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BUSINESS SEGMENT REPORTING (Details)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2024
USD ($)
segment
Sep. 30, 2023
USD ($)
Dec. 31, 2023
USD ($)
Segment Reporting [Abstract]          
Number of operating segments | segment     7    
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income $ 86,791 $ 87,643 $ 260,499 $ 245,378  
Guarantee and commitment fees 4,015 5,520 11,729 12,942  
Gain on sale of investment securities 0 0 1,052 0  
Losses on sale of mortgage loans 0 0 (1,147) 0  
Other income/(expense) (516) 3,940 1,687 8,016  
Total revenues 90,290 97,103 273,820 266,336  
Provision for of losses (3,428) 136 (7,806) (1,484)  
Release of/(provision for) reserve for losses 170 45 188 (227)  
Operating expenses (24,783) (24,034) (76,489) (71,935)  
Total non-interest expense (24,613) (23,989) (76,301) (72,162)  
Core earnings before income taxes 62,249 73,250 189,713 192,690  
Income tax (expense)/benefit (12,421) (15,113) (39,034) (40,306)  
Core earnings before preferred stock dividends 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  
Segment core earnings/(losses) 42,312 51,345 129,580 132,010  
Total Assets 30,615,221 28,311,381 30,615,221 28,311,381 $ 29,524,382
Total on- and off-balance sheet program assets at principal balance 28,468,303 27,652,011 28,468,303 27,652,011  
Reconciling Adjustments          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 0 0 0 0  
Less: reconciling adjustments 1,395 4,219 8,463 2,949  
Net effective spread 1,395 4,219 8,463 2,949  
Guarantee and commitment fees (982) 692 (3,506) (1,121)  
Gain on sale of investment securities 0   0    
Losses on sale of mortgage loans 0   0    
Other income/(expense) (1,649) 2,884 (1,004) 5,484  
Total revenues (1,236) 7,795 3,953 7,312  
Provision for of losses 0 0 0 0  
Release of/(provision for) reserve for losses 0 0 0 0  
Operating expenses 0 0 0 0  
Total non-interest expense 0 0 0 0  
Core earnings before income taxes (1,236) 7,795 3,953 7,312  
Income tax (expense)/benefit 260 (1,638) (830) (1,536)  
Core earnings before preferred stock dividends (976) 6,157 3,123 5,776  
Preferred stock dividends 0 0 0 0  
Loss on retirement of preferred stock (1,619)   (1,619)    
Segment core earnings/(losses) (2,595) 6,157 1,504 5,776  
Total Assets 0 0 0 0  
Total on- and off-balance sheet program assets at principal balance 0 0 $ 0 0  
Agricultural Finance          
Segment Reporting [Abstract]          
Number of operating segments | segment     2    
Segment Reporting Information, Profit (Loss) [Abstract]          
Release of/(provision for) reserve for losses 126 59 $ 154 (593)  
Farm & Ranch | Operating Segments          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 36,816 33,735 106,227 102,671  
Less: reconciling adjustments (1,061) (1,017) (3,473) (3,100)  
Net effective spread 35,755 32,718 102,754 99,571  
Guarantee and commitment fees 4,304 4,447 13,400 12,960  
Gain on sale of investment securities 0   0    
Losses on sale of mortgage loans 0   0    
Other income/(expense) 1,091 807 2,603 2,216  
Total revenues 41,150 37,972 118,757 114,747  
Provision for of losses (116) 13 (888) 136  
Release of/(provision for) reserve for losses 126 58 154 (594)  
Operating expenses (196) 0 (196) 0  
Total non-interest expense (70) 58 (42) (594)  
Core earnings before income taxes 40,964 38,043 117,827 114,289  
Income tax (expense)/benefit (8,602) (7,989) (24,743) (24,001)  
