CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets:
Cash and cash equivalents (includes restricted cash of $16,190 and $5,111, respectively)	$ 1,024,007	$ 888,707
Loans:
Loans held for sale, at lower of cost or fair value	6,170	0
Loans held for investment, at amortized cost	11,183,408	9,623,119
Loans held for investment in consolidated trusts, at amortized cost	2,038,283	1,432,261
Allowance for losses	(23,223)	(16,031)
Total loans, net of allowance	13,204,638	11,039,349
Financial derivatives, at fair value	27,789	37,478
Accrued interest receivable (includes $28,563 and $16,764, respectively, related to consolidated trusts)	310,592	287,128
Guarantee and commitment fees receivable	50,499	49,832
Deferred tax asset, net	1,544	8,470
Prepaid expenses and other assets	128,786	132,954
Total Assets	31,324,742	29,524,382
Liabilities:
Notes payable	27,371,174	26,336,542
Debt securities of consolidated trusts held by third parties	1,929,628	1,351,069
Financial derivatives, at fair value	77,326	117,131
Accrued interest payable (includes $12,387 and $9,407, respectively, related to consolidated trusts)	195,113	181,841
Guarantee and commitment obligation	48,326	47,563
Accounts payable and accrued expenses	212,527	76,662
Reserve for losses	1,622	1,711
Total Liabilities	29,835,716	28,112,519
Commitments and Contingencies (Note 12)
Common stock:
Additional paid-in capital	135,894	132,919
Accumulated other comprehensive loss, net of tax	(12,147)	(40,145)
Retained earnings	943,239	823,716
Total Equity	1,489,026	1,411,863
Total Liabilities and Equity	31,324,742	29,524,382
Series C
Preferred stock:
Preferred stock	0	73,382
Series D
Preferred stock:
Preferred stock	96,659	96,659
Series E
Preferred stock:
Preferred stock	77,003	77,003
Series F
Preferred stock:
Preferred stock	116,160	116,160
Series G
Preferred stock:
Preferred stock	121,327	121,327
Class A voting common stock
Common stock:
Common stock	1,031	1,031
Class B voting common stock
Common stock:
Common stock	500	500
Class C non-voting common stock
Common stock:
Common stock	9,360	9,311
Investment securities
Assets:
Available-for-sale, at fair value	5,953,014	4,918,931
Held-to-maturity, at amortized cost	9,270	53,756
Other investments	11,017	6,817
Total Securities	5,973,301	4,979,504
Farmer Mac Guaranteed Securities
Assets:
Available-for-sale, at fair value	5,514,546	5,532,479
Held-to-maturity, at amortized cost	2,717,688	4,213,069
Total Securities	8,232,234	9,745,548
USDA Securities
Assets:
Trading, at fair value	818	1,241
Held-to-maturity, at amortized cost	2,370,534	2,354,171
Total Securities	$ 2,371,352	$ 2,355,412