XML 91 R78.htm IDEA: XBRL DOCUMENT v3.20.2
Business Segment Reporting - Core Earnings - Business Segments (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Jun. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Segment Reporting Information, Profit (Loss) [Abstract]            
Net interest income $ 44,661 $ 40,112   $ 134,321 $ 123,765  
Less: reconciling adjustments 0 0   0 0  
Net effective spread 0 0   0 0  
Guarantee and commitment fees 3,159 3,349   9,495 10,265  
Other income/(expense) (228) (6,781)   (388) 2,725  
Non-interest income/(loss) 2,931 (3,432)   9,107 12,990  
Release of/(provision for) losses (653) (760)   (4,542) (1,074)  
(Provision for)/release of reserve for losses (547) 137   (540) 424  
Other non-interest expense (14,560) (13,595)   (44,882) (38,695)  
Non-interest expense (15,107) (13,458)   (45,422) (38,271)  
Core earnings before income taxes 31,832 22,462   93,464 97,410  
Income tax (expense)/benefit (6,340) (4,629)   (19,516) (20,362)  
Core earnings before preferred stock dividends 25,492 17,833   73,948 77,048  
Preferred stock dividends (5,166) (3,427)   (12,536) (10,508)  
Loss on retirement of preferred stock (1,667) 0 $ (1,956) (1,667) (1,956)  
Segment core earnings/(losses) 18,659 14,406   59,745 64,584  
Total assets at carrying value 23,998,837 21,315,234   23,998,837 21,315,234 $ 21,709,374
Total on- and off-balance sheet program assets at principal balance 21,989,288 20,932,359   21,989,288 20,932,359  
Corporate            
Segment Reporting Information, Profit (Loss) [Abstract]            
Net interest income 1,941 2,821   5,025 8,607  
Less: reconciling adjustments 431 (164)   74 (900)  
Net effective spread 2,372 2,657   5,099 7,707  
Guarantee and commitment fees 0 0   0 0  
Other income/(expense) (125) (110)   (413) 494  
Non-interest income/(loss) (125) (110)   (413) 494  
Release of/(provision for) losses 1 0   (28) 0  
(Provision for)/release of reserve for losses 0 0   0 0  
Other non-interest expense (3,938) (3,837)   (12,171) (10,903)  
Non-interest expense (3,938) (3,837)   (12,171) (10,903)  
Core earnings before income taxes (1,690) (1,290)   (7,513) (2,702)  
Income tax (expense)/benefit 701 360   1,689 663  
Core earnings before preferred stock dividends (989) (930)   (5,824) (2,039)  
Preferred stock dividends (5,166) (3,427)   (12,536) (10,508)  
Loss on retirement of preferred stock 0       0  
Segment core earnings/(losses) (6,155) (4,357)   (18,360) (12,547)  
Total assets at carrying value 4,576,909 3,797,690   4,576,909 3,797,690  
Total on- and off-balance sheet program assets at principal balance 0 0   0 0  
Reconciling Adjustments            
Segment Reporting Information, Profit (Loss) [Abstract]            
Net interest income 0 0   0 0  
Less: reconciling adjustments (7,141) (2,349)   (8,113) 1,148  
Net effective spread (7,141) (2,349)   (8,113) 1,148  
Guarantee and commitment fees (1,500) (1,859)   (5,003) (5,638)  
Other income/(expense) (681) (7,170)   (3,048) 1,050  
Non-interest income/(loss) (2,181) (9,029)   (8,051) (4,588)  
Release of/(provision for) losses 0 0   0 0  
(Provision for)/release of reserve for losses 0 0   0 0  
Other non-interest expense 0 0   0 0  
Non-interest expense 0 0   0 0  
Core earnings before income taxes (9,322) (11,378)   (16,164) (3,440)  
Income tax (expense)/benefit 1,957 2,389   3,395 722  
Core earnings before preferred stock dividends (7,365) (8,989)   (12,769) (2,718)  
Preferred stock dividends 0 0   0 0  
Loss on retirement of preferred stock (1,667)       (1,956)  
Segment core earnings/(losses) (9,032) (8,989)   (14,436) (4,674)  
Total assets at carrying value 0 0   0 0  
Total on- and off-balance sheet program assets at principal balance 0 0   0 0  
Farm & Ranch            
Segment Reporting Information, Profit (Loss) [Abstract]            
Release of/(provision for) losses 300 (760)   412 (1,074)  
(Provision for)/release of reserve for losses (628) 137   (262) 424  
Farm & Ranch | Operating Segments            
Segment Reporting Information, Profit (Loss) [Abstract]            
Net interest income 18,093 15,345   53,768 46,424  
Less: reconciling adjustments (68) (2,164)   (4,072) (7,171)  
Net effective spread 18,025 13,181   49,696 39,253  
Guarantee and commitment fees 4,111 4,523   12,822 13,861  
Other income/(expense) 443 390   2,197 1,058  
Non-interest income/(loss) 4,554 4,913   15,019 14,919  
Release of/(provision for) losses 300 (760)   412 (1,074)  