Core earnings before preferred stock dividends 32,362 30,054 93,084 90,288  
Preferred stock dividends 0 0 0 0  
Loss on retirement of preferred stock 0   0    
Segment core earnings/(losses) 32,362 30,054 93,084 90,288  
Total Assets 14,562,142 14,660,371 14,562,142 14,660,371  
Total on- and off-balance sheet program assets at principal balance 18,090,374 18,461,835 18,090,374 18,461,835  
Corporate AgFinance | Operating Segments          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 6,397 8,250 22,234 22,842  
Less: reconciling adjustments 0 0 0 0  
Net effective spread 6,397 8,250 22,234 22,842  
Guarantee and commitment fees 168 78 382 193  
Gain on sale of investment securities 0   0    
Losses on sale of mortgage loans 0   (1,147)    
Other income/(expense) 40 0 47 12  
Total revenues 6,605 8,328 21,516 23,047  
Provision for of losses (1,779) 3,694 (6,755) (934)  
Release of/(provision for) reserve for losses 0 0 0 0  
Operating expenses 0 0 0 0  
Total non-interest expense 0 0 0 0  
Core earnings before income taxes 4,826 12,022 14,761 22,113  
Income tax (expense)/benefit (1,013) (2,525) (3,099) (4,644)  
Core earnings before preferred stock dividends 3,813 9,497 11,662 17,469  
Preferred stock dividends 0 0 0 0  
Loss on retirement of preferred stock 0   0    
Segment core earnings/(losses) 3,813 9,497 11,662 17,469  
Total Assets 1,662,687 1,619,664 1,662,687 1,619,664  
Total on- and off-balance sheet program assets at principal balance 1,842,780 1,741,306 1,842,780 1,741,306  
Rural Infrastructure Finance          
Segment Reporting Information, Profit (Loss) [Abstract]          
Release of/(provision for) reserve for losses 44 (14) 33 366  
Rural  Utilities | Operating Segments          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 7,608 6,393 22,545 17,772  
Less: reconciling adjustments (29) (31) (88) (95)  
Net effective spread 7,579 6,362 22,457 17,677  
Guarantee and commitment fees 338 279 988 841  
Gain on sale of investment securities 0   0    
Losses on sale of mortgage loans 0   0    
Other income/(expense) 0 0 0 0  
Total revenues 7,917 6,641 23,445 18,518  
Provision for of losses (1,195) (3,504) 2,324 (652)  
Release of/(provision for) reserve for losses 44 (13) 34 367  
Operating expenses 0 0 0 0  
Total non-interest expense 44 (13) 34 367  
Core earnings before income taxes 6,766 3,124 25,803 18,233  
Income tax (expense)/benefit (1,421) (656) (5,419) (3,829)  
Core earnings before preferred stock dividends 5,345 2,468 20,384 14,404  
Preferred stock dividends 0 0 0 0  
Loss on retirement of preferred stock 0   0    
Segment core earnings/(losses) 5,345 2,468 20,384 14,404  
Total Assets 6,952,605 6,648,693 6,952,605 6,648,693  
Total on- and off-balance sheet program assets at principal balance 7,440,141 7,118,295 7,440,141 7,118,295  
Renewable Energy | Operating Segments          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 3,810 1,150 8,858 3,108  
Less: reconciling adjustments 0 0 0 0  
Net effective spread 3,810 1,150 8,858 3,108  
Guarantee and commitment fees 187 24 465 69  
Gain on sale of investment securities 0   0    
Losses on sale of mortgage loans 0   0    
Other income/(expense) 0 0 0 0  
Total revenues 3,997 1,174 9,323 3,177  
Provision for of losses (337) (66) (2,488) (38)  
Release of/(provision for) reserve for losses 0 0 0 0  
Operating expenses 0 0 0 0  
Total non-interest expense 0 0 0 0  
Core earnings before income taxes 3,660 1,108 6,835 3,139  
Income tax (expense)/benefit (768) (233) (1,435) (659)  
