Federal Agricultural Mortgage (AGM) 10-Q 2 May 19 2019 Q1 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	3 Months Ended
	Mar. 31, 2019	Apr. 25, 2019
Entity Information [Line Items]
Entity Registrant Name	FEDERAL AGRICULTURAL MORTGAGE CORP
Entity Central Index Key	0000845877
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Trading Symbol	AGM
Entity Small Business	false
Entity Emerging Growth Company	false
Common Class A, Voting [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		1,030,780
Common Class B, Voting [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		500,301
Common Class C, Non-Voting [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		9,167,448

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Assets:
Cash and cash equivalents	$ 376,122	$ 425,256
Loans:
Loans held for investment, at amortized cost	4,480,511	4,004,968
Loans held for investment in consolidated trusts, at amortized cost	1,566,330	1,517,101
Allowance for loan losses	(6,753)	(7,017)
Total loans, net of allowance	6,040,088	5,515,052
Real estate owned, at lower of cost or fair value	1,253	128
Financial derivatives, at fair value	6,053	7,487
Interest receivable (includes $11,727 and $19,783, respectively, related to consolidated trusts)	143,877	180,080
Guarantee and commitment fees receivable	39,913	40,366
Deferred tax asset, net	3,994	6,369
Prepaid expenses and other assets	66,629	9,418
Total Assets	19,797,777	18,694,328
Notes payable:
Due within one year	8,571,615	7,757,050
Due after one year	8,679,287	8,486,647
Total notes payable	17,250,902	16,243,697
Debt securities of consolidated trusts held by third parties	1,567,195	1,528,957
(Liability)	22,203	19,633
Accrued interest payable (includes $9,647 and $17,125, respectively, related to consolidated trusts)	94,420	96,743
Guarantee and commitment obligation	38,288	38,683
Accounts payable and accrued expenses	59,433	11,891
Reserve for losses	2,038	2,167
Total Liabilities	19,034,479	17,941,771
Commitments and Contingencies (Note 6)
Common stock:
Additional paid-in capital	118,841	118,822
Accumulated other comprehensive income, net of tax	21,254	24,956
Retained earnings	407,755	393,351
Total Equity	763,298	752,557
Total Liabilities and Equity	19,797,777	18,694,328
Series A Preferred Stock [Member]
Preferred stock:
Preferred stock	58,333	58,333
Series B Preferred Stock [Member]
Preferred stock:
Preferred stock	73,044	73,044
Series C Preferred Stock [Member]
Preferred stock:
Preferred stock	73,382	73,382
Common Class A, Voting [Member]
Common stock:
Common Stock	1,031	1,031
Common Class B, Voting [Member]
Common stock:
Common Stock	500	500
Common Class C, Non-Voting [Member]
Common stock:
Common Stock	9,158	9,138
Investment Securities [Member]
Assets:
Available-for-sale, at fair value	2,457,978	2,217,852
Held-to-maturity, at amortized cost	45,032	45,032
Total Securities	2,503,010	2,262,884
Farmer Mac Guaranteed Securities [Member]
Assets:
Available-for-sale, at fair value	6,441,624	5,974,497
Held-to-maturity, at amortized cost	2,040,415	2,096,618
Total Securities	8,482,039	8,071,115
USDA Securities [Member]
Assets:
Held-to-maturity, at amortized cost	2,125,312	2,166,174
Trading, at fair value	9,487	9,999
Total Securities	$ 2,134,799	$ 2,176,173

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Interest receivable - Consolidated Trusts amount	$ 143,877	$ 180,080
Accrued interest payable - Consolidated Trusts amount	$ 94,420	$ 96,743
Series A Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 25	$ 25
Preferred stock, shares authorized (in shares)	2,400,000	2,400,000
Preferred stock, shares issued (in shares)	2,400,000	2,400,000
Preferred stock, shares outstanding (in shares)	2,400,000	2,400,000
Series B Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 25	$ 25
Preferred stock, shares authorized (in shares)	3,000,000	3,000,000
Preferred stock, shares issued (in shares)	3,000,000	3,000,000
Preferred stock, shares outstanding (in shares)	3,000,000	3,000,000
Series C Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 25	$ 25
Preferred stock, shares authorized (in shares)	3,000,000	3,000,000
Preferred stock, shares issued (in shares)	3,000,000	3,000,000
Preferred stock, shares outstanding (in shares)	3,000,000	3,000,000
Common Class A, Voting [Member]
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares outstanding (in shares)	1,030,780	1,030,780
Common Class B, Voting [Member]
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares outstanding (in shares)	500,301	500,301
Common Class C, Non-Voting [Member]
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares outstanding (in shares)	9,157,841	9,087,670
Variable Interest Entity, Primary Beneficiary [Member]
Interest receivable - Consolidated Trusts amount	$ 11,727	$ 17,373
Accrued interest payable - Consolidated Trusts amount	$ 9,647	$ 14,631

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Interest income:
Investments and cash equivalents	$ 18,707	$ 11,463
Farmer Mac Guaranteed Securities and USDA Securities	85,411	62,430
Loans	51,397	45,653
Total interest income	155,515	119,546
Total interest expense	114,916	76,317
Net interest income	40,599	43,229
Release of loan losses	264	431
Net interest income after release of loan losses	40,863	43,660
Non-interest income:
Guarantee and commitment fees	3,513	3,499
Losses on financial derivatives	(360)	(3,850)
Gains on trading securities	44	16
Other income	493	574
Non-interest income	3,690	239
Non-interest expense:
Compensation and employee benefits	7,606	6,654
General and administrative	4,596	4,326
Regulatory fees	688	625
Real estate owned operating costs, net	0	16
(Release of)/provision for reserve for losses	(129)	21
Non-interest expense	12,761	11,642
Income before income taxes	31,792	32,257
Income tax expense	6,622	6,438
Net income attributable to Farmer Mac	25,170	25,819
Preferred stock dividends	(3,296)	(3,295)
Net income attributable to common stockholders	$ 21,874	$ 22,524
Earnings per common share:
Basic earnings per common share (in dollars per share)	$ 2.05	$ 2.12
Diluted earnings per common share (in dollars per share)	$ 2.03	$ 2.10

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 25,170	$ 25,819
Other comprehensive income before taxes:
Net unrealized gains on available-for-sale securities	3,241	21,228
Net changes in held-to-maturity securities	(2,262)	(1,310)
Net unrealized (losses)/gains on cash flow hedges	(5,665)	6,663
Other comprehensive (loss)/income before tax	(4,686)	26,581
Income tax benefit/(expense) related to other comprehensive (loss)/income	984	(5,582)
Other comprehensive (loss)/income net of tax	(3,702)	20,999
Comprehensive income attributable to Farmer Mac	$ 21,468	$ 46,818

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Class C, Non-Voting [Member]	Preferred Stock [Member]	Common Stock [Member]	Common Stock [Member]Common Class C, Non-Voting [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member]Common Class C, Non-Voting [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]
Beginning balance ( in shares) at Dec. 31, 2017			8,400	10,619
Beginning balance at Dec. 31, 2017	$ 708,146		$ 204,759	$ 10,619		$ 118,979		$ 51,085	$ 322,704
Net income:
Attributable to Farmer Mac	25,819								25,819
Other comprehensive income (loss), net of tax	20,999							20,999
Preferred stock	(3,295)								(3,295)
Common stock	(6,161)								(6,161)
Issuance of Class C Common Stock (in shares)					31
Issuance of Class C Common Stock		$ 34			$ 31		$ 3
Stock-based compensation cost	664					664
Other stock-based award activity	(1,438)					(1,438)
Ending balance (in shares) at Mar. 31, 2018			8,400	10,650
Ending balance at Mar. 31, 2018	745,266		$ 204,759	$ 10,650		118,208		72,111	339,538
Beginning balance ( in shares) at Dec. 31, 2018			8,400	10,669
Beginning balance at Dec. 31, 2018	752,557		$ 204,759	$ 10,669		118,822		24,956	393,351
Net income:
Attributable to Farmer Mac	25,170								25,170
Other comprehensive income (loss), net of tax	(3,702)							(3,702)
Preferred stock	(3,296)								(3,296)
Common stock	(7,470)								(7,470)
Issuance of Class C Common Stock (in shares)					20
Issuance of Class C Common Stock		$ 23			$ 20		$ 3
Stock-based compensation cost	724					724
Other stock-based award activity	(708)					(708)
Ending balance (in shares) at Mar. 31, 2019			8,400	10,689
Ending balance at Mar. 31, 2019	$ 763,298		$ 204,759	$ 10,689		$ 118,841		$ 21,254	$ 407,755

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Common stock dividends per common share (in dollars per share)	$ 0.70	$ 0.58

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net income	$ 25,170	$ 25,819
Adjustments to reconcile net income to net cash provided by operating activities:
Net amortization of deferred gains, premiums, and discounts on loans, investments, Farmer Mac Guaranteed Securities, and USDA Securities	(2,204)	309
Amortization of debt premiums, discounts and issuance costs	10,826	6,008
Net change in fair value of trading securities, hedged assets, and financial derivatives	(69,096)	19,174
Total release for losses	(393)	(410)
Excess tax benefits related to stock-based awards	127	440
Deferred income taxes	2,902	(161)
Stock-based compensation expense	724	664
Proceeds from repayment of loans purchased as held for sale	18,671	34,699
Net change in:
Interest receivable	36,204	41,219
Guarantee and commitment fees receivable	58	(15)
Other assets	(5,674)	(11,973)
Accrued interest payable	(2,323)	(4,054)
Other liabilities	3,528	6,111
Net cash provided by operating activities	18,520	117,830
Cash flows from investing activities:
Purchases of loans held for investment	(748,553)	(267,756)
Proceeds from repayment of loans purchased as held for investment	222,980	191,298
Proceeds from sale of Farmer Mac Guaranteed Securities	116,708	131,202
Net cash used by investing activities	(980,122)	(383,276)
Cash flows from financing activities:
Payments to third parties on debt securities of consolidated trusts	(64,263)	(38,918)
Proceeds from common stock issuance	3	3
Tax payments related to share-based awards	(688)	(1,407)
Dividends paid on common and preferred stock	(10,766)	(9,457)
Net cash provided by financing activities	912,468	456,682
Net change in cash and cash equivalents	(49,134)	191,236
Cash and cash equivalents at beginning of period	425,256	302,022
Cash and cash equivalents at end of period	376,122	493,258
Non-cash activity:
Loans acquired and securitized as Farmer Mac Guaranteed Securities	116,708	131,202
Consolidation of Farmer Mac Guaranteed Securities from off-balance sheet to loans held for investment in consolidated trusts and to debt securities of consolidated trusts held by third parties	97,780	96,909
Reclassification of defaulted loans from loans held for investment in consolidated trusts to loans held for investment (Table 6.2)	4,721	721
Maturity of investment security - not yet settled	(40,310)	0
Purchases of securities - traded, not yet settled	35,100	5,640
Medium-term Notes [Member]
Cash flows from financing activities:
Proceeds from issuance of discount notes and medium-term notes	2,124,252	2,060,844
Payments to redeem notes	(1,311,954)	(1,200,936)
Notes Payable to Banks [Member]
Cash flows from financing activities:
Proceeds from issuance of discount notes and medium-term notes	12,773,401	10,587,657
Payments to redeem notes	(12,597,517)	(10,941,104)
Investment Securities [Member]
Cash flows from investing activities:
Purchases of securities	(473,326)	(242,677)
Proceeds from repayment of securities	205,240	263,621
Farmer Mac Guaranteed Securities and USDA Securities [Member]
Cash flows from investing activities:
Purchases of securities	(857,511)	(931,199)
Proceeds from repayment of securities	$ 554,340	$ 472,235

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The interim unaudited consolidated financial statements of the Federal Agricultural Mortgage Corporation ("Farmer Mac") and subsidiaries have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). These interim unaudited consolidated financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary to present a fair statement of the financial position and the results of operations and cash flows of Farmer Mac and subsidiaries for the interim periods presented. Certain information and footnote disclosures normally included in the annual consolidated financial statements have been omitted as permitted by SEC rules and regulations. The December 31, 2018 consolidated balance sheet presented in this report has been derived from Farmer Mac's audited 2018 consolidated financial statements. Management believes that the disclosures are adequate to present fairly the consolidated financial statements as of the dates and for the periods presented. These interim unaudited consolidated financial statements should be read in conjunction with the 2018 consolidated financial statements of Farmer Mac and subsidiaries included in Farmer Mac's Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC on February 21, 2019. Results for interim periods are not necessarily indicative of those that may be expected for the fiscal year. Presented below are Farmer Mac's significant accounting policies that contain updated information for the three months ended March 31, 2019 . Principles of Consolidation The consolidated financial statements include the accounts of Farmer Mac and its two subsidiaries during the year: (1) Farmer Mac Mortgage Securities Corporation ("FMMSC"), whose principal activities are to facilitate the purchase and issuance of Farmer Mac Guaranteed Securities; and (2) Farmer Mac II LLC, whose principal activity is the operation of substantially all of the business related to the USDA Guarantees line of business – primarily the acquisition of USDA Securities. The consolidated financial statements also include the accounts of Variable Interest Entities ("VIEs") in which Farmer Mac determined itself to be the primary beneficiary. The following tables present, by line of business, details about the consolidation of VIEs: Table 1.1 Consolidation of Variable Interest Entities As of March 31, 2019 Farm & Ranch USDA Guarantees Rural Utilities Institutional Credit Corporate Total (in thousands) On-Balance Sheet: Consolidated VIEs: Loans held for investment in consolidated trusts, at amortized cost $ 1,566,330 $ — $ — $ — $ — $ 1,566,330 Debt securities of consolidated trusts held by third parties (1) 1,567,195 — — — — 1,567,195 Unconsolidated VIEs: Farmer Mac Guaranteed Securities: Carrying value (2) — 27,031 — — — 27,031 Maximum exposure to loss (3) — 26,794 — — — 26,794 Investment securities: Carrying value (4) — — — — 1,026,064 1,026,064 Maximum exposure to loss (3) (4) — — — — 1,030,108 1,030,108 Off-Balance Sheet: Unconsolidated VIEs: Farmer Mac Guaranteed Securities: Maximum exposure to loss (3) (5) 128,221 376,487 — — — 504,708 (1) Includes borrower remittances of $0.9 million . The borrower remittances had not been passed through to third party investors as of March 31, 2019 . (2) Includes $0.2 million of unamortized premiums and discounts and fair value adjustments related to the USDA Guarantees line of business. (3) Farmer Mac uses unpaid principal balance and outstanding face amount of investment securities to represent maximum exposure to loss. (4) Includes auction-rate certificates, asset-backed securities, and government-sponsored enterprise ("GSE")-guaranteed mortgage-backed securities. (5) The amount under the Farm & Ranch line of business relates to unconsolidated trusts where Farmer Mac determined it was not the primary beneficiary due to shared power with an unrelated party. Consolidation of Variable Interest Entities As of December 31, 2018 Farm & Ranch USDA Guarantees Rural Utilities Institutional Credit Corporate Total (in thousands) On-Balance Sheet: Consolidated VIEs: Loans held for investment in consolidated trusts, at amortized cost $ 1,517,101 $ — $ — $ — $ — $ 1,517,101 Debt securities of consolidated trusts held by third parties (1) 1,528,957 — — — — 1,528,957 Unconsolidated VIEs: Farmer Mac Guaranteed Securities: Carrying value (2) — 27,627 — — — 27,627 Maximum exposure to loss (3) — 27,383 — — — 27,383 Investment securities: Carrying value (4) — — — — 1,000,942 1,000,942 Maximum exposure to loss (3) (4) — — — — 1,003,968 1,003,968 Off-Balance Sheet: Unconsolidated VIEs: Farmer Mac Guaranteed Securities: Maximum exposure to loss (3) (5) 135,862 367,684 — — — 503,546 (1) Includes borrower remittances of $11.9 million . The borrower remittances had not been passed through to third party investors as of December 31, 2018 . (2) Includes $0.2 million of unamortized premiums and discounts and fair value adjustments related to the USDA Guarantees line of business. (3) Farmer Mac uses unpaid principal balance and outstanding face amount of investment securities to represent maximum exposure to loss. (4) Includes auction-rate certificates, asset-backed securities, and government-sponsored enterprise ("GSE")-guaranteed mortgage-backed securities. (5) The amount under the Farm & Ranch line of business relates to unconsolidated trusts where Farmer Mac determined it was not the primary beneficiary due to shared power with an unrelated party. Earnings Per Common Share Basic earnings per common share ("EPS") is based on the weighted-average number of shares of common stock outstanding. Diluted earnings per common share is based on the weighted-average number of shares of common stock outstanding adjusted to include all potentially dilutive stock appreciation rights ("SARs") and unvested restricted stock awards. The following schedule reconciles basic and diluted EPS for the three months ended March 31, 2019 and 2018: Table 1.2 For the Three Months Ended March 31, 2019 March 31, 2018 Net Weighted-Average Shares $ per Net Weighted-Average Shares $ per (in thousands, except per share amounts) Basic EPS Net income attributable to common stockholders $ 21,874 10,670 $ 2.05 $ 22,524 10,622 $ 2.12 Effect of dilutive securities (1) SARs and restricted stock — 107 (0.02 ) — 119 (0.02 ) Diluted EPS $ 21,874 10,777 $ 2.03 $ 22,524 10,741 $ 2.10 (1) For the three months ended March 31, 2019 and 2018, SARs and restricted stock of 56,976 and 25,062 , respectively, were outstanding but not included in the computation of diluted earnings per share of common stock because they were anti-dilutive. For the three months ended March 31, 2019 and 2018, contingent shares of unvested restricted stock of 12,284 and 13,138 , respectively, were outstanding but not included in the computation of diluted earnings per share of common stock because performance conditions had not yet been met. Comprehensive Income Comprehensive income represents all changes in stockholders' equity except those resulting from investments by or distributions to stockholders, and is comprised of net income and unrealized gains and losses on available-for-sale securities, certain held-to-maturity securities transferred from the available-for-sale classification, and cash flow hedges, net of related taxes. The following table presents the changes in accumulated other comprehensive income ("AOCI"), net of tax, by component for the three months ended March 31, 2019 and 2018: Table 1.3 As of March 31, 2019 As of March 31, 2018 Available-for-Sale Securities Held-to-Maturity Securities Cash Flow Hedges Total Available-for-Sale Securities Held-to-Maturity Securities Cash Flow Hedges Total (in thousands) For the Three Months Ended: Beginning Balance $ (25,360 ) $ 43,443 $ 6,873 $ 24,956 $ (1,676 ) $ 48,236 $ 4,525 $ 51,085 Cumulative effect from change in hedge accounting — — — — — — 27 27 Adjusted Beginning Balance (25,360 ) 43,443 6,873 24,956 (1,676 ) 48,236 4,552 51,112 Other comprehensive income/(loss) before reclassifications 3,318 — (4,095 ) $ (777 ) 18,187 — 5,053 $ 23,240 Amounts reclassified from AOCI (758 ) (1,787 ) (380 ) (2,925 ) (1,417 ) (1,035 ) 211 (2,241 ) Net comprehensive income/(loss) 2,560 (1,787 ) (4,475 ) (3,702 ) 16,770 (1,035 ) 5,264 20,999 Ending Balance $ (22,800 ) $ 41,656 $ 2,398 $ 21,254 $ 15,094 $ 47,201 $ 9,816 $ 72,111 The following table presents other comprehensive income activity, the impact on net income of amounts reclassified from each component of AOCI, and the related tax impact for the three months ended March 31, 2019 and 2018: Table 1.4 For the Three Months Ended March 31, 2019 March 31, 2018 Before Tax Provision (Benefit) After Tax Before Tax Provision (Benefit) After Tax (in thousands) Other comprehensive income: Available-for-sale-securities: Unrealized holding gains on available-for-sale-securities $ 4,200 $ 882 $ 3,318 $ 23,022 $ 4,835 $ 18,187 Less reclassification adjustments included in: Net interest income (1) (953 ) (200 ) (753 ) (1,787 ) (375 ) (1,412 ) Other income (2) (6 ) (1 ) (5 ) (7 ) (2 ) (5 ) Total $ 3,241 $ 681 $ 2,560 $ 21,228 $ 4,458 $ 16,770 Held-to-maturity securities: Less reclassification adjustments included in: Net interest income (3) (2,262 ) (475 ) (1,787 ) (1,310 ) (275 ) (1,035 ) Total $ (2,262 ) $ (475 ) $ (1,787 ) $ (1,310 ) $ (275 ) $ (1,035 ) Cash flow hedges Unrealized (losses)/gains on cash flow hedges $ (5,184 ) $ (1,089 ) (4,095 ) $ 6,396 $ 1,343 5,053 Less reclassification adjustments included in: Net interest income (4) (481 ) (101 ) (380 ) 267 56 211 Total $ (5,665 ) $ (1,190 ) $ (4,475 ) $ 6,663 $ 1,399 $ 5,264 Other comprehensive (loss)/income $ (4,686 ) $ (984 ) $ (3,702 ) $ 26,581 $ 5,582 $ 20,999 (1) Relates to the amortization of unrealized gains on hedged items prior to the application of fair value hedge accounting. (2) Represents amortization of deferred gains related to certain available-for-sale USDA Securities and Farmer Mac Guaranteed USDA Securities. (3) Relates to the amortization of unrealized gains or losses prior to the reclassification of these securities from available-for-sale to held-to-maturity. The amortization of unrealized gains or losses reported in AOCI for held-to-maturity securities will be offset by the amortization of the premium or discount created from the transfer into held-to-maturity securities, which occurred at fair value. These unrealized gains or losses will be recorded over the remaining life of the security with no impact on future net income. (4) Relates to the recognition of unrealized gains and losses on cash flow hedges recorded in AOCI. New Accounting Standards Recently Adopted Accounting Guidance Standard Description Date of Adoption Effect on Consolidated Financial Statements ASU 2016-02 , Leases (Topic 842) This Update provides new guidance intended to improve financial reporting about leasing transactions. This Update requires organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. It also requires new disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. January 1, 2019 The adoption of this Update did not have a material effect on Farmer Mac's financial position, results of operations, or cash flows. Recently Issued Accounting Guidance, Not Yet Adopted Within Our Consolidated Financial Statements Standard Description Date of Planned Adoption Effect on Consolidated Financial Statements ASU 2016-13 , Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments This Update will require entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts, as well as require entities to use forward-looking information to form their credit loss estimates. January 1, 2020 Farmer Mac is currently developing its accounting policy, planning for changes to its loss estimation methodologies, and evaluating the impact that the new guidance will have on its consolidated financial statements. The impact will primarily result from the new requirements to recognize all expected losses rather than just incurred losses as of the reporting date. ASU 2017-08 , Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities The amendments in this Update shorten the amortization period for certain callable debt securities held at a premium by requiring the premium to be amortized to the earliest call date. There is no required accounting change for securities held at a discount in this ASU. January 1, 2020 Farmer Mac does not expect that adoption of the new guidance will have a material effect on Farmer Mac's financial position, results of operations, or cash flows. ASU 2018-13 , Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement The amendments in this Update modify the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurements, including the consideration of costs and benefits. Certain disclosure requirements were either removed, modified, or added. January 1, 2020 Farmer Mac does not expect that adoption of the new guidance will have a material effect on Farmer Mac's financial position, results of operations, or cash flows. ASU 2018-15 , Intangibles - Goodwill and Other Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract The amendments in this Update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). January 1, 2020 Farmer Mac does not expect that adoption of the new guidance will have a material effect on Farmer Mac's financial position, results of operations, or cash flows. Reclassifications Certain reclassifications of prior period information were made to conform to the current period presentation.

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	INVESTMENT SECURITIES The following tables set forth information about Farmer Mac's investment securities as of March 31, 2019 and December 31, 2018: Table 2.1 As of March 31, 2019 Amount Outstanding Unamortized Premium/(Discount) Amortized Unrealized Unrealized Fair Value (in thousands) Available-for-sale: Floating rate auction-rate certificates backed by Government guaranteed student loans $ 19,700 $ — $ 19,700 $ — $ (788 ) $ 18,912 Floating rate asset-backed securities 27,726 (130 ) 27,596 — (145 ) 27,451 Floating rate Government/GSE guaranteed mortgage-backed securities 1,379,534 1,393 1,380,927 626 (5,316 ) 1,376,237 Fixed rate GSE guaranteed mortgage-backed securities 370 — 370 23 — 393 Fixed rate U.S. Treasuries 1,039,925 (5,543 ) 1,034,382 705 (102 ) 1,034,985 Total available-for-sale 2,467,255 (4,280 ) 2,462,975 1,354 (6,351 ) 2,457,978 Held-to-maturity: Fixed rate Government/GSE guaranteed mortgage-backed securities (1) 45,032 — 45,032 926 — 45,958 Total investment securities $ 2,512,287 $ (4,280 ) $ 2,508,007 $ 2,280 $ (6,351 ) $ 2,503,936 (1) The held-to-maturity investment securities had a weighted average yield of 3.8% as of March 31, 2019 . As of December 31, 2018 Amount Outstanding Unamortized Premium/(Discount) Amortized Unrealized Unrealized Fair Value (in thousands) Available-for-sale: Floating rate auction-rate certificates backed by Government guaranteed student loans $ 19,700 $ — $ 19,700 $ — $ (985 ) $ 18,715 Floating rate asset-backed securities 28,940 (136 ) 28,804 2 (128 ) 28,678 Floating rate Government/GSE guaranteed mortgage-backed securities 1,379,472 1,528 1,381,000 721 (4,267 ) 1,377,454 Fixed rate GSE guaranteed mortgage-backed securities 384 1 385 18 — 403 Fixed rate U.S. Treasuries 797,913 (4,882 ) 793,031 119 (548 ) 792,602 Total available-for-sale 2,226,409 (3,489 ) 2,222,920 860 (5,928 ) 2,217,852 Held-to-maturity: Fixed rate Government/GSE guaranteed mortgage-backed securities (1) 45,032 — 45,032 562 — 45,594 Total investment securities $ 2,271,441 $ (3,489 ) $ 2,267,952 $ 1,422 $ (5,928 ) $ 2,263,446 (1) The held-to-maturity investment securities had a weighted average yield of 3.5% as of December 31, 2018 . Farmer Mac did not sell any securities from its available-for-sale investment portfolio during the three months ended March 31, 2019 and 2018. As of March 31, 2019 and December 31, 2018, unrealized losses on available-for-sale investment securities were as follows: Table 2.2 As of March 31, 2019 Available-for-Sale Securities Unrealized loss position for Unrealized loss position for Fair Value Unrealized Fair Value Unrealized (dollars in thousands) Floating rate auction-rate certificates backed by Government guaranteed student loans $ — $ — $ 18,912 $ (788 ) Floating rate asset-backed securities 6,179 (56 ) 18,173 (89 ) Floating rate Government/GSE guaranteed mortgage-backed securities 715,948 (3,368 ) 381,997 (1,948 ) Fixed rate U.S. Treasuries 262,700 (41 ) 117,382 (61 ) Total $ 984,827 $ (3,465 ) $ 536,464 $ (2,886 ) Number of securities in loss position 48 63 As of December 31, 2018 Available-for-Sale Securities Unrealized loss position for Unrealized loss position for Fair Value Unrealized Fair Value Unrealized (dollars in thousands) Floating rate auction-rate certificates backed by Government guaranteed student loans $ — $ — $ 18,715 $ (985 ) Floating rate asset-backed securities 6,456 (38 ) 19,058 (90 ) Floating rate Government/GSE guaranteed mortgage-backed securities 927,416 (2,907 ) 196,416 (1,360 ) Fixed rate U.S. Treasuries 499,581 (336 ) 81,597 (212 ) Total $ 1,433,453 $ (3,281 ) $ 315,786 $ (2,647 ) Number of securities in loss position 72 48 The unrealized losses presented above are principally due to a general widening of market spreads and an increase in the levels of interest rates from the dates of acquisition to March 31, 2019 and December 31, 2018, as applicable. The resulting decrease in fair values reflects an increase in the perceived risk by the financial markets related to those securities. As of March 31, 2019 and December 31, 2018, all of the investment securities in an unrealized loss position either were backed by the full faith and credit of the U.S. government or had credit ratings of at least "AA+." Securities in unrealized loss positions for 12 months or longer have a fair value as of March 31, 2019 that is, on average, approximately 99.5% of their amortized cost basis. Farmer Mac believes that all of these unrealized losses are recoverable within a reasonable period of time by way of maturity or changes in credit spreads. Accordingly, Farmer Mac has concluded that none of the unrealized losses on these available-for-sale investment securities are other-than-temporary impairment as of March 31, 2019 and December 31, 2018. Farmer Mac does not intend to sell these securities, and it is not "more likely than not" that Farmer Mac will be required to sell the securities before recovery of the amortized cost basis. The amortized cost, fair value, and weighted-average yield of available-for-sale investment securities by remaining contractual maturity as of March 31, 2019 are set forth below. Asset-backed and mortgage-backed securities are included based on their final maturities, although the actual maturities may differ due to prepayments of the underlying assets. Table 2.3 As of March 31, 2019 Available-for-Sale Securities Amortized Fair Value Weighted- (dollars in thousands) Due within one year $ 982,026 $ 982,554 1.40% Due after one year through five years 272,477 272,528 2.78% Due after five years through ten years 650,974 647,882 2.87% Due after ten years 557,498 555,014 3.08% Total $ 2,462,975 $ 2,457,978 2.32% FARMER MAC GUARANTEED SECURITIES AND USDA SECURITIES The following tables set forth information about on-balance sheet Farmer Mac Guaranteed Securities and USDA Securities as of March 31, 2019 and December 31, 2018: Table 3.1 As of March 31, 2019 Unpaid Principal Balance Unamortized Premium/(Discount) Amortized Unrealized Unrealized Fair Value (in thousands) Held-to-maturity: AgVantage $ 2,013,619 $ (235 ) $ 2,013,384 $ 7,035 $ (5,932 ) $ 2,014,487 Farmer Mac Guaranteed USDA Securities 26,794 237 27,031 237 — 27,268 Total Farmer Mac Guaranteed Securities 2,040,413 2 2,040,415 7,272 (5,932 ) 2,041,755 USDA Securities 2,072,411 52,901 2,125,312 1 (21,409 ) 2,103,904 Total held-to-maturity $ 4,112,824 $ 52,903 $ 4,165,727 $ 7,273 $ (27,341 ) $ 4,145,659 Available-for-sale: AgVantage $ 6,408,318 $ (190 ) $ 6,408,128 $ 67,066 $ (33,570 ) $ 6,441,624 Trading: USDA Securities (1) $ 9,087 $ 649 $ 9,736 $ 22 $ (271 ) $ 9,487 (1) The trading USDA securities had a weighted average yield of 5.23% as of March 31, 2019 . As of December 31, 2018 Unpaid Principal Balance Unamortized Premium/(Discount) Amortized Unrealized Unrealized Fair Value (in thousands) Held-to-maturity: AgVantage $ 2,069,185 $ (194 ) $ 2,068,991 $ 2,637 $ (11,948 ) $ 2,059,680 Farmer Mac Guaranteed USDA Securities 27,383 244 27,627 98 — 27,725 Total Farmer Mac Guaranteed Securities 2,096,568 50 2,096,618 2,735 (11,948 ) 2,087,405 USDA Securities 2,110,963 55,211 2,166,174 — (62,227 ) 2,103,947 Total held-to-maturity $ 4,207,531 $ 55,261 $ 4,262,792 $ 2,735 $ (74,175 ) $ 4,191,352 Available-for-sale: AgVantage $ 6,003,733 $ (204 ) $ 6,003,529 $ 22,335 $ (51,367 ) $ 5,974,497 Trading: USDA Securities (1) $ 9,591 $ 701 $ 10,292 $ 20 $ (313 ) $ 9,999 (1) The trading USDA securities had a weighted average yield of 5.21% as of December 31, 2018 . As of March 31, 2019 and December 31, 2018, unrealized losses on held-to-maturity and available-for-sale on-balance sheet Farmer Mac Guaranteed Securities and USDA Securities were as follows: Table 3.2 As of March 31, 2019 Held-to-Maturity and Available-for-Sale Securities Unrealized loss position for Unrealized loss position for Fair Value Unrealized Fair Value Unrealized (in thousands) Held-to-maturity: AgVantage $ 212,783 $ (67 ) $ 1,030,571 $ (5,865 ) USDA Securities 33,763 (819 ) 2,069,702 (20,590 ) Total held-to-maturity $ 246,546 $ (886 ) $ 3,100,273 $ (26,455 ) Available-for-sale: AgVantage $ 552,404 $ (3,779 ) $ 1,633,673 $ (29,791 ) As of December 31, 2018 Held-to-Maturity and Available-for-Sale Securities Unrealized loss position for Unrealized loss position for Fair Value Unrealized Fair Value Unrealized (in thousands) Held-to-maturity: AgVantage $ 669,610 $ (1,760 ) $ 976,318 $ (10,188 ) USDA Securities 38,203 (696 ) 2,065,743 (61,531 ) Total held-to-maturity $ 707,813 $ (2,456 ) $ 3,042,061 $ (71,719 ) Available-for-sale: AgVantage $ 1,480,423 $ (9,364 ) $ 1,599,679 $ (42,003 ) The unrealized losses presented above are principally due to higher interest rates from the date of acquisition to March 31, 2019 and December 31, 2018, as applicable. The unrealized losses on the held-to-maturity USDA Securities as of both March 31, 2019 and December 31, 2018 reflect their increased cost basis resulting from their transfer to held-to-maturity as of October 1, 2016. The credit exposure related to Farmer Mac's USDA Guarantees line of business is covered by the full faith and credit guarantee of the United States. The unrealized losses from AgVantage securities were on 28 and 38 available-for-sale securities as of March 31, 2019 and December 31, 2018, respectively. There were 32 and 43 held-to-maturity AgVantage securities with an unrealized loss as of March 31, 2019 and December 31, 2018, respectively. As of March 31, 2019 , 24 available-for-sale AgVantage securities had been in a loss position for more than 12 months. As of December 31, 2018 , 21 available-for-sale AgVantage securities had been in a loss position for more than 12 months. Farmer Mac has concluded that none of the unrealized losses on its held-to-maturity Farmer Mac Guaranteed Securities and USDA Securities and available-for-sale Farmer Mac Guaranteed Securities are other-than-temporarily impaired as of either March 31, 2019 or December 31, 2018. Farmer Mac does not intend to sell these securities, and it is not "more likely than not" that Farmer Mac will be required to sell the securities before recovery of the amortized cost basis. During the three months ended March 31, 2019 and 2018, Farmer Mac realized no gains or losses from the sale of Farmer Mac Guaranteed Securities and USDA Securities. The amortized cost, fair value, and weighted-average yield of available-for-sale and held-to-maturity Farmer Mac Guaranteed Securities and USDA Securities by remaining contractual maturity as of March 31, 2019 are set forth below. The balances presented are based on their final maturities, although the actual maturities may differ due to prepayments of the underlying assets. Table 3.3 As of March 31, 2019 Available-for-Sale Securities Amortized Fair Value Weighted- (dollars in thousands) Due within one year $ 584,884 $ 585,085 3.09 % Due after one year through five years 2,976,650 2,988,640 3.16 % Due after five years through ten years 1,281,673 1,291,943 3.21 % Due after ten years 1,564,921 1,575,956 3.62 % Total $ 6,408,128 $ 6,441,624 3.28 % As of March 31, 2019 Held-to-Maturity Securities Amortized Fair Value Weighted- (dollars in thousands) Due within one year $ 682,586 $ 681,561 2.15 % Due after one year through five years 1,420,155 1,421,423 3.07 % Due after five years through ten years 204,350 202,025 3.45 % Due after ten years 1,858,636 1,840,650 3.62 % Total $ 4,165,727 $ 4,145,659 3.18 %

