CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets:
Cash and cash equivalents	$ 1,231,585	$ 604,381
Loans:
Loans held for investment, at amortized cost	5,789,391	5,390,977
Loans held for investment in consolidated trusts, at amortized cost	1,540,689	1,600,917
Allowance for losses	(14,856)	(10,454)
Total loans, net of allowance	7,315,224	6,981,440
Financial derivatives, at fair value	12,692	10,519
Interest receivable (includes $11,944 and $20,568, respectively, related to consolidated trusts)	154,836	199,195
Guarantee and commitment fees receivable	37,521	38,442
Deferred tax asset, net	47,842	16,510
Prepaid expenses and other assets	61,133	22,463
Total Assets	23,180,110	21,709,374
Liabilities:
Notes payable	20,665,020	19,098,648
Debt securities of consolidated trusts held by third parties	1,549,527	1,616,504
Financial derivatives, at fair value	53,795	27,042
Accrued interest payable (includes $9,588 and $18,018, respectively, related to consolidated trusts)	104,380	106,959
Guarantee and commitment obligation	35,939	36,700
Accounts payable and accrued expenses	74,412	22,081
Reserve for losses	3,420	2,164
Total Liabilities	22,486,493	20,910,098
Commitments and Contingencies
Common stock:
Additional paid-in capital	120,412	119,304
Accumulated other comprehensive loss, net of tax	(121,437)	(16,161)
Retained earnings	455,545	457,047
Total Equity	693,617	799,276
Total Liabilities and Equity	23,180,110	21,709,374
5.875% Non-Cumulative Preferred Stock, Series A
Preferred stock:
Preferred stock	58,333	58,333
6.000% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series C
Preferred stock:
Preferred stock	73,382	73,382
5.700% Non-Cumulative Preferred Stock, Series D
Preferred stock:
Preferred stock	96,659	96,659
Class A voting common stock
Common stock:
Common Stock	1,031	1,031
Common Class B, Voting
Common stock:
Common Stock	500	500
Class C non-voting common stock
Common stock:
Common Stock	9,192	9,181
Debt Securities
Assets:
Available-for-sale, at fair value	2,961,157	2,959,843
Held-to-maturity, at amortized cost	45,032	45,032
Total Securities	3,006,189	3,004,875
Farmer Mac Guaranteed Securities:
Assets:
Available-for-sale, at fair value	7,587,186	7,143,025
Held-to-maturity, at amortized cost	1,447,883	1,447,451
Total Securities	9,035,069	8,590,476
USDA Securities:
Assets:
Held-to-maturity, at amortized cost	2,269,611	2,232,160
Trading, at fair value	8,408	8,913
Total Securities	$ 2,278,019	$ 2,241,073