CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Interest income:
Investments and cash equivalents	$ 345,501	$ 287,144	$ 82,659
Farmer Mac Guaranteed Securities and USDA Securities	628,828	590,250	283,769
Loans	629,187	514,894	350,420
Total interest income	1,603,516	1,392,288	716,848
Total interest expense	1,249,649	1,064,741	445,908
Net interest income	353,867	327,547	270,940
Provision for losses	(11,579)	(858)	(1,323)
Net interest income after provision for losses	342,288	326,689	269,617
Non-interest income/(expense):
Guarantee and commitment fees	15,738	16,712	13,040
Gains on financial derivatives	2,636	2,882	22,631
Losses on sale of mortgage loans	(1,147)	0	0
Gains on sale of available-for-sale investment securities	1,052	0	0
Release of/(provision for) reserve for losses	89	(278)	517
Other income	3,029	4,195	2,500
Non-interest income	21,397	23,511	38,688
Operating expenses:
Compensation and employee benefits	63,975	58,914	48,766
General and administrative	38,236	34,963	29,772
Regulatory fees	3,175	3,222	3,269
Real estate owned operating costs, net	196	0	819
Operating expenses	105,582	97,099	82,626
Income before income taxes	258,103	253,101	225,679
Income tax expense	50,910	53,098	47,535
Net income	207,193	200,003	178,144
Preferred stock dividends	(25,146)	(27,165)	(27,165)
Loss on retirement of preferred stock	(1,619)	0	0
Net income attributable to common stockholders	$ 180,428	$ 172,838	$ 150,979
Earnings per common share:
Basic earnings per common share (in dollars per share)	$ 16.59	$ 15.97	$ 14.00
Diluted earnings per common share (in dollars per share)	$ 16.44	$ 15.81	$ 13.87