CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Interest income:
Investments and cash equivalents	$ 18,660	$ 42,144	$ 81,522
Farmer Mac Guaranteed Securities and USDA Securities	163,547	227,691	333,896
Loans	242,582	233,699	229,675
Total interest income	424,789	503,534	645,093
Total interest expense	204,014	312,946	471,958
Net interest income	220,775	190,588	173,135
Release of/(provision for) losses	860	(7,805)	(3,504)
Net interest income after release of/(provision for) losses	221,635	182,783	169,631
Non-interest income/(expense):
Guarantee and commitment fees	12,669	12,549	13,666
(Losses)/gains on financial derivatives	(3,348)	(246)	5,282
Gain on sale of mortgage loans	6,539	0	0
(Losses)/gains on trading securities	(115)	50	326
Gains/(losses) on sale of available-for-sale investment securities	253	0	(236)
Gains on sale of real estate owned	0	463	0
Release of/(provision for) reserve for losses	1,327	(250)	3
Other income	2,069	3,487	1,904
Non-interest income	19,394	16,053	20,945
Operating expenses:
Compensation and employee benefits	42,847	36,502	28,762
General and administrative	27,507	21,976	20,311
Regulatory fees	3,062	2,925	2,788
Real estate owned operating costs, net	0	0	64
Operating expenses	73,416	61,403	51,925
Income before income taxes	167,613	137,433	138,651
Income tax expense	35,353	28,785	29,105
Net income	132,260	108,648	109,546
Preferred stock dividends	(24,677)	(17,805)	(13,940)
Loss on retirement of preferred stock	0	(1,667)	(1,956)
Net income attributable to common stockholders	$ 107,583	$ 89,176	$ 93,650
Earnings per common share:
Basic earnings per common share (in dollars per share)	$ 10.00	$ 8.31	$ 8.76
Diluted earnings per common share (in dollars per share)	$ 9.92	$ 8.27	$ 8.69