CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interest income:
Investments and cash equivalents	$ 82,659	$ 18,660	$ 42,144
Farmer Mac Guaranteed Securities and USDA Securities	283,769	164,723	232,951
Loans	350,420	242,582	233,699
Total interest income	716,848	425,965	508,794
Total interest expense	445,908	204,014	312,946
Net interest income	270,940	221,951	195,848
(Provision for)/release of losses	(1,323)	860	(7,805)
Net interest income after (provision for)/release of losses	269,617	222,811	188,043
Non-interest income/(expense):
Guarantee and commitment fees	13,040	12,669	12,549
Gains on financial derivatives	22,631	324	1,744
Gain on the sale of mortgage loans	0	6,539	0
(Losses)/gains on trading securities	(51)	(115)	50
Gains on sale of available-for-sale investment securities	0	253	0
Gain on sale of real estate owned	0	0	463
Release of/(provision for) reserve for losses	517	1,327	(250)
Other income	2,551	2,069	3,487
Non-interest income	38,688	23,066	18,043
Operating expenses:
Compensation and employee benefits	48,766	42,847	36,502
General and administrative	29,772	27,507	21,976
Regulatory fees	3,269	3,062	2,925
Real estate owned operating costs, net	819	0	0
Operating expenses	82,626	73,416	61,403
Income before income taxes	225,679	172,461	144,683
Income tax expense	47,535	36,372	30,307
Net income	178,144	136,089	114,376
Preferred stock dividends	(27,165)	(24,677)	(17,805)
Loss on retirement of preferred stock	0	0	(1,667)
Net income attributable to common stockholders	$ 150,979	$ 111,412	$ 94,904
Earnings per common share:
Basic earnings per common share (in dollars per share)	$ 14.00	$ 10.36	$ 8.85
Diluted earnings per common share (in dollars per share)	$ 13.87	$ 10.27	$ 8.80