Farmer Mac Guaranteed Securitie

Farmer Mac Guaranteed Securities and USDA Securities	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
FARMER MAC GUARANTEED SECURITES AND USDA SECURITIES	INVESTMENT SECURITIES The following tables set forth information about Farmer Mac's investment securities as of March 31, 2019 and December 31, 2018: Table 2.1 As of March 31, 2019 Amount Outstanding Unamortized Premium/(Discount) Amortized Unrealized Unrealized Fair Value (in thousands) Available-for-sale: Floating rate auction-rate certificates backed by Government guaranteed student loans $ 19,700 $ — $ 19,700 $ — $ (788 ) $ 18,912 Floating rate asset-backed securities 27,726 (130 ) 27,596 — (145 ) 27,451 Floating rate Government/GSE guaranteed mortgage-backed securities 1,379,534 1,393 1,380,927 626 (5,316 ) 1,376,237 Fixed rate GSE guaranteed mortgage-backed securities 370 — 370 23 — 393 Fixed rate U.S. Treasuries 1,039,925 (5,543 ) 1,034,382 705 (102 ) 1,034,985 Total available-for-sale 2,467,255 (4,280 ) 2,462,975 1,354 (6,351 ) 2,457,978 Held-to-maturity: Fixed rate Government/GSE guaranteed mortgage-backed securities (1) 45,032 — 45,032 926 — 45,958 Total investment securities $ 2,512,287 $ (4,280 ) $ 2,508,007 $ 2,280 $ (6,351 ) $ 2,503,936 (1) The held-to-maturity investment securities had a weighted average yield of 3.8% as of March 31, 2019 . As of December 31, 2018 Amount Outstanding Unamortized Premium/(Discount) Amortized Unrealized Unrealized Fair Value (in thousands) Available-for-sale: Floating rate auction-rate certificates backed by Government guaranteed student loans $ 19,700 $ — $ 19,700 $ — $ (985 ) $ 18,715 Floating rate asset-backed securities 28,940 (136 ) 28,804 2 (128 ) 28,678 Floating rate Government/GSE guaranteed mortgage-backed securities 1,379,472 1,528 1,381,000 721 (4,267 ) 1,377,454 Fixed rate GSE guaranteed mortgage-backed securities 384 1 385 18 — 403 Fixed rate U.S. Treasuries 797,913 (4,882 ) 793,031 119 (548 ) 792,602 Total available-for-sale 2,226,409 (3,489 ) 2,222,920 860 (5,928 ) 2,217,852 Held-to-maturity: Fixed rate Government/GSE guaranteed mortgage-backed securities (1) 45,032 — 45,032 562 — 45,594 Total investment securities $ 2,271,441 $ (3,489 ) $ 2,267,952 $ 1,422 $ (5,928 ) $ 2,263,446 (1) The held-to-maturity investment securities had a weighted average yield of 3.5% as of December 31, 2018 . Farmer Mac did not sell any securities from its available-for-sale investment portfolio during the three months ended March 31, 2019 and 2018. As of March 31, 2019 and December 31, 2018, unrealized losses on available-for-sale investment securities were as follows: Table 2.2 As of March 31, 2019 Available-for-Sale Securities Unrealized loss position for Unrealized loss position for Fair Value Unrealized Fair Value Unrealized (dollars in thousands) Floating rate auction-rate certificates backed by Government guaranteed student loans $ — $ — $ 18,912 $ (788 ) Floating rate asset-backed securities 6,179 (56 ) 18,173 (89 ) Floating rate Government/GSE guaranteed mortgage-backed securities 715,948 (3,368 ) 381,997 (1,948 ) Fixed rate U.S. Treasuries 262,700 (41 ) 117,382 (61 ) Total $ 984,827 $ (3,465 ) $ 536,464 $ (2,886 ) Number of securities in loss position 48 63 As of December 31, 2018 Available-for-Sale Securities Unrealized loss position for Unrealized loss position for Fair Value Unrealized Fair Value Unrealized (dollars in thousands) Floating rate auction-rate certificates backed by Government guaranteed student loans $ — $ — $ 18,715 $ (985 ) Floating rate asset-backed securities 6,456 (38 ) 19,058 (90 ) Floating rate Government/GSE guaranteed mortgage-backed securities 927,416 (2,907 ) 196,416 (1,360 ) Fixed rate U.S. Treasuries 499,581 (336 ) 81,597 (212 ) Total $ 1,433,453 $ (3,281 ) $ 315,786 $ (2,647 ) Number of securities in loss position 72 48 The unrealized losses presented above are principally due to a general widening of market spreads and an increase in the levels of interest rates from the dates of acquisition to March 31, 2019 and December 31, 2018, as applicable. The resulting decrease in fair values reflects an increase in the perceived risk by the financial markets related to those securities. As of March 31, 2019 and December 31, 2018, all of the investment securities in an unrealized loss position either were backed by the full faith and credit of the U.S. government or had credit ratings of at least "AA+." Securities in unrealized loss positions for 12 months or longer have a fair value as of March 31, 2019 that is, on average, approximately 99.5% of their amortized cost basis. Farmer Mac believes that all of these unrealized losses are recoverable within a reasonable period of time by way of maturity or changes in credit spreads. Accordingly, Farmer Mac has concluded that none of the unrealized losses on these available-for-sale investment securities are other-than-temporary impairment as of March 31, 2019 and December 31, 2018. Farmer Mac does not intend to sell these securities, and it is not "more likely than not" that Farmer Mac will be required to sell the securities before recovery of the amortized cost basis. The amortized cost, fair value, and weighted-average yield of available-for-sale investment securities by remaining contractual maturity as of March 31, 2019 are set forth below. Asset-backed and mortgage-backed securities are included based on their final maturities, although the actual maturities may differ due to prepayments of the underlying assets. Table 2.3 As of March 31, 2019 Available-for-Sale Securities Amortized Fair Value Weighted- (dollars in thousands) Due within one year $ 982,026 $ 982,554 1.40% Due after one year through five years 272,477 272,528 2.78% Due after five years through ten years 650,974 647,882 2.87% Due after ten years 557,498 555,014 3.08% Total $ 2,462,975 $ 2,457,978 2.32% FARMER MAC GUARANTEED SECURITIES AND USDA SECURITIES The following tables set forth information about on-balance sheet Farmer Mac Guaranteed Securities and USDA Securities as of March 31, 2019 and December 31, 2018: Table 3.1 As of March 31, 2019 Unpaid Principal Balance Unamortized Premium/(Discount) Amortized Unrealized Unrealized Fair Value (in thousands) Held-to-maturity: AgVantage $ 2,013,619 $ (235 ) $ 2,013,384 $ 7,035 $ (5,932 ) $ 2,014,487 Farmer Mac Guaranteed USDA Securities 26,794 237 27,031 237 — 27,268 Total Farmer Mac Guaranteed Securities 2,040,413 2 2,040,415 7,272 (5,932 ) 2,041,755 USDA Securities 2,072,411 52,901 2,125,312 1 (21,409 ) 2,103,904 Total held-to-maturity $ 4,112,824 $ 52,903 $ 4,165,727 $ 7,273 $ (27,341 ) $ 4,145,659 Available-for-sale: AgVantage $ 6,408,318 $ (190 ) $ 6,408,128 $ 67,066 $ (33,570 ) $ 6,441,624 Trading: USDA Securities (1) $ 9,087 $ 649 $ 9,736 $ 22 $ (271 ) $ 9,487 (1) The trading USDA securities had a weighted average yield of 5.23% as of March 31, 2019 . As of December 31, 2018 Unpaid Principal Balance Unamortized Premium/(Discount) Amortized Unrealized Unrealized Fair Value (in thousands) Held-to-maturity: AgVantage $ 2,069,185 $ (194 ) $ 2,068,991 $ 2,637 $ (11,948 ) $ 2,059,680 Farmer Mac Guaranteed USDA Securities 27,383 244 27,627 98 — 27,725 Total Farmer Mac Guaranteed Securities 2,096,568 50 2,096,618 2,735 (11,948 ) 2,087,405 USDA Securities 2,110,963 55,211 2,166,174 — (62,227 ) 2,103,947 Total held-to-maturity $ 4,207,531 $ 55,261 $ 4,262,792 $ 2,735 $ (74,175 ) $ 4,191,352 Available-for-sale: AgVantage $ 6,003,733 $ (204 ) $ 6,003,529 $ 22,335 $ (51,367 ) $ 5,974,497 Trading: USDA Securities (1) $ 9,591 $ 701 $ 10,292 $ 20 $ (313 ) $ 9,999 (1) The trading USDA securities had a weighted average yield of 5.21% as of December 31, 2018 . As of March 31, 2019 and December 31, 2018, unrealized losses on held-to-maturity and available-for-sale on-balance sheet Farmer Mac Guaranteed Securities and USDA Securities were as follows: Table 3.2 As of March 31, 2019 Held-to-Maturity and Available-for-Sale Securities Unrealized loss position for Unrealized loss position for Fair Value Unrealized Fair Value Unrealized (in thousands) Held-to-maturity: AgVantage $ 212,783 $ (67 ) $ 1,030,571 $ (5,865 ) USDA Securities 33,763 (819 ) 2,069,702 (20,590 ) Total held-to-maturity $ 246,546 $ (886 ) $ 3,100,273 $ (26,455 ) Available-for-sale: AgVantage $ 552,404 $ (3,779 ) $ 1,633,673 $ (29,791 ) As of December 31, 2018 Held-to-Maturity and Available-for-Sale Securities Unrealized loss position for Unrealized loss position for Fair Value Unrealized Fair Value Unrealized (in thousands) Held-to-maturity: AgVantage $ 669,610 $ (1,760 ) $ 976,318 $ (10,188 ) USDA Securities 38,203 (696 ) 2,065,743 (61,531 ) Total held-to-maturity $ 707,813 $ (2,456 ) $ 3,042,061 $ (71,719 ) Available-for-sale: AgVantage $ 1,480,423 $ (9,364 ) $ 1,599,679 $ (42,003 ) The unrealized losses presented above are principally due to higher interest rates from the date of acquisition to March 31, 2019 and December 31, 2018, as applicable. The unrealized losses on the held-to-maturity USDA Securities as of both March 31, 2019 and December 31, 2018 reflect their increased cost basis resulting from their transfer to held-to-maturity as of October 1, 2016. The credit exposure related to Farmer Mac's USDA Guarantees line of business is covered by the full faith and credit guarantee of the United States. The unrealized losses from AgVantage securities were on 28 and 38 available-for-sale securities as of March 31, 2019 and December 31, 2018, respectively. There were 32 and 43 held-to-maturity AgVantage securities with an unrealized loss as of March 31, 2019 and December 31, 2018, respectively. As of March 31, 2019 , 24 available-for-sale AgVantage securities had been in a loss position for more than 12 months. As of December 31, 2018 , 21 available-for-sale AgVantage securities had been in a loss position for more than 12 months. Farmer Mac has concluded that none of the unrealized losses on its held-to-maturity Farmer Mac Guaranteed Securities and USDA Securities and available-for-sale Farmer Mac Guaranteed Securities are other-than-temporarily impaired as of either March 31, 2019 or December 31, 2018. Farmer Mac does not intend to sell these securities, and it is not "more likely than not" that Farmer Mac will be required to sell the securities before recovery of the amortized cost basis. During the three months ended March 31, 2019 and 2018, Farmer Mac realized no gains or losses from the sale of Farmer Mac Guaranteed Securities and USDA Securities. The amortized cost, fair value, and weighted-average yield of available-for-sale and held-to-maturity Farmer Mac Guaranteed Securities and USDA Securities by remaining contractual maturity as of March 31, 2019 are set forth below. The balances presented are based on their final maturities, although the actual maturities may differ due to prepayments of the underlying assets. Table 3.3 As of March 31, 2019 Available-for-Sale Securities Amortized Fair Value Weighted- (dollars in thousands) Due within one year $ 584,884 $ 585,085 3.09 % Due after one year through five years 2,976,650 2,988,640 3.16 % Due after five years through ten years 1,281,673 1,291,943 3.21 % Due after ten years 1,564,921 1,575,956 3.62 % Total $ 6,408,128 $ 6,441,624 3.28 % As of March 31, 2019 Held-to-Maturity Securities Amortized Fair Value Weighted- (dollars in thousands) Due within one year $ 682,586 $ 681,561 2.15 % Due after one year through five years 1,420,155 1,421,423 3.07 % Due after five years through ten years 204,350 202,025 3.45 % Due after ten years 1,858,636 1,840,650 3.62 % Total $ 4,165,727 $ 4,145,659 3.18 %

Financial Derivatives

Financial Derivatives	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL DERIVATIVES	FINANCIAL DERIVATIVES Farmer Mac enters into financial derivative transactions principally to protect against risk from the effects of market price or interest rate movements on the value of certain assets, future cash flows, or debt issuance, and not for trading or speculative purposes. For more information about Farmer Mac's financial derivatives, see Note 6 in Farmer Mac's Annual Report on Form 10-K for the fiscal year ended December 31, 2018 filed with the SEC on February 21, 2019. The following tables summarize information related to Farmer Mac's financial derivatives on a gross basis without giving consideration to master netting arrangements as of March 31, 2019 and December 31, 2018 : Table 4.1 As of March 31, 2019 Fair Value Weighted- Weighted- Weighted- Weighted- Notional Amount Asset (Liability) (dollars in thousands) Fair value hedges: Interest rate swaps: Pay fixed non-callable $ 4,085,824 $ 1,489 $ (5,981 ) 2.49% 2.63% 11.95 Receive fixed non-callable 1,760,200 807 (4,163 ) 2.61% 1.88% 1.42 Receive fixed callable 370,000 617 (1 ) 2.36% 2.63% 2.48 Cash flow hedges: Interest rate swaps: Pay fixed non-callable 373,000 2,043 (144 ) 2.40% 2.91% 5.87 No hedge designation: Interest rate swaps: Pay fixed non-callable 316,534 281 (11,785 ) 3.69% 2.74% 6.00 Receive fixed non-callable 2,886,621 — — 2.56% 2.36% 0.97 Basis swaps 2,004,000 841 (74 ) 2.58% 2.56% 1.22 Treasury futures 12,300 (94 ) 123.46 Credit valuation adjustment (25 ) 39 Total financial derivatives $ 11,808,479 $ 6,053 $ (22,203 ) Collateral (held)/pledged (3,900 ) 90,420 Net amount $ 2,153 $ 68,217 As of December 31, 2018 Fair Value Weighted- Weighted- Weighted- Weighted- Notional Amount Asset (Liability) (dollars in thousands) Fair value hedges: Interest rate swaps: Pay fixed non-callable $ 3,097,084 $ 3,004 $ (4,326 ) 2.42% 2.58% 9.75 Receive fixed non-callable 1,871,200 547 (4,484 ) 2.50% 1.84% 1.58 Receive fixed callable 160,000 338 (28 ) 2.35% 3.06% 2.91 Cash flow hedges: Interest rate swaps: Pay fixed non-callable 373,000 2,441 (99 ) 2.40% 2.83% 6.12 No hedge designation: Interest rate swaps: Pay fixed non-callable 316,664 796 (10,399 ) 3.69% 2.52% 6.25 Receive fixed non-callable 2,347,371 — — 2.37% 2.10% 0.86 Basis swaps 1,770,026 421 (130 ) 2.45% 2.49% 1.27 Treasury futures 20,400 — (188 ) 121.09 Credit valuation adjustment (60 ) 21 Total financial derivatives $ 9,955,745 $ 7,487 $ (19,633 ) Collateral (held)/pledged (1,778 ) 47,018 Net amount $ 5,709 $ 27,385 As of March 31, 2019 , Farmer Mac expects to reclassify $1.3 million after tax from accumulated other comprehensive income to earnings over the next twelve months. This amount could differ from amounts actually recognized due to changes in interest rates, hedge de-designations, and the addition of other hedges after March 31, 2019 . During the three months ended March 31, 2019 and 2018 , there were no gains or losses from interest rate swaps designated as cash flow hedges reclassified to earnings because it became probable that the original forecasted transaction would not occur. The following table summarizes the net income/(expense) recognized in the consolidated statements of operations related to derivatives for the three months ended March 31, 2019 and 2018 : Table 4.2 For the Three Months Ended March 31, 2019 Net Income/(Expense) Recognized in Consolidated Statement of Operations on Derivatives Net Interest Income Non-Interest Income Total Interest Income Interest Income Loans Total Interest Expense Losses on financial derivatives (in thousands) Total amounts presented in the consolidated statement of operations: $ 85,411 $ 51,397 $ (114,916 ) $ (360 ) $ 21,532 Income/(expense) related to interest settlements on fair value hedging relationships: Recognized on derivatives 1,550 (22 ) (3,218 ) — (1,690 ) Recognized on hedged items 24,565 4,555 (9,922 ) — 19,198 Discount amortization recognized on hedged items — — (149 ) — (149 ) Income/(expense) related to interest settlements on fair value hedging relationships $ 26,115 $ 4,533 $ (13,289 ) $ — $ 17,359 Gains/(losses) on fair value hedging relationships: Recognized on derivatives (58,987 ) (20,082 ) 8,978 — (70,091 ) Recognized on hedged items 59,352 16,237 (8,197 ) — 67,392 Gains/(losses) on fair value hedging relationships $ 365 $ (3,845 ) $ 781 $ — $ (2,699 ) Expense related to interest settlements on cash flow hedging relationships: Interest settlements reclassified from AOCI into net income on derivatives — — 481 — 481 Recognized on hedged items — — (2,688 ) — (2,688 ) Discount amortization recognized on hedged items — — (1 ) — (1 ) Expense recognized on cash flow hedges $ — $ — $ (2,208 ) $ — $ (2,208 ) Losses on financial derivatives not designated in hedge relationships: Gains on interest rate swaps — — — 2,168 2,168 Interest expense on interest rate swaps — — — (2,300 ) (2,300 ) Treasury futures — — — (228 ) (228 ) Losses on financial derivatives not designated in hedge relationships $ — $ — $ — $ (360 ) $ (360 ) For the Three Months Ended March 31, 2018 Net Income/(Expense) Recognized in Consolidated Statement of Operations on Derivatives Net Interest Income Non-Interest Income Total Interest Income Farmer Mac Guaranteed Securities and USDA Securities Interest Income Loans Total Interest Expense Losses on financial derivatives (in thousands) Total amounts presented in the consolidated statement of operations $ 62,430 $ 45,653 $ (76,317 ) $ (3,850 ) $ 27,916 Income/(expense) related to interest settlements on fair value hedging relationships: Recognized on derivatives (1,488 ) (297 ) 294 — (1,491 ) Recognized on hedged items 13,597 1,414 (7,915 ) — 7,096 Discount amortization recognized on hedged items — — (155 ) — (155 ) Income/(expense) related to interest settlements on fair value hedging relationships $ 12,109 $ 1,117 $ (7,776 ) $ — $ 5,450 Gains/(losses) on fair value hedging relationships: Recognized on derivatives 20,449 6,419 (9,647 ) — 17,221 Recognized on hedged items (18,948 ) (6,572 ) 11,137 — (14,383 ) Gains/(losses) on fair value hedging relationships $ 1,501 $ (153 ) $ 1,490 $ — $ 2,838 Expense related to interest settlements on cash flow hedging relationships: Interest settlements reclassified from AOCI into net income on derivatives $ — $ — $ (267 ) $ — $ (267 ) Recognized on hedged items — — (1,780 ) — (1,780 ) Discount amortization recognized on hedged items — — (2 ) — (2 ) Expense recognized on cash flow hedges $ — $ — $ (2,049 ) $ — $ (2,049 ) Losses on financial derivatives not designated in hedging relationships: Losses on interest rate swaps $ — $ — $ — $ (2,088 ) $ (2,088 ) Interest expense on interest rate swaps — — — (1,987 ) (1,987 ) Treasury futures — — — 225 225 Losses on financial derivatives not designated in hedge relationships $ — $ — $ — $ (3,850 ) $ (3,850 ) The following table shows the carrying amount and associated cumulative basis adjustment related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships as of March 31, 2019 and December 31, 2018: Table 4.3 Hedged Items in Fair Value Relationship Carrying Amount of Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustments included in the Carrying Amount of the Hedged Assets/(Liabilities) March 31, 2019 December 31, 2018 March 31, 2019 December 31, 2018 (in thousands) Farmer Mac Guaranteed Securities, Available-for-Sale, at fair value $ 3,360,615 $ 2,882,919 $ 58,445 $ (906 ) Loans held for investment, at amortized cost 726,169 194,617 8,968 (5,287 ) Other Assets 1,981 — 1,981 — Notes Payable, due after one year (1)(2) (2,103,633 ) (2,021,356 ) 541 8,785 (1) Carrying amount represents amortized cost. (2) Includes $0.2 million and $0.3 million of hedging adjustments on a discontinued hedging relationship as of March 31, 2019 and December 31, 2018, respectively. The following table shows Farmer Mac's credit exposure to interest rate swap counterparties as of March 31, 2019 and December 31, 2018: Table 4.4 March 31, 2019 Gross Amount Recognized (1) Counterparty Netting Net Amount Presented in the Consolidated Balance Sheet (in thousands) Assets: Derivatives Interest rate swap $ 42,551 $ 38,417 $ 4,134 Liabilities: Derivatives Interest rate swap $ 139,843 $ 133,793 $ 6,050 (1) Gross amount excludes netting arrangements and any adjustment for nonperformance risk, but includes accrued interest. December 31, 2018 Gross Amount Recognized (1) Counterparty Netting Net Amount Presented in the Consolidated Balance Sheet (in thousands) Assets: Derivatives Interest rate swaps $ 51,267 $ 48,124 $ 3,143 Liabilities: Derivatives Interest rate swaps $ 78,437 $ 64,568 $ 13,869 (1) Gross amount excludes netting arrangements and any adjustment for nonperformance risk, but includes accrued interest. As of March 31, 2019 , Farmer Mac held $3.0 million of cash and $0.9 million of investment securities as collateral for its derivatives in net asset positions resulting in uncollateralized net asset positions of $0.2 million . As of December 31, 2018, Farmer Mac held $0.7 million of cash and $1.1 million of investment securities as collateral for its derivatives in net asset positions, resulting in uncollateralized net asset positions of $1.4 million . Farmer Mac posted no cash and $90.4 million of investment securities as of March 31, 2019 and posted no cash and $47.0 million investment securities as of December 31, 2018. Farmer Mac records posted cash as a reduction in the outstanding balance of cash and cash equivalents and an increase in the balance of prepaid expenses and other assets. Any investment securities posted as collateral are included in the investment securities balances on the consolidated balance sheets. If Farmer Mac had breached certain provisions of the derivative contracts as of March 31, 2019 and December 31, 2018, it could have been required to settle its obligations under the agreements, but would not have been required to post additional collateral. As of March 31, 2019 and December 31, 2018, there were no financial derivatives in a net payable position where Farmer Mac was required to pledge collateral which the counterparty had the right to sell or repledge. Of Farmer Mac's $11.8 billion notional amount of interest rate swaps outstanding as of March 31, 2019 , $9.9 billion were cleared through the swap clearinghouse. Of Farmer Mac's $9.9 billion notional amount of interest rate swaps outstanding as of December 31, 2018, $8.5 billion were cleared through the swap clearinghouse. For more information about interest rate swaps cleared through a clearinghouse, see Note 6 in Farmer Mac's Annual Report on Form 10-K for the fiscal year ended December 31, 2018 filed with the SEC on February 21, 2019.

