securities with an unrealized loss as of December 31, 2017. The unrealized losses from AgVantage securities were on 22 available-for-sale securities as of December 31, 2016. There were 7 unrealized losses from held-to-maturity securities as of December 31, 2016. As of December 31, 2017, 16 available-for-sale AgVantage securities had been in a loss position for more than 12 months with a total unrealized loss of $37.5 million. As of December 31, 2016, 10 available-for-sale AgVantage securities had been in a loss position for more than 12 months with a total unrealized loss of $45.5 million. Farmer Mac has concluded that none of the unrealized losses on its held-to-maturity Farmer Mac Guaranteed Securities and USDA Securities and available-for-sale Farmer Mac Guaranteed Securities are other-than-temporary impairment as of either December 31, 2017 or December 31, 2016. Farmer Mac does not intend to sell these securities, and it is not more likely than not that Farmer Mac will be required to sell the securities before recovery of the amortized cost basis.