Core earnings before preferred stock dividends 2,892 875 5,400 2,480  
Preferred stock dividends 0 0 0 0  
Loss on retirement of preferred stock 0   0    
Segment core earnings/(losses) 2,892 875 5,400 2,480  
Total Assets 985,435 320,572 985,435 320,572  
Total on- and off-balance sheet program assets at principal balance 1,095,008 330,575 1,095,008 330,575  
Funding | Operating Segments          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 31,217 37,642 98,556 98,588  
Less: reconciling adjustments (305) (3,230) (4,902) 60  
Net effective spread 30,912 34,412 93,654 98,648  
Guarantee and commitment fees 0 0 0 0  
Gain on sale of investment securities 0   0    
Losses on sale of mortgage loans 0   0    
Other income/(expense) 0 3 0 3  
Total revenues 30,912 34,415 93,654 98,651  
Provision for of losses 0 0 0 0  
Release of/(provision for) reserve for losses 0 0 0 0  
Operating expenses 0 0 0  
Total non-interest expense 0 0 0 0  
Core earnings before income taxes 30,912 34,415 93,654 98,651  
Income tax (expense)/benefit (6,492) (7,226) (19,666) (20,716)  
Core earnings before preferred stock dividends 24,420 27,189 73,988 77,935  
Preferred stock dividends 0 0 0 0  
Loss on retirement of preferred stock 0   0    
Segment core earnings/(losses) 24,420 27,189 73,988 77,935  
Total Assets 0 0 0 0  
Total on- and off-balance sheet program assets at principal balance 0 0 0 0  
Investments | Operating Segments          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 943 473 2,079 397  
Less: reconciling adjustments 0 59 0 186  
Net effective spread 943 532 2,079 583  
Guarantee and commitment fees 0 0 0 0  
Gain on sale of investment securities 0   1,052    
Losses on sale of mortgage loans 0   0    
Other income/(expense) 10 6 21 17  
Total revenues 953 538 3,152 600  
Provision for of losses (1) (1) 1 4  
Release of/(provision for) reserve for losses 0 0 0 0  
Operating expenses 0 0 0 0  
Total non-interest expense 0 0 0 0  
Core earnings before income taxes 952 537 3,153 604  
Income tax (expense)/benefit (201) (113) (664) (127)  
Core earnings before preferred stock dividends 751 424 2,489 477  
Preferred stock dividends 0 0 0 0  
Loss on retirement of preferred stock 0   0    
Segment core earnings/(losses) 751 424 2,489 477  
Total Assets 6,389,160 4,866,969 6,389,160 4,866,969  
Total on- and off-balance sheet program assets at principal balance 0 0 0 0  
Corporate | Operating Segments          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 0 0 0 0  
Less: reconciling adjustments 0 0 0 0  
Net effective spread 0 0 0 0  
Guarantee and commitment fees 0 0 0 0  
Gain on sale of investment securities 0   0    
Losses on sale of mortgage loans 0   0    
Other income/(expense) (8) 240 20 284  
Total revenues (8) 240 20 284  
Provision for of losses 0 0 0 0  
Release of/(provision for) reserve for losses 0 0 0 0  
Operating expenses (24,587) (24,034) (76,293) (71,935)  
Total non-interest expense (24,587) (24,034) (76,293) (71,935)  
Core earnings before income taxes (24,595) (23,794) (76,273) (71,651)  
Income tax (expense)/benefit 5,816 5,267 16,822 15,206  
Core earnings before preferred stock dividends (18,779) (18,527) (59,451) (56,445)  
Preferred stock dividends (5,897) (6,792) (19,480) (20,374)  
Loss on retirement of preferred stock 0   0    
Segment core earnings/(losses) (24,676) (25,319) (78,931) (76,819)  
Total Assets 63,192 195,112 63,192 195,112  
Total on- and off-balance sheet program assets at principal balance $ 0 $ 0 $ 0 $ 0