Loans and Allowance for Losses

Loans and Allowance for Losses	3 Months Ended
	Mar. 31, 2019
Receivables [Abstract]
LOANS AND ALLOWANCE FOR LOSSES	LOANS AND ALLOWANCE FOR LOSSES Loans Farmer Mac classifies loans as either held for investment or held for sale. Loans held for investment are recorded at the unpaid principal balance, net of unamortized premium or discount and other cost adjustments. The following table displays the composition of the loan balances as of March 31, 2019 and December 31, 2018: Table 5.1 As of March 31, 2019 As of December 31, 2018 Unsecuritized In Consolidated Trusts Total Unsecuritized In Consolidated Trusts Total (in thousands) Farm & Ranch $ 3,044,567 $ 1,566,330 $ 4,610,897 $ 3,071,222 $ 1,517,101 $ 4,588,323 Rural Utilities 1,429,101 — 1,429,101 938,843 — 938,843 Total unpaid principal balance (1) 4,473,668 1,566,330 6,039,998 4,010,065 1,517,101 5,527,166 Unamortized premiums, discounts, and other cost basis adjustments 6,843 — 6,843 (5,097 ) — (5,097 ) Total loans 4,480,511 1,566,330 6,046,841 4,004,968 1,517,101 5,522,069 Allowance for loan losses (5,270 ) (1,483 ) (6,753 ) (5,565 ) (1,452 ) (7,017 ) Total loans, net of allowance $ 4,475,241 $ 1,564,847 $ 6,040,088 $ 3,999,403 $ 1,515,649 $ 5,515,052 (1) Unpaid principal balance is the basis of presentation in disclosures of outstanding balances for Farmer Mac's lines of business. Allowance for Losses Farm & Ranch The following is a summary of the changes in the total allowance for losses for the three months ended March 31, 2019 and 2018: Table 5.2 For the Three Months Ended March 31, 2019 March 31, 2018 Allowance Reserve Total Allowance Reserve Total (in thousands) Beginning Balance $ 7,017 $ 2,167 9,184 $ 6,796 $ 2,070 8,866 Provision for/(release of) losses (264 ) (129 ) (393 ) (431 ) 21 (410 ) Charge-offs — — — — — — Ending Balance 6,753 2,038 8,791 6,365 2,091 8,456 During first quarter 2019, the net release to the allowance for loan losses and reserve for losses was primarily due to a decrease in Farm & Ranch outstanding business volume and lower specific allowance amounts on loans that Farmer Mac identified as impaired and individually evaluated. This was offset in part by a modest decline in credit quality during the first quarter of 2019. Farmer Mac recorded no charge-offs to its allowance for loan losses during first quarter 2019. During first quarter 2018, the net releases to the allowance for loan losses recorded were primarily attributable to (1) paydowns or payoffs of loans with an existing allowance in amounts that exceeded the increase in the allowance associated with net volume growth in Farm & Ranch loans recorded in first quarter 2018, and (2) paydowns on existing substandard loans or an improvement in the risk ratings of certain substandard loans, which resulted in the reduction of the amount of substandard assets rate in the lowest quality tier. Farmer Mac recorded no charge-offs to its allowance for loan losses during first quarter 2018. The following tables present the changes in the total allowance for losses for the three months ended March 31, 2019 and 2018 by commodity type: Table 5.3 March 31, 2019 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) For the Three Months Ended: Beginning Balance $ 4,394 $ 2,126 $ 1,460 $ 474 $ 720 $ 10 $ 9,184 (Release of)/provision for losses (161 ) (192 ) (8 ) (61 ) 17 12 (393 ) Charge-offs — — — — — — — Ending Balance $ 4,233 $ 1,934 $ 1,452 $ 413 $ 737 $ 22 $ 8,791 March 31, 2018 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) For the Three Months Ended: Beginning Balance $ 4,081 $ 2,469 $ 1,211 $ 481 $ 606 $ 18 $ 8,866 (Release of)/provision for losses (288 ) 10 25 (68 ) (84 ) (5 ) (410 ) Charge-offs — — — — — — — Ending Balance $ 3,793 $ 2,479 $ 1,236 $ 413 $ 522 $ 13 $ 8,456 The following tables present the unpaid principal balances of loans held and loans underlying LTSPCs and off-balance sheet Farmer Mac Guaranteed Securities (excluding AgVantage securities) and the related total allowance for losses by impairment method and commodity type as of March 31, 2019 and December 31, 2018 : Table 5.4 As of March 31, 2019 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) Ending Balance: Collectively evaluated for impairment: On-balance sheet $ 2,450,803 $ 946,435 $ 699,333 $ 341,177 $ 12,036 $ 4,586 $ 4,454,370 Off-balance sheet 1,215,602 506,782 620,297 168,685 72,285 3,083 2,586,734 Total $ 3,666,405 $ 1,453,217 $ 1,319,630 $ 509,862 $ 84,321 $ 7,669 $ 7,041,104 Individually evaluated for impairment: On-balance sheet $ 86,299 $ 36,785 $ 27,064 $ 6,379 $ — $ — $ 156,527 Off-balance sheet 10,752 2,357 3,916 869 — 60 17,954 Total $ 97,051 $ 39,142 $ 30,980 $ 7,248 $ — $ 60 $ 174,481 Total Farm & Ranch loans: On-balance sheet $ 2,537,102 $ 983,220 $ 726,397 $ 347,556 $ 12,036 $ 4,586 $ 4,610,897 Off-balance sheet 1,226,354 509,139 624,213 169,554 72,285 3,143 2,604,688 Total $ 3,763,456 $ 1,492,359 $ 1,350,610 $ 517,110 $ 84,321 $ 7,729 $ 7,215,585 Allowance for Losses: Collectively evaluated for impairment: On-balance sheet $ 1,818 $ 958 $ 631 $ 265 $ 84 $ 16 $ 3,772 Off-balance sheet 665 108 236 26 653 5 1,693 Total $ 2,483 $ 1,066 $ 867 $ 291 $ 737 $ 21 $ 5,465 Individually evaluated for impairment: On-balance sheet $ 1,551 $ 816 $ 511 $ 103 $ — $ — $ 2,981 Off-balance sheet 199 52 74 19 — 1 345 Total $ 1,750 $ 868 $ 585 $ 122 $ — $ 1 $ 3,326 Total Farm & Ranch loans: On-balance sheet $ 3,369 $ 1,774 $ 1,142 $ 368 $ 84 $ 16 $ 6,753 Off-balance sheet 864 160 310 45 653 6 2,038 Total $ 4,233 $ 1,934 $ 1,452 $ 413 $ 737 $ 22 $ 8,791 As of December 31, 2018 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) Ending Balance: Collectively evaluated for impairment: On-balance sheet $ 2,452,803 $ 952,719 $ 705,752 $ 329,070 $ 12,097 $ 4,477 $ 4,456,918 Off-balance sheet 1,239,094 515,520 624,522 166,907 73,084 3,286 2,622,413 Total $ 3,691,897 $ 1,468,239 $ 1,330,274 $ 495,977 $ 85,181 $ 7,763 $ 7,079,331 Individually evaluated for impairment: On-balance sheet $ 66,432 $ 36,333 $ 21,361 $ 7,278 $ — $ — $ 131,404 Off-balance sheet 13,298 5,249 3,737 883 — 69 23,236 Total $ 79,730 $ 41,582 $ 25,098 $ 8,161 $ — $ 69 $ 154,640 Total Farm & Ranch loans: On-balance sheet $ 2,519,235 $ 989,052 $ 727,113 $ 336,348 $ 12,097 $ 4,477 $ 4,588,322 Off-balance sheet 1,252,392 520,769 628,259 167,790 73,084 3,355 2,645,649 Total $ 3,771,627 $ 1,509,821 $ 1,355,372 $ 504,138 $ 85,181 $ 7,832 $ 7,233,971 Allowance for Losses: Collectively evaluated for impairment: On-balance sheet $ 2,120 $ 822 $ 731 $ 303 $ 84 $ 4 $ 4,064 Off-balance sheet 668 170 207 29 636 5 1,715 Total $ 2,788 $ 992 $ 938 $ 332 $ 720 $ 9 $ 5,779 Individually evaluated for impairment: On-balance sheet $ 1,329 $ 1,065 $ 437 $ 122 $ — $ — $ 2,953 Off-balance sheet 277 69 85 20 — 1 452 Total $ 1,606 $ 1,134 $ 522 $ 142 $ — $ 1 $ 3,405 Total Farm & Ranch loans: On-balance sheet $ 3,449 $ 1,887 $ 1,168 $ 425 $ 84 $ 4 $ 7,017 Off-balance sheet 945 239 292 49 636 6 2,167 Total $ 4,394 $ 2,126 $ 1,460 $ 474 $ 720 $ 10 $ 9,184 The following tables present by commodity type the unpaid principal balances, recorded investment, and specific allowance for losses related to impaired loans and the recorded investment in loans on nonaccrual status as of March 31, 2019 and December 31, 2018 : Table 5.5 As of March 31, 2019 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) Impaired Loans: With no specific allowance: Recorded investment $ 32,570 $ 15,531 $ 7,708 $ 1,605 $ — $ — $ 57,414 Unpaid principal balance 32,501 15,498 7,691 1,602 — — 57,292 With a specific allowance: Recorded investment (1) 64,666 23,690 23,331 5,657 — 60 117,404 Unpaid principal balance 64,550 23,644 23,289 5,646 — 60 117,189 Associated allowance 1,750 868 585 122 — 1 3,326 Total: Recorded investment 97,236 39,221 31,039 7,262 — 60 174,818 Unpaid principal balance 97,051 39,142 30,980 7,248 — 60 174,481 Associated allowance 1,750 868 585 122 — 1 3,326 Recorded investment of loans on nonaccrual status (2) $ 35,879 $ 12,843 $ 10,490 $ 3,760 $ — $ — $ 62,972 (1) Impairment analysis was performed in the aggregate in consideration of similar risk characteristics of the assets and historical statistics on $115.0 million ( 66% ) of impaired loans as of March 31, 2019 , which resulted in a specific allowance of $2.5 million . (2) Includes $15.8 million of loans that are less than 90 days delinquent but which have not met Farmer Mac's performance criteria for returning to accrual status. As of December 31, 2018 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) Impaired Loans: With no specific allowance: Recorded investment $ 20,734 $ 3,592 $ 5,764 $ 1,922 $ — $ — $ 32,012 Unpaid principal balance 20,632 3,573 5,737 1,912 — — 31,854 With a specific allowance: Recorded investment (1) 59,335 38,176 19,443 6,276 — 70 123,300 Unpaid principal balance 59,098 38,009 19,361 6,249 — 69 122,786 Associated allowance 1,606 1,134 522 142 — 1 3,405 Total: Recorded investment 80,069 41,768 25,207 8,198 — 70 155,312 Unpaid principal balance 79,730 41,582 25,098 8,161 — 69 154,640 Associated allowance 1,606 1,134 522 142 — 1 3,405 Recorded investment of loans on nonaccrual status (2) $ 26,611 $ 21,349 $ 8,803 $ 4,645 $ — $ — $ 61,408 (1) Impairment analysis was performed in the aggregate in consideration of similar risk characteristics of the assets and historical statistics on $120.9 million ( 78% ) of impaired loans as of December 31, 2018 , which resulted in a specific allowance of $2.7 million . (2) Includes $41.8 million of loans that are less than 90 days delinquent but which have not met Farmer Mac's performance criteria for returning to accrual status. The following table presents by commodity type the average recorded investment and interest income recognized on impaired loans for the three months ended March 31, 2019 and 2018 : Table 5.6 March 31, 2019 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) For the Three Months Ended: Average recorded investment in impaired loans $ 88,653 $ 40,495 $ 28,123 $ 7,730 $ — $ 65 $ 165,066 Income recognized on impaired loans 322 299 113 67 — — 801 March 31, 2018 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) For the Three Months Ended: Average recorded investment in impaired loans $ 72,017 $ 43,427 $ 22,274 $ 8,850 $ — $ 716 $ 147,284 Income recognized on impaired loans 392 172 79 55 — — 698 Net credit losses and 90 -day delinquencies as of and for the periods indicated for loans held and loans underlying off-balance sheet securities representing interests in pools of eligible Farm & Ranch loans ("Farm & Ranch Guaranteed Securities") and LTSPCs are presented in the table below. As of March 31, 2019 , there were no delinquencies and no probable losses inherent in Farmer Mac's Rural Utilities loan portfolio and Farmer Mac had not experienced credit losses on any Rural Utilities loans. Table 5.7 90-Day Delinquencies (1) Net Credit (Recoveries)/Losses As of For the Three Months Ended March 31, 2019 December 31, 2018 March 31, 2019 March 31, 2018 (in thousands) On-balance sheet assets: Farm & Ranch: Loans $ 47,219 $ 19,577 $ — $ 16 Total on-balance sheet $ 47,219 $ 19,577 $ — $ 16 Off-balance sheet assets: Farm & Ranch: LTSPCs $ 5,147 $ 7,304 $ — $ — Total off-balance sheet $ 5,147 $ 7,304 $ — $ — Total $ 52,366 $ 26,881 $ — $ 16 (1) Includes loans and loans underlying off-balance sheet Farm & Ranch Guaranteed Securities and LTSPCs that are 90 days or more past due, in foreclosure, or in bankruptcy with at least one missed payment, excluding loans performing under either their original loan terms or a court-approved bankruptcy plan. Of the $47.2 million of on-balance sheet loans reported as 90 -day delinquencies as of March 31, 2019 , $0.1 million were loans subject to "removal-of-account" provisions. Of the $19.6 million of on-balance sheet loans reported as 90 -day delinquencies as of December 31, 2018 , $0.1 million were loans subject to "removal-of-account" provisions. Credit Quality Indicators The following tables present credit quality indicators related to Farm & Ranch loans held and loans underlying LTSPCs and off-balance sheet Farm & Ranch Guaranteed Securities as of March 31, 2019 and December 31, 2018 : Table 5.8 As of March 31, 2019 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) Credit risk profile by internally assigned grade (1) On-balance sheet: Acceptable $ 2,391,354 $ 901,684 $ 682,548 $ 331,910 $ 10,539 $ 4,586 $ 4,322,621 Special mention (2) 59,594 44,751 16,786 9,267 1,497 — 131,895 Substandard (3) 86,154 36,785 27,063 6,379 — — 156,381 Total on-balance sheet $ 2,537,102 $ 983,220 $ 726,397 $ 347,556 $ 12,036 $ 4,586 $ 4,610,897 Off-Balance Sheet: Acceptable $ 1,088,307 $ 476,644 $ 558,864 $ 165,020 $ 71,160 $ 2,477 $ 2,362,472 Special mention (2) 80,802 24,960 45,249 870 — — 151,881 Substandard (3) 57,245 7,535 20,100 3,664 1,125 666 90,335 Total off-balance sheet $ 1,226,354 $ 509,139 $ 624,213 $ 169,554 $ 72,285 $ 3,143 $ 2,604,688 Total Ending Balance: Acceptable $ 3,479,661 $ 1,378,328 $ 1,241,412 $ 496,930 $ 81,699 $ 7,063 $ 6,685,093 Special mention (2) 140,396 69,711 62,035 10,137 1,497 — 283,776 Substandard (3) 143,399 44,320 47,163 10,043 1,125 666 246,716 Total $ 3,763,456 $ 1,492,359 $ 1,350,610 $ 517,110 $ 84,321 $ 7,729 $ 7,215,585 Commodity analysis of past due loans (1) On-balance sheet $ 30,149 $ 7,929 $ 6,745 $ 2,396 $ — $ — $ 47,219 Off-balance sheet 4,360 196 100 491 — — 5,147 90 days or more past due $ 34,509 $ 8,125 $ 6,845 $ 2,887 $ — $ — $ 52,366 (1) Amounts represent unpaid principal balance of risk-rated loans, which is the basis Farmer Mac uses to analyze its portfolio, and recorded investment of past due loans. (2) Assets in the "Special mention" category generally have potential weaknesses due to performance issues but are currently considered to be adequately secured. (3) Substandard assets have a well-defined weakness or weaknesses and there is a distinct possibility that some loss will be sustained if deficiencies are not corrected. As of December 31, 2018 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) Credit risk profile by internally assigned grade (1) On-balance sheet: Acceptable $ 2,381,853 $ 937,793 $ 679,253 $ 321,345 $ 10,604 $ 4,477 $ 4,335,325 Special mention (2) 71,096 14,926 26,499 7,725 1,493 — 121,739 Substandard (3) 66,286 36,333 21,361 7,278 — — 131,258 Total on-balance sheet $ 2,519,235 $ 989,052 $ 727,113 $ 336,348 $ 12,097 $ 4,477 $ 4,588,322 Off-Balance Sheet Acceptable $ 1,128,787 $ 469,479 $ 577,708 $ 162,730 $ 71,959 $ 2,656 $ 2,413,319 Special mention (2) 62,430 36,778 30,703 1,023 — — 130,934 Substandard (3) 61,175 14,512 19,848 4,037 1,125 699 101,396 Total off-balance sheet $ 1,252,392 $ 520,769 $ 628,259 $ 167,790 $ 73,084 $ 3,355 $ 2,645,649 Total Ending Balance: Acceptable $ 3,510,640 $ 1,407,272 $ 1,256,961 $ 484,075 $ 82,563 $ 7,133 $ 6,748,644 Special mention (2) 133,526 51,704 57,202 8,748 1,493 — 252,673 Substandard (3) 127,461 50,845 41,209 11,315 1,125 699 232,654 Total $ 3,771,627 $ 1,509,821 $ 1,355,372 $ 504,138 $ 85,181 $ 7,832 $ 7,233,971 Commodity analysis of past due loans (1) On-balance sheet $ 8,345 $ 2,997 $ 4,059 $ 4,176 $ — $ — $ 19,577 Off-balance sheet 6,476 197 — 631 — — 7,304 90 days or more past due $ 14,821 $ 3,194 $ 4,059 $ 4,807 $ — $ — $ 26,881 (1) Amounts represent unpaid principal balance of risk-rated loans, which is the basis Farmer Mac uses to analyze its portfolio, and recorded investment of past due loans. (2) Assets in the "Special mention" category generally have potential weaknesses due to performance issues but are currently considered to be adequately secured. (3) Substandard assets have a well-defined weakness or weaknesses and there is a distinct possibility that some loss will be sustained if deficiencies are not corrected. Concentrations of Credit Risk The following table sets forth the geographic and commodity/collateral diversification, the range of original loan-to-value ratios, and the range in the size of borrower exposure for all Farm & Ranch loans held and loans underlying off-balance sheet Farm & Ranch Guaranteed Securities and LTSPCs as of March 31, 2019 and December 31, 2018: Table 5.9 As of March 31, 2019 December 31, 2018 (in thousands) By commodity/collateral type: Crops $ 3,763,456 $ 3,771,627 Permanent plantings 1,492,359 1,509,821 Livestock 1,350,610 1,355,372 Part-time farm 517,110 504,138 Ag. Storage and Processing 84,321 85,181 Other 7,729 7,832 Total $ 7,215,585 $ 7,233,971 By geographic region (1) : Northwest $ 847,896 $ 855,596 Southwest 2,282,664 2,273,184 Mid-North 2,287,199 2,296,073 Mid-South 893,639 883,279 Northeast 337,019 332,370 Southeast 567,168 593,469 Total $ 7,215,585 $ 7,233,971 By original loan-to-value ratio: 0.00% to 40.00% $ 1,304,411 $ 1,333,790 40.01% to 50.00% 1,831,552 1,811,166 50.01% to 60.00% 2,506,962 2,530,484 60.01% to 70.00% 1,250,982 1,244,823 70.01% to 80.00% (2) 298,001 289,427 80.01% to 90.00% (2) 23,677 24,281 Total $ 7,215,585 $ 7,233,971 By size of borrower exposure (3) : Less than $1,000,000 $ 2,446,989 $ 2,431,296 $1,000,000 to $4,999,999 2,736,397 2,755,996 $5,000,000 to $9,999,999 881,847 916,422 $10,000,000 to $24,999,999 604,712 601,349 $25,000,000 and greater 545,640 528,908 Total $ 7,215,585 $ 7,233,971 (1) Geographic regions: Northwest (AK, ID, MT, OR, WA, WY); Southwest (AZ, CA, CO, HI, NM, NV, UT); Mid-North (IA, IL, IN, MI, MN, NE, ND, SD, WI); Mid-South (AR, KS, LA, MO, OK, TX); Northeast (CT, DE, KY, MA, MD, ME, NH, NJ, NY, OH, PA, RI, VA, VT, WV); Southeast (AL, FL, GA, MS, NC, SC, TN). (2) Primarily part-time farm loans. Loans with original loan-to-value ratios of greater than 80% are required to have private mortgage insurance. (3) Includes multiple loans to the same borrower or borrower-related entities. The original loan-to-value ratio is calculated by dividing the loan principal balance at the time of guarantee, purchase, or commitment by the appraised value at the date of loan origination or, when available, the updated appraised value at the time of guarantee, purchase, or commitment. Current loan-to-value ratios may be higher or lower than the original loan-to-value ratios. Material Related Party Transactions On February 19, 2019, Farmer Mac purchased a $546.2 million portfolio of participations in seasoned Rural Utilities loans from CoBank, ACB and CoBank, FCB (collectively, "CoBank") under a master loan participation agreement entered into on February 13, 2019. CoBank is a related party to Farmer Mac because of its stock ownership in Farmer Mac. For more information, see the Current Report on Form 8-K that we filed with the SEC on February 20, 2019.

Guarantees and Long-Term Standb

Guarantees and Long-Term Standby Purchase Commitments	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
GUARANTEES AND LONG-TERM STANDBY PURCHASE COMMITMENTS	GUARANTEES AND LONG-TERM STANDBY PURCHASE COMMITMENTS The following table presents the maximum principal amount of potential undiscounted future payments that Farmer Mac could be required to make under all off-balance sheet Farmer Mac Guaranteed Securities as of March 31, 2019 and December 31, 2018, not including offsets provided by any recourse provisions, recoveries from third parties, or collateral for the underlying loans: Table 6.1 Outstanding Balance of Off-Balance Sheet Farmer Mac Guaranteed Securities As of March 31, 2019 As of December 31, 2018 (in thousands) Farm & Ranch: Guaranteed Securities $ 128,221 $ 135,862 USDA Guarantees: Farmer Mac Guaranteed USDA Securities 376,487 367,684 Institutional Credit: AgVantage Securities 9,898 9,898 Revolving floating rate AgVantage facility (1) 300,000 300,000 Total off-balance sheet Farmer Mac Guaranteed Securities $ 814,606 $ 813,444 (1) Relates to a revolving floating rate AgVantage facility subject to specified contractual terms. Farmer Mac receives a fixed fee based on the full dollar amount of the facility. Eligible loans and other eligible assets may be placed into trusts that are used as vehicles for the securitization of the transferred assets and the Farmer Mac-guaranteed beneficial interests in the trusts are sold to investors. The following table summarizes the significant cash flows received from and paid to trusts used for Farmer Mac securitizations: Table 6.2 For the Three Months Ended March 31, 2019 March 31, 2018 (in thousands) Proceeds from new securitizations $ 116,708 $ 131,202 Guarantee fees received 442 546 Purchases of assets from the trusts (1) (4,721 ) (721 ) (1) Previously reported as loans held for investment in consolidated trust, at amortized cost, on the consolidated balance sheets. Upon purchase, these loans were reclassified to loans held for investment on the consolidated balance sheets. Farmer Mac has recorded a liability for its obligation to stand ready under the guarantee in the guarantee and commitment obligation on the consolidated balance sheets. This liability approximated $2.7 million and $2.8 million as of March 31, 2019 and December 31, 2018, respectively. As of both March 31, 2019 and December 31, 2018, the weighted-average remaining maturity of all loans underlying off-balance sheet Farmer Mac Guaranteed Securities, excluding AgVantage securities, was 10.3 years . As of March 31, 2019 and December 31, 2018, the weighted-average remaining maturity of the off-balance sheet AgVantage securities was 4.8 years and 5.0 years , respectively. Long-Term Standby Purchase Commitments An LTSPC is a commitment by Farmer Mac to purchase eligible loans from an identified pool of loans under specified circumstances set forth in the applicable agreement, either for cash or in exchange for Farmer Mac Guaranteed Securities, on one or more undetermined future dates. As consideration for its assumption of the credit risk on loans underlying an LTSPC, Farmer Mac receives a commitment fee payable monthly in arrears. The maximum principal amount of potential undiscounted future payments that Farmer Mac could be requested to make under all LTSPCs, not including offsets provided by any recourse provisions, recoveries from third parties, or collateral for the underlying loans, was $3.1 billion and $3.2 billion as of March 31, 2019 and December 31, 2018, respectively. As of March 31, 2019 and December 31, 2018, the weighted-average remaining maturity of all loans underlying LTSPCs was 15.4 years and 15.3 years , respectively. For those LTSPCs issued or modified on or after January 1, 2003, Farmer Mac has recorded a liability for its obligation to stand ready under the commitment in the guarantee and commitment obligation on the consolidated balance sheets. This liability approximated $35.6 million and $35.9 million as of March 31, 2019 and December 31, 2018, respectively.

Equity

Equity	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
EQUITY	EQUITY Common Stock During first quarter 2019, Farmer Mac paid a quarterly dividend of $0.70 per share on all classes of its common stock. For each quarter in 2018, Farmer Mac paid a quarterly dividend of $0.58 per share on all classes of its common stock. Farmer Mac's board of directors approved a share repurchase program during third quarter 2015 authorizing Farmer Mac to repurchase up to $25.0 million of its outstanding Class C non-voting common stock for two years. In August 2017, Farmer Mac's board of directors approved the continuation of the share repurchase program on its existing terms through August 2019 for the repurchase of up to $5.4 million of Farmer Mac's outstanding Class C non-voting common stock. This is the amount that was remaining under the share repurchase program that Farmer Mac's board of directors originally authorized in third quarter 2015 for the repurchase of up to $25.0 million of outstanding Class C non-voting common stock. On March 14, 2019, Farmer Mac's board of directors modified the terms of the existing share repurchase program by increasing the authorization for the repurchase to up to $10.0 million of Farmer Mac's outstanding Class C non-voting common stock and extending the term of the program through March 2021. Farmer Mac did not repurchase any shares during the first quarter 2019 under this program. As of March 31, 2019 , Farmer Mac had repurchased approximately 668,000 shares of Class C non-voting common stock at a cost of approximately $19.6 million under the share repurchase program, and has not repurchased any shares since first quarter 2016. Capital Requirements Farmer Mac is required to comply with the higher of the minimum capital requirement and the risk-based capital requirement. As of both March 31, 2019 and December 31, 2018, the minimum capital requirement was greater than the risk-based capital requirement. Farmer Mac's ability to declare and pay dividends could be restricted if it fails to comply with applicable capital requirements. As of March 31, 2019 , Farmer Mac's minimum capital requirement was $572.9 million and its core capital level was $742.0 million , which was $169.1 million above the minimum capital requirement as of that date. As of December 31, 2018, Farmer Mac's minimum capital requirement was $545.0 million and its core capital level was $727.6 million , which was $182.6 million above the minimum capital requirement as of that date. In accordance with FCA's rule on Farmer Mac's capital planning, and as part of Farmer Mac's capital plan, Farmer Mac has adopted a policy for maintaining a sufficient level of Tier 1 capital (consisting of retained earnings, paid-in-capital, common stock, and qualifying preferred stock) and imposing restrictions on Tier 1-eligible dividends and any discretionary bonus payments in the event that this capital falls below specified thresholds.

Fair Value Disclosures

Fair Value Disclosures	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOUSRE	FAIR VALUE DISCLOSURES As of March 31, 2019 , Farmer Mac's assets and liabilities recorded at fair value included financial instruments valued at $6.5 billion whose fair values were estimated by management in the absence of readily determinable fair values (i.e., level 3). These financial instruments measured as Level 3 represented 33% of total assets and 72% of financial instruments measured at fair value as of March 31, 2019 . As of December 31, 2018, Farmer Mac's assets and liabilities recorded at fair value included financial instruments valued at $6.0 billion whose fair values were estimated by management in the absence of readily determinable fair values. These financial instruments measured as level 3 represented 32% of total assets and 73% of financial instruments measured at fair value as of December 31, 2018. Transfers in and/or out of the different levels within the fair value hierarchy are based on the fair values of the assets and liabilities as of the beginning of the reporting period. During the first three months of both 2019 and 2018, there were no transfers within the fair value hierarchy for fair value measurements of Farmer Mac's investment securities, Farmer Mac Guaranteed Securities, USDA Securities, and financial derivatives. The following tables present information about Farmer Mac's assets and liabilities measured at fair value on a recurring and non-recurring basis as of March 31, 2019 and December 31, 2018, respectively, and indicate the fair value hierarchy of the valuation techniques used by Farmer Mac to determine such fair value: Table 8.1 Assets and Liabilities Measured at Fair Value as of March 31, 2019 Level 1 Level 2 Level 3 Total (in thousands) Recurring: Assets: Investment Securities: Available-for-sale: Floating rate auction-rate certificates backed by Government guaranteed student loans $ — $ — $ 18,912 $ 18,912 Floating rate asset-backed securities — 27,451 — 27,451 Floating rate Government/GSE guaranteed mortgage-backed securities — 1,376,237 — 1,376,237 Fixed rate GSE guaranteed mortgage-backed securities — 393 — 393 Fixed rate U.S. Treasuries 1,034,985 — — 1,034,985 Total Investment Securities 1,034,985 1,404,081 18,912 2,457,978 Farmer Mac Guaranteed Securities: Available-for-sale: AgVantage — — 6,441,624 6,441,624 Total Farmer Mac Guaranteed Securities — — 6,441,624 6,441,624 USDA Securities: Trading — — 9,487 9,487 Total USDA Securities — — 9,487 9,487 Financial derivatives — 6,053 — 6,053 Total Assets at fair value $ 1,034,985 $ 1,410,134 $ 6,470,023 $ 8,915,142 Liabilities: Financial derivatives $ 94 $ 22,109 $ — $ 22,203 Total Liabilities at fair value $ 94 $ 22,109 $ — $ 22,203 Non-recurring: Assets: Loans held for investment $ — $ — $ 339 $ 339 REO — — 1,253 1,253 Total Non-recurring Assets at fair value $ — $ — $ 1,592 $ 1,592 Assets and Liabilities Measured at Fair Value as of December 31, 2018 Level 1 Level 2 Level 3 Total (in thousands) Recurring: Assets: Investment Securities: Available-for-sale: Floating rate auction-rate certificates backed by Government guaranteed student loans $ — $ — $ 18,715 $ 18,715 Floating rate asset-backed securities — 28,678 — 28,678 Floating rate Government/GSE guaranteed mortgage-backed securities — 1,377,454 — 1,377,454 Fixed rate GSE guaranteed mortgage-backed securities — 403 — 403 Fixed rate U.S. Treasuries 792,602 — — 792,602 Total available-for-sale 792,602 1,406,535 18,715 2,217,852 Farmer Mac Guaranteed Securities: Available-for-sale: AgVantage — — 5,974,497 5,974,497 Total Farmer Mac Guaranteed Securities — — 5,974,497 5,974,497 USDA Securities: Trading — — 9,999 9,999 Total USDA Securities — — 9,999 9,999 Financial derivatives — 7,487 — 7,487 Total Assets at fair value $ 792,602 $ 1,414,022 $ 6,003,211 $ 8,209,835 Liabilities: Financial derivatives $ 188 $ 19,445 $ — $ 19,633 Total Liabilities at fair value $ 188 $ 19,445 $ — $ 19,633 Non-recurring: Assets: Loans held for investment $ — $ — $ 317 $ 317 REO — — 128 128 Total Non-recurring Assets at fair value $ — $ — $ 445 $ 445 The following tables present additional information about assets and liabilities measured at fair value on a recurring basis for which Farmer Mac has used significant unobservable inputs to determine fair value. Net transfers in and/or out of Level 3 are based on the fair values of the assets and liabilities as of the beginning of the reporting period. There were no liabilities measured at fair value using significant unobservable inputs during the three months ended March 31, 2019 and 2018. Table 8.2 Level 3 Assets and Liabilities Measured at Fair Value for the Three Months Ended March 31, 2019 Beginning Purchases Sales Settlements Realized and Unrealized Gains Ending (in thousands) Recurring: Assets: Investment Securities: Available-for-sale: Floating rate auction-rate certificates backed by Government guaranteed student loans $ 18,715 $ — $ — $ — $ — $ 197 $ 18,912 Total available-for-sale 18,715 — — — — 197 18,912 Farmer Mac Guaranteed Securities: Available-for-sale: AgVantage 5,974,497 776,332 — (371,733 ) 59,352 3,176 6,441,624 Total available-for-sale 5,974,497 776,332 — (371,733 ) 59,352 3,176 6,441,624 USDA Securities: Available-for-sale — 18,928 (18,928 ) — — — — Trading 9,999 — — (556 ) 44 — 9,487 Total USDA Securities 9,999 18,928 (18,928 ) (556 ) 44 — 9,487 Total Assets at fair value $ 6,003,211 $ 795,260 $ (18,928 ) $ (372,289 ) $ 59,396 $ 3,373 $ 6,470,023 Level 3 Assets and Liabilities Measured at Fair Value for the Three Months Ended March 31, 2018 Beginning Cumulative Effect from Change in Hedge Accounting Purchases Sales Settlements Realized and Unrealized Gains/(Losses) included in Other Ending (in thousands) Recurring: Assets: Investment Securities: Available-for-sale: Floating rate auction-rate certificates backed by Government guaranteed student loans $ 18,814 $ — $ — $ — $ — $ — $ 196 $ 19,010 Fixed rate GSE guaranteed mortgage-backed securities $ 4,333 $ — $ — $ — $ (109 ) $ — $ (104 ) $ 4,120 Total available-for-sale 23,147 — — — (109 ) — 92 23,130 Farmer Mac Guaranteed Securities: Available-for-sale: AgVantage 5,471,914 487 655,447 — (290,268 ) (18,948 ) 20,755 5,839,387 Total available-for-sale 5,471,914 487 655,447 — (290,268 ) (18,948 ) 20,755 5,839,387 USDA Securities: Available-for-sale — — 34,293 (34,293 ) — — — — Trading (1) 13,515 — — — (1,973 ) 16 — 11,558 Total USDA Securities 13,515 — 34,293 (34,293 ) (1,973 ) 16 — 11,558 Total Assets at fair value $ 5,508,576 $ 487 $ 689,740 $ (34,293 ) $ (292,350 ) $ (18,932 ) $ 20,847 $ 5,874,075 (1) Includes unrealized gains of $0.1 million attributable to assets still held as of March 31, 2018 that are recorded in " Gains on trading securities ." The following tables present additional information about the significant unobservable inputs, such as discount rates and constant prepayment rates ("CPR"), used in the fair value measurements categorized in level 3 of the fair value hierarchy as of March 31, 2019 and December 31, 2018. Table 8.3 As of March 31, 2019 Financial Instruments Fair Value Valuation Technique Unobservable Input Range (Weighted-Average) (in thousands) Assets: Investment securities: Floating rate auction-rate certificates backed by Government guaranteed student loans $ 18,912 Indicative bids Range of broker quotes 96.0% - 96.0% (96.0%) Farmer Mac Guaranteed Securities: AgVantage $ 6,441,624 Discounted cash flow Discount rate 1.7% - 4.2% (3.1%) USDA Securities $ 9,487 Discounted cash flow Discount rate 3.1% - 5.2% (4.9%) CPR 7% - 19% (17%) As of December 31, 2018 Financial Instruments Fair Value Valuation Technique Unobservable Input Range (Weighted-Average) (in thousands) Assets: Investment securities: Floating rate auction-rate certificates backed by Government guaranteed student loans $ 18,715 Indicative bids Range of broker quotes 95.0% - 95.0% (95.0%) Farmer Mac Guaranteed Securities: AgVantage $ 5,974,497 Discounted cash flow Discount rate 3.0% - 4.4% (3.3%) USDA Securities $ 9,999 Discounted cash flow Discount rate 3.2% - 5.2% (4.9%) CPR 7% - 17% (16%) The significant unobservable input used in the fair value measurements of AgVantage Farmer Mac Guaranteed Securities is the discount rate commensurate with the risks involved. Typically, significant increases (decreases) in any of these inputs in isolation may result in materially lower (higher) fair value measurements. Generally, in a rising interest rate environment, Farmer Mac would expect average discount rates to increase. Conversely, in a declining interest rate environment, Farmer Mac would expect average discount rates to decrease. Prepayment rates are not presented in the table above for AgVantage securities because they generally do not pay down principal based on amortization schedules but instead typically have fixed maturity dates when the secured general obligations are due. The significant unobservable inputs used in the fair value measurements of USDA Securities are the prepayment rate and discount rate commensurate with the risks involved. Typically, significant increases (decreases) in any of these inputs in isolation may result in materially lower (higher) fair value measurements. Generally, in a rising interest rate environment, Farmer Mac would expect average discount rates to increase and would likely expect a corresponding decrease in forecasted prepayment rates. Conversely, in a declining interest rate environment, Farmer Mac would expect average discount rates to decrease and would likely expect a corresponding increase in forecasted prepayment rates. Disclosures on Fair Value of Financial Instruments The following table sets forth the estimated fair values and carrying values for financial assets, liabilities, and guarantees and commitments as of March 31, 2019 and December 31, 2018: Table 8.4 As of March 31, 2019 As of December 31, 2018 Fair Value Carrying Fair Value Carrying (in thousands) Financial assets: Cash and cash equivalents $ 376,122 $ 376,122 $ 425,256 $ 425,256 Investment securities 2,503,936 2,503,010 2,263,446 2,262,884 Farmer Mac Guaranteed Securities 8,483,379 8,482,039 8,061,903 8,071,115 USDA Securities 2,113,391 2,134,799 2,113,946 2,176,173 Loans 6,092,347 6,040,088 5,512,781 5,515,052 Financial derivatives 6,053 6,053 7,487 7,487 Guarantee and commitment fees receivable: LTSPCs 36,049 36,660 37,461 36,870 Farmer Mac Guaranteed Securities 3,073 3,253 3,424 3,496 Financial liabilities: Notes payable: Due within one year 8,564,034 8,571,615 7,744,388 7,757,050 Due after one year 8,726,760 8,679,287 8,473,558 8,486,647 Debt securities of consolidated trusts held by third parties 1,575,585 1,567,195 1,501,754 1,528,957 Financial derivatives 22,203 22,203 19,633 19,633 Guarantee and commitment obligations: LTSPCs 35,026 35,637 36,471 35,880 Farmer Mac Guaranteed Securities 2,472 2,651 2,731 2,803 The carrying value of cash and cash equivalents is a reasonable estimate of their approximate fair value and is classified as Level 1. Investment securities primarily are valued based on unadjusted quoted prices in active markets and are classified as Level 2. Farmer Mac internally models the fair value of its loan portfolio, including loans held for investment and loans held for investment in consolidated trusts, Farmer Mac Guaranteed Securities, and USDA Securities by discounting the projected cash flows of these instruments at projected interest rates. The fair values are based on the present value of expected cash flows using management's best estimate of certain key assumptions, which include prepayment speeds, forward yield curves and discount rates commensurate with the risks involved. These fair value measurements do not take into consideration the fair value of the underlying property and are classified as Level 3. Financial derivatives primarily are valued using unadjusted counterparty valuations and are classified as Level 2. The fair value of the guarantee fees receivable/obligation and debt securities of consolidated trusts are estimated based on the present value of expected future cash flows of the underlying mortgage assets using management's best estimate of certain key assumptions, which include prepayments speeds, forward yield curves, and discount rates commensurate with the risks involved and are classified as Level 3. Notes payable are valued by discounting the expected cash flows of these instruments using a yield curve derived from market prices observed for similar agency securities and are also classified as Level 3. Because the cash flows of Farmer Mac's financial instruments may be interest rate path dependent, estimated fair values and projected discount rates for Level 3 financial instruments are derived using a Monte Carlo simulation model. Different market assumptions and estimation methodologies could significantly affect estimated fair value amounts.

