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Business Segment Reporting - Core Earnings - Business Segments (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Segment Reporting Information, Profit (Loss) [Abstract]                      
Net interest income $ 36,713 $ 35,563 $ 34,358 $ 33,640 $ 30,971 $ 32,183 $ 31,864 $ 30,789 $ 140,274 $ 125,807 $ 70,347
Less: reconciling adjustments(1)(2)(3)                 0 [1],[2],[3] 0 [4],[5],[6] 0 [7],[8],[9],[10]
Net Effective Spread                 0 0 0
Guarantee and commitment fees 3,789 3,798 3,655 3,626 3,780 3,532 3,388 3,377 14,868 [3] 14,077 [6] 14,694 [9]
Other income/(expense)(3)(4)                 5,600 [2],[11] 6,064 [5],[12] 18,596 [8],[10],[13]
Non-interest income 19,307 4,101 (234) (2,706) 6,440 (4,981) 18,207 475 20,468 20,141 33,290
(Provision for)/release of loan losses (461) (191) (364) (49) (3,366) 1,164 (110) (76) (1,065) (2,388) 961
Provision for losses                 63 2,180 2,205
Noninterest Expense, Excluding Loan, Lease and Other Losses                 (40,383) (37,662) (33,697)
Non-interest expense (10,977) (9,303) (10,074) (9,966) (5,865) (10,421) (10,853) (8,343) (40,320) [14] (35,482) [15] (31,492) [16]
Income before income taxes 44,582 30,170 23,686 20,919 28,180 17,945 39,108 22,845 119,357 108,078 73,106
Income tax expense (15,793) (10,529) (8,400) (7,335) (9,912) (6,327) (13,769) (4,231) (42,057) (34,239) (2,824)
Net income 28,789 19,641 15,286 13,584 18,268 11,618 25,339 18,614 77,300 73,839 70,282
Preferred Stock Dividends, Income Statement Impact (3,296) (3,295) (3,296) (3,295) (3,296) (3,295) (3,296) (3,295) (13,182) (13,182) (9,839)
Less: Net loss/(income) attributable to non-controlling interest (28) 18 16 28 60 36 119 (5,354) 34 (5,139) (22,192)
Loss on retirement of preferred stock         0 0 0 (8,147) 0 (8,147) 0
Net Income (Loss) Available to Common Stockholders, Basic 25,465 $ 16,364 $ 12,006 $ 10,317 15,032 $ 8,359 $ 22,162 $ 1,818 64,152 47,371 38,251
Segment Reporting Information, Additional Information [Abstract]                      
Assets 15,606,020       15,540,354       15,606,020 15,540,354 14,287,821
On and Off Balance Sheet Program Assets, At Principal Balance 17,399,475       15,898,820       17,399,475 15,898,820 14,597,758
Farm & Ranch [Member]                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Net interest income                 47,219 43,270 36,373
Less: reconciling adjustments(1)(2)(3)                 (6,831) [1],[2],[3] (4,466) [4],[5],[6] (4,550) [7],[8],[9],[10]
Net Effective Spread                 40,388 38,804 31,823
Guarantee and commitment fees                 15,542 [3] 15,076 [6] 15,107 [9]
Other income/(expense)(3)(4)                 539 [2],[11] 1,040 [5],[12] 762 [8],[10],[13]
Non-interest income                 16,081 16,116 15,869
(Provision for)/release of loan losses                 (1,065) (2,388) 961
Provision for losses                 63 2,180 2,205
Noninterest Expense, Excluding Loan, Lease and Other Losses                 (16,206) (16,876) (15,180)
Non-interest expense                 (16,143) [14] (14,696) [15] (12,975) [16]
Segment core earnings before income taxes                 39,261 37,836 35,678
Income tax expense                 (13,743) (13,188) (12,486)
Segment core earnings before preferred stock dividends and attibution of income to non-controlling interest - preferred stock dividends                 25,518 24,648 23,192
Preferred Stock Dividends, Income Statement Impact                 0 0 0
Less: Net loss/(income) attributable to non-controlling interest                 0 0 0
Loss on retirement of preferred stock                   0  
Segment core earnings                 25,518 24,648 23,192
Segment Reporting Information, Additional Information [Abstract]                      
Assets 3,582,098       3,041,386       3,582,098 3,041,386 2,611,401
On and Off Balance Sheet Program Assets, At Principal Balance 6,139,304       5,725,299       6,139,304 5,725,299 5,417,174
USDA Guarantees [Member]                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Net interest income                 21,865 17,751 17,362
Less: reconciling adjustments(1)(2)(3)                 (2,446) [1],[2],[3] 88 [4],[5],[6] 904 [7],[8],[9],[10]
