CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Interest income:
Investments and cash equivalents	$ 21,581	$ 4,121	$ 38,497	$ 14,107
Farmer Mac Guaranteed Securities and USDA Securities	74,695	42,339	169,231	127,976
Loans	97,514	61,923	241,393	181,631
Total interest income	193,790	108,383	449,121	323,714
Total interest expense	125,937	49,467	251,816	155,599
Net interest income	67,853	58,916	197,305	168,115
(Provision for)/release of losses	(617)	(366)	699	(518)
Net interest income after (provision for)/release of losses	67,236	58,550	198,004	167,597
Non-interest income/(expense):
Guarantee and commitment fees	2,643	3,155	9,551	9,182
Gains/(losses) on financial derivatives	772	(888)	21,551	2,581
(Losses)/gains on trading securities	(41)	37	(75)	(38)
Gains on sale of available-for-sale investment securities	0	253	0	253
Release of reserve for losses	167	111	440	1,277
Other income	651	582	1,805	1,600
Non-interest income	4,192	3,250	33,272	14,855
Operating expenses:
Compensation and employee benefits	11,648	10,027	36,661	31,601
General and administrative	6,919	6,330	21,717	19,015
Regulatory fees	812	750	2,437	2,250
Operating expenses	19,379	17,107	60,815	52,866
Income before income taxes	52,049	44,693	170,461	129,586
Income tax expense	10,631	9,388	35,735	27,350
Net income	41,418	35,305	134,726	102,236
Preferred stock dividends	(6,791)	(6,774)	(20,374)	(17,885)
Net income attributable to common stockholders	$ 34,627	$ 28,531	$ 114,352	$ 84,351
Earnings per common share:
Basic earnings per common share (in dollars per share)	$ 3.21	$ 2.65	$ 10.61	$ 7.84
Diluted earnings per common share (in dollars per share)	$ 3.18	$ 2.63	$ 10.51	$ 7.79