Business Segment Reporting

Business Segment Reporting	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
BUSINESS SEGMENT REPORTING	BUSINESS SEGMENT REPORTING The following tables present core earnings for Farmer Mac's operating segments and a reconciliation to consolidated net income for the three months ended March 31, 2019 and 2018 : Table 9.1 Core Earnings by Business Segment For the Three Months Ended March 31, 2019 Farm & Ranch USDA Guarantees Rural Utilities Institutional Credit Corporate Reconciling Consolidated Net Income (in thousands) Net interest income $ 15,282 $ 4,442 $ (274 ) $ 18,187 $ 2,962 $ — $ 40,599 Less: reconciling adjustments (1)(2)(3) (2,545 ) (478 ) 3,507 (1,814 ) (468 ) 1,798 — Net effective spread 12,737 3,964 3,233 16,373 2,494 1,798 — Guarantee and commitment fees (2) 4,744 224 363 88 — (1,906 ) 3,513 Other income/(expense) (3) 480 — 7 — 22 (332 ) 177 Non-interest income/(loss) 5,224 224 370 88 22 (2,238 ) 3,690 Release of loan losses 264 — — — — — 264 Release of reserve for losses 129 — — — — — 129 Other non-interest expense (4,799 ) (1,428 ) (866 ) (2,159 ) (3,638 ) — (12,890 ) Non-interest expense (4) (4,670 ) (1,428 ) (866 ) (2,159 ) (3,638 ) — (12,761 ) Core earnings before income taxes 13,555 2,760 2,737 14,302 (1,122 ) (440 ) (5) 31,792 Income tax (expense)/benefit (2,847 ) (580 ) (575 ) (3,003 ) 290 93 (6,622 ) Core earnings before preferred stock dividends and attribution of income to non-controlling interest 10,708 2,180 2,162 11,299 (832 ) (347 ) (5) 25,170 Preferred stock dividends — — — — (3,296 ) — (3,296 ) Segment core earnings/(losses) $ 10,708 $ 2,180 $ 2,162 $ 11,299 $ (4,128 ) $ (347 ) (5) $ 21,874 Total assets at carrying value $ 4,698,250 $ 2,191,896 $ 1,443,393 $ 8,502,084 $ 2,962,154 $ — $ 19,797,777 Total on- and off-balance sheet program assets at principal balance $ 7,215,585 $ 2,484,779 $ 2,074,714 $ 8,731,835 $ — $ — $ 20,506,913 (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 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. (3) Includes the reclassification of interest expense related to interest rate swaps not designated as hedges, which are included in " Losses on financial derivatives " on the consolidated financial statements, to determine the effective funding cost for each operating segment. (4) Includes directly attributable costs and an allocation of indirectly attributable costs based on employee headcount. (5) 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. Core Earnings by Business Segment For the Three Months Ended March 31, 2018 Farm & Ranch USDA Guarantees Rural Institutional Credit Corporate Reconciling Adjustments Consolidated Net Income (in thousands) Net interest income $ 14,941 $ 5,070 $ 2,537 $ 17,832 $ 2,849 $ — $ 43,229 Less: reconciling adjustments (1)(2)(3) (2,401 ) (670 ) 413 (3,008 ) (462 ) 6,128 — Net effective spread 12,540 4,400 2,950 14,824 2,387 6,128 — Guarantee and commitment fees (2) 4,378 166 449 90 — (1,584 ) 3,499 Other income/(expense) (3) 557 5 5 — (139 ) (3,688 ) (3,260 ) Non-interest income/(loss) 4,935 171 454 90 (139 ) (5,272 ) 239 Release of loan losses 431 — — — — — 431 Provision for reserve for losses (21 ) — — — — — (21 ) Other non-interest expense (4,520 ) (1,193 ) (673 ) (1,846 ) (3,389 ) — (11,621 ) Non-interest expense (4) (4,541 ) (1,193 ) (673 ) (1,846 ) (3,389 ) — (11,642 ) Core earnings before income taxes 13,365 3,378 2,731 13,068 (1,141 ) 856 (5) 32,257 Income tax (expense)/benefit (2,807 ) (709 ) (574 ) (2,744 ) 575 (179 ) (6,438 ) Core earnings before preferred stock dividends and attribution of income to non-controlling interest 10,558 2,669 2,157 10,324 (566 ) 677 (5) 25,819 Preferred stock dividends — — — — (3,295 ) — (3,295 ) Segment core earnings/(losses) $ 10,558 $ 2,669 $ 2,157 $ 10,324 $ (3,861 ) $ 677 (5) $ 22,524 Total assets at carrying value $ 4,306,960 $ 2,195,714 $ 1,043,335 $ 8,066,231 $ 2,784,996 $ — $ 18,397,236 Total on- and off-balance sheet program assets at principal balance $ 6,932,002 $ 2,391,739 $ 1,729,797 $ 8,325,905 $ — $ — $ 19,379,443 (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 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. (3) Includes the reclassification of interest expense related to interest rate swaps not designated as hedges, which are included in " Losses on financial derivatives " on the consolidated financial statements, to determine the effective funding cost for each operating segment. (4) Includes directly attributable costs and an allocation of indirectly attributable costs based on employee headcount. (5) 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.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Account Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The interim unaudited consolidated financial statements of the Federal Agricultural Mortgage Corporation ("Farmer Mac") and subsidiaries have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). These interim unaudited consolidated financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary to present a fair statement of the financial position and the results of operations and cash flows of Farmer Mac and subsidiaries for the interim periods presented. Certain information and footnote disclosures normally included in the annual consolidated financial statements have been omitted as permitted by SEC rules and regulations. The December 31, 2018 consolidated balance sheet presented in this report has been derived from Farmer Mac's audited 2018 consolidated financial statements. Management believes that the disclosures are adequate to present fairly the consolidated financial statements as of the dates and for the periods presented. These interim unaudited consolidated financial statements should be read in conjunction with the 2018 consolidated financial statements of Farmer Mac and subsidiaries included in Farmer Mac's Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC on February 21, 2019. Results for interim periods are not necessarily indicative of those that may be expected for the fiscal year. Presented below are Farmer Mac's significant accounting policies that contain updated information for the three months ended March 31, 2019 .
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Farmer Mac and its two subsidiaries during the year: (1) Farmer Mac Mortgage Securities Corporation ("FMMSC"), whose principal activities are to facilitate the purchase and issuance of Farmer Mac Guaranteed Securities; and (2) Farmer Mac II LLC, whose principal activity is the operation of substantially all of the business related to the USDA Guarantees line of business – primarily the acquisition of USDA Securities. The consolidated financial statements also include the accounts of Variable Interest Entities ("VIEs") in which Farmer Mac determined itself to be the primary beneficiary.
Earnings Per Share	Earnings Per Common Share Basic earnings per common share ("EPS") is based on the weighted-average number of shares of common stock outstanding. Diluted earnings per common share is based on the weighted-average number of shares of common stock outstanding adjusted to include all potentially dilutive stock appreciation rights ("SARs") and unvested restricted stock awards.
Comprehensive Income	Comprehensive Income Comprehensive income represents all changes in stockholders' equity except those resulting from investments by or distributions to stockholders, and is comprised of net income and unrealized gains and losses on available-for-sale securities, certain held-to-maturity securities transferred from the available-for-sale classification, and cash flow hedges, net of related taxes.
New Accounting Standards	New Accounting Standards Recently Adopted Accounting Guidance Standard Description Date of Adoption Effect on Consolidated Financial Statements ASU 2016-02 , Leases (Topic 842) This Update provides new guidance intended to improve financial reporting about leasing transactions. This Update requires organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. It also requires new disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. January 1, 2019 The adoption of this Update did not have a material effect on Farmer Mac's financial position, results of operations, or cash flows. Recently Issued Accounting Guidance, Not Yet Adopted Within Our Consolidated Financial Statements Standard Description Date of Planned Adoption Effect on Consolidated Financial Statements ASU 2016-13 , Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments This Update will require entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts, as well as require entities to use forward-looking information to form their credit loss estimates. January 1, 2020 Farmer Mac is currently developing its accounting policy, planning for changes to its loss estimation methodologies, and evaluating the impact that the new guidance will have on its consolidated financial statements. The impact will primarily result from the new requirements to recognize all expected losses rather than just incurred losses as of the reporting date. ASU 2017-08 , Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities The amendments in this Update shorten the amortization period for certain callable debt securities held at a premium by requiring the premium to be amortized to the earliest call date. There is no required accounting change for securities held at a discount in this ASU. January 1, 2020 Farmer Mac does not expect that adoption of the new guidance will have a material effect on Farmer Mac's financial position, results of operations, or cash flows. ASU 2018-13 , Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement The amendments in this Update modify the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurements, including the consideration of costs and benefits. Certain disclosure requirements were either removed, modified, or added. January 1, 2020 Farmer Mac does not expect that adoption of the new guidance will have a material effect on Farmer Mac's financial position, results of operations, or cash flows. ASU 2018-15 , Intangibles - Goodwill and Other Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract The amendments in this Update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). January 1, 2020 Farmer Mac does not expect that adoption of the new guidance will have a material effect on Farmer Mac's financial position, results of operations, or cash flows.
Reclassifications	Reclassifications Certain reclassifications of prior period information were made to conform to the current period presentation.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Schedule of Consolidation of Variable Interest Entities	The following tables present, by line of business, details about the consolidation of VIEs: Table 1.1 Consolidation of Variable Interest Entities As of March 31, 2019 Farm & Ranch USDA Guarantees Rural Utilities Institutional Credit Corporate Total (in thousands) On-Balance Sheet: Consolidated VIEs: Loans held for investment in consolidated trusts, at amortized cost $ 1,566,330 $ — $ — $ — $ — $ 1,566,330 Debt securities of consolidated trusts held by third parties (1) 1,567,195 — — — — 1,567,195 Unconsolidated VIEs: Farmer Mac Guaranteed Securities: Carrying value (2) — 27,031 — — — 27,031 Maximum exposure to loss (3) — 26,794 — — — 26,794 Investment securities: Carrying value (4) — — — — 1,026,064 1,026,064 Maximum exposure to loss (3) (4) — — — — 1,030,108 1,030,108 Off-Balance Sheet: Unconsolidated VIEs: Farmer Mac Guaranteed Securities: Maximum exposure to loss (3) (5) 128,221 376,487 — — — 504,708 (1) Includes borrower remittances of $0.9 million . The borrower remittances had not been passed through to third party investors as of March 31, 2019 . (2) Includes $0.2 million of unamortized premiums and discounts and fair value adjustments related to the USDA Guarantees line of business. (3) Farmer Mac uses unpaid principal balance and outstanding face amount of investment securities to represent maximum exposure to loss. (4) Includes auction-rate certificates, asset-backed securities, and government-sponsored enterprise ("GSE")-guaranteed mortgage-backed securities. (5) The amount under the Farm & Ranch line of business relates to unconsolidated trusts where Farmer Mac determined it was not the primary beneficiary due to shared power with an unrelated party. Consolidation of Variable Interest Entities As of December 31, 2018 Farm & Ranch USDA Guarantees Rural Utilities Institutional Credit Corporate Total (in thousands) On-Balance Sheet: Consolidated VIEs: Loans held for investment in consolidated trusts, at amortized cost $ 1,517,101 $ — $ — $ — $ — $ 1,517,101 Debt securities of consolidated trusts held by third parties (1) 1,528,957 — — — — 1,528,957 Unconsolidated VIEs: Farmer Mac Guaranteed Securities: Carrying value (2) — 27,627 — — — 27,627 Maximum exposure to loss (3) — 27,383 — — — 27,383 Investment securities: Carrying value (4) — — — — 1,000,942 1,000,942 Maximum exposure to loss (3) (4) — — — — 1,003,968 1,003,968 Off-Balance Sheet: Unconsolidated VIEs: Farmer Mac Guaranteed Securities: Maximum exposure to loss (3) (5) 135,862 367,684 — — — 503,546 (1) Includes borrower remittances of $11.9 million . The borrower remittances had not been passed through to third party investors as of December 31, 2018 . (2) Includes $0.2 million of unamortized premiums and discounts and fair value adjustments related to the USDA Guarantees line of business. (3) Farmer Mac uses unpaid principal balance and outstanding face amount of investment securities to represent maximum exposure to loss. (4) Includes auction-rate certificates, asset-backed securities, and government-sponsored enterprise ("GSE")-guaranteed mortgage-backed securities. (5) The amount under the Farm & Ranch line of business relates to unconsolidated trusts where Farmer Mac determined it was not the primary beneficiary due to shared power with an unrelated party.
Earnings Per Common Share	The following schedule reconciles basic and diluted EPS for the three months ended March 31, 2019 and 2018: Table 1.2 For the Three Months Ended March 31, 2019 March 31, 2018 Net Weighted-Average Shares $ per Net Weighted-Average Shares $ per (in thousands, except per share amounts) Basic EPS Net income attributable to common stockholders $ 21,874 10,670 $ 2.05 $ 22,524 10,622 $ 2.12 Effect of dilutive securities (1) SARs and restricted stock — 107 (0.02 ) — 119 (0.02 ) Diluted EPS $ 21,874 10,777 $ 2.03 $ 22,524 10,741 $ 2.10 (1) For the three months ended March 31, 2019 and 2018, SARs and restricted stock of 56,976 and 25,062 , respectively, were outstanding but not included in the computation of diluted earnings per share of common stock because they were anti-dilutive. For the three months ended March 31, 2019 and 2018, contingent shares of unvested restricted stock of 12,284 and 13,138 , respectively, were outstanding but not included in the computation of diluted earnings per share of common stock because performance conditions had not yet been met.
Schedule of Accumulated Other Comprehensive Income, Net of Tax	The following table presents the changes in accumulated other comprehensive income ("AOCI"), net of tax, by component for the three months ended March 31, 2019 and 2018: Table 1.3 As of March 31, 2019 As of March 31, 2018 Available-for-Sale Securities Held-to-Maturity Securities Cash Flow Hedges Total Available-for-Sale Securities Held-to-Maturity Securities Cash Flow Hedges Total (in thousands) For the Three Months Ended: Beginning Balance $ (25,360 ) $ 43,443 $ 6,873 $ 24,956 $ (1,676 ) $ 48,236 $ 4,525 $ 51,085 Cumulative effect from change in hedge accounting — — — — — — 27 27 Adjusted Beginning Balance (25,360 ) 43,443 6,873 24,956 (1,676 ) 48,236 4,552 51,112 Other comprehensive income/(loss) before reclassifications 3,318 — (4,095 ) $ (777 ) 18,187 — 5,053 $ 23,240 Amounts reclassified from AOCI (758 ) (1,787 ) (380 ) (2,925 ) (1,417 ) (1,035 ) 211 (2,241 ) Net comprehensive income/(loss) 2,560 (1,787 ) (4,475 ) (3,702 ) 16,770 (1,035 ) 5,264 20,999 Ending Balance $ (22,800 ) $ 41,656 $ 2,398 $ 21,254 $ 15,094 $ 47,201 $ 9,816 $ 72,111
Schedule of Reclassification out of Accumulated Other Comprehensive Income	The following table presents other comprehensive income activity, the impact on net income of amounts reclassified from each component of AOCI, and the related tax impact for the three months ended March 31, 2019 and 2018: Table 1.4 For the Three Months Ended March 31, 2019 March 31, 2018 Before Tax Provision (Benefit) After Tax Before Tax Provision (Benefit) After Tax (in thousands) Other comprehensive income: Available-for-sale-securities: Unrealized holding gains on available-for-sale-securities $ 4,200 $ 882 $ 3,318 $ 23,022 $ 4,835 $ 18,187 Less reclassification adjustments included in: Net interest income (1) (953 ) (200 ) (753 ) (1,787 ) (375 ) (1,412 ) Other income (2) (6 ) (1 ) (5 ) (7 ) (2 ) (5 ) Total $ 3,241 $ 681 $ 2,560 $ 21,228 $ 4,458 $ 16,770 Held-to-maturity securities: Less reclassification adjustments included in: Net interest income (3) (2,262 ) (475 ) (1,787 ) (1,310 ) (275 ) (1,035 ) Total $ (2,262 ) $ (475 ) $ (1,787 ) $ (1,310 ) $ (275 ) $ (1,035 ) Cash flow hedges Unrealized (losses)/gains on cash flow hedges $ (5,184 ) $ (1,089 ) (4,095 ) $ 6,396 $ 1,343 5,053 Less reclassification adjustments included in: Net interest income (4) (481 ) (101 ) (380 ) 267 56 211 Total $ (5,665 ) $ (1,190 ) $ (4,475 ) $ 6,663 $ 1,399 $ 5,264 Other comprehensive (loss)/income $ (4,686 ) $ (984 ) $ (3,702 ) $ 26,581 $ 5,582 $ 20,999 (1) Relates to the amortization of unrealized gains on hedged items prior to the application of fair value hedge accounting. (2) Represents amortization of deferred gains related to certain available-for-sale USDA Securities and Farmer Mac Guaranteed USDA Securities. (3) Relates to the amortization of unrealized gains or losses prior to the reclassification of these securities from available-for-sale to held-to-maturity. The amortization of unrealized gains or losses reported in AOCI for held-to-maturity securities will be offset by the amortization of the premium or discount created from the transfer into held-to-maturity securities, which occurred at fair value. These unrealized gains or losses will be recorded over the remaining life of the security with no impact on future net income. (4) Relates to the recognition of unrealized gains and losses on cash flow hedges recorded in AOCI.
Recently Adopted Accounting Guidance and Recently Issued Accounting Guidance, Note Yet Adopted Within Out Consolidated Financial Statements	Recently Adopted Accounting Guidance Standard Description Date of Adoption Effect on Consolidated Financial Statements ASU 2016-02 , Leases (Topic 842) This Update provides new guidance intended to improve financial reporting about leasing transactions. This Update requires organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. It also requires new disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. January 1, 2019 The adoption of this Update did not have a material effect on Farmer Mac's financial position, results of operations, or cash flows. Recently Issued Accounting Guidance, Not Yet Adopted Within Our Consolidated Financial Statements Standard Description Date of Planned Adoption Effect on Consolidated Financial Statements ASU 2016-13 , Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments This Update will require entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts, as well as require entities to use forward-looking information to form their credit loss estimates. January 1, 2020 Farmer Mac is currently developing its accounting policy, planning for changes to its loss estimation methodologies, and evaluating the impact that the new guidance will have on its consolidated financial statements. The impact will primarily result from the new requirements to recognize all expected losses rather than just incurred losses as of the reporting date. ASU 2017-08 , Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities The amendments in this Update shorten the amortization period for certain callable debt securities held at a premium by requiring the premium to be amortized to the earliest call date. There is no required accounting change for securities held at a discount in this ASU. January 1, 2020 Farmer Mac does not expect that adoption of the new guidance will have a material effect on Farmer Mac's financial position, results of operations, or cash flows. ASU 2018-13 , Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement The amendments in this Update modify the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurements, including the consideration of costs and benefits. Certain disclosure requirements were either removed, modified, or added. January 1, 2020 Farmer Mac does not expect that adoption of the new guidance will have a material effect on Farmer Mac's financial position, results of operations, or cash flows. ASU 2018-15 , Intangibles - Goodwill and Other Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract The amendments in this Update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). January 1, 2020 Farmer Mac does not expect that adoption of the new guidance will have a material effect on Farmer Mac's financial position, results of operations, or cash flows.

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Schedule of Farmer Mac Investment Securities	The following tables set forth information about Farmer Mac's investment securities as of March 31, 2019 and December 31, 2018: Table 2.1 As of March 31, 2019 Amount Outstanding Unamortized Premium/(Discount) Amortized Unrealized Unrealized Fair Value (in thousands) Available-for-sale: Floating rate auction-rate certificates backed by Government guaranteed student loans $ 19,700 $ — $ 19,700 $ — $ (788 ) $ 18,912 Floating rate asset-backed securities 27,726 (130 ) 27,596 — (145 ) 27,451 Floating rate Government/GSE guaranteed mortgage-backed securities 1,379,534 1,393 1,380,927 626 (5,316 ) 1,376,237 Fixed rate GSE guaranteed mortgage-backed securities 370 — 370 23 — 393 Fixed rate U.S. Treasuries 1,039,925 (5,543 ) 1,034,382 705 (102 ) 1,034,985 Total available-for-sale 2,467,255 (4,280 ) 2,462,975 1,354 (6,351 ) 2,457,978 Held-to-maturity: Fixed rate Government/GSE guaranteed mortgage-backed securities (1) 45,032 — 45,032 926 — 45,958 Total investment securities $ 2,512,287 $ (4,280 ) $ 2,508,007 $ 2,280 $ (6,351 ) $ 2,503,936 (1) The held-to-maturity investment securities had a weighted average yield of 3.8% as of March 31, 2019 . As of December 31, 2018 Amount Outstanding Unamortized Premium/(Discount) Amortized Unrealized Unrealized Fair Value (in thousands) Available-for-sale: Floating rate auction-rate certificates backed by Government guaranteed student loans $ 19,700 $ — $ 19,700 $ — $ (985 ) $ 18,715 Floating rate asset-backed securities 28,940 (136 ) 28,804 2 (128 ) 28,678 Floating rate Government/GSE guaranteed mortgage-backed securities 1,379,472 1,528 1,381,000 721 (4,267 ) 1,377,454 Fixed rate GSE guaranteed mortgage-backed securities 384 1 385 18 — 403 Fixed rate U.S. Treasuries 797,913 (4,882 ) 793,031 119 (548 ) 792,602 Total available-for-sale 2,226,409 (3,489 ) 2,222,920 860 (5,928 ) 2,217,852 Held-to-maturity: Fixed rate Government/GSE guaranteed mortgage-backed securities (1) 45,032 — 45,032 562 — 45,594 Total investment securities $ 2,271,441 $ (3,489 ) $ 2,267,952 $ 1,422 $ (5,928 ) $ 2,263,446 (1) The held-to-maturity investment securities had a weighted average yield of 3.5% as of December 31, 2018 . The following tables set forth information about on-balance sheet Farmer Mac Guaranteed Securities and USDA Securities as of March 31, 2019 and December 31, 2018: Table 3.1 As of March 31, 2019 Unpaid Principal Balance Unamortized Premium/(Discount) Amortized Unrealized Unrealized Fair Value (in thousands) Held-to-maturity: AgVantage $ 2,013,619 $ (235 ) $ 2,013,384 $ 7,035 $ (5,932 ) $ 2,014,487 Farmer Mac Guaranteed USDA Securities 26,794 237 27,031 237 — 27,268 Total Farmer Mac Guaranteed Securities 2,040,413 2 2,040,415 7,272 (5,932 ) 2,041,755 USDA Securities 2,072,411 52,901 2,125,312 1 (21,409 ) 2,103,904 Total held-to-maturity $ 4,112,824 $ 52,903 $ 4,165,727 $ 7,273 $ (27,341 ) $ 4,145,659 Available-for-sale: AgVantage $ 6,408,318 $ (190 ) $ 6,408,128 $ 67,066 $ (33,570 ) $ 6,441,624 Trading: USDA Securities (1) $ 9,087 $ 649 $ 9,736 $ 22 $ (271 ) $ 9,487 (1) The trading USDA securities had a weighted average yield of 5.23% as of March 31, 2019 . As of December 31, 2018 Unpaid Principal Balance Unamortized Premium/(Discount) Amortized Unrealized Unrealized Fair Value (in thousands) Held-to-maturity: AgVantage $ 2,069,185 $ (194 ) $ 2,068,991 $ 2,637 $ (11,948 ) $ 2,059,680 Farmer Mac Guaranteed USDA Securities 27,383 244 27,627 98 — 27,725 Total Farmer Mac Guaranteed Securities 2,096,568 50 2,096,618 2,735 (11,948 ) 2,087,405 USDA Securities 2,110,963 55,211 2,166,174 — (62,227 ) 2,103,947 Total held-to-maturity $ 4,207,531 $ 55,261 $ 4,262,792 $ 2,735 $ (74,175 ) $ 4,191,352 Available-for-sale: AgVantage $ 6,003,733 $ (204 ) $ 6,003,529 $ 22,335 $ (51,367 ) $ 5,974,497 Trading: USDA Securities (1) $ 9,591 $ 701 $ 10,292 $ 20 $ (313 ) $ 9,999 (1) The trading USDA securities had a weighted average yield of 5.21% as of December 31, 2018 .
Schedule of Unrealized Losses on Available-for-Sale Investment Securities	As of March 31, 2019 and December 31, 2018, unrealized losses on available-for-sale investment securities were as follows: Table 2.2 As of March 31, 2019 Available-for-Sale Securities Unrealized loss position for Unrealized loss position for Fair Value Unrealized Fair Value Unrealized (dollars in thousands) Floating rate auction-rate certificates backed by Government guaranteed student loans $ — $ — $ 18,912 $ (788 ) Floating rate asset-backed securities 6,179 (56 ) 18,173 (89 ) Floating rate Government/GSE guaranteed mortgage-backed securities 715,948 (3,368 ) 381,997 (1,948 ) Fixed rate U.S. Treasuries 262,700 (41 ) 117,382 (61 ) Total $ 984,827 $ (3,465 ) $ 536,464 $ (2,886 ) Number of securities in loss position 48 63 As of December 31, 2018 Available-for-Sale Securities Unrealized loss position for Unrealized loss position for Fair Value Unrealized Fair Value Unrealized (dollars in thousands) Floating rate auction-rate certificates backed by Government guaranteed student loans $ — $ — $ 18,715 $ (985 ) Floating rate asset-backed securities 6,456 (38 ) 19,058 (90 ) Floating rate Government/GSE guaranteed mortgage-backed securities 927,416 (2,907 ) 196,416 (1,360 ) Fixed rate U.S. Treasuries 499,581 (336 ) 81,597 (212 ) Total $ 1,433,453 $ (3,281 ) $ 315,786 $ (2,647 ) Number of securities in loss position 72 48 As of March 31, 2019 and December 31, 2018, unrealized losses on held-to-maturity and available-for-sale on-balance sheet Farmer Mac Guaranteed Securities and USDA Securities were as follows: Table 3.2 As of March 31, 2019 Held-to-Maturity and Available-for-Sale Securities Unrealized loss position for Unrealized loss position for Fair Value Unrealized Fair Value Unrealized (in thousands) Held-to-maturity: AgVantage $ 212,783 $ (67 ) $ 1,030,571 $ (5,865 ) USDA Securities 33,763 (819 ) 2,069,702 (20,590 ) Total held-to-maturity $ 246,546 $ (886 ) $ 3,100,273 $ (26,455 ) Available-for-sale: AgVantage $ 552,404 $ (3,779 ) $ 1,633,673 $ (29,791 ) As of December 31, 2018 Held-to-Maturity and Available-for-Sale Securities Unrealized loss position for Unrealized loss position for Fair Value Unrealized Fair Value Unrealized (in thousands) Held-to-maturity: AgVantage $ 669,610 $ (1,760 ) $ 976,318 $ (10,188 ) USDA Securities 38,203 (696 ) 2,065,743 (61,531 ) Total held-to-maturity $ 707,813 $ (2,456 ) $ 3,042,061 $ (71,719 ) Available-for-sale: AgVantage $ 1,480,423 $ (9,364 ) $ 1,599,679 $ (42,003 )
Schedule of Available-for-Sale Securities Maturities	The amortized cost, fair value, and weighted-average yield of available-for-sale investment securities by remaining contractual maturity as of March 31, 2019 are set forth below. Asset-backed and mortgage-backed securities are included based on their final maturities, although the actual maturities may differ due to prepayments of the underlying assets. Table 2.3 As of March 31, 2019 Available-for-Sale Securities Amortized Fair Value Weighted- (dollars in thousands) Due within one year $ 982,026 $ 982,554 1.40% Due after one year through five years 272,477 272,528 2.78% Due after five years through ten years 650,974 647,882 2.87% Due after ten years 557,498 555,014 3.08% Total $ 2,462,975 $ 2,457,978 2.32% The amortized cost, fair value, and weighted-average yield of available-for-sale and held-to-maturity Farmer Mac Guaranteed Securities and USDA Securities by remaining contractual maturity as of March 31, 2019 are set forth below. The balances presented are based on their final maturities, although the actual maturities may differ due to prepayments of the underlying assets. Table 3.3 As of March 31, 2019 Available-for-Sale Securities Amortized Fair Value Weighted- (dollars in thousands) Due within one year $ 584,884 $ 585,085 3.09 % Due after one year through five years 2,976,650 2,988,640 3.16 % Due after five years through ten years 1,281,673 1,291,943 3.21 % Due after ten years 1,564,921 1,575,956 3.62 % Total $ 6,408,128 $ 6,441,624 3.28 % As of March 31, 2019 Held-to-Maturity Securities Amortized Fair Value Weighted- (dollars in thousands) Due within one year $ 682,586 $ 681,561 2.15 % Due after one year through five years 1,420,155 1,421,423 3.07 % Due after five years through ten years 204,350 202,025 3.45 % Due after ten years 1,858,636 1,840,650 3.62 % Total $ 4,165,727 $ 4,145,659 3.18 %

Farmer Mac Guaranteed Securit_2

Farmer Mac Guaranteed Securities and USDA Securities (Tables)	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Schedule of Farmer Mac Guaranteed Securities and USDA Securities	The following tables set forth information about Farmer Mac's investment securities as of March 31, 2019 and December 31, 2018: Table 2.1 As of March 31, 2019 Amount Outstanding Unamortized Premium/(Discount) Amortized Unrealized Unrealized Fair Value (in thousands) Available-for-sale: Floating rate auction-rate certificates backed by Government guaranteed student loans $ 19,700 $ — $ 19,700 $ — $ (788 ) $ 18,912 Floating rate asset-backed securities 27,726 (130 ) 27,596 — (145 ) 27,451 Floating rate Government/GSE guaranteed mortgage-backed securities 1,379,534 1,393 1,380,927 626 (5,316 ) 1,376,237 Fixed rate GSE guaranteed mortgage-backed securities 370 — 370 23 — 393 Fixed rate U.S. Treasuries 1,039,925 (5,543 ) 1,034,382 705 (102 ) 1,034,985 Total available-for-sale 2,467,255 (4,280 ) 2,462,975 1,354 (6,351 ) 2,457,978 Held-to-maturity: Fixed rate Government/GSE guaranteed mortgage-backed securities (1) 45,032 — 45,032 926 — 45,958 Total investment securities $ 2,512,287 $ (4,280 ) $ 2,508,007 $ 2,280 $ (6,351 ) $ 2,503,936 (1) The held-to-maturity investment securities had a weighted average yield of 3.8% as of March 31, 2019 . As of December 31, 2018 Amount Outstanding Unamortized Premium/(Discount) Amortized Unrealized Unrealized Fair Value (in thousands) Available-for-sale: Floating rate auction-rate certificates backed by Government guaranteed student loans $ 19,700 $ — $ 19,700 $ — $ (985 ) $ 18,715 Floating rate asset-backed securities 28,940 (136 ) 28,804 2 (128 ) 28,678 Floating rate Government/GSE guaranteed mortgage-backed securities 1,379,472 1,528 1,381,000 721 (4,267 ) 1,377,454 Fixed rate GSE guaranteed mortgage-backed securities 384 1 385 18 — 403 Fixed rate U.S. Treasuries 797,913 (4,882 ) 793,031 119 (548 ) 792,602 Total available-for-sale 2,226,409 (3,489 ) 2,222,920 860 (5,928 ) 2,217,852 Held-to-maturity: Fixed rate Government/GSE guaranteed mortgage-backed securities (1) 45,032 — 45,032 562 — 45,594 Total investment securities $ 2,271,441 $ (3,489 ) $ 2,267,952 $ 1,422 $ (5,928 ) $ 2,263,446 (1) The held-to-maturity investment securities had a weighted average yield of 3.5% as of December 31, 2018 . The following tables set forth information about on-balance sheet Farmer Mac Guaranteed Securities and USDA Securities as of March 31, 2019 and December 31, 2018: Table 3.1 As of March 31, 2019 Unpaid Principal Balance Unamortized Premium/(Discount) Amortized Unrealized Unrealized Fair Value (in thousands) Held-to-maturity: AgVantage $ 2,013,619 $ (235 ) $ 2,013,384 $ 7,035 $ (5,932 ) $ 2,014,487 Farmer Mac Guaranteed USDA Securities 26,794 237 27,031 237 — 27,268 Total Farmer Mac Guaranteed Securities 2,040,413 2 2,040,415 7,272 (5,932 ) 2,041,755 USDA Securities 2,072,411 52,901 2,125,312 1 (21,409 ) 2,103,904 Total held-to-maturity $ 4,112,824 $ 52,903 $ 4,165,727 $ 7,273 $ (27,341 ) $ 4,145,659 Available-for-sale: AgVantage $ 6,408,318 $ (190 ) $ 6,408,128 $ 67,066 $ (33,570 ) $ 6,441,624 Trading: USDA Securities (1) $ 9,087 $ 649 $ 9,736 $ 22 $ (271 ) $ 9,487 (1) The trading USDA securities had a weighted average yield of 5.23% as of March 31, 2019 . As of December 31, 2018 Unpaid Principal Balance Unamortized Premium/(Discount) Amortized Unrealized Unrealized Fair Value (in thousands) Held-to-maturity: AgVantage $ 2,069,185 $ (194 ) $ 2,068,991 $ 2,637 $ (11,948 ) $ 2,059,680 Farmer Mac Guaranteed USDA Securities 27,383 244 27,627 98 — 27,725 Total Farmer Mac Guaranteed Securities 2,096,568 50 2,096,618 2,735 (11,948 ) 2,087,405 USDA Securities 2,110,963 55,211 2,166,174 — (62,227 ) 2,103,947 Total held-to-maturity $ 4,207,531 $ 55,261 $ 4,262,792 $ 2,735 $ (74,175 ) $ 4,191,352 Available-for-sale: AgVantage $ 6,003,733 $ (204 ) $ 6,003,529 $ 22,335 $ (51,367 ) $ 5,974,497 Trading: USDA Securities (1) $ 9,591 $ 701 $ 10,292 $ 20 $ (313 ) $ 9,999 (1) The trading USDA securities had a weighted average yield of 5.21% as of December 31, 2018 .
Schedule of Unrealized Losses on Available-for-Sale Investment Securities	As of March 31, 2019 and December 31, 2018, unrealized losses on available-for-sale investment securities were as follows: Table 2.2 As of March 31, 2019 Available-for-Sale Securities Unrealized loss position for Unrealized loss position for Fair Value Unrealized Fair Value Unrealized (dollars in thousands) Floating rate auction-rate certificates backed by Government guaranteed student loans $ — $ — $ 18,912 $ (788 ) Floating rate asset-backed securities 6,179 (56 ) 18,173 (89 ) Floating rate Government/GSE guaranteed mortgage-backed securities 715,948 (3,368 ) 381,997 (1,948 ) Fixed rate U.S. Treasuries 262,700 (41 ) 117,382 (61 ) Total $ 984,827 $ (3,465 ) $ 536,464 $ (2,886 ) Number of securities in loss position 48 63 As of December 31, 2018 Available-for-Sale Securities Unrealized loss position for Unrealized loss position for Fair Value Unrealized Fair Value Unrealized (dollars in thousands) Floating rate auction-rate certificates backed by Government guaranteed student loans $ — $ — $ 18,715 $ (985 ) Floating rate asset-backed securities 6,456 (38 ) 19,058 (90 ) Floating rate Government/GSE guaranteed mortgage-backed securities 927,416 (2,907 ) 196,416 (1,360 ) Fixed rate U.S. Treasuries 499,581 (336 ) 81,597 (212 ) Total $ 1,433,453 $ (3,281 ) $ 315,786 $ (2,647 ) Number of securities in loss position 72 48 As of March 31, 2019 and December 31, 2018, unrealized losses on held-to-maturity and available-for-sale on-balance sheet Farmer Mac Guaranteed Securities and USDA Securities were as follows: Table 3.2 As of March 31, 2019 Held-to-Maturity and Available-for-Sale Securities Unrealized loss position for Unrealized loss position for Fair Value Unrealized Fair Value Unrealized (in thousands) Held-to-maturity: AgVantage $ 212,783 $ (67 ) $ 1,030,571 $ (5,865 ) USDA Securities 33,763 (819 ) 2,069,702 (20,590 ) Total held-to-maturity $ 246,546 $ (886 ) $ 3,100,273 $ (26,455 ) Available-for-sale: AgVantage $ 552,404 $ (3,779 ) $ 1,633,673 $ (29,791 ) As of December 31, 2018 Held-to-Maturity and Available-for-Sale Securities Unrealized loss position for Unrealized loss position for Fair Value Unrealized Fair Value Unrealized (in thousands) Held-to-maturity: AgVantage $ 669,610 $ (1,760 ) $ 976,318 $ (10,188 ) USDA Securities 38,203 (696 ) 2,065,743 (61,531 ) Total held-to-maturity $ 707,813 $ (2,456 ) $ 3,042,061 $ (71,719 ) Available-for-sale: AgVantage $ 1,480,423 $ (9,364 ) $ 1,599,679 $ (42,003 )
Schedule of Available-for-Sale and Held-to-Maturity Securities Maturities	The amortized cost, fair value, and weighted-average yield of available-for-sale investment securities by remaining contractual maturity as of March 31, 2019 are set forth below. Asset-backed and mortgage-backed securities are included based on their final maturities, although the actual maturities may differ due to prepayments of the underlying assets. Table 2.3 As of March 31, 2019 Available-for-Sale Securities Amortized Fair Value Weighted- (dollars in thousands) Due within one year $ 982,026 $ 982,554 1.40% Due after one year through five years 272,477 272,528 2.78% Due after five years through ten years 650,974 647,882 2.87% Due after ten years 557,498 555,014 3.08% Total $ 2,462,975 $ 2,457,978 2.32% The amortized cost, fair value, and weighted-average yield of available-for-sale and held-to-maturity Farmer Mac Guaranteed Securities and USDA Securities by remaining contractual maturity as of March 31, 2019 are set forth below. The balances presented are based on their final maturities, although the actual maturities may differ due to prepayments of the underlying assets. Table 3.3 As of March 31, 2019 Available-for-Sale Securities Amortized Fair Value Weighted- (dollars in thousands) Due within one year $ 584,884 $ 585,085 3.09 % Due after one year through five years 2,976,650 2,988,640 3.16 % Due after five years through ten years 1,281,673 1,291,943 3.21 % Due after ten years 1,564,921 1,575,956 3.62 % Total $ 6,408,128 $ 6,441,624 3.28 % As of March 31, 2019 Held-to-Maturity Securities Amortized Fair Value Weighted- (dollars in thousands) Due within one year $ 682,586 $ 681,561 2.15 % Due after one year through five years 1,420,155 1,421,423 3.07 % Due after five years through ten years 204,350 202,025 3.45 % Due after ten years 1,858,636 1,840,650 3.62 % Total $ 4,165,727 $ 4,145,659 3.18 %