Net Effective Spread                 19,419 17,839 18,266
Guarantee and commitment fees                 101 [3] 17 [6] 134 [9]
Other income/(expense)(3)(4)                 222 [2],[11] 100 [5],[12] 63 [8],[10],[13]
Non-interest income                 323 117 197
(Provision for)/release of loan losses                 0 0 0
Provision for losses                 0 0 0
Noninterest Expense, Excluding Loan, Lease and Other Losses                 (4,200) (3,449) (2,955)
Non-interest expense                 (4,200) [14] (3,449) [15] (2,955) [16]
Segment core earnings before income taxes                 15,542 14,507 15,508
Income tax expense                 (5,439) (5,176) (5,430)
Segment core earnings before preferred stock dividends and attibution of income to non-controlling interest - preferred stock dividends                 10,103 9,331 10,078
Preferred Stock Dividends, Income Statement Impact                 0 0 0
Less: Net loss/(income) attributable to non-controlling interest                 0 0 0
Loss on retirement of preferred stock                   0  
Segment core earnings                 10,103 9,331 10,078
Segment Reporting Information, Additional Information [Abstract]                      
Assets 2,096,503       1,977,609       2,096,503 1,977,609 1,825,210
On and Off Balance Sheet Program Assets, At Principal Balance 2,094,375       1,918,277       2,094,375 1,918,277 1,798,034
Rural Utilities [Member]                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Net interest income                 11,739 11,729 45
Less: reconciling adjustments(1)(2)(3)                 (1,373) [1],[2],[3] (335) [4],[5],[6] 10,696 [7],[8],[9],[10]
Net Effective Spread                 10,366 11,394 10,741
Guarantee and commitment fees                 1,694 [3] 397 [6] 0 [9]
Other income/(expense)(3)(4)                 2 [2],[11] 25 [5],[12] 9 [8],[10],[13]
Non-interest income                 1,696 422 9
(Provision for)/release of loan losses                 0 0 0
Provision for losses                 0 0 0
Noninterest Expense, Excluding Loan, Lease and Other Losses                 (2,856) (3,364) (3,130)
Non-interest expense                 (2,856) [14] (3,364) [15] (3,130) [16]
Segment core earnings before income taxes                 9,206 8,452 7,620
Income tax expense                 (3,223) (2,947) (2,668)
Segment core earnings before preferred stock dividends and attibution of income to non-controlling interest - preferred stock dividends                 5,983 5,505 4,952
Preferred Stock Dividends, Income Statement Impact                 0 0 0
Less: Net loss/(income) attributable to non-controlling interest                 0 0 0
Loss on retirement of preferred stock                   0  
Segment core earnings                 5,983 5,505 4,952
Segment Reporting Information, Additional Information [Abstract]                      
Assets 1,012,014       1,019,279       1,012,014 1,019,279 995,082
On and Off Balance Sheet Program Assets, At Principal Balance 1,878,110       1,530,990       1,878,110 1,530,990 985,609
Institutional Credit [Member]                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Net interest income                 48,756 44,970 41,870
Less: reconciling adjustments(1)(2)(3)                 (3,205) [1],[2],[3] (1,515) [4],[5],[6] (2,814) [7],[8],[9],[10]
Net Effective Spread                 45,551 43,455 39,056
Guarantee and commitment fees                 1,833 [3] 1,665 [6] 1,539 [9]
Other income/(expense)(3)(4)                 0 [2],[11] 0 [5],[12] 0 [8],[10],[13]
Non-interest income                 1,833 1,665 1,539
(Provision for)/release of loan losses                 0 0 0
Provision for losses                 0 0 0
Noninterest Expense, Excluding Loan, Lease and Other Losses                 (3,786) (2,109) (1,891)
Non-interest expense                 (3,786) [14] (2,109) [15] (1,891) [16]
Segment core earnings before income taxes                 43,598 43,011 38,704
Income tax expense                 (15,258) (15,054) (13,548)
Segment core earnings before preferred stock dividends and attibution of income to non-controlling interest - preferred stock dividends                 28,340 27,957 25,156
Preferred Stock Dividends, Income Statement Impact                 0 0 0
