CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Interest income:
Investments and cash equivalents	$ 7,096	$ 22,855	$ 35,236	$ 61,718
Farmer Mac Guaranteed Securities and USDA Securities	45,335	81,649	178,644	252,629
Loans	56,204	56,992	172,230	167,792
Total interest income	108,635	161,496	386,110	482,139
Total interest expense	63,974	121,384	251,789	358,374
Net interest income	44,661	40,112	134,321	123,765
Provision for losses	(653)	(760)	(4,542)	(1,074)
Net interest income after provision for losses	44,008	39,352	129,779	122,691
Non-interest income/(expense):
Guarantee and commitment fees	3,159	3,349	9,495	10,265
(Losses)/gains on financial derivatives	(564)	(7,360)	(3,339)	1,193
(Losses)/gains on trading securities	(258)	49	(173)	154
Gains on sale of real estate owned	0	0	485	0
(Provision)/release of reserve for losses	(547)	137	(540)	424
Other income	594	530	2,639	1,378
Non-interest income/(expense)	2,384	(3,295)	8,567	13,414
Operating expenses:
Compensation and employee benefits	8,791	7,654	27,005	22,030
General and administrative	5,044	5,253	15,702	14,538
Regulatory fees	725	688	2,175	2,063
Real estate owned operating costs, net	0	0	0	64
Operating expenses	14,560	13,595	44,882	38,695
Income before income taxes	31,832	22,462	93,464	97,410
Income tax expense	6,340	4,629	19,516	20,362
Net income	25,492	17,833	73,948	77,048
Preferred stock dividends	(5,166)	(3,427)	(12,536)	(10,508)
Loss on retirement of preferred stock	(1,667)	0	(1,667)	(1,956)
Net income attributable to common stockholders	$ 18,659	$ 14,406	$ 59,745	$ 64,584
Earnings per common share:
Basic earnings per common share (in dollars per share)	$ 1.74	$ 1.34	$ 5.57	$ 6.04
Diluted earnings per common share (in dollars per share)	$ 1.73	$ 1.33	$ 5.54	$ 5.99