Financial Derivatives (Tables)

Financial Derivatives (Tables)	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position	The following tables summarize information related to Farmer Mac's financial derivatives on a gross basis without giving consideration to master netting arrangements as of March 31, 2019 and December 31, 2018 : Table 4.1 As of March 31, 2019 Fair Value Weighted- Weighted- Weighted- Weighted- Notional Amount Asset (Liability) (dollars in thousands) Fair value hedges: Interest rate swaps: Pay fixed non-callable $ 4,085,824 $ 1,489 $ (5,981 ) 2.49% 2.63% 11.95 Receive fixed non-callable 1,760,200 807 (4,163 ) 2.61% 1.88% 1.42 Receive fixed callable 370,000 617 (1 ) 2.36% 2.63% 2.48 Cash flow hedges: Interest rate swaps: Pay fixed non-callable 373,000 2,043 (144 ) 2.40% 2.91% 5.87 No hedge designation: Interest rate swaps: Pay fixed non-callable 316,534 281 (11,785 ) 3.69% 2.74% 6.00 Receive fixed non-callable 2,886,621 — — 2.56% 2.36% 0.97 Basis swaps 2,004,000 841 (74 ) 2.58% 2.56% 1.22 Treasury futures 12,300 (94 ) 123.46 Credit valuation adjustment (25 ) 39 Total financial derivatives $ 11,808,479 $ 6,053 $ (22,203 ) Collateral (held)/pledged (3,900 ) 90,420 Net amount $ 2,153 $ 68,217 As of December 31, 2018 Fair Value Weighted- Weighted- Weighted- Weighted- Notional Amount Asset (Liability) (dollars in thousands) Fair value hedges: Interest rate swaps: Pay fixed non-callable $ 3,097,084 $ 3,004 $ (4,326 ) 2.42% 2.58% 9.75 Receive fixed non-callable 1,871,200 547 (4,484 ) 2.50% 1.84% 1.58 Receive fixed callable 160,000 338 (28 ) 2.35% 3.06% 2.91 Cash flow hedges: Interest rate swaps: Pay fixed non-callable 373,000 2,441 (99 ) 2.40% 2.83% 6.12 No hedge designation: Interest rate swaps: Pay fixed non-callable 316,664 796 (10,399 ) 3.69% 2.52% 6.25 Receive fixed non-callable 2,347,371 — — 2.37% 2.10% 0.86 Basis swaps 1,770,026 421 (130 ) 2.45% 2.49% 1.27 Treasury futures 20,400 — (188 ) 121.09 Credit valuation adjustment (60 ) 21 Total financial derivatives $ 9,955,745 $ 7,487 $ (19,633 ) Collateral (held)/pledged (1,778 ) 47,018 Net amount $ 5,709 $ 27,385
Schedule of Net Income/(Expense) Recognized	The following table summarizes the net income/(expense) recognized in the consolidated statements of operations related to derivatives for the three months ended March 31, 2019 and 2018 : Table 4.2 For the Three Months Ended March 31, 2019 Net Income/(Expense) Recognized in Consolidated Statement of Operations on Derivatives Net Interest Income Non-Interest Income Total Interest Income Interest Income Loans Total Interest Expense Losses on financial derivatives (in thousands) Total amounts presented in the consolidated statement of operations: $ 85,411 $ 51,397 $ (114,916 ) $ (360 ) $ 21,532 Income/(expense) related to interest settlements on fair value hedging relationships: Recognized on derivatives 1,550 (22 ) (3,218 ) — (1,690 ) Recognized on hedged items 24,565 4,555 (9,922 ) — 19,198 Discount amortization recognized on hedged items — — (149 ) — (149 ) Income/(expense) related to interest settlements on fair value hedging relationships $ 26,115 $ 4,533 $ (13,289 ) $ — $ 17,359 Gains/(losses) on fair value hedging relationships: Recognized on derivatives (58,987 ) (20,082 ) 8,978 — (70,091 ) Recognized on hedged items 59,352 16,237 (8,197 ) — 67,392 Gains/(losses) on fair value hedging relationships $ 365 $ (3,845 ) $ 781 $ — $ (2,699 ) Expense related to interest settlements on cash flow hedging relationships: Interest settlements reclassified from AOCI into net income on derivatives — — 481 — 481 Recognized on hedged items — — (2,688 ) — (2,688 ) Discount amortization recognized on hedged items — — (1 ) — (1 ) Expense recognized on cash flow hedges $ — $ — $ (2,208 ) $ — $ (2,208 ) Losses on financial derivatives not designated in hedge relationships: Gains on interest rate swaps — — — 2,168 2,168 Interest expense on interest rate swaps — — — (2,300 ) (2,300 ) Treasury futures — — — (228 ) (228 ) Losses on financial derivatives not designated in hedge relationships $ — $ — $ — $ (360 ) $ (360 ) For the Three Months Ended March 31, 2018 Net Income/(Expense) Recognized in Consolidated Statement of Operations on Derivatives Net Interest Income Non-Interest Income Total Interest Income Farmer Mac Guaranteed Securities and USDA Securities Interest Income Loans Total Interest Expense Losses on financial derivatives (in thousands) Total amounts presented in the consolidated statement of operations $ 62,430 $ 45,653 $ (76,317 ) $ (3,850 ) $ 27,916 Income/(expense) related to interest settlements on fair value hedging relationships: Recognized on derivatives (1,488 ) (297 ) 294 — (1,491 ) Recognized on hedged items 13,597 1,414 (7,915 ) — 7,096 Discount amortization recognized on hedged items — — (155 ) — (155 ) Income/(expense) related to interest settlements on fair value hedging relationships $ 12,109 $ 1,117 $ (7,776 ) $ — $ 5,450 Gains/(losses) on fair value hedging relationships: Recognized on derivatives 20,449 6,419 (9,647 ) — 17,221 Recognized on hedged items (18,948 ) (6,572 ) 11,137 — (14,383 ) Gains/(losses) on fair value hedging relationships $ 1,501 $ (153 ) $ 1,490 $ — $ 2,838 Expense related to interest settlements on cash flow hedging relationships: Interest settlements reclassified from AOCI into net income on derivatives $ — $ — $ (267 ) $ — $ (267 ) Recognized on hedged items — — (1,780 ) — (1,780 ) Discount amortization recognized on hedged items — — (2 ) — (2 ) Expense recognized on cash flow hedges $ — $ — $ (2,049 ) $ — $ (2,049 ) Losses on financial derivatives not designated in hedging relationships: Losses on interest rate swaps $ — $ — $ — $ (2,088 ) $ (2,088 ) Interest expense on interest rate swaps — — — (1,987 ) (1,987 ) Treasury futures — — — 225 225 Losses on financial derivatives not designated in hedge relationships $ — $ — $ — $ (3,850 ) $ (3,850 )
Schedule of Hedged Items in Fair Value Hedging Relationships	The following table shows the carrying amount and associated cumulative basis adjustment related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships as of March 31, 2019 and December 31, 2018: Table 4.3 Hedged Items in Fair Value Relationship Carrying Amount of Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustments included in the Carrying Amount of the Hedged Assets/(Liabilities) March 31, 2019 December 31, 2018 March 31, 2019 December 31, 2018 (in thousands) Farmer Mac Guaranteed Securities, Available-for-Sale, at fair value $ 3,360,615 $ 2,882,919 $ 58,445 $ (906 ) Loans held for investment, at amortized cost 726,169 194,617 8,968 (5,287 ) Other Assets 1,981 — 1,981 — Notes Payable, due after one year (1)(2) (2,103,633 ) (2,021,356 ) 541 8,785 (1) Carrying amount represents amortized cost. (2) Includes $0.2 million and $0.3 million of hedging adjustments on a discontinued hedging relationship as of March 31, 2019 and December 31, 2018, respectively.
Schedule of Credit Exposure to Interest Rate Swap Counterparties	The following table shows Farmer Mac's credit exposure to interest rate swap counterparties as of March 31, 2019 and December 31, 2018: Table 4.4 March 31, 2019 Gross Amount Recognized (1) Counterparty Netting Net Amount Presented in the Consolidated Balance Sheet (in thousands) Assets: Derivatives Interest rate swap $ 42,551 $ 38,417 $ 4,134 Liabilities: Derivatives Interest rate swap $ 139,843 $ 133,793 $ 6,050 (1) Gross amount excludes netting arrangements and any adjustment for nonperformance risk, but includes accrued interest. December 31, 2018 Gross Amount Recognized (1) Counterparty Netting Net Amount Presented in the Consolidated Balance Sheet (in thousands) Assets: Derivatives Interest rate swaps $ 51,267 $ 48,124 $ 3,143 Liabilities: Derivatives Interest rate swaps $ 78,437 $ 64,568 $ 13,869 (1) Gross amount excludes netting arrangements and any adjustment for nonperformance risk, but includes accrued interest.

Loans and Allowance for Losses

Loans and Allowance for Losses (Tables)	3 Months Ended
	Mar. 31, 2019
Receivables [Abstract]
Schedule of Composition of Loan Balances	The following table displays the composition of the loan balances as of March 31, 2019 and December 31, 2018: Table 5.1 As of March 31, 2019 As of December 31, 2018 Unsecuritized In Consolidated Trusts Total Unsecuritized In Consolidated Trusts Total (in thousands) Farm & Ranch $ 3,044,567 $ 1,566,330 $ 4,610,897 $ 3,071,222 $ 1,517,101 $ 4,588,323 Rural Utilities 1,429,101 — 1,429,101 938,843 — 938,843 Total unpaid principal balance (1) 4,473,668 1,566,330 6,039,998 4,010,065 1,517,101 5,527,166 Unamortized premiums, discounts, and other cost basis adjustments 6,843 — 6,843 (5,097 ) — (5,097 ) Total loans 4,480,511 1,566,330 6,046,841 4,004,968 1,517,101 5,522,069 Allowance for loan losses (5,270 ) (1,483 ) (6,753 ) (5,565 ) (1,452 ) (7,017 ) Total loans, net of allowance $ 4,475,241 $ 1,564,847 $ 6,040,088 $ 3,999,403 $ 1,515,649 $ 5,515,052 (1) Unpaid principal balance is the basis of presentation in disclosures of outstanding balances for Farmer Mac's lines of business.
Schedule of Allowance for Credit Losses	The following is a summary of the changes in the total allowance for losses for the three months ended March 31, 2019 and 2018: Table 5.2 For the Three Months Ended March 31, 2019 March 31, 2018 Allowance Reserve Total Allowance Reserve Total (in thousands) Beginning Balance $ 7,017 $ 2,167 9,184 $ 6,796 $ 2,070 8,866 Provision for/(release of) losses (264 ) (129 ) (393 ) (431 ) 21 (410 ) Charge-offs — — — — — — Ending Balance 6,753 2,038 8,791 6,365 2,091 8,456 The following tables present the changes in the total allowance for losses for the three months ended March 31, 2019 and 2018 by commodity type: Table 5.3 March 31, 2019 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) For the Three Months Ended: Beginning Balance $ 4,394 $ 2,126 $ 1,460 $ 474 $ 720 $ 10 $ 9,184 (Release of)/provision for losses (161 ) (192 ) (8 ) (61 ) 17 12 (393 ) Charge-offs — — — — — — — Ending Balance $ 4,233 $ 1,934 $ 1,452 $ 413 $ 737 $ 22 $ 8,791 March 31, 2018 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) For the Three Months Ended: Beginning Balance $ 4,081 $ 2,469 $ 1,211 $ 481 $ 606 $ 18 $ 8,866 (Release of)/provision for losses (288 ) 10 25 (68 ) (84 ) (5 ) (410 ) Charge-offs — — — — — — — Ending Balance $ 3,793 $ 2,479 $ 1,236 $ 413 $ 522 $ 13 $ 8,456
Schedule of Allowance for Losses by Impairment Method and Commodity	The following tables present the unpaid principal balances of loans held and loans underlying LTSPCs and off-balance sheet Farmer Mac Guaranteed Securities (excluding AgVantage securities) and the related total allowance for losses by impairment method and commodity type as of March 31, 2019 and December 31, 2018 : Table 5.4 As of March 31, 2019 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) Ending Balance: Collectively evaluated for impairment: On-balance sheet $ 2,450,803 $ 946,435 $ 699,333 $ 341,177 $ 12,036 $ 4,586 $ 4,454,370 Off-balance sheet 1,215,602 506,782 620,297 168,685 72,285 3,083 2,586,734 Total $ 3,666,405 $ 1,453,217 $ 1,319,630 $ 509,862 $ 84,321 $ 7,669 $ 7,041,104 Individually evaluated for impairment: On-balance sheet $ 86,299 $ 36,785 $ 27,064 $ 6,379 $ — $ — $ 156,527 Off-balance sheet 10,752 2,357 3,916 869 — 60 17,954 Total $ 97,051 $ 39,142 $ 30,980 $ 7,248 $ — $ 60 $ 174,481 Total Farm & Ranch loans: On-balance sheet $ 2,537,102 $ 983,220 $ 726,397 $ 347,556 $ 12,036 $ 4,586 $ 4,610,897 Off-balance sheet 1,226,354 509,139 624,213 169,554 72,285 3,143 2,604,688 Total $ 3,763,456 $ 1,492,359 $ 1,350,610 $ 517,110 $ 84,321 $ 7,729 $ 7,215,585 Allowance for Losses: Collectively evaluated for impairment: On-balance sheet $ 1,818 $ 958 $ 631 $ 265 $ 84 $ 16 $ 3,772 Off-balance sheet 665 108 236 26 653 5 1,693 Total $ 2,483 $ 1,066 $ 867 $ 291 $ 737 $ 21 $ 5,465 Individually evaluated for impairment: On-balance sheet $ 1,551 $ 816 $ 511 $ 103 $ — $ — $ 2,981 Off-balance sheet 199 52 74 19 — 1 345 Total $ 1,750 $ 868 $ 585 $ 122 $ — $ 1 $ 3,326 Total Farm & Ranch loans: On-balance sheet $ 3,369 $ 1,774 $ 1,142 $ 368 $ 84 $ 16 $ 6,753 Off-balance sheet 864 160 310 45 653 6 2,038 Total $ 4,233 $ 1,934 $ 1,452 $ 413 $ 737 $ 22 $ 8,791 As of December 31, 2018 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) Ending Balance: Collectively evaluated for impairment: On-balance sheet $ 2,452,803 $ 952,719 $ 705,752 $ 329,070 $ 12,097 $ 4,477 $ 4,456,918 Off-balance sheet 1,239,094 515,520 624,522 166,907 73,084 3,286 2,622,413 Total $ 3,691,897 $ 1,468,239 $ 1,330,274 $ 495,977 $ 85,181 $ 7,763 $ 7,079,331 Individually evaluated for impairment: On-balance sheet $ 66,432 $ 36,333 $ 21,361 $ 7,278 $ — $ — $ 131,404 Off-balance sheet 13,298 5,249 3,737 883 — 69 23,236 Total $ 79,730 $ 41,582 $ 25,098 $ 8,161 $ — $ 69 $ 154,640 Total Farm & Ranch loans: On-balance sheet $ 2,519,235 $ 989,052 $ 727,113 $ 336,348 $ 12,097 $ 4,477 $ 4,588,322 Off-balance sheet 1,252,392 520,769 628,259 167,790 73,084 3,355 2,645,649 Total $ 3,771,627 $ 1,509,821 $ 1,355,372 $ 504,138 $ 85,181 $ 7,832 $ 7,233,971 Allowance for Losses: Collectively evaluated for impairment: On-balance sheet $ 2,120 $ 822 $ 731 $ 303 $ 84 $ 4 $ 4,064 Off-balance sheet 668 170 207 29 636 5 1,715 Total $ 2,788 $ 992 $ 938 $ 332 $ 720 $ 9 $ 5,779 Individually evaluated for impairment: On-balance sheet $ 1,329 $ 1,065 $ 437 $ 122 $ — $ — $ 2,953 Off-balance sheet 277 69 85 20 — 1 452 Total $ 1,606 $ 1,134 $ 522 $ 142 $ — $ 1 $ 3,405 Total Farm & Ranch loans: On-balance sheet $ 3,449 $ 1,887 $ 1,168 $ 425 $ 84 $ 4 $ 7,017 Off-balance sheet 945 239 292 49 636 6 2,167 Total $ 4,394 $ 2,126 $ 1,460 $ 474 $ 720 $ 10 $ 9,184
Schedule of Impaired Financing Receivables	The following tables present by commodity type the unpaid principal balances, recorded investment, and specific allowance for losses related to impaired loans and the recorded investment in loans on nonaccrual status as of March 31, 2019 and December 31, 2018 : Table 5.5 As of March 31, 2019 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) Impaired Loans: With no specific allowance: Recorded investment $ 32,570 $ 15,531 $ 7,708 $ 1,605 $ — $ — $ 57,414 Unpaid principal balance 32,501 15,498 7,691 1,602 — — 57,292 With a specific allowance: Recorded investment (1) 64,666 23,690 23,331 5,657 — 60 117,404 Unpaid principal balance 64,550 23,644 23,289 5,646 — 60 117,189 Associated allowance 1,750 868 585 122 — 1 3,326 Total: Recorded investment 97,236 39,221 31,039 7,262 — 60 174,818 Unpaid principal balance 97,051 39,142 30,980 7,248 — 60 174,481 Associated allowance 1,750 868 585 122 — 1 3,326 Recorded investment of loans on nonaccrual status (2) $ 35,879 $ 12,843 $ 10,490 $ 3,760 $ — $ — $ 62,972 (1) Impairment analysis was performed in the aggregate in consideration of similar risk characteristics of the assets and historical statistics on $115.0 million ( 66% ) of impaired loans as of March 31, 2019 , which resulted in a specific allowance of $2.5 million . (2) Includes $15.8 million of loans that are less than 90 days delinquent but which have not met Farmer Mac's performance criteria for returning to accrual status. As of December 31, 2018 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) Impaired Loans: With no specific allowance: Recorded investment $ 20,734 $ 3,592 $ 5,764 $ 1,922 $ — $ — $ 32,012 Unpaid principal balance 20,632 3,573 5,737 1,912 — — 31,854 With a specific allowance: Recorded investment (1) 59,335 38,176 19,443 6,276 — 70 123,300 Unpaid principal balance 59,098 38,009 19,361 6,249 — 69 122,786 Associated allowance 1,606 1,134 522 142 — 1 3,405 Total: Recorded investment 80,069 41,768 25,207 8,198 — 70 155,312 Unpaid principal balance 79,730 41,582 25,098 8,161 — 69 154,640 Associated allowance 1,606 1,134 522 142 — 1 3,405 Recorded investment of loans on nonaccrual status (2) $ 26,611 $ 21,349 $ 8,803 $ 4,645 $ — $ — $ 61,408 (1) Impairment analysis was performed in the aggregate in consideration of similar risk characteristics of the assets and historical statistics on $120.9 million ( 78% ) of impaired loans as of December 31, 2018 , which resulted in a specific allowance of $2.7 million . (2) Includes $41.8 million of loans that are less than 90 days delinquent but which have not met Farmer Mac's performance criteria for returning to accrual status. The following table presents by commodity type the average recorded investment and interest income recognized on impaired loans for the three months ended March 31, 2019 and 2018 : Table 5.6 March 31, 2019 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) For the Three Months Ended: Average recorded investment in impaired loans $ 88,653 $ 40,495 $ 28,123 $ 7,730 $ — $ 65 $ 165,066 Income recognized on impaired loans 322 299 113 67 — — 801 March 31, 2018 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) For the Three Months Ended: Average recorded investment in impaired loans $ 72,017 $ 43,427 $ 22,274 $ 8,850 $ — $ 716 $ 147,284 Income recognized on impaired loans 392 172 79 55 — — 698
Schedule of Past Due Financing Receivables	As of March 31, 2019 , there were no delinquencies and no probable losses inherent in Farmer Mac's Rural Utilities loan portfolio and Farmer Mac had not experienced credit losses on any Rural Utilities loans. Table 5.7 90-Day Delinquencies (1) Net Credit (Recoveries)/Losses As of For the Three Months Ended March 31, 2019 December 31, 2018 March 31, 2019 March 31, 2018 (in thousands) On-balance sheet assets: Farm & Ranch: Loans $ 47,219 $ 19,577 $ — $ 16 Total on-balance sheet $ 47,219 $ 19,577 $ — $ 16 Off-balance sheet assets: Farm & Ranch: LTSPCs $ 5,147 $ 7,304 $ — $ — Total off-balance sheet $ 5,147 $ 7,304 $ — $ — Total $ 52,366 $ 26,881 $ — $ 16 (1) Includes loans and loans underlying off-balance sheet Farm & Ranch Guaranteed Securities and LTSPCs that are 90 days or more past due, in foreclosure, or in bankruptcy with at least one missed payment, excluding loans performing under either their original loan terms or a court-approved bankruptcy plan.
Schedule of Financing Receivable Credit Quality Indicators	The following tables present credit quality indicators related to Farm & Ranch loans held and loans underlying LTSPCs and off-balance sheet Farm & Ranch Guaranteed Securities as of March 31, 2019 and December 31, 2018 : Table 5.8 As of March 31, 2019 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) Credit risk profile by internally assigned grade (1) On-balance sheet: Acceptable $ 2,391,354 $ 901,684 $ 682,548 $ 331,910 $ 10,539 $ 4,586 $ 4,322,621 Special mention (2) 59,594 44,751 16,786 9,267 1,497 — 131,895 Substandard (3) 86,154 36,785 27,063 6,379 — — 156,381 Total on-balance sheet $ 2,537,102 $ 983,220 $ 726,397 $ 347,556 $ 12,036 $ 4,586 $ 4,610,897 Off-Balance Sheet: Acceptable $ 1,088,307 $ 476,644 $ 558,864 $ 165,020 $ 71,160 $ 2,477 $ 2,362,472 Special mention (2) 80,802 24,960 45,249 870 — — 151,881 Substandard (3) 57,245 7,535 20,100 3,664 1,125 666 90,335 Total off-balance sheet $ 1,226,354 $ 509,139 $ 624,213 $ 169,554 $ 72,285 $ 3,143 $ 2,604,688 Total Ending Balance: Acceptable $ 3,479,661 $ 1,378,328 $ 1,241,412 $ 496,930 $ 81,699 $ 7,063 $ 6,685,093 Special mention (2) 140,396 69,711 62,035 10,137 1,497 — 283,776 Substandard (3) 143,399 44,320 47,163 10,043 1,125 666 246,716 Total $ 3,763,456 $ 1,492,359 $ 1,350,610 $ 517,110 $ 84,321 $ 7,729 $ 7,215,585 Commodity analysis of past due loans (1) On-balance sheet $ 30,149 $ 7,929 $ 6,745 $ 2,396 $ — $ — $ 47,219 Off-balance sheet 4,360 196 100 491 — — 5,147 90 days or more past due $ 34,509 $ 8,125 $ 6,845 $ 2,887 $ — $ — $ 52,366 (1) Amounts represent unpaid principal balance of risk-rated loans, which is the basis Farmer Mac uses to analyze its portfolio, and recorded investment of past due loans. (2) Assets in the "Special mention" category generally have potential weaknesses due to performance issues but are currently considered to be adequately secured. (3) Substandard assets have a well-defined weakness or weaknesses and there is a distinct possibility that some loss will be sustained if deficiencies are not corrected. As of December 31, 2018 Crops Permanent Livestock Part-time Ag. Storage and Other Total (in thousands) Credit risk profile by internally assigned grade (1) On-balance sheet: Acceptable $ 2,381,853 $ 937,793 $ 679,253 $ 321,345 $ 10,604 $ 4,477 $ 4,335,325 Special mention (2) 71,096 14,926 26,499 7,725 1,493 — 121,739 Substandard (3) 66,286 36,333 21,361 7,278 — — 131,258 Total on-balance sheet $ 2,519,235 $ 989,052 $ 727,113 $ 336,348 $ 12,097 $ 4,477 $ 4,588,322 Off-Balance Sheet Acceptable $ 1,128,787 $ 469,479 $ 577,708 $ 162,730 $ 71,959 $ 2,656 $ 2,413,319 Special mention (2) 62,430 36,778 30,703 1,023 — — 130,934 Substandard (3) 61,175 14,512 19,848 4,037 1,125 699 101,396 Total off-balance sheet $ 1,252,392 $ 520,769 $ 628,259 $ 167,790 $ 73,084 $ 3,355 $ 2,645,649 Total Ending Balance: Acceptable $ 3,510,640 $ 1,407,272 $ 1,256,961 $ 484,075 $ 82,563 $ 7,133 $ 6,748,644 Special mention (2) 133,526 51,704 57,202 8,748 1,493 — 252,673 Substandard (3) 127,461 50,845 41,209 11,315 1,125 699 232,654 Total $ 3,771,627 $ 1,509,821 $ 1,355,372 $ 504,138 $ 85,181 $ 7,832 $ 7,233,971 Commodity analysis of past due loans (1) On-balance sheet $ 8,345 $ 2,997 $ 4,059 $ 4,176 $ — $ — $ 19,577 Off-balance sheet 6,476 197 — 631 — — 7,304 90 days or more past due $ 14,821 $ 3,194 $ 4,059 $ 4,807 $ — $ — $ 26,881 (1) Amounts represent unpaid principal balance of risk-rated loans, which is the basis Farmer Mac uses to analyze its portfolio, and recorded investment of past due loans. (2) Assets in the "Special mention" category generally have potential weaknesses due to performance issues but are currently considered to be adequately secured. (3) Substandard assets have a well-defined weakness or weaknesses and there is a distinct possibility that some loss will be sustained if deficiencies are not corrected.
Schedule of Concentration of Risk, by Risk Factor	The following table sets forth the geographic and commodity/collateral diversification, the range of original loan-to-value ratios, and the range in the size of borrower exposure for all Farm & Ranch loans held and loans underlying off-balance sheet Farm & Ranch Guaranteed Securities and LTSPCs as of March 31, 2019 and December 31, 2018: Table 5.9 As of March 31, 2019 December 31, 2018 (in thousands) By commodity/collateral type: Crops $ 3,763,456 $ 3,771,627 Permanent plantings 1,492,359 1,509,821 Livestock 1,350,610 1,355,372 Part-time farm 517,110 504,138 Ag. Storage and Processing 84,321 85,181 Other 7,729 7,832 Total $ 7,215,585 $ 7,233,971 By geographic region (1) : Northwest $ 847,896 $ 855,596 Southwest 2,282,664 2,273,184 Mid-North 2,287,199 2,296,073 Mid-South 893,639 883,279 Northeast 337,019 332,370 Southeast 567,168 593,469 Total $ 7,215,585 $ 7,233,971 By original loan-to-value ratio: 0.00% to 40.00% $ 1,304,411 $ 1,333,790 40.01% to 50.00% 1,831,552 1,811,166 50.01% to 60.00% 2,506,962 2,530,484 60.01% to 70.00% 1,250,982 1,244,823 70.01% to 80.00% (2) 298,001 289,427 80.01% to 90.00% (2) 23,677 24,281 Total $ 7,215,585 $ 7,233,971 By size of borrower exposure (3) : Less than $1,000,000 $ 2,446,989 $ 2,431,296 $1,000,000 to $4,999,999 2,736,397 2,755,996 $5,000,000 to $9,999,999 881,847 916,422 $10,000,000 to $24,999,999 604,712 601,349 $25,000,000 and greater 545,640 528,908 Total $ 7,215,585 $ 7,233,971 (1) Geographic regions: Northwest (AK, ID, MT, OR, WA, WY); Southwest (AZ, CA, CO, HI, NM, NV, UT); Mid-North (IA, IL, IN, MI, MN, NE, ND, SD, WI); Mid-South (AR, KS, LA, MO, OK, TX); Northeast (CT, DE, KY, MA, MD, ME, NH, NJ, NY, OH, PA, RI, VA, VT, WV); Southeast (AL, FL, GA, MS, NC, SC, TN). (2) Primarily part-time farm loans. Loans with original loan-to-value ratios of greater than 80% are required to have private mortgage insurance. (3) Includes multiple loans to the same borrower or borrower-related entities.

Guarantees and Long-Term Stan_2

Guarantees and Long-Term Standby Purchase Commitments (Tables)	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of Guarantor Obligations	The following table presents the maximum principal amount of potential undiscounted future payments that Farmer Mac could be required to make under all off-balance sheet Farmer Mac Guaranteed Securities as of March 31, 2019 and December 31, 2018, not including offsets provided by any recourse provisions, recoveries from third parties, or collateral for the underlying loans: Table 6.1 Outstanding Balance of Off-Balance Sheet Farmer Mac Guaranteed Securities As of March 31, 2019 As of December 31, 2018 (in thousands) Farm & Ranch: Guaranteed Securities $ 128,221 $ 135,862 USDA Guarantees: Farmer Mac Guaranteed USDA Securities 376,487 367,684 Institutional Credit: AgVantage Securities 9,898 9,898 Revolving floating rate AgVantage facility (1) 300,000 300,000 Total off-balance sheet Farmer Mac Guaranteed Securities $ 814,606 $ 813,444 (1) Relates to a revolving floating rate AgVantage facility subject to specified contractual terms. Farmer Mac receives a fixed fee based on the full dollar amount of the facility.
Schedule of Cash Flows Related To Transfer of Securitizations	The following table summarizes the significant cash flows received from and paid to trusts used for Farmer Mac securitizations: Table 6.2 For the Three Months Ended March 31, 2019 March 31, 2018 (in thousands) Proceeds from new securitizations $ 116,708 $ 131,202 Guarantee fees received 442 546 Purchases of assets from the trusts (1) (4,721 ) (721 ) (1) Previously reported as loans held for investment in consolidated trust, at amortized cost, on the consolidated balance sheets. Upon purchase, these loans were reclassified to loans held for investment on the consolidated balance sheets.