Less: Net loss/(income) attributable to non-controlling interest                 0 0 0
Loss on retirement of preferred stock                   0  
Segment core earnings                 28,340 27,957 25,156
Segment Reporting Information, Additional Information [Abstract]                      
Assets 6,008,574       5,420,195       6,008,574 5,420,195 5,459,296
On and Off Balance Sheet Program Assets, At Principal Balance 7,287,686       6,724,254       7,287,686 6,724,254 6,396,941
Corporate Segment [Member]                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Net interest income                 10,695 8,087 (25,303)
Less: reconciling adjustments(1)(2)(3)                 (1,317) [1],[2],[3] (199) [4],[5],[6] 39,110 [7],[8],[9],[10]
Net Effective Spread                 9,378 7,888 13,807
Guarantee and commitment fees                 0 [3] 0 [6] 0 [9]
Other income/(expense)(3)(4)                 (231) [2],[11] (1,972) [5],[12] (4,913) [8],[10],[13]
Non-interest income                 (231) (1,972) (4,913)
(Provision for)/release of loan losses                 0 0 0
Provision for losses                 0 0 0
Noninterest Expense, Excluding Loan, Lease and Other Losses                 (13,335) (11,864) (10,541)
Non-interest expense                 (13,335) [14] (11,864) [15] (10,541) [16]
Segment core earnings before income taxes                 (4,188) (5,948) (1,647)
Income tax expense                 1,185 3,803 23,347
Segment core earnings before preferred stock dividends and attibution of income to non-controlling interest - preferred stock dividends                 (3,003) (2,145) 21,700
Preferred Stock Dividends, Income Statement Impact                 (13,182) (13,182) (9,839)
Less: Net loss/(income) attributable to non-controlling interest                 34 (5,139) (22,192)
Loss on retirement of preferred stock                   0  
Segment core earnings                 (16,151) (20,466) (10,331)
Segment Reporting Information, Additional Information [Abstract]                      
Assets 2,906,831       4,081,885       2,906,831 4,081,885 3,396,832
Segment Reconciling Items [Member]                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Net interest income                 0 0 0
Less: reconciling adjustments(1)(2)(3)                 15,172 [1],[2],[3] 6,427 [4],[5],[6] (43,346) [7],[8],[9],[10]
Net Effective Spread                 15,172 6,427 (43,346)
Guarantee and commitment fees                 (4,302) [3] (3,078) [6] (2,086) [9]
Other income/(expense)(3)(4)                 5,068 [2],[11] 6,871 [5],[12] 22,675 [8],[10],[13]
Non-interest income                 766 3,793 20,589
(Provision for)/release of loan losses                 0 0 0
Provision for losses                 0 0 0
Noninterest Expense, Excluding Loan, Lease and Other Losses                 0 0 0
Non-interest expense                 0 [14] 0 [15] 0 [16]
Segment core earnings before income taxes                 15,938 [17] 10,220 [18] (22,757) [16]
Income tax expense                 (5,579) (1,677) 7,961
Segment core earnings before preferred stock dividends and attibution of income to non-controlling interest - preferred stock dividends                 10,359 [17] 8,543 [18] (14,796) [16]
Preferred Stock Dividends, Income Statement Impact                 0 0 0
Less: Net loss/(income) attributable to non-controlling interest                 0 0 0
Loss on retirement of preferred stock                   (8,147)  
Segment core earnings                 10,359 [17] 396 [18] (14,796) [16]
Segment Reporting Information, Additional Information [Abstract]                      
Assets 0       0       0 0 0
On and Off Balance Sheet Program Assets, At Principal Balance $ 0       $ 0       $ 0 $ 0 $ 0
[1] Excludes the amortization of premiums and discounts on assets consolidated at fair value, originally included in interest income, to reflect core earnings amounts.
[2] Includes the reclassification of interest expense related to interest rate swaps not designated as hedges, which are included in "Gains/(losses) on financial derivatives and hedging activities" on the consolidated financial statements, to determine the effective funding cost for each operating segment.
