CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Interest income:
Investments and cash equivalents	$ 59,703	$ 5,716
Farmer Mac Guaranteed Securities and USDA Securities	136,537	42,920
Loans	119,032	67,247
Total interest income	315,272	115,883
Total interest expense	236,214	50,345
Net interest income	79,058	65,538
Provision for losses	(547)	(56)
Net interest income after provision for losses	78,511	65,482
Non-interest income/(expense):
Guarantee and commitment fees	3,933	3,695
Gains on financial derivatives	399	16,988
Gains/(losses) on trading securities	25	(63)
(Provision for)/release of reserve for losses	(203)	110
Other income	1,201	675
Non-interest income	5,355	21,405
Operating expenses:
Compensation and employee benefits	15,351	13,298
General and administrative	7,527	7,278
Regulatory fees	835	812
Operating expenses	23,713	21,388
Income before income taxes	60,153	65,499
Income tax expense	13,118	14,046
Net income	47,035	51,453
Preferred stock dividends	(6,791)	(6,791)
Net income attributable to common stockholders	$ 40,244	$ 44,662
Earnings per common share:
Basic earnings per common share (in dollars per share)	$ 3.73	$ 4.15
Diluted earnings per common share (in dollars per share)	$ 3.69	$ 4.10