(Provision for)/release of reserve for losses (628) 137   (262) 424  
Other non-interest expense (5,381) (5,062)   (16,632) (14,448)  
Non-interest expense (6,009) (4,925)   (16,894) (14,024)  
Core earnings before income taxes 16,870 12,409   48,233 39,074  
Income tax (expense)/benefit (3,543) (2,606)   (10,129) (8,206)  
Core earnings before preferred stock dividends 13,327 9,803   38,104 30,868  
Preferred stock dividends 0 0   0 0  
Loss on retirement of preferred stock 0       0  
Segment core earnings/(losses) 13,327 9,803   38,104 30,868  
Total assets at carrying value 5,961,307 4,934,887   5,961,307 4,934,887  
Total on- and off-balance sheet program assets at principal balance 8,249,349 7,393,728   8,249,349 7,393,728  
USDA Guarantees | Operating Segments            
Segment Reporting Information, Profit (Loss) [Abstract]            
Net interest income 4,747 4,491   14,691 13,045  
Less: reconciling adjustments 1,118 (177)   488 (670)  
Net effective spread 5,865 4,314   15,179 12,375  
Guarantee and commitment fees 213 250   658 712  
Other income/(expense) 135 92   864 92  
Non-interest income/(loss) 348 342   1,522 804  
Release of/(provision for) losses 0 0   0 0  
(Provision for)/release of reserve for losses 0 0   0 0  
Other non-interest expense (1,643) (1,506)   (5,045) (4,279)  
Non-interest expense (1,643) (1,506)   (5,045) (4,279)  
Core earnings before income taxes 4,570 3,150   11,656 8,900  
Income tax (expense)/benefit (960) (662)   (2,448) (1,870)  
Core earnings before preferred stock dividends 3,610 2,488   9,208 7,030  
Preferred stock dividends 0 0   0 0  
Loss on retirement of preferred stock 0       0  
Segment core earnings/(losses) 3,610 2,488   9,208 7,030  
Total assets at carrying value 2,487,687 2,238,558   2,487,687 2,238,558  
Total on- and off-balance sheet program assets at principal balance 2,735,128 2,567,763   2,735,128 2,567,763  
Rural  Utilities            
Segment Reporting Information, Profit (Loss) [Abstract]            
Release of/(provision for) losses (1,182) 0   (4,704) 0  
(Provision for)/release of reserve for losses 80 0   (279) 0  
Rural  Utilities | Operating Segments            
Segment Reporting Information, Profit (Loss) [Abstract]            
Net interest income 5,709 2,602   12,778 6,264  
Less: reconciling adjustments 1,230 1,900   4,597 5,467  
Net effective spread 6,939 4,502   17,375 11,731  
Guarantee and commitment fees 328 348   995 1,069  
Other income/(expense) 0 17   12 31  
Non-interest income/(loss) 328 365   1,007 1,100  
Release of/(provision for) losses (1,182) 0   (4,704) 0  
(Provision for)/release of reserve for losses 81 0   (278) 0  
Other non-interest expense (1,438) (913)   (4,428) (2,595)  
Non-interest expense (1,357) (913)   (4,706) (2,595)  
Core earnings before income taxes 4,728 3,954   8,972 10,236  
Income tax (expense)/benefit (993) (830)   (1,884) (2,149)  
Core earnings before preferred stock dividends 3,735 3,124   7,088 8,087  
Preferred stock dividends 0 0   0 0  
Loss on retirement of preferred stock 0       0  
Segment core earnings/(losses) 3,735 3,124   7,088 8,087  
Total assets at carrying value 2,256,011 1,692,835   2,256,011 1,692,835  
Total on- and off-balance sheet program assets at principal balance 2,685,309 2,232,602   2,685,309 2,232,602  
Institutional Credit | Operating Segments            
Segment Reporting Information, Profit (Loss) [Abstract]            
Net interest income 14,171 14,853   48,059 49,425  
Less: reconciling adjustments 4,430 2,954   7,026 2,126  
Net effective spread 18,601 17,807   55,085 51,551  
Guarantee and commitment fees 7 87   23 261  
Other income/(expense) 0 0   0 0  
Non-interest income/(loss) 7 87   23 261  
Release of/(provision for) losses 228 0   (222) 0  
(Provision for)/release of reserve for losses 0 0   0 0  
Other non-interest expense (2,160) (2,277)   (6,606) (6,470)  
Non-interest expense (2,160) (2,277)   (6,606) (6,470)  
Core earnings before income taxes 16,676 15,617   48,280 45,342  
Income tax (expense)/benefit (3,502) (3,280)   (10,139) (9,522)  
Core earnings before preferred stock dividends 13,174 12,337   38,141 35,820  
Preferred stock dividends 0 0   0 0  
Loss on retirement of preferred stock 0       0  
Segment core earnings/(losses) 13,174 12,337   38,141 35,820  
Total assets at carrying value 8,716,923 8,651,264   8,716,923 8,651,264  
Total on- and off-balance sheet program assets at principal balance $ 8,319,502 $ 8,738,266   $ 8,319,502 $ 8,738,266