CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets:
Cash and cash equivalents	$ 827,600	$ 604,381
Loans:
Loans held for investment, at amortized cost	6,469,997	5,390,977
Loans held for investment in consolidated trusts, at amortized cost	1,436,090	1,600,917
Allowance for losses	(14,939)	(10,454)
Total loans, net of allowance	7,891,148	6,981,440
Financial derivatives, at fair value	16,588	10,519
Interest receivable (includes $17,415 and $20,568, respectively, related to consolidated trusts)	175,659	199,195
Guarantee and commitment fees receivable	36,612	38,442
Deferred tax asset, net	38,790	16,510
Prepaid expenses and other assets	47,035	22,463
Total Assets	23,932,656	21,709,374
Liabilities:
Notes payable	21,421,550	19,098,648
Debt securities of consolidated trusts held by third parties	1,476,964	1,616,504
Financial derivatives, at fair value	47,543	27,042
Accrued interest payable (includes $15,007 and $18,018, respectively, related to consolidated trusts)	100,134	106,959
Guarantee and commitment obligation	35,162	36,700
Accounts payable and accrued expenses	24,167	22,081
Reserve for losses	3,020	2,164
Total Liabilities	23,108,540	20,910,098
Commitments and Contingencies
Common stock:
Additional paid-in capital	120,856	119,304
Accumulated other comprehensive loss, net of tax	(91,497)	(16,161)
Retained earnings	478,647	457,047
Total Equity	824,116	799,276
Total Liabilities and Equity	23,932,656	21,709,374
5.875% Non-Cumulative Preferred Stock, Series A
Preferred stock:
Preferred stock	58,333	58,333
6.000% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series C
Preferred stock:
Preferred stock	73,382	73,382
5.700% Non-Cumulative Preferred Stock, Series D
Preferred stock:
Preferred stock	96,659	96,659
Series E Preferred Stock
Preferred stock:
Preferred stock	77,003	0
Class A voting common stock
Common stock:
Common Stock	1,031	1,031
Common Class B, Voting
Common stock:
Common Stock	500	500
Class C non-voting common stock
Common stock:
Common Stock	9,202	9,181
Debt Securities
Assets:
Available-for-sale, at fair value	3,467,378	2,959,843
Held-to-maturity, at amortized cost	45,032	45,032
Total Securities	3,512,410	3,004,875
Farmer Mac Guaranteed Securities:
Assets:
Available-for-sale, at fair value	7,898,387	7,143,025
Held-to-maturity, at amortized cost	1,140,718	1,447,451
Total Securities	9,039,105	8,590,476
USDA Securities:
Assets:
Held-to-maturity, at amortized cost	2,339,923	2,232,160
Trading, at fair value	7,786	8,913
Total Securities	$ 2,347,709	$ 2,241,073