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring	The following tables present information about Farmer Mac's assets and liabilities measured at fair value on a recurring and non-recurring basis as of March 31, 2019 and December 31, 2018, respectively, and indicate the fair value hierarchy of the valuation techniques used by Farmer Mac to determine such fair value: Table 8.1 Assets and Liabilities Measured at Fair Value as of March 31, 2019 Level 1 Level 2 Level 3 Total (in thousands) Recurring: Assets: Investment Securities: Available-for-sale: Floating rate auction-rate certificates backed by Government guaranteed student loans $ — $ — $ 18,912 $ 18,912 Floating rate asset-backed securities — 27,451 — 27,451 Floating rate Government/GSE guaranteed mortgage-backed securities — 1,376,237 — 1,376,237 Fixed rate GSE guaranteed mortgage-backed securities — 393 — 393 Fixed rate U.S. Treasuries 1,034,985 — — 1,034,985 Total Investment Securities 1,034,985 1,404,081 18,912 2,457,978 Farmer Mac Guaranteed Securities: Available-for-sale: AgVantage — — 6,441,624 6,441,624 Total Farmer Mac Guaranteed Securities — — 6,441,624 6,441,624 USDA Securities: Trading — — 9,487 9,487 Total USDA Securities — — 9,487 9,487 Financial derivatives — 6,053 — 6,053 Total Assets at fair value $ 1,034,985 $ 1,410,134 $ 6,470,023 $ 8,915,142 Liabilities: Financial derivatives $ 94 $ 22,109 $ — $ 22,203 Total Liabilities at fair value $ 94 $ 22,109 $ — $ 22,203 Non-recurring: Assets: Loans held for investment $ — $ — $ 339 $ 339 REO — — 1,253 1,253 Total Non-recurring Assets at fair value $ — $ — $ 1,592 $ 1,592 Assets and Liabilities Measured at Fair Value as of December 31, 2018 Level 1 Level 2 Level 3 Total (in thousands) Recurring: Assets: Investment Securities: Available-for-sale: Floating rate auction-rate certificates backed by Government guaranteed student loans $ — $ — $ 18,715 $ 18,715 Floating rate asset-backed securities — 28,678 — 28,678 Floating rate Government/GSE guaranteed mortgage-backed securities — 1,377,454 — 1,377,454 Fixed rate GSE guaranteed mortgage-backed securities — 403 — 403 Fixed rate U.S. Treasuries 792,602 — — 792,602 Total available-for-sale 792,602 1,406,535 18,715 2,217,852 Farmer Mac Guaranteed Securities: Available-for-sale: AgVantage — — 5,974,497 5,974,497 Total Farmer Mac Guaranteed Securities — — 5,974,497 5,974,497 USDA Securities: Trading — — 9,999 9,999 Total USDA Securities — — 9,999 9,999 Financial derivatives — 7,487 — 7,487 Total Assets at fair value $ 792,602 $ 1,414,022 $ 6,003,211 $ 8,209,835 Liabilities: Financial derivatives $ 188 $ 19,445 $ — $ 19,633 Total Liabilities at fair value $ 188 $ 19,445 $ — $ 19,633 Non-recurring: Assets: Loans held for investment $ — $ — $ 317 $ 317 REO — — 128 128 Total Non-recurring Assets at fair value $ — $ — $ 445 $ 445
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following tables present additional information about assets and liabilities measured at fair value on a recurring basis for which Farmer Mac has used significant unobservable inputs to determine fair value. Net transfers in and/or out of Level 3 are based on the fair values of the assets and liabilities as of the beginning of the reporting period. There were no liabilities measured at fair value using significant unobservable inputs during the three months ended March 31, 2019 and 2018. Table 8.2 Level 3 Assets and Liabilities Measured at Fair Value for the Three Months Ended March 31, 2019 Beginning Purchases Sales Settlements Realized and Unrealized Gains Ending (in thousands) Recurring: Assets: Investment Securities: Available-for-sale: Floating rate auction-rate certificates backed by Government guaranteed student loans $ 18,715 $ — $ — $ — $ — $ 197 $ 18,912 Total available-for-sale 18,715 — — — — 197 18,912 Farmer Mac Guaranteed Securities: Available-for-sale: AgVantage 5,974,497 776,332 — (371,733 ) 59,352 3,176 6,441,624 Total available-for-sale 5,974,497 776,332 — (371,733 ) 59,352 3,176 6,441,624 USDA Securities: Available-for-sale — 18,928 (18,928 ) — — — — Trading 9,999 — — (556 ) 44 — 9,487 Total USDA Securities 9,999 18,928 (18,928 ) (556 ) 44 — 9,487 Total Assets at fair value $ 6,003,211 $ 795,260 $ (18,928 ) $ (372,289 ) $ 59,396 $ 3,373 $ 6,470,023 Level 3 Assets and Liabilities Measured at Fair Value for the Three Months Ended March 31, 2018 Beginning Cumulative Effect from Change in Hedge Accounting Purchases Sales Settlements Realized and Unrealized Gains/(Losses) included in Other Ending (in thousands) Recurring: Assets: Investment Securities: Available-for-sale: Floating rate auction-rate certificates backed by Government guaranteed student loans $ 18,814 $ — $ — $ — $ — $ — $ 196 $ 19,010 Fixed rate GSE guaranteed mortgage-backed securities $ 4,333 $ — $ — $ — $ (109 ) $ — $ (104 ) $ 4,120 Total available-for-sale 23,147 — — — (109 ) — 92 23,130 Farmer Mac Guaranteed Securities: Available-for-sale: AgVantage 5,471,914 487 655,447 — (290,268 ) (18,948 ) 20,755 5,839,387 Total available-for-sale 5,471,914 487 655,447 — (290,268 ) (18,948 ) 20,755 5,839,387 USDA Securities: Available-for-sale — — 34,293 (34,293 ) — — — — Trading (1) 13,515 — — — (1,973 ) 16 — 11,558 Total USDA Securities 13,515 — 34,293 (34,293 ) (1,973 ) 16 — 11,558 Total Assets at fair value $ 5,508,576 $ 487 $ 689,740 $ (34,293 ) $ (292,350 ) $ (18,932 ) $ 20,847 $ 5,874,075 (1) Includes unrealized gains of $0.1 million attributable to assets still held as of March 31, 2018 that are recorded in " Gains on trading securities ."
Fair Value Inputs, Assets and Liabilities, Quantitative Information	The following tables present additional information about the significant unobservable inputs, such as discount rates and constant prepayment rates ("CPR"), used in the fair value measurements categorized in level 3 of the fair value hierarchy as of March 31, 2019 and December 31, 2018. Table 8.3 As of March 31, 2019 Financial Instruments Fair Value Valuation Technique Unobservable Input Range (Weighted-Average) (in thousands) Assets: Investment securities: Floating rate auction-rate certificates backed by Government guaranteed student loans $ 18,912 Indicative bids Range of broker quotes 96.0% - 96.0% (96.0%) Farmer Mac Guaranteed Securities: AgVantage $ 6,441,624 Discounted cash flow Discount rate 1.7% - 4.2% (3.1%) USDA Securities $ 9,487 Discounted cash flow Discount rate 3.1% - 5.2% (4.9%) CPR 7% - 19% (17%) As of December 31, 2018 Financial Instruments Fair Value Valuation Technique Unobservable Input Range (Weighted-Average) (in thousands) Assets: Investment securities: Floating rate auction-rate certificates backed by Government guaranteed student loans $ 18,715 Indicative bids Range of broker quotes 95.0% - 95.0% (95.0%) Farmer Mac Guaranteed Securities: AgVantage $ 5,974,497 Discounted cash flow Discount rate 3.0% - 4.4% (3.3%) USDA Securities $ 9,999 Discounted cash flow Discount rate 3.2% - 5.2% (4.9%) CPR 7% - 17% (16%)
Fair Value, by Balance Sheet Grouping	The following table sets forth the estimated fair values and carrying values for financial assets, liabilities, and guarantees and commitments as of March 31, 2019 and December 31, 2018: Table 8.4 As of March 31, 2019 As of December 31, 2018 Fair Value Carrying Fair Value Carrying (in thousands) Financial assets: Cash and cash equivalents $ 376,122 $ 376,122 $ 425,256 $ 425,256 Investment securities 2,503,936 2,503,010 2,263,446 2,262,884 Farmer Mac Guaranteed Securities 8,483,379 8,482,039 8,061,903 8,071,115 USDA Securities 2,113,391 2,134,799 2,113,946 2,176,173 Loans 6,092,347 6,040,088 5,512,781 5,515,052 Financial derivatives 6,053 6,053 7,487 7,487 Guarantee and commitment fees receivable: LTSPCs 36,049 36,660 37,461 36,870 Farmer Mac Guaranteed Securities 3,073 3,253 3,424 3,496 Financial liabilities: Notes payable: Due within one year 8,564,034 8,571,615 7,744,388 7,757,050 Due after one year 8,726,760 8,679,287 8,473,558 8,486,647 Debt securities of consolidated trusts held by third parties 1,575,585 1,567,195 1,501,754 1,528,957 Financial derivatives 22,203 22,203 19,633 19,633 Guarantee and commitment obligations: LTSPCs 35,026 35,637 36,471 35,880 Farmer Mac Guaranteed Securities 2,472 2,651 2,731 2,803

Business Segment Reporting (Tab

Business Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables present core earnings for Farmer Mac's operating segments and a reconciliation to consolidated net income for the three months ended March 31, 2019 and 2018 : Table 9.1 Core Earnings by Business Segment For the Three Months Ended March 31, 2019 Farm & Ranch USDA Guarantees Rural Utilities Institutional Credit Corporate Reconciling Consolidated Net Income (in thousands) Net interest income $ 15,282 $ 4,442 $ (274 ) $ 18,187 $ 2,962 $ — $ 40,599 Less: reconciling adjustments (1)(2)(3) (2,545 ) (478 ) 3,507 (1,814 ) (468 ) 1,798 — Net effective spread 12,737 3,964 3,233 16,373 2,494 1,798 — Guarantee and commitment fees (2) 4,744 224 363 88 — (1,906 ) 3,513 Other income/(expense) (3) 480 — 7 — 22 (332 ) 177 Non-interest income/(loss) 5,224 224 370 88 22 (2,238 ) 3,690 Release of loan losses 264 — — — — — 264 Release of reserve for losses 129 — — — — — 129 Other non-interest expense (4,799 ) (1,428 ) (866 ) (2,159 ) (3,638 ) — (12,890 ) Non-interest expense (4) (4,670 ) (1,428 ) (866 ) (2,159 ) (3,638 ) — (12,761 ) Core earnings before income taxes 13,555 2,760 2,737 14,302 (1,122 ) (440 ) (5) 31,792 Income tax (expense)/benefit (2,847 ) (580 ) (575 ) (3,003 ) 290 93 (6,622 ) Core earnings before preferred stock dividends and attribution of income to non-controlling interest 10,708 2,180 2,162 11,299 (832 ) (347 ) (5) 25,170 Preferred stock dividends — — — — (3,296 ) — (3,296 ) Segment core earnings/(losses) $ 10,708 $ 2,180 $ 2,162 $ 11,299 $ (4,128 ) $ (347 ) (5) $ 21,874 Total assets at carrying value $ 4,698,250 $ 2,191,896 $ 1,443,393 $ 8,502,084 $ 2,962,154 $ — $ 19,797,777 Total on- and off-balance sheet program assets at principal balance $ 7,215,585 $ 2,484,779 $ 2,074,714 $ 8,731,835 $ — $ — $ 20,506,913 (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 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. (3) Includes the reclassification of interest expense related to interest rate swaps not designated as hedges, which are included in " Losses on financial derivatives " on the consolidated financial statements, to determine the effective funding cost for each operating segment. (4) Includes directly attributable costs and an allocation of indirectly attributable costs based on employee headcount. (5) 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. Core Earnings by Business Segment For the Three Months Ended March 31, 2018 Farm & Ranch USDA Guarantees Rural Institutional Credit Corporate Reconciling Adjustments Consolidated Net Income (in thousands) Net interest income $ 14,941 $ 5,070 $ 2,537 $ 17,832 $ 2,849 $ — $ 43,229 Less: reconciling adjustments (1)(2)(3) (2,401 ) (670 ) 413 (3,008 ) (462 ) 6,128 — Net effective spread 12,540 4,400 2,950 14,824 2,387 6,128 — Guarantee and commitment fees (2) 4,378 166 449 90 — (1,584 ) 3,499 Other income/(expense) (3) 557 5 5 — (139 ) (3,688 ) (3,260 ) Non-interest income/(loss) 4,935 171 454 90 (139 ) (5,272 ) 239 Release of loan losses 431 — — — — — 431 Provision for reserve for losses (21 ) — — — — — (21 ) Other non-interest expense (4,520 ) (1,193 ) (673 ) (1,846 ) (3,389 ) — (11,621 ) Non-interest expense (4) (4,541 ) (1,193 ) (673 ) (1,846 ) (3,389 ) — (11,642 ) Core earnings before income taxes 13,365 3,378 2,731 13,068 (1,141 ) 856 (5) 32,257 Income tax (expense)/benefit (2,807 ) (709 ) (574 ) (2,744 ) 575 (179 ) (6,438 ) Core earnings before preferred stock dividends and attribution of income to non-controlling interest 10,558 2,669 2,157 10,324 (566 ) 677 (5) 25,819 Preferred stock dividends — — — — (3,295 ) — (3,295 ) Segment core earnings/(losses) $ 10,558 $ 2,669 $ 2,157 $ 10,324 $ (3,861 ) $ 677 (5) $ 22,524 Total assets at carrying value $ 4,306,960 $ 2,195,714 $ 1,043,335 $ 8,066,231 $ 2,784,996 $ — $ 18,397,236 Total on- and off-balance sheet program assets at principal balance $ 6,932,002 $ 2,391,739 $ 1,729,797 $ 8,325,905 $ — $ — $ 19,379,443 (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 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. (3) Includes the reclassification of interest expense related to interest rate swaps not designated as hedges, which are included in " Losses on financial derivatives " on the consolidated financial statements, to determine the effective funding cost for each operating segment. (4) Includes directly attributable costs and an allocation of indirectly attributable costs based on employee headcount. (5) 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.

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details)	Mar. 31, 2019subsidiary
Accounting Policies [Abstract]
Number of subsidiaries	2

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Consolidation of Variable Interest Entities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Variable Interest Entity [Line Items]
Loans held for investment in consolidated trusts, at amortized cost	$ 1,566,330	$ 1,517,101
Debt securities of consolidated trusts held by third parties	1,567,195	1,528,957
Farm & Ranch [Member]
Variable Interest Entity [Line Items]
Borrower remittances	900	11,900
USDA Guarantees [Member]
Variable Interest Entity [Line Items]
Unamortized premiums and discounts	200	200
On-balance sheet [Member]
Variable Interest Entity [Line Items]
Loans held for investment in consolidated trusts, at amortized cost	1,566,330	1,517,101
Debt securities of consolidated trusts held by third parties	1,567,195	1,528,957
Off-balance sheet [Member] | Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Unconsolidated VIEs Maximum exposure to loss	504,708	503,546
Farmer Mac Guaranteed Securities [Member] | On-balance sheet [Member] | Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Unconsolidated VIEs Carrying value	27,031	27,627
Unconsolidated VIEs Maximum exposure to loss	26,794	27,383
Investment Securities [Member]
Variable Interest Entity [Line Items]
Unamortized premiums and discounts	4,280	3,489
Investment Securities [Member] | On-balance sheet [Member] | Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Unconsolidated VIEs Carrying value	1,026,064	1,000,942
Unconsolidated VIEs Maximum exposure to loss	1,030,108	1,003,968
Operating Segments [Member] | On-balance sheet [Member] | Farm & Ranch [Member]
Variable Interest Entity [Line Items]
Loans held for investment in consolidated trusts, at amortized cost	1,566,330	1,517,101
Debt securities of consolidated trusts held by third parties	1,567,195	1,528,957
Operating Segments [Member] | On-balance sheet [Member] | USDA Guarantees [Member]
Variable Interest Entity [Line Items]
Loans held for investment in consolidated trusts, at amortized cost	0	0
Debt securities of consolidated trusts held by third parties	0	0
Operating Segments [Member] | On-balance sheet [Member] | Rural Utilities [Member]
Variable Interest Entity [Line Items]
Loans held for investment in consolidated trusts, at amortized cost	0	0
Debt securities of consolidated trusts held by third parties	0	0
Operating Segments [Member] | On-balance sheet [Member] | Institutional Credit [Member]
Variable Interest Entity [Line Items]
Loans held for investment in consolidated trusts, at amortized cost	0	0
Debt securities of consolidated trusts held by third parties	0	0
Operating Segments [Member] | Off-balance sheet [Member] | Farm & Ranch [Member] | Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Unconsolidated VIEs Maximum exposure to loss	128,221	135,862
Operating Segments [Member] | Off-balance sheet [Member] | USDA Guarantees [Member] | Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Unconsolidated VIEs Maximum exposure to loss	376,487	367,684
Operating Segments [Member] | Off-balance sheet [Member] | Rural Utilities [Member] | Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Unconsolidated VIEs Maximum exposure to loss	0	0
Operating Segments [Member] | Off-balance sheet [Member] | Institutional Credit [Member] | Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Unconsolidated VIEs Maximum exposure to loss	0	0
Operating Segments [Member] | Farmer Mac Guaranteed Securities [Member] | On-balance sheet [Member] | Farm & Ranch [Member] | Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Unconsolidated VIEs Carrying value	0	0
Unconsolidated VIEs Maximum exposure to loss	0	0
Operating Segments [Member] | Farmer Mac Guaranteed Securities [Member] | On-balance sheet [Member] | USDA Guarantees [Member] | Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Unconsolidated VIEs Carrying value	27,031	27,627
Unconsolidated VIEs Maximum exposure to loss	26,794	27,383
Operating Segments [Member] | Farmer Mac Guaranteed Securities [Member] | On-balance sheet [Member] | Rural Utilities [Member] | Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Unconsolidated VIEs Carrying value	0	0
Unconsolidated VIEs Maximum exposure to loss	0	0
Operating Segments [Member] | Farmer Mac Guaranteed Securities [Member] | On-balance sheet [Member] | Institutional Credit [Member] | Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Unconsolidated VIEs Carrying value	0	0
Unconsolidated VIEs Maximum exposure to loss	0	0
Operating Segments [Member] | Investment Securities [Member] | On-balance sheet [Member] | Farm & Ranch [Member] | Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Unconsolidated VIEs Carrying value	0	0
Unconsolidated VIEs Maximum exposure to loss	0	0
Operating Segments [Member] | Investment Securities [Member] | On-balance sheet [Member] | USDA Guarantees [Member] | Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Unconsolidated VIEs Carrying value	0	0
Unconsolidated VIEs Maximum exposure to loss	0	0
Operating Segments [Member] | Investment Securities [Member] | On-balance sheet [Member] | Rural Utilities [Member] | Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Unconsolidated VIEs Carrying value	0	0
Unconsolidated VIEs Maximum exposure to loss	0	0
Operating Segments [Member] | Investment Securities [Member] | On-balance sheet [Member] | Institutional Credit [Member] | Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Unconsolidated VIEs Carrying value	0	0
Unconsolidated VIEs Maximum exposure to loss	0	0
Corporate, Non-Segment [Member] | On-balance sheet [Member]
Variable Interest Entity [Line Items]
Loans held for investment in consolidated trusts, at amortized cost	0	0
Debt securities of consolidated trusts held by third parties	0	0
Corporate, Non-Segment [Member] | Off-balance sheet [Member] | Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Unconsolidated VIEs Maximum exposure to loss	0	0
Corporate, Non-Segment [Member] | Farmer Mac Guaranteed Securities [Member] | On-balance sheet [Member] | Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Unconsolidated VIEs Carrying value	0	0
Unconsolidated VIEs Maximum exposure to loss	0	0
Corporate, Non-Segment [Member] | Investment Securities [Member] | On-balance sheet [Member] | Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Unconsolidated VIEs Carrying value	1,026,064	1,000,942
Unconsolidated VIEs Maximum exposure to loss	$ 1,030,108	$ 1,003,968

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Basic EPS
Net Income	$ 21,874	$ 22,524
Weighted-Average Shares (in shares)	10,670,000	10,622,000
Dollars per share (in dollars per share)	$ 2.05	$ 2.12
Effect of dilutive securities
SARs and restricted stock (in shares)	107,000	119,000
SARs and restricted stock (in dollars per share)	$ (0.02)	$ (0.02)
Net income, Diluted EPS	$ 21,874	$ 22,524
Weighted-Average Shares, Diluted EPS (in shares)	10,777,000	10,741,000
Diluted EPS (in dollars per share)	$ 2.03	$ 2.10
Stock Appreciation Rights [Member]
Effect of dilutive securities
Antidilutive securities excluded from earnings per share (in shares)	56,976	56,976
Restricted Stock [Member]
Effect of dilutive securities
Antidilutive securities excluded from earnings per share (in shares)		25,062
Performance Shares [Member]
Effect of dilutive securities
Antidilutive securities excluded from earnings per share (in shares)	12,284	13,138

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Schedule of Accumulated Other Comprehensive Income, Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2019	Jan. 01, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 752,557	$ 708,146
Cumulative effect from change in hedge accounting				$ 27
Adjusted Beginning Balance				708,644
Other comprehensive income/(loss) before reclassifications	(777)	23,240
Amounts reclassified from AOCI	(2,925)	(2,241)
Other comprehensive (loss)/income net of tax	(3,702)	20,999
Ending balance	763,298	745,266
Total [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	24,956	51,085
Adjusted Beginning Balance			$ 24,956	51,112
Other comprehensive (loss)/income net of tax	(3,702)	20,999
Ending balance	21,254	72,111
Accumulated Net Investment Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member] | Available-for-sale Securities [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(25,360)	(1,676)
Adjusted Beginning Balance			(25,360)	(1,676)
Other comprehensive income/(loss) before reclassifications	3,318	18,187
Amounts reclassified from AOCI	(758)	(1,417)
Other comprehensive (loss)/income net of tax	2,560	16,770
Ending balance	(22,800)	15,094
Accumulated Net Investment Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member] | Held-to-maturity Securities [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	43,443	48,236
Adjusted Beginning Balance			43,443	48,236
Other comprehensive income/(loss) before reclassifications	0	0
Amounts reclassified from AOCI	(1,787)	(1,035)
Other comprehensive (loss)/income net of tax	(1,787)	(1,035)
Ending balance	41,656	47,201
Cash Flow Hedge [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	6,873	4,525
Cumulative effect from change in hedge accounting				27
Adjusted Beginning Balance			$ 6,873	$ 4,552
Other comprehensive income/(loss) before reclassifications	(4,095)	5,053
Amounts reclassified from AOCI	(380)	211
Other comprehensive (loss)/income net of tax	(4,475)	5,264
Ending balance	$ 2,398	$ 9,816

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Schedule of Reclassification out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Before Tax
Unrealized holding gains on available-for-sale-securities	$ 4,200	$ 23,022
Other comprehensive (loss)/income before tax	(4,686)	26,581
Provision (Benefit)
Unrealized holding gains on available-for-sale-securities	882	4,835
Other comprehensive (loss)/income	(984)	5,582
After Tax
Unrealized holding gains on available-for-sale-securities	3,318	18,187
Less reclassification adjustments included in	2,925	2,241
Other comprehensive (loss)/income net of tax	(3,702)	20,999
Unrealized (losses)/gains on cash flow hedges	(777)	23,240
Cash Flow Hedge [Member]
Before Tax
Other Comprehensive Income (Loss), before Reclassifications, before Tax	(5,184)	6,396
Other comprehensive (loss)/income before tax	(5,665)	6,663
Provision (Benefit)
Other comprehensive (loss)/income	(1,190)	1,399
Unrealized (losses)/gains on cash flow hedges	(1,089)	1,343
After Tax
Less reclassification adjustments included in	380	(211)
Other comprehensive (loss)/income net of tax	(4,475)	5,264
Unrealized (losses)/gains on cash flow hedges	(4,095)	5,053
Available-for-sale Securities [Member] | Accumulated Net Investment Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member]
Before Tax
Other comprehensive (loss)/income before tax	3,241	21,228
Provision (Benefit)
Other comprehensive (loss)/income	681	4,458
After Tax
Less reclassification adjustments included in	758	1,417
Other comprehensive (loss)/income net of tax	2,560	16,770
Unrealized (losses)/gains on cash flow hedges	3,318	18,187
Held-to-maturity Securities [Member] | Accumulated Net Investment Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member]
Before Tax
Other comprehensive (loss)/income before tax	(2,262)	(1,310)
Provision (Benefit)
Other comprehensive (loss)/income	(475)	(275)
After Tax
Less reclassification adjustments included in	1,787	1,035
Other comprehensive (loss)/income net of tax	(1,787)	(1,035)
Unrealized (losses)/gains on cash flow hedges	0	0
Interest Income [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Available-for-sale Securities [Member] | Accumulated Net Investment Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member]
Before Tax
Less reclassification adjustments included in	(953)	(1,787)
Provision (Benefit)
Less reclassification adjustments included in	(200)	(375)
After Tax
Less reclassification adjustments included in	(753)	(1,412)
Interest Income [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Held-to-maturity Securities [Member] | Accumulated Net Investment Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member]
Before Tax
Less reclassification adjustments included in	(2,262)	(1,310)
Provision (Benefit)
Less reclassification adjustments included in	(475)	(275)
After Tax
Less reclassification adjustments included in	(1,787)	(1,035)
Other Income [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Available-for-sale Securities [Member] | Accumulated Net Investment Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member]
Before Tax
Less reclassification adjustments included in	(6)	(7)
Provision (Benefit)
Less reclassification adjustments included in	(1)	(2)
After Tax
Less reclassification adjustments included in	(5)	(5)
Net interest income [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Cash Flow Hedge [Member]
Before Tax
Less reclassification adjustments included in	(481)	267
Provision (Benefit)
Less reclassification adjustments included in	(101)	56
After Tax
Less reclassification adjustments included in	$ (380)	$ 211

Investment Securities - Schedul

Investment Securities - Schedule of Investment Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Investment Securities [Member]
Available-for-sale:
Amount Outstanding	$ 2,467,255	$ 2,226,409
Unamortized Premium/(Discount)	(4,280)	(3,489)
Amortized Cost	2,462,975	2,222,920
Unrealized Gains	1,354	860
Unrealized Losses	(6,351)	(5,928)
Fair Value	2,457,978	2,217,852
Total investment securities
Amount Outstanding	2,512,287	2,271,441
Amortized Cost	2,508,007	2,267,952
Unrealized Gains	2,280	1,422
Unrealized Losses	(6,351)	(5,928)
Fair Value	2,503,936	2,263,446
Available-for-sale Securities [Member] | Investment Securities [Member]
Available-for-sale:
Unamortized Premium/(Discount)	(4,280)	(3,489)
Floating Interest Rate [Member] | Floating rate auction-rate certificates backed by Government guaranteed student loans
Available-for-sale:
Amount Outstanding	19,700	19,700
Amortized Cost	19,700	19,700
Unrealized Gains	0	0
Unrealized Losses	(788)	(985)
Fair Value	18,912	18,715
Floating Interest Rate [Member] | Asset-backed Securities [Member]
Available-for-sale:
Amount Outstanding	27,726	28,940
Amortized Cost	27,596	28,804
Unrealized Gains	0	2
Unrealized Losses	(145)	(128)
Fair Value	27,451	28,678
Floating Interest Rate [Member] | Government/GSE Guaranteed Mortgage Backed Securities [Member]
Available-for-sale:
Amount Outstanding	1,379,534	1,379,472
Amortized Cost	1,380,927	1,381,000
Unrealized Gains	626	721
Unrealized Losses	(5,316)	(4,267)
Fair Value	1,376,237	1,377,454
Floating Interest Rate [Member] | Available-for-sale Securities [Member] | Floating rate auction-rate certificates backed by Government guaranteed student loans
Available-for-sale:
Unamortized Premium/(Discount)	0	0
Floating Interest Rate [Member] | Available-for-sale Securities [Member] | Asset-backed Securities [Member]
Available-for-sale:
Unamortized Premium/(Discount)	(130)	(136)
Floating Interest Rate [Member] | Available-for-sale Securities [Member] | Government/GSE Guaranteed Mortgage Backed Securities [Member]
Available-for-sale:
Unamortized Premium/(Discount)	1,393	1,528
Fixed Interest Rate [Member] | Government/GSE Guaranteed Mortgage Backed Securities [Member]
Available-for-sale:
Amount Outstanding	370	384
Amortized Cost	370	385
Unrealized Gains	23	18
Unrealized Losses	0	0
Fair Value	393	403
Held-to-maturity:
Amount Outstanding	45,032	45,032
Amortized Cost	45,032	45,032
Unrealized Gains	926	562
Unrealized Losses	0	0
Fair Value	$ 45,958	$ 45,594
Total investment securities
Held-to-maturity investment securities weighted average yield	3.80%	3.50%
Fixed Interest Rate [Member] | US Treasury Securities [Member]
Available-for-sale:
Amount Outstanding	$ 1,039,925	$ 797,913
Amortized Cost	1,034,382	793,031
Unrealized Gains	705	119
Unrealized Losses	(102)	(548)
Fair Value	1,034,985	792,602
Fixed Interest Rate [Member] | Available-for-sale Securities [Member] | Government/GSE Guaranteed Mortgage Backed Securities [Member]
Available-for-sale:
Unamortized Premium/(Discount)	0	1
Fixed Interest Rate [Member] | Available-for-sale Securities [Member] | US Treasury Securities [Member]
Available-for-sale:
Unamortized Premium/(Discount)	(5,543)	(4,882)
Fixed Interest Rate [Member] | Held-to-maturity Securities [Member] | Government/GSE Guaranteed Mortgage Backed Securities [Member]
Available-for-sale:
Unamortized Premium/(Discount)	$ 0	$ 0

Investment Securities - Unreali

Investment Securities - Unrealized Loss Position (Details) $ in Thousands	Mar. 31, 2019USD ($)position	Dec. 31, 2018USD ($)position
Unrealized loss position for less than 12 months
Fair Value	$ 984,827	$ 1,433,453
Unrealized Loss	(3,465)	(3,281)
Unrealized loss position for more than 12 months
Fair Value	536,464	315,786
Unrealized Loss	$ (2,886)	$ (2,647)
Investment Securities [Member]
Unrealized loss position for less than 12 months
Number of securities in loss position | position	48	72
Unrealized loss position for more than 12 months
Number of securities in loss position | position	63	48
Floating Interest Rate [Member] | Floating rate auction-rate certificates backed by Government guaranteed student loans
Unrealized loss position for less than 12 months
Fair Value	$ 0	$ 0
Unrealized Loss	0	0
Unrealized loss position for more than 12 months
Fair Value	18,912	18,715
Unrealized Loss	(788)	(985)
Floating Interest Rate [Member] | Asset-backed Securities [Member]
Unrealized loss position for less than 12 months
Fair Value	6,179	6,456
Unrealized Loss	(56)	(38)
Unrealized loss position for more than 12 months
Fair Value	18,173	19,058
Unrealized Loss	(89)	(90)
Floating Interest Rate [Member] | Government/GSE Guaranteed Mortgage Backed Securities [Member]
Unrealized loss position for less than 12 months
Fair Value	715,948	927,416
Unrealized Loss	(3,368)	(2,907)
Unrealized loss position for more than 12 months
Fair Value	381,997	196,416
Unrealized Loss	(1,948)	(1,360)
Fixed Interest Rate [Member] | US Treasury Securities [Member]
Unrealized loss position for less than 12 months
Fair Value	262,700	499,581
Unrealized Loss	(41)	(336)
Unrealized loss position for more than 12 months
Fair Value	117,382	81,597
Unrealized Loss	$ (61)	$ (212)

Investment Securities - Narrati

Investment Securities - Narrative (Details) - Investment Securities [Member] - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Average percent of amortized cost for securities in unrealized loss positions for more than 12 months	99.50%
Other-than-temporary impairment	$ 0	$ 0

Investment Securities - Debt Ma

Investment Securities - Debt Maturities (Details) - Investment Securities [Member] - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Amortized Cost
Due within one year	$ 982,026
Due after one year through five years	272,477
Due after five years through ten years	650,974
Due after ten years	557,498
Amortized Cost	2,462,975	$ 2,222,920
Fair Value
Due within one year	982,554
Due after one year through five years	272,528
Due after five years through ten years	647,882
Due after ten years	555,014
Total	$ 2,457,978	$ 2,217,852
Weighted- Average Yield
Due within one year	1.40%
Due after one year through five years	2.78%
Due after five years through ten years	2.87%
Due after ten years	3.08%
Total	2.32%

Farmer Mac Guaranteed Securit_3

Farmer Mac Guaranteed Securities and USDA Securities - Farmer Mac Guaranteed Securities and USDA Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Farmer Mac Guaranteed Securities and USDA Securities [Member]
Held-to-maturity:
Unpaid Principal Balance	$ 4,112,824	$ 4,207,531
Amortized Cost	4,165,727	4,262,792
Unrealized Gains	7,273	2,735
Unrealized Losses	(27,341)	(74,175)
Fair Value	4,145,659	4,191,352
Farmer Mac Guaranteed Securities [Member]
Held-to-maturity:
Unpaid Principal Balance	2,040,413	2,096,568
Amortized Cost	2,040,415	2,096,618
Unrealized Gains	7,272	2,735
Unrealized Losses	(5,932)	(11,948)
Fair Value	2,041,755	2,087,405
Available-for-sale:
Amortized Cost	6,408,128
Fair Value	6,441,624
USDA Securities [Member]
Trading:
Fair Value	9,487	9,999
Held-to-maturity Securities [Member] | Farmer Mac Guaranteed Securities and USDA Securities [Member]
Held-to-maturity:
Unamortized Premium/(Discount)	52,903	55,261
Available-for-sale:
Unamortized Premium/(Discount)	52,903	55,261
Trading:
Unamortized Premium/(Discount)	52,903	55,261
Held-to-maturity Securities [Member] | Farmer Mac Guaranteed Securities [Member]
Held-to-maturity:
Unamortized Premium/(Discount)	2	50
Available-for-sale:
Unamortized Premium/(Discount)	2	50
Trading:
Unamortized Premium/(Discount)	2	50
Institutional Credit [Member] | Farmer Mac Guaranteed Securities [Member]
Held-to-maturity:
Unpaid Principal Balance	2,013,619	2,069,185
Amortized Cost	2,013,384	2,068,991
Unrealized Gains	7,035	2,637
Unrealized Losses	(5,932)	(11,948)
Fair Value	2,014,487	2,059,680
Available-for-sale:
Unpaid Principal Balance	6,408,318	6,003,733
Amortized Cost	6,408,128	6,003,529
Unrealized Gains	67,066	22,335
Unrealized Losses	(33,570)	(51,367)
Fair Value	6,441,624	5,974,497
Institutional Credit [Member] | Held-to-maturity Securities [Member] | Farmer Mac Guaranteed Securities [Member]
Held-to-maturity:
Unamortized Premium/(Discount)	(235)	(194)
Available-for-sale:
Unamortized Premium/(Discount)	(235)	(194)
Trading:
Unamortized Premium/(Discount)	(235)	(194)
Institutional Credit [Member] | Available-for-sale Securities [Member] | Farmer Mac Guaranteed Securities [Member]
Held-to-maturity:
Unamortized Premium/(Discount)	(190)	(204)
Available-for-sale:
Unamortized Premium/(Discount)	(190)	(204)
Trading:
Unamortized Premium/(Discount)	(190)	(204)
USDA Guarantees [Member]
Held-to-maturity:
Unamortized Premium/(Discount)	(200)	(200)
Available-for-sale:
Unamortized Premium/(Discount)	(200)	(200)
Trading:
Unamortized Premium/(Discount)	(200)	(200)
USDA Guarantees [Member] | Farmer Mac Guaranteed Securities [Member]
Held-to-maturity:
Unpaid Principal Balance	26,794	27,383
Amortized Cost	27,031	27,627
Unrealized Gains	237	98
Unrealized Losses	0	0
Fair Value	27,268	27,725
USDA Guarantees [Member] | USDA Securities [Member]
Held-to-maturity:
Unpaid Principal Balance	2,072,411	2,110,963
Amortized Cost	2,125,312	2,166,174
Unrealized Gains	1	0
Unrealized Losses	(21,409)	(62,227)
Fair Value	2,103,904	2,103,947
Trading:
Unpaid Principal Balance	9,087	9,591
Amortized Cost	9,736	10,292
Unrealized Gains	22	20
Unrealized Losses	(271)	(313)
Fair Value	$ 9,487	$ 9,999
Trading securities, weighted-average yield	5.23%	5.21%
USDA Guarantees [Member] | Held-to-maturity Securities [Member] | Farmer Mac Guaranteed Securities [Member]
Held-to-maturity:
Unamortized Premium/(Discount)	$ 237	$ 244
Available-for-sale:
Unamortized Premium/(Discount)	237	244
Trading:
Unamortized Premium/(Discount)	237	244
USDA Guarantees [Member] | Held-to-maturity Securities [Member] | USDA Securities [Member]
Held-to-maturity:
Unamortized Premium/(Discount)	52,901	55,211
Available-for-sale:
Unamortized Premium/(Discount)	52,901	55,211
Trading:
Unamortized Premium/(Discount)	52,901	55,211
USDA Guarantees [Member] | Trading Securities [Member] | USDA Securities [Member]
Held-to-maturity:
Unamortized Premium/(Discount)	649	701
Available-for-sale:
Unamortized Premium/(Discount)	649	701
Trading:
Unamortized Premium/(Discount)	$ 649	$ 701

