CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Interest income:
Investments and cash equivalents	$ 83,308	$ 84,924
Farmer Mac Guaranteed Securities and USDA Securities	126,342	166,813
Loans	171,764	144,580
Total interest income	381,414	396,317
Total interest expense	290,475	309,949
Net interest income	90,939	86,368
(Provision for)/release of losses	(1,684)	1,801
Net interest income after (provision for)/release of losses	89,255	88,169
Non-interest income/(expense):
Guarantee and commitment fees	4,479	3,917
(Losses)/gains on financial derivatives	(2,636)	2,079
Release of reserve for losses	101	69
Other income	1,436	1,249
Non-interest income	3,380	7,314
Operating expenses:
Compensation and employee benefits	17,752	18,257
General and administrative	10,758	8,255
Regulatory fees	1,000	725
Operating expenses	29,510	27,237
Income before income taxes	63,125	68,246
Income tax expense	13,474	14,500
Net income	49,651	53,746
Preferred stock dividends	(5,666)	(6,791)
Net income attributable to common stockholders	$ 43,985	$ 46,955
Earnings per common share:
Basic earnings per common share (in dollars per share)	$ 4.04	$ 4.33
Diluted earnings per common share (in dollars per share)	$ 4.01	$ 4.28