[3] Includes the reclassification of interest income and interest expense from consolidated trusts owned by third parties to guarantee and commitment fees, to reflect management's view that the net interest income Farmer Mac earns is effectively a guarantee fee.
[4] Excludes the amortization of premiums and discounts on assets consolidated at fair value, originally included in interest income, to reflect core earnings amounts.
[5] Includes the reclassification of interest expense related to interest rate swaps not designated as hedges, which are included in "Gains/(losses) on financial derivatives and hedging activities" on the consolidated financial statements, to determine the effective funding cost for each operating segment.
[6] Includes the reclassification of interest income and interest expense from consolidated trusts owned by third parties to guarantee and commitment fees, to reflect management's view that the net interest income Farmer Mac earns is effectively a guarantee fee.
[7] Excludes the amortization of premiums and discounts on assets consolidated at fair value, originally included in interest income, to reflect core earnings amounts.
[8] Includes the reclassification of interest expense related to interest rate swaps not designated as hedges, which are included in "Gains/(losses) on financial derivatives and hedging activities" on the consolidated financial statements, to determine the effective funding cost for each operating segment.
[9] Includes the reclassification of interest income and interest expense from consolidated trusts owned by third parties to guarantee and commitment fees, to reflect management's view that the net interest income Farmer Mac earns is effectively a guarantee fee.
[10] Includes the reclassification of interest income and interest expense related to securities purchased under agreements to resell and securities sold, not yet purchased, respectively to other income/(expense).
[11] Includes reconciling adjustments for fair value adjustments on financial derivatives and trading assets. Also includes a reconciling adjustment related to the recognition of deferred gains over the estimated lives of certain Farmer Mac Guaranteed Securities and USDA Securities. In 2016 and prior periods, fair value adjustments on financial derivatives included variation margin payment amounts because those amounts were considered to be collateral of the related exposure and were accounted for as unrealized gains or losses. However, effective first quarter 2017, CME implemented a change in its rules related to the exchange of variation margin, whereby variation margin payments will be considered a partial settlement of the respective derivatives contracts rather than as pledged collateral, and accounted for as realized gains and losses. See Note 6 for more information about this rule change. Farmer Mac believes that even though these variation margin amounts will be accounted for as realized gains or losses on financial derivatives and hedging activities as a result of the CME rule change, their economic character will remain the same as they were before the change. The fair value fluctuations related to the exchange of variation margin, whether considered a partial settlement of or the pledge of collateral under a derivatives contract, are not expected to have a cumulative net impact on Farmer Mac's financial condition or results of operations reported in accordance with GAAP because the related financial instruments are expected to be held to maturity. Therefore, beginning in 2017, this reconciling adjustment will include realized gains and losses on financial derivatives centrally cleared through CME resulting from the exchange of variation margin. As a result, core earnings subsequent to 2016 will be presented on a consistent basis with core earnings in 2016 and prior periods.
[12] Includes reconciling adjustments for fair value adjustments on financial derivatives and trading assets. Also includes a reconciling adjustment related to the recognition of deferred gains over the estimated lives of certain Farmer Mac Guaranteed Securities and USDA Securities.
[13] Includes reconciling adjustments for fair value adjustments on financial derivatives and trading assets. Also includes a reconciling adjustment related to the recognition of deferred gains over the estimated lives of certain Farmer Mac Guaranteed Securities and USDA Securities.
[14] Includes directly attributable costs and an allocation of indirectly attributable costs based on headcount.
[15] Includes directly attributable costs and an allocation of indirectly attributable costs based on headcount.
[16] Net adjustments to reconcile to the corresponding income measures: core earnings before income taxes reconciled to income before income taxes; core earnings before preferred stock dividends and attribution of income to non-controlling interest reconciled to net income; and segment core earnings reconciled to net income attributable to common stockholders.
[17] Net adjustments to reconcile to the corresponding income measures: core earnings before income taxes reconciled to income before income taxes; core earnings before preferred stock dividends and attribution of income to non-controlling interest reconciled to net income; and segment core earnings reconciled to net income attributable to common stockholders.
[18] Net adjustments to reconcile to the corresponding income measures: core earnings before income taxes reconciled to income before income taxes; core earnings before preferred stock dividends and attribution of income to non-controlling interest reconciled to net income; and segment core earnings reconciled to net income attributable to common stockholders.