CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Interest income:
Investments and cash equivalents	$ 88,879	$ 79,947	$ 258,341	$ 209,429
Farmer Mac Guaranteed Securities and USDA Securities	156,602	161,351	489,478	442,649
Loans	162,247	140,513	459,932	388,837
Total interest income	407,728	381,811	1,207,751	1,040,915
Total interest expense	320,937	294,168	947,252	795,537
Net interest income	86,791	87,643	260,499	245,378
(Provision for)/release of losses	(3,428)	136	(7,806)	(1,484)
Net interest income after (provision for)/release of losses	83,363	87,779	252,693	243,894
Non-interest income/(expense):
Guarantee and commitment fees	4,015	5,520	11,729	12,942
(Losses)/gains on financial derivatives	(1,934)	2,671	(1,654)	4,763
Losses on sale of mortgage loans	0	0	(1,147)	0
Gains on sale of available-for-sale investment securities	0	0	1,052	0
Release of/(provision for) reserve for losses	170	45	188	(227)
Other income	1,418	1,269	3,341	3,253
Non-interest income	3,669	9,505	13,509	20,731
Operating expenses:
Compensation and employee benefits	15,237	14,103	48,334	43,391
General and administrative	8,625	9,100	25,784	26,047
Regulatory fees	725	831	2,175	2,497
Real estate owned operating costs, net	196	0	196	0
Operating expenses	24,783	24,034	76,489	71,935
Income before income taxes	62,249	73,250	189,713	192,690
Income tax expense	12,421	15,113	39,034	40,306
Net income	49,828	58,137	150,679	152,384
Preferred stock dividends	(5,897)	(6,792)	(19,480)	(20,374)
Loss on retirement of preferred stock	(1,619)	0	(1,619)	0
Net income attributable to common stockholders	$ 42,312	$ 51,345	$ 129,580	$ 132,010
Earnings per common share:
Basic earnings per common share (in dollars per share)	$ 3.89	$ 4.74	$ 11.93	$ 12.20
Diluted earnings per common share (in dollars per share)	$ 3.86	$ 4.69	$ 11.82	$ 12.08