CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest income:
Investments and cash equivalents	$ 84,538	$ 69,779	$ 169,462	$ 129,482
Farmer Mac Guaranteed Securities and USDA Securities	166,063	144,761	332,876	281,298
Loans	153,105	129,292	297,685	248,324
Total interest income	403,706	343,832	800,023	659,104
Total interest expense	316,366	265,155	626,315	501,369
Net interest income	87,340	78,677	173,708	157,735
Provision for losses	(6,179)	(1,073)	(4,378)	(1,620)
Net interest income after provision for losses	81,161	77,604	169,330	156,115
Non-interest income/(expense):
Guarantee and commitment fees	3,797	3,489	7,714	7,422
(Losses)/gains on financial derivatives	(1,799)	1,693	280	2,092
Losses on sale of mortgage loans	(1,147)	0	(1,147)	0
Gains on sale of available-for-sale investment securities	1,052	0	1,052	0
(Provision for)/release of reserve for losses	(51)	(69)	18	(272)
Other income	674	758	1,923	1,984
Non-interest income	2,526	5,871	9,840	11,226
Operating expenses:
Compensation and employee benefits	14,840	13,937	33,097	29,288
General and administrative	8,904	9,420	17,159	16,947
Regulatory fees	725	831	1,450	1,666
Operating expenses	24,469	24,188	51,706	47,901
Income before income taxes	59,218	59,287	127,464	119,440
Income tax expense	12,113	12,075	26,613	25,193
Net income	47,105	47,212	100,851	94,247
Preferred stock dividends	(6,792)	(6,791)	(13,583)	(13,582)
Net income attributable to common stockholders	$ 40,313	$ 40,421	$ 87,268	$ 80,665
Earnings per common share:
Basic earnings per common share (in dollars per share)	$ 3.71	$ 3.73	$ 8.04	$ 7.46
Diluted earnings per common share (in dollars per share)	$ 3.68	$ 3.70	$ 7.96	$ 7.39