CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets:
Cash and cash equivalents	$ 1,033,941	$ 604,381
Loans:
Loans held for investment, at amortized cost	7,261,933	5,390,977
Loans held for investment in consolidated trusts, at amortized cost	1,287,045	1,600,917
Allowance for losses	(13,832)	(10,454)
Financing Receivable, after Allowance for Credit Loss, Total	8,535,146	6,981,440
Financial derivatives, at fair value	17,468	10,519
Interest receivable (includes $16,401 and $20,568, respectively, related to consolidated trusts)	186,429	199,195
Guarantee and commitment fees receivable	37,113	38,442
Deferred tax asset, net	18,321	16,510
Prepaid expenses and other assets	24,545	22,463
Total Assets	24,355,501	21,709,374
Liabilities:
Notes payable	21,848,917	19,098,648
Debt securities of consolidated trusts held by third parties	1,323,786	1,616,504
Financial derivatives, at fair value	29,892	27,042
Accrued interest payable (includes $9,353 and $18,018, respectively, related to consolidated trusts)	92,738	106,959
Guarantee and commitment obligation	35,535	36,700
Accounts payable and accrued expenses	28,879	22,081
Reserve for losses	3,277	2,164
Total Liabilities	23,363,024	20,910,098
Commitments and Contingencies
Common stock:
Additional paid-in capital	122,899	119,304
Accumulated other comprehensive loss, net of tax	(13,923)	(16,161)
Retained earnings	509,560	457,047
Total Equity	992,477	799,276
Total Liabilities and Equity	24,355,501	21,709,374
Series A
Preferred stock:
Preferred stock	0	58,333
Series C
Preferred stock:
Preferred stock	73,382	73,382
Series D
Preferred stock:
Preferred stock	96,659	96,659
Series E
Preferred stock:
Preferred stock	77,003	0
Series F
Preferred stock:
Preferred stock	116,160	0
Class A voting common stock
Common stock:
Common Stock	1,031	1,031
Class B voting common stock
Common stock:
Common Stock	500	500
Class C non-voting common stock
Common stock:
Common Stock	9,206	9,181
Investment securities:
Assets:
Available-for-sale, at fair value	3,853,692	2,959,843
Held-to-maturity, at amortized cost	45,032	45,032
Total Securities	3,898,724	3,004,875
Farmer Mac Guaranteed Securities:
Assets:
Available-for-sale, at fair value	6,947,701	7,143,025
Held-to-maturity, at amortized cost	1,175,792	1,447,451
Total Securities	8,123,493	8,590,476
USDA Securities:
Assets:
Held-to-maturity, at amortized cost	2,473,626	2,232,160
Trading, at fair value	6,695	8,913
Total Securities	$ 2,480,321	$ 2,241,073