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v3.20.1

Business Segment Reporting - Core Earnings - Business Segments (Details) - USD ($) $ in Thousands | 3 Months Ended |
--- | --- | ---
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |
Net interest income | $ 41,312 | $ 40,599 |
Less: reconciling adjustments | 0 | 0 |
Net effective spread | 0 | 0 |
Guarantee and commitment fees | 3,196 | 3,513 |
Other income/(expense) | (7,891) | 177 |
Non-interest income/(loss) | (4,695) | 3,690 |
(Provision for)/release of losses | (3,438) | 264 |
Provision for reserve for losses | (393) | 129 |
Other non-interest expense | (16,215) | (12,890) |
Non-interest expense | (16,608) | (12,761) |
Core earnings before income taxes | 16,571 | 31,792 |
Income tax (expense)/benefit | (3,741) | (6,622) |
Core earnings before preferred stock dividends | 12,830 | 25,170 |
Preferred stock dividends | (3,431) | (3,296) |
Segment core earnings/(losses) | 9,399 | 21,874 |
Total assets at carrying value | 23,180,110 | 19,797,777 | $ 21,709,374
Total on- and off-balance sheet program assets at principal balance | 21,539,312 | 20,506,913 |
Corporate |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |
Net interest income | 1,855 | 2,962 |
Less: reconciling adjustments | 123 | (468) |
Net effective spread | 1,978 | 2,494 |
Guarantee and commitment fees | 0 | 0 |
Other income/(expense) | (129) | 22 |
Non-interest income/(loss) | (129) | 22 |
(Provision for)/release of losses | (14) | 0 |
Provision for reserve for losses | 0 | 0 |
Other non-interest expense | (4,433) | (3,638) |
Non-interest expense | (4,433) | (3,638) |
Core earnings before income taxes | (2,598) | (1,122) |
Income tax (expense)/benefit | 283 | 290 |
Core earnings before preferred stock dividends | (2,315) | (832) |
Preferred stock dividends | (3,431) | (3,296) |
Segment core earnings/(losses) | (5,746) | (4,128) |
Total assets at carrying value | 4,367,223 | 2,962,154 |
Total on- and off-balance sheet program assets at principal balance | 0 | 0 |
Reconciling Adjustments |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |
Net interest income | 0 | 0 |
Less: reconciling adjustments | (2,851) | 1,798 |
Net effective spread | (2,851) | 1,798 |
Guarantee and commitment fees | (1,700) | (1,906) |
Other income/(expense) | (9,050) | (332) |
Non-interest income/(loss) | (10,750) | (2,238) |
(Provision for)/release of losses | 0 | 0 |
Provision for reserve for losses | 0 | 0 |
Other non-interest expense | 0 | 0 |
Non-interest expense | 0 | 0 |
Core earnings before income taxes | (13,601) | (440) |
Income tax (expense)/benefit | 2,857 | 93 |
Core earnings before preferred stock dividends | (10,744) | (347) |
Preferred stock dividends | 0 | 0 |
Segment core earnings/(losses) | (10,744) | (347) |
Total assets at carrying value | 0 | 0 |
Total on- and off-balance sheet program assets at principal balance | 0 | 0 |
Farm & Ranch |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |
(Provision for)/release of losses | (808) |  |
Provision for reserve for losses | (4) | 129 |
Farm & Ranch | Operating Segments |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |
Net interest income | 16,365 | 15,282 |
Less: reconciling adjustments | (1,427) | (2,545) |
Net effective spread | 14,938 | 12,737 |
Guarantee and commitment fees | 4,317 | 4,744 |
Other income/(expense) | 1,169 | 480 |
Non-interest income/(loss) | 5,486 | 5,224 |
(Provision for)/release of losses | (808) | 264 |
Provision for reserve for losses | (4) | 129 |
Other non-interest expense | (5,997) | (4,799) |
Non-interest expense | (6,001) | (4,670) |
Core earnings before income taxes | 13,615 | 13,555 |
Income tax (expense)/benefit | (2,859) | (2,847) |
Core earnings before preferred stock dividends | 10,756 | 10,708 |
Preferred stock dividends | 0 | 0 |
Segment core earnings/(losses) | 10,756 | 10,708 |
Total assets at carrying value | 5,457,134 | 4,698,250 |
Total on- and off-balance sheet program assets at principal balance | 7,811,594 | 7,215,585 |
USDA Guarantees | Operating Segments |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |
Net interest income | 4,541 | 4,442 |
Less: reconciling adjustments | 84 | (478) |
Net effective spread | 4,625 | 3,964 |
Guarantee and commitment fees | 235 | 224 |
Other income/(expense) | 112 | 0 |
Non-interest income/(loss) | 347 | 224 |
(Provision for)/release of losses | 0 | 0 |
Provision for reserve for losses | 0 | 0 |
Other non-interest expense | (1,818) | (1,428) |
Non-interest expense | (1,818) | (1,428) |
Core earnings before income taxes | 3,154 | 2,760 |
Income tax (expense)/benefit | (662) | (580) |
Core earnings before preferred stock dividends | 2,492 | 2,180 |
Preferred stock dividends | 0 | 0 |
Segment core earnings/(losses) | 2,492 | 2,180 |
Total assets at carrying value | 2,341,698 | 2,191,896 |
Total on- and off-balance sheet program assets at principal balance | 2,646,206 | 2,484,779 |
Rural Utilities |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |
(Provision for)/release of losses | (2,125) |  |
Provision for reserve for losses | (389) | 0 |
Rural Utilities | Operating Segments |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |
Net interest income | 4,747 | (274) |
Less: reconciling adjustments | 173 | 3,507 |
Net effective spread | 4,920 | 3,233 |
Guarantee and commitment fees | 335 | 363 |
Other income/(expense) | 7 | 7 |
Non-interest income/(loss) | 342 | 370 |
(Provision for)/release of losses | (2,125) | 0 |
Provision for reserve for losses | (389) | 0 |
Other non-interest expense | (1,604) | (866) |
Non-interest expense | (1,993) | (866) |
Core earnings before income taxes | 1,144 | 2,737 |
Income tax (expense)/benefit | (240) | (575) |
Core earnings before preferred stock dividends | 904 | 2,162 |
Preferred stock dividends | 0 | 0 |
Segment core earnings/(losses) | 904 | 2,162 |
Total assets at carrying value | 1,964,901 | 1,443,393 |
Total on- and off-balance sheet program assets at principal balance | 2,385,411 | 2,074,714 |
Institutional Credit | Operating Segments |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |
Net interest income | 13,804 | 18,187 |
Less: reconciling adjustments | 3,898 | (1,814) |
Net effective spread | 17,702 | 16,373 |
Guarantee and commitment fees | 9 | 88 |
Other income/(expense) | 0 | 0 |
Non-interest income/(loss) | 9 | 88 |
(Provision for)/release of losses | (491) | 0 |
Provision for reserve for losses | 0 | 0 |
Other non-interest expense | (2,363) | (2,159) |
Non-interest expense | (2,363) | (2,159) |
Core earnings before income taxes | 14,857 | 14,302 |
Income tax (expense)/benefit | (3,120) | (3,003) |
Core earnings before preferred stock dividends | 11,737 | 11,299 |
Preferred stock dividends | 0 | 0 |
Segment core earnings/(losses) | 11,737 | 11,299 |
Total assets at carrying value | 9,049,154 | 8,502,084 |
Total on- and off-balance sheet program assets at principal balance | $ 8,696,101 | $ 8,731,835 |

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