Farmer Mac Guaranteed Securit_4

Farmer Mac Guaranteed Securities and USDA Securities - Unrealized Loss Position (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Unrealized loss position for less than 12 months
Fair Value	$ 984,827	$ 1,433,453
Unrealized Loss	(3,465)	(3,281)
Unrealized loss position for more than 12 months
Fair Value	536,464	315,786
Unrealized Loss	(2,886)	(2,647)
Farmer Mac Guaranteed Securities and USDA Securities [Member]
Unrealized loss position for less than 12 months
Fair Value	246,546	707,813
Unrealized Loss	(886)	(2,456)
Unrealized loss position for more than 12 months
Fair Value	3,100,273	3,042,061
Unrealized Loss	(26,455)	(71,719)
Institutional Credit [Member] | Farmer Mac Guaranteed Securities [Member]
Unrealized loss position for less than 12 months
Fair Value	212,783	669,610
Unrealized Loss	(67)	(1,760)
Unrealized loss position for more than 12 months
Fair Value	1,030,571	976,318
Unrealized Loss	(5,865)	(10,188)
Unrealized loss position for less than 12 months
Fair Value	552,404	1,480,423
Unrealized Loss	(3,779)	(9,364)
Unrealized loss position for more than 12 months
Fair Value	1,633,673	1,599,679
Unrealized Loss	(29,791)	(42,003)
USDA Guarantees [Member] | USDA Securities [Member]
Unrealized loss position for less than 12 months
Fair Value	33,763	38,203
Unrealized Loss	(819)	(696)
Unrealized loss position for more than 12 months
Fair Value	2,069,702	2,065,743
Unrealized Loss	$ (20,590)	$ (61,531)

Farmer Mac Guaranteed Securit_5

Farmer Mac Guaranteed Securities and USDA Securities - Narrative (Details) - Institutional Credit [Member] - Farmer Mac Guaranteed Securities [Member] - position	Mar. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, securities in unrealized loss positions	28	38
Held-to-maturity, securities in unrealized loss positions	32	43
Debt securities, available-for-sale, continuous unrealized loss position 12 months or longer	24	21

Farmer Mac Guaranteed Securit_6

Farmer Mac Guaranteed Securities and USDA Securities - Schedule of Available-for-sale Securities (Details) - Farmer Mac Guaranteed Securities [Member] $ in Thousands	Mar. 31, 2019USD ($)
Amortized Cost
Due within one year	$ 584,884
Due after one year through five years	2,976,650
Due after five years through ten years	1,281,673
Due after ten years	1,564,921
Amortized Cost	6,408,128
Fair Value
Due within one year	585,085
Due after one year through five years	2,988,640
Due after five years through ten years	1,291,943
Due after ten years	1,575,956
Total	$ 6,441,624
Weighted- Average Yield
Due within one year	3.09%
Due after one year through five years	3.16%
Due after five years through ten years	3.21%
Due after ten years	3.62%
Total	3.28%

Farmer Mac Guaranteed Securit_7

Farmer Mac Guaranteed Securities and USDA Securities - Schedule of Held-to-maturity Securities (Details) - Farmer Mac Guaranteed Securities and USDA Securities [Member] - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Amortized Cost
Due within one year	$ 682,586
Due after one year through five years	1,420,155
Due after five years through ten years	204,350
Due after ten years	1,858,636
Amortized Cost	4,165,727	$ 4,262,792
Fair Value
Due within one year	681,561
Due after one year through five years	1,421,423
Due after five years through ten years	202,025
Due after ten years	1,840,650
Total	$ 4,145,659	$ 4,191,352
Weighted- Average Yield
Due within one year	2.15%
Due after one year through five years	3.07%
Due after five years through ten years	3.45%
Due after ten years	3.62%
Total	3.18%

Financial Derivatives - Schedu

Financial Derivatives - Schedule of Derivative Instruments in Statement of Financial Position (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Notional Disclosures [Abstract]
Notional Amount	$ 11,808,479		$ 9,955,745
Fair Value
Asset	6,053		7,487
Collateral (held)/pledged	(3,900)		(1,778)
Net amount	2,153		5,709
(Liability)	(22,203)		(19,633)
Collateral (held)/pledged	90,420		47,018
Net amount	68,217		27,385
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Interest Rate Swap, Pay Fixed Non-Callable [Member]
Notional Disclosures [Abstract]
Notional Amount	4,085,824		3,097,084
Fair Value
Asset	1,489		3,004
(Liability)	$ (5,981)		$ (4,326)
Weighted- Average Pay Rate	2.49%		2.42%
Weighted- Average Receive Rate	2.63%		2.58%
Weighted- Average Remaining Term (in years)	11 years 9 months 72 days	9 years 8 months 29 days
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Interest Rate Swap, Receive Fixed Non-Callable [Member]
Notional Disclosures [Abstract]
Notional Amount	$ 1,760,200		$ 1,871,200
Fair Value
Asset	807		547
(Liability)	$ (4,163)		$ (4,484)
Weighted- Average Pay Rate	2.61%		2.50%
Weighted- Average Receive Rate	1.88%		1.84%
Weighted- Average Remaining Term (in years)	1 year 4 months 30 days	1 year 6 months 30 days
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Interest Rate Swap, Receive Fixed Callable [Member]
Notional Disclosures [Abstract]
Notional Amount	$ 370,000		$ 160,000
Fair Value
Asset	617		338
(Liability)	$ (1)		$ (28)
Weighted- Average Pay Rate	2.36%		2.35%
Weighted- Average Receive Rate	2.63%		3.06%
Weighted- Average Remaining Term (in years)	2 years 4 months 55 days	2 years 9 months 60 days
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest Rate Swap, Pay Fixed Non-Callable [Member]
Notional Disclosures [Abstract]
Notional Amount	$ 373,000		$ 373,000
Fair Value
Asset	2,043		2,441
(Liability)	$ (144)		$ (99)
Weighted- Average Pay Rate	2.40%		2.40%
Weighted- Average Receive Rate	2.91%		2.83%
Weighted- Average Remaining Term (in years)	5 years 8 months 75 days	6 years 1 month 12 days
Not Designated as Hedging Instrument [Member]
Fair Value
Credit valuation adjustment	$ (25)		$ (60)
Credit valuation adjustment	39		21
Not Designated as Hedging Instrument [Member] | Interest Rate Swap, Pay Fixed Non-Callable [Member]
Notional Disclosures [Abstract]
Notional Amount	316,534		316,664
Fair Value
Asset	281		796
(Liability)	$ (11,785)		$ (10,399)
Weighted- Average Pay Rate	3.69%		3.69%
Weighted- Average Receive Rate	2.74%		2.52%
Weighted- Average Remaining Term (in years)	6 years	6 years 2 months 29 days
Not Designated as Hedging Instrument [Member] | Interest Rate Swap, Receive Fixed Non-Callable [Member]
Notional Disclosures [Abstract]
Notional Amount	$ 2,886,621		$ 2,347,371
Fair Value
Asset	0		0
(Liability)	$ 0		$ 0
Weighted- Average Pay Rate	2.56%		2.37%
Weighted- Average Receive Rate	2.36%		2.10%
Weighted- Average Remaining Term (in years)	9 months 80 days	10 months 10 days
Not Designated as Hedging Instrument [Member] | Basis Swap [Member]
Notional Disclosures [Abstract]
Notional Amount	$ 2,004,000		$ 1,770,026
Fair Value
Asset	841		421
(Liability)	$ (74)		$ (130)
Weighted- Average Pay Rate	2.58%		2.45%
Weighted- Average Receive Rate	2.56%		2.49%
Weighted- Average Remaining Term (in years)	1 year 2 months 20 days	1 year 3 months 7 days
Not Designated as Hedging Instrument [Member] | Future [Member]
Notional Disclosures [Abstract]
Notional Amount	$ 12,300		$ 20,400
Fair Value
Asset			0
(Liability)	$ (94)		$ (188)
Weighted- Average Forward Price (in dollars per share)	$ 123.46	$ 121.09

Financial Derivatives - Narrat

Financial Derivatives - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Derivative [Line Items]
Gain expected to be reclassified from AOCI to earnings over next 12 months	$ 1,300,000
Gain (loss) from interest rate swaps designated as cash flow hedges reclassified to earnings	0	$ 0
Investments held as collateral	900,000		$ 1,100,000
Cash posted as collateral	90,420,000		47,018,000
Financial derivatives in net payable position	0		0
Notional amount	11,808,479,000		9,955,745,000
Uncollateralized [Member]
Derivative [Line Items]
Credit exposure to interest rate swap counterparties	200,000		1,400,000
Cash [Member]
Derivative [Line Items]
Cash held as collateral	3,000,000		700,000
Cash posted as collateral	0		0
Available-for-sale Securities [Member]
Derivative [Line Items]
Cash posted as collateral	90,400,000		47,000,000
Exchange Cleared [Member]
Derivative [Line Items]
Notional amount	9,900,000,000		8,500,000,000
Interest Rate Swap [Member]
Derivative [Line Items]
Notional amount	$ 11,800,000,000		$ 9,900,000,000

Financial Derivatives - Sche_2

Financial Derivatives - Schedule of Net Income/(Expense) Recognized (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Interest Income Farmer Mac Guaranteed Securities and USDA Securities	$ 85,411	$ 62,430
Interest Income Loans	51,397	45,653
Total Interest Expense	(114,916)	(76,317)
Losses on financial derivatives	(360)	(3,850)
Total	21,532	27,916
Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Recognized on hedged items	67,392	(14,383)
Gains/(losses) on fair value hedging relationships	(2,699)	2,838
Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Discount amortization recognized on hedged items	(1)	(2)
Interest settlements reclassified from AOCI into net income on derivatives	481	(267)
Recognized on hedged items	(2,688)	(1,780)
Expense recognized on cash flow hedges	(2,208)	(2,049)
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Recognized on hedged items	19,198	7,096
Discount amortization recognized on hedged items	(149)	(155)
Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Losses on financial derivatives	(360)	(3,850)
Interest Income [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Recognized on hedged items	59,352	(18,948)
Gains/(losses) on fair value hedging relationships	365	1,501
Interest Income [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Discount amortization recognized on hedged items	0	0
Interest settlements reclassified from AOCI into net income on derivatives	0	0
Recognized on hedged items	0	0
Expense recognized on cash flow hedges	0	0
Interest Income [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Recognized on hedged items	24,565	13,597
Discount amortization recognized on hedged items	0	0
Interest Income [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Losses on financial derivatives	0	0
Loans and Finance Receivables [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Recognized on hedged items	16,237	(6,572)
Gains/(losses) on fair value hedging relationships	(3,845)	(153)
Loans and Finance Receivables [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Discount amortization recognized on hedged items	0	0
Interest settlements reclassified from AOCI into net income on derivatives	0	0
Recognized on hedged items	0	0
Expense recognized on cash flow hedges	0	0
Loans and Finance Receivables [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Recognized on hedged items	4,555	1,414
Discount amortization recognized on hedged items	0	0
Loans and Finance Receivables [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Losses on financial derivatives	0	0
Interest Expense [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Recognized on hedged items	(8,197)	11,137
Gains/(losses) on fair value hedging relationships	781	1,490
Interest Expense [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Discount amortization recognized on hedged items	(1)	(2)
Interest settlements reclassified from AOCI into net income on derivatives	481	(267)
Recognized on hedged items	(2,688)	(1,780)
Expense recognized on cash flow hedges	(2,208)	(2,049)
Interest Expense [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Recognized on hedged items	(9,922)	(7,915)
Discount amortization recognized on hedged items	(149)	(155)
Interest Expense [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Losses on financial derivatives	0	0
Gain (Loss) on Derivative Instruments [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Recognized on hedged items	0	0
Gains/(losses) on fair value hedging relationships	0	0
Gain (Loss) on Derivative Instruments [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Discount amortization recognized on hedged items	0	0
Interest settlements reclassified from AOCI into net income on derivatives	0	0
Recognized on hedged items	0	0
Expense recognized on cash flow hedges	0	0
Gain (Loss) on Derivative Instruments [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Recognized on hedged items	0	0
Discount amortization recognized on hedged items	0	0
Gain (Loss) on Derivative Instruments [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Losses on financial derivatives	(360)	(3,850)
Interest Rate Swap [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Recognized on derivatives	(1,690)	(1,491)
Income/(expense) related to interest settlements on fair value hedging relationships	17,359	5,450
Recognized on derivatives	(70,091)	17,221
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total Interest Expense	(2,300)	(1,987)
Losses on financial derivatives	2,168	(2,088)
Interest Rate Swap [Member] | Interest Income [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Recognized on derivatives	1,550	(1,488)
Income/(expense) related to interest settlements on fair value hedging relationships	26,115	12,109
Recognized on derivatives	(58,987)	20,449
Interest Rate Swap [Member] | Interest Income [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total Interest Expense	0	0
Losses on financial derivatives	0	0
Interest Rate Swap [Member] | Loans and Finance Receivables [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Recognized on derivatives	(22)	(297)
Income/(expense) related to interest settlements on fair value hedging relationships	4,533	1,117
Recognized on derivatives	(20,082)	6,419
Interest Rate Swap [Member] | Loans and Finance Receivables [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total Interest Expense	0	0
Losses on financial derivatives	0	0
Interest Rate Swap [Member] | Interest Expense [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Recognized on derivatives	(3,218)	294
Income/(expense) related to interest settlements on fair value hedging relationships	(13,289)	(7,776)
Recognized on derivatives	8,978	(9,647)
Interest Rate Swap [Member] | Interest Expense [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total Interest Expense	0	0
Losses on financial derivatives	0	0
Interest Rate Swap [Member] | Gain (Loss) on Derivative Instruments [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Recognized on derivatives	0	0
Income/(expense) related to interest settlements on fair value hedging relationships	0	0
Recognized on derivatives	0	0
Interest Rate Swap [Member] | Gain (Loss) on Derivative Instruments [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total Interest Expense	(2,300)	(1,987)
Losses on financial derivatives	2,168	(2,088)
Future [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Losses on financial derivatives	(228)	225
Future [Member] | Interest Income [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Losses on financial derivatives	0	0
Future [Member] | Loans and Finance Receivables [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Losses on financial derivatives	0	0
Future [Member] | Interest Expense [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Losses on financial derivatives	0	0
Future [Member] | Gain (Loss) on Derivative Instruments [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Losses on financial derivatives	$ (228)	$ 225

Financial Derivatives - Hedged

Financial Derivatives - Hedged Items in Fair Value Hedging Relationships (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
HedgedItemsinFairValueHedgingRelationship [Line Items]
Hedging adjustments on discontinued hedging relationships	$ 200	$ 300
Loans [Member]
HedgedItemsinFairValueHedgingRelationship [Line Items]
Carrying Amount of Hedged Assets/(Liabilities)	726,169	194,617
Cumulative Amount of Fair Value Hedging Adjustments included in the Carrying Amount of the Hedged Assets/(Liabilities)	8,968	(5,287)
Other Assets [Member]
HedgedItemsinFairValueHedgingRelationship [Line Items]
Carrying Amount of Hedged Assets/(Liabilities)	1,981	0
Cumulative Amount of Fair Value Hedging Adjustments included in the Carrying Amount of the Hedged Assets/(Liabilities)	1,981	0
Long-term Debt [Member]
HedgedItemsinFairValueHedgingRelationship [Line Items]
Carrying Amount of Hedged Assets/(Liabilities)	(2,103,633)	(2,021,356)
Cumulative Amount of Fair Value Hedging Adjustments included in the Carrying Amount of the Hedged Assets/(Liabilities)	541	8,785
Farmer Mac Guaranteed Securities [Member]
HedgedItemsinFairValueHedgingRelationship [Line Items]
Carrying Amount of Hedged Assets/(Liabilities)	3,360,615	2,882,919
Cumulative Amount of Fair Value Hedging Adjustments included in the Carrying Amount of the Hedged Assets/(Liabilities)	$ 58,445	$ (906)

Financial Derivatives - Schedul

Financial Derivatives - Schedule of Credit Exposure to Interest Rate Swap Counterparties (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Liabilities derivatives interest rate swaps	$ 22,203	$ 19,633
Excluding Netting [Member] | Including Accrued Interest [Member]
Derivative [Line Items]
Assets derivatives interest rate swaps	42,551	51,267
Liabilities derivatives interest rate swaps	139,843	78,437
Counterparty Netting [Member] | Including Accrued Interest [Member]
Derivative [Line Items]
Assets derivatives interest rate swaps	38,417	48,124
Liabilities derivatives interest rate swaps	133,793	64,568
Netting [Member] | Including Accrued Interest [Member]
Derivative [Line Items]
Assets derivatives interest rate swaps	4,134	3,143
Liabilities derivatives interest rate swaps	$ 6,050	$ 13,869

Loans and Allowance for Losse_2

Loans and Allowance for Losses - Schedule of Compositon of Loan Balances (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 4,480,511	$ 4,004,968
Allowance for loan losses	(6,753)	(7,017)
Total loans, net of allowance	6,040,088	5,515,052
Real Estate Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	6,039,998	5,527,166
Unamortized premiums, discounts, and other cost basis adjustments	6,843	(5,097)
Total loans	6,046,841	5,522,069
Allowance for loan losses	(6,753)	(7,017)
Total loans, net of allowance	6,040,088	5,515,052
Real Estate Loan [Member] | Farm & Ranch [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	4,610,897	4,588,323
Real Estate Loan [Member] | Rural Utilities [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	1,429,101	938,843
Unsecuritized [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	4,473,668	4,010,065
Unamortized premiums, discounts, and other cost basis adjustments	6,843	(5,097)
Total loans	4,480,511	4,004,968
Allowance for loan losses	(5,270)	(5,565)
Total loans, net of allowance	4,475,241	3,999,403
Unsecuritized [Member] | Farm & Ranch [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	3,044,567	3,071,222
Unsecuritized [Member] | Rural Utilities [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	1,429,101	938,843
In Consolidated Trusts [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	1,566,330	1,517,101
Unamortized premiums, discounts, and other cost basis adjustments	0	0
Total loans	1,566,330	1,517,101
Allowance for loan losses	(1,483)	(1,452)
Total loans, net of allowance	1,564,847	1,515,649
In Consolidated Trusts [Member] | Farm & Ranch [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	1,566,330	1,517,101
In Consolidated Trusts [Member] | Rural Utilities [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	$ 0	$ 0

Loans and Allowance for Losse_3

Loans and Allowance for Losses - Schedule of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning Balance - Allowance for Loan Losses	$ 7,017
Beginning Balance - Reserve for Losses	2,167
Beginning Balance - Total Allowance for Losses	9,184	$ 8,866
Provision for/(release of) losses	(264)	(431)
(Release of)/provision for losses	(393)	(410)
Charge-offs	0	0
Ending Balance - Allowance for Loan Losses	6,753
Ending Balance - Reserve for Losses	2,038
Ending Balance - Total Allowance for Losses	8,791	8,456
Crops [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning Balance - Total Allowance for Losses	4,394	4,081
(Release of)/provision for losses	(161)	(288)
Charge-offs	0	0
Ending Balance - Total Allowance for Losses	4,233	3,793
Permanent Plantings [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning Balance - Total Allowance for Losses	2,126	2,469
(Release of)/provision for losses	(192)	10
Charge-offs	0	0
Ending Balance - Total Allowance for Losses	1,934	2,479
Livestock [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning Balance - Total Allowance for Losses	1,460	1,211
(Release of)/provision for losses	(8)	25
Charge-offs	0	0
Ending Balance - Total Allowance for Losses	1,452	1,236
Part-Time Farm [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning Balance - Total Allowance for Losses	474	481
(Release of)/provision for losses	(61)	(68)
Charge-offs	0	0
Ending Balance - Total Allowance for Losses	413	413
Agriculture Storage and Processing [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning Balance - Total Allowance for Losses	720	606
(Release of)/provision for losses	17	(84)
Charge-offs	0	0
Ending Balance - Total Allowance for Losses	737	522
Other Commodity [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning Balance - Total Allowance for Losses	10	18
(Release of)/provision for losses	12	(5)
Charge-offs	0	0
Ending Balance - Total Allowance for Losses	22	13
SEC Schedule, 12-09, Allowance, Loan and Lease Loss [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning Balance - Allowance for Loan Losses	7,017	6,796
Provision for/(release of) losses	(264)	(431)
Charge-offs	0	0
Ending Balance - Allowance for Loan Losses	6,753	6,365
SEC Schedule, 12-09, Reserve, Off-balance Sheet Activity [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning Balance - Reserve for Losses	2,167	2,070
Provision for/(release of) losses	(129)	21
Charge-offs	0	0
Ending Balance - Reserve for Losses	$ 2,038	$ 2,091

Loans and Allowance for Losse_4

Loans and Allowance for Losses - Schedule of Allowance for Losses by Impairment Method and Commodity (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	$ 7,041,104	$ 7,079,331
Individually evaluated for impairment:	174,481	154,640
Total Farm & Ranch loans:	7,215,585	7,233,971
Allowance for Losses:
Collectively evaluated for impairment:	5,465	5,779
Individually evaluated for impairment:	3,326	3,405
Total Farm & Ranch loans:	8,791	9,184	$ 8,456	$ 8,866
Crops [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	3,666,405	3,691,897
Individually evaluated for impairment:	97,051	79,730
Total Farm & Ranch loans:	3,763,456	3,771,627
Allowance for Losses:
Collectively evaluated for impairment:	2,483	2,788
Individually evaluated for impairment:	1,750	1,606
Total Farm & Ranch loans:	4,233	4,394	3,793	4,081
Permanent Plantings [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	1,453,217	1,468,239
Individually evaluated for impairment:	39,142	41,582
Total Farm & Ranch loans:	1,492,359	1,509,821
Allowance for Losses:
Collectively evaluated for impairment:	1,066	992
Individually evaluated for impairment:	868	1,134
Total Farm & Ranch loans:	1,934	2,126	2,479	2,469
Livestock [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	1,319,630	1,330,274
Individually evaluated for impairment:	30,980	25,098
Total Farm & Ranch loans:	1,350,610	1,355,372
Allowance for Losses:
Collectively evaluated for impairment:	867	938
Individually evaluated for impairment:	585	522
Total Farm & Ranch loans:	1,452	1,460	1,236	1,211
Part-Time Farm [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	509,862	495,977
Individually evaluated for impairment:	7,248	8,161
Total Farm & Ranch loans:	517,110	504,138
Allowance for Losses:
Collectively evaluated for impairment:	291	332
Individually evaluated for impairment:	122	142
Total Farm & Ranch loans:	413	474	413	481
Agriculture Storage and Processing [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	84,321	85,181
Individually evaluated for impairment:	0	0
Total Farm & Ranch loans:	84,321	85,181
Allowance for Losses:
Collectively evaluated for impairment:	737	720
Individually evaluated for impairment:	0	0
Total Farm & Ranch loans:	737	720	522	606
Other Commodity [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	7,669	7,763
Individually evaluated for impairment:	60	69
Total Farm & Ranch loans:	7,729	7,832
Allowance for Losses:
Collectively evaluated for impairment:	21	9
Individually evaluated for impairment:	1	1
Total Farm & Ranch loans:	22	10	$ 13	$ 18
On-balance sheet [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	4,454,370	4,456,918
Individually evaluated for impairment:	156,527	131,404
Total Farm & Ranch loans:	4,610,897	4,588,322
Allowance for Losses:
Collectively evaluated for impairment:	3,772	4,064
Individually evaluated for impairment:	2,981	2,953
Total Farm & Ranch loans:	6,753	7,017
On-balance sheet [Member] | Crops [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	2,450,803	2,452,803
Individually evaluated for impairment:	86,299	66,432
Total Farm & Ranch loans:	2,537,102	2,519,235
Allowance for Losses:
Collectively evaluated for impairment:	1,818	2,120
Individually evaluated for impairment:	1,551	1,329
Total Farm & Ranch loans:	3,369	3,449
On-balance sheet [Member] | Permanent Plantings [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	946,435	952,719
Individually evaluated for impairment:	36,785	36,333
Total Farm & Ranch loans:	983,220	989,052
Allowance for Losses:
Collectively evaluated for impairment:	958	822
Individually evaluated for impairment:	816	1,065
Total Farm & Ranch loans:	1,774	1,887
On-balance sheet [Member] | Livestock [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	699,333	705,752
Individually evaluated for impairment:	27,064	21,361
Total Farm & Ranch loans:	726,397	727,113
Allowance for Losses:
Collectively evaluated for impairment:	631	731
Individually evaluated for impairment:	511	437
Total Farm & Ranch loans:	1,142	1,168
On-balance sheet [Member] | Part-Time Farm [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	341,177	329,070
Individually evaluated for impairment:	6,379	7,278
Total Farm & Ranch loans:	347,556	336,348
Allowance for Losses:
Collectively evaluated for impairment:	265	303
Individually evaluated for impairment:	103	122
Total Farm & Ranch loans:	368	425
On-balance sheet [Member] | Agriculture Storage and Processing [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	12,036	12,097
Individually evaluated for impairment:	0	0
Total Farm & Ranch loans:	12,036	12,097
Allowance for Losses:
Collectively evaluated for impairment:	84	84
Individually evaluated for impairment:	0	0
Total Farm & Ranch loans:	84	84
On-balance sheet [Member] | Other Commodity [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	4,586	4,477
Individually evaluated for impairment:	0	0
Total Farm & Ranch loans:	4,586	4,477
Allowance for Losses:
Collectively evaluated for impairment:	16	4
Individually evaluated for impairment:	0	0
Total Farm & Ranch loans:	16	4
Off-balance sheet [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	2,586,734	2,622,413
Individually evaluated for impairment:	17,954	23,236
Total Farm & Ranch loans:	2,604,688	2,645,649
Allowance for Losses:
Collectively evaluated for impairment:	1,693	1,715
Individually evaluated for impairment:	345	452
Total Farm & Ranch loans:	2,038	2,167
Off-balance sheet [Member] | Crops [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	1,215,602	1,239,094
Individually evaluated for impairment:	10,752	13,298
Total Farm & Ranch loans:	1,226,354	1,252,392
Allowance for Losses:
Collectively evaluated for impairment:	665	668
Individually evaluated for impairment:	199	277
Total Farm & Ranch loans:	864	945
Off-balance sheet [Member] | Permanent Plantings [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	506,782	515,520
Individually evaluated for impairment:	2,357	5,249
Total Farm & Ranch loans:	509,139	520,769
Allowance for Losses:
Collectively evaluated for impairment:	108	170
Individually evaluated for impairment:	52	69
Total Farm & Ranch loans:	160	239
Off-balance sheet [Member] | Livestock [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	620,297	624,522
Individually evaluated for impairment:	3,916	3,737
Total Farm & Ranch loans:	624,213	628,259
Allowance for Losses:
Collectively evaluated for impairment:	236	207
Individually evaluated for impairment:	74	85
Total Farm & Ranch loans:	310	292
Off-balance sheet [Member] | Part-Time Farm [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	168,685	166,907
Individually evaluated for impairment:	869	883
Total Farm & Ranch loans:	169,554	167,790
Allowance for Losses:
Collectively evaluated for impairment:	26	29
Individually evaluated for impairment:	19	20
Total Farm & Ranch loans:	45	49
Off-balance sheet [Member] | Agriculture Storage and Processing [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	72,285	73,084
Individually evaluated for impairment:	0	0
Total Farm & Ranch loans:	72,285	73,084
Allowance for Losses:
Collectively evaluated for impairment:	653	636
Individually evaluated for impairment:	0	0
Total Farm & Ranch loans:	653	636
Off-balance sheet [Member] | Other Commodity [Member]
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment:	3,083	3,286
Individually evaluated for impairment:	60	69
Total Farm & Ranch loans:	3,143	3,355
Allowance for Losses:
Collectively evaluated for impairment:	5	5
Individually evaluated for impairment:	1	1
Total Farm & Ranch loans:	$ 6	$ 6

Loans and Allowance for Losse_5

Loans and Allowance for Losses - Schedule of Impaired Financing Receivables (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Financing Receivable, Impaired [Line Items]
Impaired Loans, With so specific allowance, Recorded investment	$ 57,414		$ 32,012
Impaired Loans, With so specific allowance, Unpaid principal balance	57,292		31,854
Impaired Loan, With a specific allowance, Recorded investment	117,404		123,300
Impaired Loans, With a specific allowance, Unpaid principal balance	117,189		122,786
Impaired Loans, Associated allowance	3,326		3,405
Recorded investment	174,818		155,312
Unpaid principal balance	174,481		154,640
Recorded investment of loans on nonaccrual status	62,972		61,408
Average recorded investment in impaired loans	165,066	$ 147,284
Income recognized on impaired loans	801	698
Crops [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans, With so specific allowance, Recorded investment	32,570		20,734
Impaired Loans, With so specific allowance, Unpaid principal balance	32,501		20,632
Impaired Loan, With a specific allowance, Recorded investment	64,666		59,335
Impaired Loans, With a specific allowance, Unpaid principal balance	64,550		59,098
Impaired Loans, Associated allowance	1,750		1,606
Recorded investment	97,236		80,069
Unpaid principal balance	97,051		79,730
Recorded investment of loans on nonaccrual status	35,879		26,611
Average recorded investment in impaired loans	88,653	72,017
Income recognized on impaired loans	322	392
Permanent Plantings [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans, With so specific allowance, Recorded investment	15,531		3,592
Impaired Loans, With so specific allowance, Unpaid principal balance	15,498		3,573
Impaired Loan, With a specific allowance, Recorded investment	23,690		38,176
Impaired Loans, With a specific allowance, Unpaid principal balance	23,644		38,009
Impaired Loans, Associated allowance	868		1,134
Recorded investment	39,221		41,768
Unpaid principal balance	39,142		41,582
Recorded investment of loans on nonaccrual status	12,843		21,349
Average recorded investment in impaired loans	40,495	43,427
Income recognized on impaired loans	299	172
Livestock [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans, With so specific allowance, Recorded investment	7,708		5,764
Impaired Loans, With so specific allowance, Unpaid principal balance	7,691		5,737
Impaired Loan, With a specific allowance, Recorded investment	23,331		19,443
Impaired Loans, With a specific allowance, Unpaid principal balance	23,289		19,361
Impaired Loans, Associated allowance	585		522
Recorded investment	31,039		25,207
Unpaid principal balance	30,980		25,098
Recorded investment of loans on nonaccrual status	10,490		8,803
Average recorded investment in impaired loans	28,123	22,274
Income recognized on impaired loans	113	79
Part-Time Farm [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans, With so specific allowance, Recorded investment	1,605		1,922
Impaired Loans, With so specific allowance, Unpaid principal balance	1,602		1,912
Impaired Loan, With a specific allowance, Recorded investment	5,657		6,276
Impaired Loans, With a specific allowance, Unpaid principal balance	5,646		6,249
Impaired Loans, Associated allowance	122		142
Recorded investment	7,262		8,198
Unpaid principal balance	7,248		8,161
Recorded investment of loans on nonaccrual status	3,760		4,645
Average recorded investment in impaired loans	7,730	8,850
Income recognized on impaired loans	67	55
Agriculture Storage and Processing [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans, With so specific allowance, Recorded investment	0		0
Impaired Loans, With so specific allowance, Unpaid principal balance	0		0
Impaired Loan, With a specific allowance, Recorded investment	0		0
Impaired Loans, With a specific allowance, Unpaid principal balance	0		0
Impaired Loans, Associated allowance	0		0
Recorded investment	0		0
Unpaid principal balance	0		0
Recorded investment of loans on nonaccrual status	0		0
Average recorded investment in impaired loans	0	0
Income recognized on impaired loans	0	0
Other Commodity [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans, With so specific allowance, Recorded investment	0		0
Impaired Loans, With so specific allowance, Unpaid principal balance	0		0
Impaired Loan, With a specific allowance, Recorded investment	60		70
Impaired Loans, With a specific allowance, Unpaid principal balance	60		69
Impaired Loans, Associated allowance	1		1
Recorded investment	60		70
Unpaid principal balance	60		69
Recorded investment of loans on nonaccrual status	0		0
Average recorded investment in impaired loans	65	716
Income recognized on impaired loans	0	$ 0
Collateral Dependent Not Individually Analyzed [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans, Associated allowance	2,500		2,700
Recorded investment	$ 115,000		$ 120,900
Impaired loans, impairment analysis performed percent	66.00%		78.00%
Less than 90 days past due [Member]
Financing Receivable, Impaired [Line Items]
Recorded investment of loans on nonaccrual status	$ 15,800		$ 41,800

