CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Interest income:
Investments and cash equivalents	$ 84,924	$ 59,703
Farmer Mac Guaranteed Securities and USDA Securities	166,813	136,537
Loans	144,580	119,032
Total interest income	396,317	315,272
Total interest expense	309,949	236,214
Net interest income	86,368	79,058
Release of/(provision for) losses	1,801	(547)
Net interest income after release of/(provision for) losses	88,169	78,511
Non-interest income/(expense):
Guarantee and commitment fees	3,917	3,933
Gains on financial derivatives	2,079	399
Release of/(provision for) reserve for losses	69	(203)
Other income	1,249	1,226
Non-interest income	7,314	5,355
Operating expenses:
Compensation and employee benefits	18,257	15,351
General and administrative	8,255	7,527
Regulatory fees	725	835
Operating expenses	27,237	23,713
Income before income taxes	68,246	60,153
Income tax expense	14,500	13,118
Net income	53,746	47,035
Preferred stock dividends	(6,791)	(6,791)
Net income attributable to common stockholders	$ 46,955	$ 40,244
Earnings per common share:
Basic earnings per common share (in dollars per share)	$ 4.33	$ 3.73
Diluted earnings per common share (in dollars per share)	$ 4.28	$ 3.69