CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Interest income:
Investments and cash equivalents	$ 22,855	$ 15,123	$ 61,718	$ 38,681
Farmer Mac Guaranteed Securities and USDA Securities	81,649	76,870	252,629	213,479
Loans	56,992	50,622	167,792	145,671
Total interest income	161,496	142,615	482,139	397,831
Total interest expense	121,384	97,557	358,374	265,611
Net interest income	40,112	45,058	123,765	132,220
Provision for loan losses	(760)	(99)	(1,074)	(92)
Net interest income after provision for loan losses	39,352	44,959	122,691	132,128
Non-interest income:
Guarantee and commitment fees	3,349	3,490	10,265	10,470
(Losses)/gains on financial derivatives	(7,360)	628	1,193	(688)
Gains/(losses) on trading securities	49	(3)	154	24
Losses on sale of real estate owned	0	(41)	0	(7)
Other income	530	365	1,378	1,259
Non-interest (loss)/income	(3,432)	4,439	12,990	11,058
Non-interest expense:
Compensation and employee benefits	7,654	6,777	22,030	20,367
General and administrative	5,253	4,350	14,538	13,878
Regulatory fees	688	625	2,063	1,875
Real estate owned operating costs, net	0	0	64	16
(Release of)/provision for reserve for losses	(137)	(102)	(424)	77
Non-interest expense	13,458	11,650	38,271	36,213
Income before income taxes	22,462	37,748	97,410	106,973
Income tax expense	4,629	7,979	20,362	21,749
Net income attributable to Farmer Mac	17,833	29,769	77,048	85,224
Preferred stock dividends	(3,427)	(3,295)	(10,508)	(9,886)
Loss on retirement of preferred stock	0	0	(1,956)	0
Net income attributable to common stockholders	$ 14,406	$ 26,474	$ 64,584	$ 75,338
Earnings per common share:
Basic earnings per common share (in dollars per share)	$ 1.34	$ 2.48	$ 6.04	$ 7.07
Diluted earnings per common share (in dollars per share)	$ 1.33	$ 2.46	$ 5.99	$ 7.01