Loans and Allowance for Losse_6

Loans and Allowance for Losses - Schedule of Past Due Financing Receivables (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Financing Receivable, Recorded Investment, Past Due [Line Items]
90-Days Delinquencies	$ 52,366		$ 26,881
Net Credit (Recoveries)/Losses	0	$ 16
Loans subject to removal-of-account provisions	100		100
On-balance sheet [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
90-Days Delinquencies	47,219		19,577
Net Credit (Recoveries)/Losses	0	16
Off-balance sheet [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
90-Days Delinquencies	5,147		$ 7,304
Net Credit (Recoveries)/Losses	$ 0	$ 0

Loans and Allowance for Losse_7

Loans and Allowance for Losses - Schedule of Financing Receivables Credit Quality Indicators (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	$ 7,215,585	$ 7,233,971
Past due financing receivables	52,366	26,881
Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	6,685,093	6,748,644
Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	283,776	252,673
Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	246,716	232,654
Crops [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	3,763,456	3,771,627
Past due financing receivables	34,509	14,821
Crops [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	3,479,661	3,510,640
Crops [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	140,396	133,526
Crops [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	143,399	127,461
Permanent Plantings [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	1,492,359	1,509,821
Past due financing receivables	8,125	3,194
Permanent Plantings [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	1,378,328	1,407,272
Permanent Plantings [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	69,711	51,704
Permanent Plantings [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	44,320	50,845
Livestock [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	1,350,610	1,355,372
Past due financing receivables	6,845	4,059
Livestock [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	1,241,412	1,256,961
Livestock [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	62,035	57,202
Livestock [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	47,163	41,209
Part-Time Farm [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	517,110	504,138
Past due financing receivables	2,887	4,807
Part-Time Farm [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	496,930	484,075
Part-Time Farm [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	10,137	8,748
Part-Time Farm [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	10,043	11,315
Agriculture Storage and Processing [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	84,321	85,181
Past due financing receivables	0	0
Agriculture Storage and Processing [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	81,699	82,563
Agriculture Storage and Processing [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	1,497	1,493
Agriculture Storage and Processing [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	1,125	1,125
Other Commodity [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	7,729	7,832
Past due financing receivables	0	0
Other Commodity [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	7,063	7,133
Other Commodity [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	0	0
Other Commodity [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	666	699
On-balance sheet [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	4,610,897	4,588,322
Past due financing receivables	47,219	19,577
On-balance sheet [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	4,322,621	4,335,325
On-balance sheet [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	131,895	121,739
On-balance sheet [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	156,381	131,258
On-balance sheet [Member] | Crops [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	2,537,102	2,519,235
Past due financing receivables	30,149	8,345
On-balance sheet [Member] | Crops [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	2,391,354	2,381,853
On-balance sheet [Member] | Crops [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	59,594	71,096
On-balance sheet [Member] | Crops [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	86,154	66,286
On-balance sheet [Member] | Permanent Plantings [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	983,220	989,052
Past due financing receivables	7,929	2,997
On-balance sheet [Member] | Permanent Plantings [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	901,684	937,793
On-balance sheet [Member] | Permanent Plantings [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	44,751	14,926
On-balance sheet [Member] | Permanent Plantings [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	36,785	36,333
On-balance sheet [Member] | Livestock [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	726,397	727,113
Past due financing receivables	6,745	4,059
On-balance sheet [Member] | Livestock [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	682,548	679,253
On-balance sheet [Member] | Livestock [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	16,786	26,499
On-balance sheet [Member] | Livestock [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	27,063	21,361
On-balance sheet [Member] | Part-Time Farm [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	347,556	336,348
Past due financing receivables	2,396	4,176
On-balance sheet [Member] | Part-Time Farm [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	331,910	321,345
On-balance sheet [Member] | Part-Time Farm [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	9,267	7,725
On-balance sheet [Member] | Part-Time Farm [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	6,379	7,278
On-balance sheet [Member] | Agriculture Storage and Processing [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	12,036	12,097
Past due financing receivables	0	0
On-balance sheet [Member] | Agriculture Storage and Processing [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	10,539	10,604
On-balance sheet [Member] | Agriculture Storage and Processing [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	1,497	1,493
On-balance sheet [Member] | Agriculture Storage and Processing [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	0	0
On-balance sheet [Member] | Other Commodity [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	4,586	4,477
Past due financing receivables	0	0
On-balance sheet [Member] | Other Commodity [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	4,586	4,477
On-balance sheet [Member] | Other Commodity [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	0	0
On-balance sheet [Member] | Other Commodity [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	0	0
Off-balance sheet [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	2,604,688	2,645,649
Past due financing receivables	5,147	7,304
Off-balance sheet [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	2,362,472	2,413,319
Off-balance sheet [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	151,881	130,934
Off-balance sheet [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	90,335	101,396
Off-balance sheet [Member] | Crops [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	1,226,354	1,252,392
Past due financing receivables	4,360	6,476
Off-balance sheet [Member] | Crops [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	1,088,307	1,128,787
Off-balance sheet [Member] | Crops [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	80,802	62,430
Off-balance sheet [Member] | Crops [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	57,245	61,175
Off-balance sheet [Member] | Permanent Plantings [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	509,139	520,769
Past due financing receivables	196	197
Off-balance sheet [Member] | Permanent Plantings [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	476,644	469,479
Off-balance sheet [Member] | Permanent Plantings [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	24,960	36,778
Off-balance sheet [Member] | Permanent Plantings [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	7,535	14,512
Off-balance sheet [Member] | Livestock [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	624,213	628,259
Past due financing receivables	100	0
Off-balance sheet [Member] | Livestock [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	558,864	577,708
Off-balance sheet [Member] | Livestock [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	45,249	30,703
Off-balance sheet [Member] | Livestock [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	20,100	19,848
Off-balance sheet [Member] | Part-Time Farm [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	169,554	167,790
Past due financing receivables	491	631
Off-balance sheet [Member] | Part-Time Farm [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	165,020	162,730
Off-balance sheet [Member] | Part-Time Farm [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	870	1,023
Off-balance sheet [Member] | Part-Time Farm [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	3,664	4,037
Off-balance sheet [Member] | Agriculture Storage and Processing [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	72,285	73,084
Past due financing receivables	0	0
Off-balance sheet [Member] | Agriculture Storage and Processing [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	71,160	71,959
Off-balance sheet [Member] | Agriculture Storage and Processing [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	0	0
Off-balance sheet [Member] | Agriculture Storage and Processing [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	1,125	1,125
Off-balance sheet [Member] | Other Commodity [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	3,143	3,355
Past due financing receivables	0	0
Off-balance sheet [Member] | Other Commodity [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	2,477	2,656
Off-balance sheet [Member] | Other Commodity [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	0	0
Off-balance sheet [Member] | Other Commodity [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross financing receivables	$ 666	$ 699

Loans and Allowance for Losse_8

Loans and Allowance for Losses - Schedule of Concentrations of Risk by Risk Factor (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	$ 7,215,585	$ 7,233,971
Less than $1,000,000 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	2,446,989	2,431,296
$1,000,000 to $4,999,999 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	2,736,397	2,755,996
$5,000,000 to $9,999,999 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	881,847	916,422
$10,000,000 to $24,999,999 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	604,712	601,349
$25,000,000 and greater [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	545,640	528,908
Financing Receivables, Original Loan-To-Value Ratio, Range One [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	$ 1,304,411	1,333,790
Loan-to-value ratio range, lower range limit	0.00%
Loan-to-value ratio range, upper range limit	40.00%
Financing Receivables, Original Loan-To-Value Ratio, Range Two [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	$ 1,831,552	1,811,166
Loan-to-value ratio range, lower range limit	40.01%
Loan-to-value ratio range, upper range limit	50.00%
Financing Receivables, Original Loan-To-Value Ratio, Range Three [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	$ 2,506,962	2,530,484
Loan-to-value ratio range, lower range limit	50.01%
Loan-to-value ratio range, upper range limit	60.00%
Financing Receivables, Original Loan-To-Value Ratio, Range Four [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	$ 1,250,982	1,244,823
Loan-to-value ratio range, lower range limit	60.01%
Loan-to-value ratio range, upper range limit	70.00%
Financing Receivables, Original Loan-To-Value Ratio, Range Five [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	$ 298,001	289,427
Loan-to-value ratio range, lower range limit	70.01%
Loan-to-value ratio range, upper range limit	80.00%
Financing Receivables, Original Loan-To-Value Ratio, Range Six [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	$ 23,677	24,281
Loan-to-value ratio range, lower range limit	80.01%
Loan-to-value ratio range, upper range limit	90.00%
Northwest [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	$ 847,896	855,596
Southwest [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	2,282,664	2,273,184
Mid-North [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	2,287,199	2,296,073
Mid-South [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	893,639	883,279
Northeast [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	337,019	332,370
Southeast [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	567,168	593,469
Crops [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	3,763,456	3,771,627
Permanent Plantings [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	1,492,359	1,509,821
Livestock [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	1,350,610	1,355,372
Part-Time Farm [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	517,110	504,138
Agriculture Storage and Processing [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	84,321	85,181
Other Commodity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross financing receivables	$ 7,729	$ 7,832

Loans and Allowance for Losse_9

Loans and Allowance for Losses - Narrative (Details) $ in Millions	Feb. 19, 2019USD ($)
Purchase of Loans [Member] | CoBank [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Purchase of portfolio of participations in season Rural Utilities loans	$ 546.2

Guarantees and Long-Term Stan_3

Guarantees and Long-Term Standby Purchase Commitments - Off-Balance Sheet Guaranteed Securities (Details) - Unconsolidated VIEs [Member] - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Guarantor Obligations [Line Items]
Total off-balance sheet Farmer Mac Guaranteed Securities	$ 814,606	$ 813,444
Farm & Ranch [Member]
Guarantor Obligations [Line Items]
Total off-balance sheet Farmer Mac Guaranteed Securities	128,221	135,862
USDA Guarantees [Member]
Guarantor Obligations [Line Items]
Total off-balance sheet Farmer Mac Guaranteed Securities	376,487	367,684
Institutional Credit [Member]
Guarantor Obligations [Line Items]
Total off-balance sheet Farmer Mac Guaranteed Securities	9,898	9,898
Revolving Credit Facility [Member] | Institutional Credit [Member]
Guarantor Obligations [Line Items]
Total off-balance sheet Farmer Mac Guaranteed Securities	$ 300,000	$ 300,000

Guarantees and Long-Term Stan_4

Guarantees and Long-Term Standby Purchase Commitments - Cash Flows from Off-balance sheet Guaranteed Securities (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Guarantor Obligations [Line Items]
Proceeds from new securitizations	$ 116,708	$ 131,202
Guarantee fees received	442	546
Purchases of assets from the trusts(1)	$ (4,721)	$ (721)
Farmer Mac Guaranteed Securities [Member]
Guarantor Obligations [Line Items]
Weighted average remaining maturity, loans underlying guarantees not held by transferor	10 years 3 months 15 days		10 years 3 months 15 days
Farmer Mac Guaranteed Securities [Member] | Unconsolidated VIEs [Member]
Guarantor Obligations [Line Items]
Guarantor obligation, liability	$ 2,700		$ 2,800
Institutional Credit [Member] | Farmer Mac Guaranteed Securities [Member]
Guarantor Obligations [Line Items]
Weighted average remaining maturity, loans underlying guarantees not held by transferor	4 years 7 months 90 days		5 years 15 days

Guarantees and Long-Term Stan_5

Guarantees and Long-Term Standby Purchase Commitments - Long-Term Standby Purchase Commitments (Details) - Long-Term Standby Purchase Commitments [Member] - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Guarantor Obligations [Line Items]
Maximum principal amount of potential undiscounted future payments	$ 3,100	$ 3,200
Weighted average remaining maturity, loans underlying guarantees not held by transferor	15 years 4 months 20 days	15 years 3 months 20 days
Guarantee obligations issued after January 1, 2003 [Member]
Guarantor Obligations [Line Items]
Guarantor obligation, liability	$ 35.6	$ 35.9

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($)	3 Months Ended					42 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Mar. 31, 2019	Mar. 14, 2019	Aug. 31, 2017	Sep. 30, 2015
Class of Stock [Line Items]
Quarterly dividend on all classes of common stock (in dollars per share)	$ 0.7	$ 0.58	$ 0.58	$ 0.58	$ 0.58
Common Class C, Non-Voting [Member]
Class of Stock [Line Items]
Stock authorized for repurchase							$ 10,000,000	$ 5,400,000	$ 25,000,000
Shares repurchased (in shares)	0					668,000
Shares repurchased						$ 19,600,000

Equity - Capital Requirements (

Equity - Capital Requirements (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Equity [Abstract]
Capital required for capital adequacy	$ 572,926,000	$ 544,984,000
Capital	742,000,000	727,600,000
Excess capital	$ 169,100,000	$ 182,600,000

Fair Value Disclosures - Narra

Fair Value Disclosures - Narrative (Details) - Level 3 [Member] - USD ($) $ in Billions	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset and liability fair value	$ 6.5	$ 6
Percent of level three fair value assets and liabilities	33.00%	32.00%
Financial instruments level three percent	72.00%	73.00%

Fair Value Disclosures - Fair

Fair Value Disclosures - Fair Value Measurements, Recurring and Nonrecurring (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives	$ 2,153	$ 5,709
Financial derivatives	68,217	27,385
Loans held for investment	6,040,088	5,515,052
REO	1,253	128
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading	9,487	9,999
Financial derivatives	6,053	7,487
Total Assets at fair value	8,915,142	8,209,835
Financial derivatives	22,203	19,633
Total Liabilities at fair value	22,203	19,633
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading	0	0
Financial derivatives	0	0
Total Assets at fair value	1,034,985	792,602
Financial derivatives	94	188
Total Liabilities at fair value	94	188
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading	0	0
Financial derivatives	6,053	7,487
Total Assets at fair value	1,410,134	1,414,022
Financial derivatives	22,109	19,445
Total Liabilities at fair value	22,109	19,445
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading	9,487	9,999
Financial derivatives	0	0
Total Assets at fair value	6,470,023	6,003,211
Financial derivatives	0	0
Total Liabilities at fair value	0	0
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value	1,592	445
Loans held for investment	339	317
REO	1,253	128
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value	0	0
Loans held for investment	0	0
REO	0	0
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value	0	0
Loans held for investment	0	0
REO	0	0
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value	1,592	445
Loans held for investment	339	317
REO	1,253	128
Investment Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	2,457,978	2,217,852
Investment Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	1,034,985	792,602
Investment Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	1,404,081	1,406,535
Investment Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	18,912	18,715
Farmer Mac Guaranteed Securities [Member] | Available-for-sale Securities [Member] | Institutional Credit [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	6,441,624	5,974,497
Farmer Mac Guaranteed Securities [Member] | Available-for-sale Securities [Member] | Institutional Credit [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	0	0
Farmer Mac Guaranteed Securities [Member] | Available-for-sale Securities [Member] | Institutional Credit [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	0	0
Farmer Mac Guaranteed Securities [Member] | Available-for-sale Securities [Member] | Institutional Credit [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	6,441,624	5,974,497
Farmer Mac Guaranteed Securities [Member] | Available-for-sale Securities [Member] | USDA Guarantees [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	6,441,624	5,974,497
Farmer Mac Guaranteed Securities [Member] | Available-for-sale Securities [Member] | USDA Guarantees [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	0	0
Farmer Mac Guaranteed Securities [Member] | Available-for-sale Securities [Member] | USDA Guarantees [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	0	0
Farmer Mac Guaranteed Securities [Member] | Available-for-sale Securities [Member] | USDA Guarantees [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	6,441,624	5,974,497
USDA Securities [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading	9,487	9,999
USDA Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading	0	0
USDA Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading	0	0
USDA Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading	9,487	9,999
Floating Interest Rate [Member] | Floating rate auction-rate certificates backed by Government guaranteed student loans | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	18,912	18,715
Floating Interest Rate [Member] | Floating rate auction-rate certificates backed by Government guaranteed student loans | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	0	0
Floating Interest Rate [Member] | Floating rate auction-rate certificates backed by Government guaranteed student loans | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	0	0
Floating Interest Rate [Member] | Floating rate auction-rate certificates backed by Government guaranteed student loans | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	18,912	18,715
Floating Interest Rate [Member] | Asset-backed Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	27,451	28,678
Floating Interest Rate [Member] | Asset-backed Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	0	0
Floating Interest Rate [Member] | Asset-backed Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	27,451	28,678
Floating Interest Rate [Member] | Asset-backed Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	0	0
Floating Interest Rate [Member] | Government/GSE Guaranteed Mortgage Backed Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	1,376,237	1,377,454
Floating Interest Rate [Member] | Government/GSE Guaranteed Mortgage Backed Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	0	0
Floating Interest Rate [Member] | Government/GSE Guaranteed Mortgage Backed Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	1,376,237	1,377,454
Floating Interest Rate [Member] | Government/GSE Guaranteed Mortgage Backed Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	0	0
Fixed Interest Rate [Member] | Government/GSE Guaranteed Mortgage Backed Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	393	403
Fixed Interest Rate [Member] | Government/GSE Guaranteed Mortgage Backed Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	0	0
Fixed Interest Rate [Member] | Government/GSE Guaranteed Mortgage Backed Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	393	403
Fixed Interest Rate [Member] | Government/GSE Guaranteed Mortgage Backed Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	0	0
Fixed Interest Rate [Member] | US Treasury Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	1,034,985	792,602
Fixed Interest Rate [Member] | US Treasury Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	1,034,985	792,602
Fixed Interest Rate [Member] | US Treasury Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	0	0
Fixed Interest Rate [Member] | US Treasury Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities fair value	$ 0	$ 0

Fair Value Disclosures - Unobs

Fair Value Disclosures - Unobservable Input Reconciliation (Details) - Fair Value, Inputs, Level 3 [Member] - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 6,003,211	$ 5,508,576
Cumulative Effect from Change in Hedge Accounting		487
Purchases	795,260	689,740
Sales	(18,928)	(34,293)
Settlements	(372,289)	(292,350)
Realized and Unrealized Gains included in Income	59,396	(18,932)
Unrealized Gains included in Other Comprehensive Income	3,373	20,847
Ending Balance	6,470,023	5,874,075
USDA Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	9,999	13,515
Cumulative Effect from Change in Hedge Accounting		0
Purchases	18,928	34,293
Sales	(18,928)	(34,293)
Settlements	(556)	(1,973)
Realized and Unrealized Gains included in Income	44	16
Unrealized Gains included in Other Comprehensive Income	0	0
Ending Balance	9,487	11,558
Unrealized Gains		100
Available-for-sale Securities [Member] | Investment Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	18,715	23,147
Cumulative Effect from Change in Hedge Accounting		0
Purchases	0	0
Sales	0	0
Settlements	0	(109)
Realized and Unrealized Gains included in Income	0	0
Unrealized Gains included in Other Comprehensive Income	197	92
Ending Balance	18,912	23,130
Available-for-sale Securities [Member] | Farmer Mac Guaranteed Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	5,974,497	5,471,914
Cumulative Effect from Change in Hedge Accounting		487
Purchases	776,332	655,447
Sales	0	0
Settlements	(371,733)	(290,268)
Realized and Unrealized Gains included in Income	59,352	(18,948)
Unrealized Gains included in Other Comprehensive Income	3,176	20,755
Ending Balance	6,441,624	5,839,387
Available-for-sale Securities [Member] | USDA Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	0	0
Cumulative Effect from Change in Hedge Accounting		0
Purchases	18,928	34,293
Sales	(18,928)	(34,293)
Settlements	0	0
Realized and Unrealized Gains included in Income	0	0
Unrealized Gains included in Other Comprehensive Income	0	0
Ending Balance	0	0
Trading Securities [Member] | USDA Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	9,999	13,515
Cumulative Effect from Change in Hedge Accounting		0
Purchases	0	0
Sales	0	0
Settlements	(556)	(1,973)
Realized and Unrealized Gains included in Income	44	16
Unrealized Gains included in Other Comprehensive Income	0	0
Ending Balance	9,487	11,558
Institutional Credit [Member] | Available-for-sale Securities [Member] | Farmer Mac Guaranteed Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	5,974,497	5,471,914
Cumulative Effect from Change in Hedge Accounting		487
Purchases	776,332	655,447
Sales	0	0
Settlements	(371,733)	(290,268)
Realized and Unrealized Gains included in Income	59,352	(18,948)
Unrealized Gains included in Other Comprehensive Income	3,176	20,755
Ending Balance	6,441,624	5,839,387
Floating Interest Rate [Member] | Available-for-sale Securities [Member] | Floating rate auction-rate certificates backed by Government guaranteed student loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	18,715	18,814
Cumulative Effect from Change in Hedge Accounting		0
Purchases	0	0
Sales	0	0
Settlements	0	0
Realized and Unrealized Gains included in Income	0	0
Unrealized Gains included in Other Comprehensive Income	197	196
Ending Balance	$ 18,912	19,010
Fixed Interest Rate [Member] | Available-for-sale Securities [Member] | Collateralized Mortgage Backed Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance		4,333
Cumulative Effect from Change in Hedge Accounting		0
Purchases		0
Sales		0
Settlements		(109)
Realized and Unrealized Gains included in Income		0
Unrealized Gains included in Other Comprehensive Income		(104)
Ending Balance		$ 4,120

Fair Value Disclosures - Quant

Fair Value Disclosures - Quantitative Information (Details) - Fair Value, Measurements, Recurring [Member] - Fair Value, Inputs, Level 3 [Member] $ in Thousands	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 6,470,023	$ 6,003,211	$ 5,874,075	$ 5,508,576
USDA Securities [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	9,487	9,999	11,558	13,515
Available-for-sale Securities [Member] | Farmer Mac Guaranteed Securities [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	6,441,624	5,974,497	5,839,387	5,471,914
Available-for-sale Securities [Member] | USDA Securities [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	0	0	0	0
Available-for-sale Securities [Member] | Institutional Credit [Member] | Farmer Mac Guaranteed Securities [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	6,441,624	5,974,497	5,839,387	5,471,914
Trading Securities [Member] | USDA Securities [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 9,487	$ 9,999	$ 11,558	$ 13,515
Measurement Input, Range of Broker Quotes [Member] | Minimum [Member] | Floating rate auction-rate certificates backed by Government guaranteed student loans | Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment securities, measurement input	0.960	0.950
Measurement Input, Range of Broker Quotes [Member] | Maximum [Member] | Floating rate auction-rate certificates backed by Government guaranteed student loans | Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment securities, measurement input	0.960	0.950
Measurement Input, Range of Broker Quotes [Member] | Weighted Average [Member] | Floating rate auction-rate certificates backed by Government guaranteed student loans | Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment securities, measurement input	0.960	0.950
Measurement Input, Discount Rate [Member] | Minimum [Member] | Institutional Credit [Member] | Farmer Mac Guaranteed Securities [Member] | Valuation, Cost Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment securities, measurement input	0.017	0.030
Measurement Input, Discount Rate [Member] | Minimum [Member] | USDA Guarantees [Member] | USDA Securities [Member] | Valuation, Cost Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
USDA securities, measurement input	0.031	0.032
Measurement Input, Discount Rate [Member] | Maximum [Member] | Institutional Credit [Member] | Farmer Mac Guaranteed Securities [Member] | Valuation, Cost Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment securities, measurement input	0.042	0.044
Measurement Input, Discount Rate [Member] | Maximum [Member] | USDA Guarantees [Member] | USDA Securities [Member] | Valuation, Cost Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
USDA securities, measurement input	0.052	0.052
Measurement Input, Discount Rate [Member] | Weighted Average [Member] | Institutional Credit [Member] | Farmer Mac Guaranteed Securities [Member] | Valuation, Cost Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment securities, measurement input	0.031	0.033
Measurement Input, Discount Rate [Member] | Weighted Average [Member] | USDA Guarantees [Member] | USDA Securities [Member] | Valuation, Cost Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
USDA securities, measurement input	0.049	0.049
Measurement Input, Constant Prepayment Rate [Member] | Minimum [Member] | USDA Guarantees [Member] | USDA Securities [Member] | Valuation, Cost Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
USDA securities, measurement input	0.07	0.07
Measurement Input, Constant Prepayment Rate [Member] | Maximum [Member] | USDA Guarantees [Member] | USDA Securities [Member] | Valuation, Cost Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
USDA securities, measurement input	0.19	0.17
Measurement Input, Constant Prepayment Rate [Member] | Weighted Average [Member] | USDA Guarantees [Member] | USDA Securities [Member] | Valuation, Cost Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
USDA securities, measurement input	0.17	0.16

Fair Value Disclosures - Summa

Fair Value Disclosures - Summary of Carrying Value and Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial derivatives	$ 2,153	$ 5,709
Guarantee and commitment fees receivable:	39,913	40,366
Financial derivatives	68,217	27,385
Guarantee and commitment obligation	38,288	38,683
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	376,122	425,256
Loans	6,092,347	5,512,781
Financial derivatives	6,053	7,487
Debt securities of consolidated trusts held by third parties	1,575,585	1,501,754
Financial derivatives	22,203	19,633
Fair Value [Member] | Investment Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	2,503,936	2,263,446
Fair Value [Member] | Farmer Mac Guaranteed Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	8,483,379	8,061,903
Fair Value [Member] | USDA Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	2,113,391	2,113,946
Fair Value [Member] | Long-Term Standby Purchase Commitments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Guarantee and commitment fees receivable:	36,049	37,461
Guarantee and commitment obligation	35,026	36,471
Fair Value [Member] | Farmer Mac Guaranteed Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Guarantee and commitment fees receivable:	3,073	3,424
Guarantee and commitment obligation	2,472	2,731
Fair Value [Member] | Due within one year [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable:	8,564,034	7,744,388
Fair Value [Member] | Long-term Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable:	8,726,760	8,473,558
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	376,122	425,256
Loans	6,040,088	5,515,052
Financial derivatives	6,053	7,487
Debt securities of consolidated trusts held by third parties	1,567,195	1,528,957
Financial derivatives	22,203	19,633
Carrying Amount [Member] | Investment Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	2,503,010	2,262,884
Carrying Amount [Member] | Farmer Mac Guaranteed Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	8,482,039	8,071,115
Carrying Amount [Member] | USDA Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	2,134,799	2,176,173
Carrying Amount [Member] | Long-Term Standby Purchase Commitments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Guarantee and commitment fees receivable:	36,660	36,870
Guarantee and commitment obligation	35,637	35,880
Carrying Amount [Member] | Farmer Mac Guaranteed Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Guarantee and commitment fees receivable:	3,253	3,496
Guarantee and commitment obligation	2,651	2,803
Carrying Amount [Member] | Due within one year [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable:	8,571,615	7,757,050
Carrying Amount [Member] | Long-term Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable:	$ 8,679,287	$ 8,486,647

Business Segment Reporting - C

Business Segment Reporting - Core Earnings - Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Segment Reporting Information, Profit (Loss) [Abstract]
Net interest income	$ 40,599	$ 43,229
Guarantee and commitment fees	3,513	3,499
Other income/(expense)	177	(3,260)
Non-interest income	3,690	239
Release of loan losses	264	431
Release of reserve for losses	129	(21)
Other non-interest expense	(12,890)	(11,621)
Non-interest expense	(12,761)	(11,642)
Core earnings before income taxes	31,792	32,257
Income tax (expense)/benefit	(6,622)	(6,438)
Core earnings before preferred stock dividends and attribution of income to non-controlling interest	25,170	25,819
Preferred stock dividends	(3,296)	(3,295)
Segment core earnings/(losses)	21,874	22,524
Total assets at carrying value	19,797,777	18,397,236	$ 18,694,328
Total on- and off-balance sheet program assets at principal balance	20,506,913	19,379,443
Farm & Ranch [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Net interest income	15,282	14,941
Less: reconciling adjustments	(2,545)	(2,401)
Net effective spread	12,737	12,540
Guarantee and commitment fees	4,744	4,378
Other income/(expense)	480	557
Non-interest income	5,224	4,935
Release of loan losses	264	431
Release of reserve for losses	129	(21)
Other non-interest expense	(4,799)	(4,520)
Non-interest expense	(4,670)	(4,541)
Core earnings before income taxes	13,555	13,365
Income tax (expense)/benefit	(2,847)	(2,807)
Core earnings before preferred stock dividends and attribution of income to non-controlling interest	10,708	10,558
Preferred stock dividends	0	0
Segment core earnings/(losses)	10,708	10,558
Total assets at carrying value	4,698,250	4,306,960
Total on- and off-balance sheet program assets at principal balance	7,215,585	6,932,002
USDA Guarantees [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Net interest income	4,442	5,070
Less: reconciling adjustments	(478)	(670)
Net effective spread	3,964	4,400
Guarantee and commitment fees	224	166
Other income/(expense)	0	5
Non-interest income	224	171
Release of loan losses	0	0
Release of reserve for losses	0	0
Other non-interest expense	(1,428)	(1,193)
Non-interest expense	(1,428)	(1,193)
Core earnings before income taxes	2,760	3,378
Income tax (expense)/benefit	(580)	(709)
Core earnings before preferred stock dividends and attribution of income to non-controlling interest	2,180	2,669
Preferred stock dividends	0	0
Segment core earnings/(losses)	2,180	2,669
Total assets at carrying value	2,191,896	2,195,714
Total on- and off-balance sheet program assets at principal balance	2,484,779	2,391,739
Rural Utilities [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Net interest income	(274)	2,537
Less: reconciling adjustments	3,507	413
Net effective spread	3,233	2,950
Guarantee and commitment fees	363	449
Other income/(expense)	7	5
Non-interest income	370	454
Release of loan losses	0	0
Release of reserve for losses	0	0
Other non-interest expense	(866)	(673)
Non-interest expense	(866)	(673)
Core earnings before income taxes	2,737	2,731
Income tax (expense)/benefit	(575)	(574)
Core earnings before preferred stock dividends and attribution of income to non-controlling interest	2,162	2,157
Preferred stock dividends	0	0
Segment core earnings/(losses)	2,162	2,157
Total assets at carrying value	1,443,393	1,043,335
Total on- and off-balance sheet program assets at principal balance	2,074,714	1,729,797
Institutional Credit [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Net interest income	18,187	17,832
Less: reconciling adjustments	(1,814)	(3,008)
Net effective spread	16,373	14,824
Guarantee and commitment fees	88	90
Other income/(expense)	0	0
Non-interest income	88	90
Release of loan losses	0	0
Release of reserve for losses	0	0
Other non-interest expense	(2,159)	(1,846)
Non-interest expense	(2,159)	(1,846)
Core earnings before income taxes	14,302	13,068
Income tax (expense)/benefit	(3,003)	(2,744)
Core earnings before preferred stock dividends and attribution of income to non-controlling interest	11,299	10,324
Preferred stock dividends	0	0
Segment core earnings/(losses)	11,299	10,324
Total assets at carrying value	8,502,084	8,066,231
Total on- and off-balance sheet program assets at principal balance	8,731,835	8,325,905
Corporate Segment [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Net interest income	2,962	2,849
Less: reconciling adjustments	(468)	(462)
Net effective spread	2,494	2,387
Guarantee and commitment fees	0	0
Other income/(expense)	22	(139)
Non-interest income	22	(139)
Release of loan losses	0	0
Release of reserve for losses	0	0
Other non-interest expense	(3,638)	(3,389)
Non-interest expense	(3,638)	(3,389)
Core earnings before income taxes	(1,122)	(1,141)
Income tax (expense)/benefit	290	575
Core earnings before preferred stock dividends and attribution of income to non-controlling interest	(832)	(566)
Preferred stock dividends	(3,296)	(3,295)
Segment core earnings/(losses)	(4,128)	(3,861)
Total assets at carrying value	2,962,154	2,784,996
Total on- and off-balance sheet program assets at principal balance	0	0
Segment Reconciling Items [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Net interest income	0	0
Less: reconciling adjustments	1,798	6,128
Net effective spread	1,798	6,128
Guarantee and commitment fees	(1,906)	(1,584)
Other income/(expense)	(332)	(3,688)
Non-interest income	(2,238)	(5,272)
Release of loan losses	0	0
Release of reserve for losses	0	0
Other non-interest expense	0	0
Non-interest expense	0	0
Core earnings before income taxes	(440)	856
Income tax (expense)/benefit	93	(179)
Core earnings before preferred stock dividends and attribution of income to non-controlling interest	(347)	677
Preferred stock dividends	0	0
Segment core earnings/(losses)	(347)	677
Total assets at carrying value	0	0
Total on- and off-balance sheet program assets at principal balance	$ 0	$ 0

Uncategorized Items - agm-20190

Label	Element	Value
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1	$ 498,000
Common Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	$ 10,619,000
Shares, Outstanding	us-gaap_SharesOutstanding	10,619,000
Retained Earnings [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	$ 323,175,000
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1	471,000
Preferred Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	$ 204,759,000
Shares, Outstanding	us-gaap_SharesOutstanding	8,400,000
AOCI Including Portion Attributable to Noncontrolling Interest [Member]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1	$ 27,000
Additional Paid-in Capital [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	$ 118,979,000