CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest income:
Investments and cash equivalents	$ 11,200	$ 4,457	$ 16,916	$ 9,986
Farmer Mac Guaranteed Securities and USDA Securities	57,104	42,414	96,361	84,818
Loans	76,632	60,214	143,879	119,708
Total interest income	144,936	107,085	257,156	214,512
Total interest expense	75,534	51,956	125,879	106,132
Net interest income	69,402	55,129	131,277	108,380
Release of/(provision for) losses	1,372	761	1,316	(152)
Net interest income after release of/(provision for) losses	70,774	55,890	132,593	108,228
Non-interest income/(expense):
Guarantee and commitment fees	3,213	2,997	6,908	6,027
Gains/(losses) on financial derivatives	3,418	(3,066)	19,492	1,227
Gains/(losses) on trading securities	29	(62)	(34)	(75)
Release of reserve for losses	163	222	273	1,166
Other income	479	435	1,154	1,018
Non-interest income	7,302	526	27,793	9,363
Operating expenses:
Compensation and employee benefits	11,715	9,779	25,013	21,574
General and administrative	7,520	6,349	14,798	12,685
Regulatory fees	813	750	1,625	1,500
Operating expenses	20,048	16,878	41,436	35,759
Income before income taxes	58,028	39,538	118,950	81,832
Income tax expense	12,132	8,252	25,217	17,319
Net income	45,896	31,286	93,733	64,513
Preferred stock dividends	(6,792)	(5,842)	(13,583)	(11,111)
Net income attributable to common stockholders	$ 39,104	$ 25,444	$ 80,150	$ 53,402
Earnings per common share:
Basic earnings per common share (in dollars per share)	$ 3.62	$ 2.36	$ 7.43	$ 4.96
Diluted earnings per common share (in dollars per share)	$ 3.60	$ 2.35	$ 7.37	$ 4.93