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v3.21.1

Business Segment Reporting - Core Earnings (Details) - USD ($) $ in Thousands | 3 Months Ended |  |
--- | --- | --- | ---
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |  |
Net interest income | $ 53,251 | $ 41,312 |  |
Less: reconciling adjustments | 0 | 0 |  |
Net effective spread | 0 | 0 |  |
Guarantee and commitment fees | 3,030 | 3,196 |  |
Other income/(expense) | 4,863 | (7,891) |  |
Non-interest income/(loss) | 7,893 | (4,695) |  |
Release of/(provision for) losses | (913) | (3,438) |  |
Release of reserve for losses | 944 | (393) |  |
Other non-interest expense | (18,881) | (16,215) |  |
Non-interest expense | (17,937) | (16,608) |  |
Core earnings before income taxes | 42,294 | 16,571 |  |
Income tax (expense)/benefit | (9,067) | (3,741) |  |
Core earnings before preferred stock dividends | 33,227 | 12,830 |  |
Preferred stock dividends | (5,269) | (3,431) |  |
Segment core earnings | 27,958 | 9,399 |  |
Total assets at carrying value | 24,013,911 | 23,180,110 | $ 24,013,911 | $ 24,355,501
Total on- and off-balance sheet program assets at principal balance |  | 21,539,312 | $ 21,862,531 |
Corporate |  |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |  |
Net interest income | 2,535 | 1,855 |  |
Less: reconciling adjustments | 156 | 123 |  |
Net effective spread | 2,691 | 1,978 |  |
Guarantee and commitment fees | 0 | 0 |  |
Other income/(expense) | (123) | (129) |  |
Non-interest income/(loss) | (123) | (129) |  |
Release of/(provision for) losses | (25) | (14) |  |
Release of reserve for losses | 0 | 0 |  |
Other non-interest expense | (5,152) | (4,433) |  |
Non-interest expense | (5,152) | (4,433) |  |
Core earnings before income taxes | (2,609) | (2,598) |  |
Income tax (expense)/benefit | 365 | 283 |  |
Core earnings before preferred stock dividends | (2,244) | (2,315) |  |
Preferred stock dividends | (5,269) | (3,431) |  |
Segment core earnings | (7,513) | (5,746) |  |
Total assets at carrying value | 4,923,589 | 4,367,223 |  |
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 | (608) | (2,851) |  |
Net effective spread | (608) | (2,851) |  |
Guarantee and commitment fees | (1,210) | (1,700) |  |
Other income/(expense) | 4,412 | (9,050) |  |
Non-interest income/(loss) | 3,202 | (10,750) |  |
Release of/(provision for) 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 | 2,594 | (13,601) |  |
Income tax (expense)/benefit | (547) | 2,857 |  |
Core earnings before preferred stock dividends | 2,047 | (10,744) |  |
Preferred stock dividends | 0 | 0 |  |
Segment core earnings | 2,047 | (10,744) |  |
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] |  |  |  |
Release of/(provision for) losses | 27 | (808) |  |
Release of reserve for losses | 731 | (4) |  |
Farm & Ranch | Operating Segments |  |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |  |
Net interest income | 21,855 | 16,365 |  |
Less: reconciling adjustments | (401) | (1,427) |  |
Net effective spread | 21,454 | 14,938 |  |
Guarantee and commitment fees | 3,733 | 4,317 |  |
Other income/(expense) | 404 | 1,169 |  |
Non-interest income/(loss) | 4,137 | 5,486 |  |
Release of/(provision for) losses | 27 | (808) |  |
Release of reserve for losses | 731 | (4) |  |
Other non-interest expense | (6,549) | (5,997) |  |
Non-interest expense | (5,818) | (6,001) |  |
Core earnings before income taxes | 19,800 | 13,615 |  |
Income tax (expense)/benefit | (4,158) | (2,859) |  |
Core earnings before preferred stock dividends | 15,642 | 10,756 |  |
Preferred stock dividends | 0 | 0 |  |
Segment core earnings | 15,642 | 10,756 |  |
Total assets at carrying value | 6,395,438 | 5,457,134 |  |
Total on- and off-balance sheet program assets at principal balance | 8,629,352 | 7,811,594 |  |
USDA Guarantees | Operating Segments |  |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |  |
Net interest income | 5,689 | 4,541 |  |
Less: reconciling adjustments | 678 | 84 |  |
Net effective spread | 6,367 | 4,625 |  |
Guarantee and commitment fees | 183 | 235 |  |
Other income/(expense) | 169 | 112 |  |
Non-interest income/(loss) | 352 | 347 |  |
Release of/(provision for) losses | 0 | 0 |  |
Release of reserve for losses | 0 | 0 |  |
Other non-interest expense | (2,533) | (1,818) |  |
Non-interest expense | (2,533) | (1,818) |  |
Core earnings before income taxes | 4,186 | 3,154 |  |
Income tax (expense)/benefit | (879) | (662) |  |
Core earnings before preferred stock dividends | 3,307 | 2,492 |  |
Preferred stock dividends | 0 | 0 |  |
Segment core earnings | 3,307 | 2,492 |  |
Total assets at carrying value | 2,557,412 | 2,341,698 |  |
Total on- and off-balance sheet program assets at principal balance | 2,787,065 | 2,646,206 |  |
Rural Utilities |  |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |  |
Release of/(provision for) losses | (1,002) | (2,125) |  |
Release of reserve for losses | 213 | (389) |  |
Rural Utilities | Operating Segments |  |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |  |
Net interest income | 7,649 | 4,747 |  |
Less: reconciling adjustments | (975) | 173 |  |
Net effective spread | 6,674 | 4,920 |  |
Guarantee and commitment fees | 319 | 335 |  |
Other income/(expense) | 1 | 7 |  |
Non-interest income/(loss) | 320 | 342 |  |
Release of/(provision for) losses | (1,002) | (2,125) |  |
Release of reserve for losses | 213 | (389) |  |
Other non-interest expense | (2,057) | (1,604) |  |
Non-interest expense | (1,844) | (1,993) |  |
Core earnings before income taxes | 4,148 | 1,144 |  |
Income tax (expense)/benefit | (871) | (240) |  |
Core earnings before preferred stock dividends | 3,277 | 904 |  |
Preferred stock dividends | 0 | 0 |  |
Segment core earnings | 3,277 | 904 |  |
Total assets at carrying value | 2,207,810 | 1,964,901 |  |
Total on- and off-balance sheet program assets at principal balance | 2,804,437 | 2,385,411 |  |
Institutional Credit | Operating Segments |  |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |  |
Net interest income | 15,523 | 13,804 |  |
Less: reconciling adjustments | 1,150 | 3,898 |  |
Net effective spread | 16,673 | 17,702 |  |
Guarantee and commitment fees | 5 | 9 |  |
Other income/(expense) | 0 | 0 |  |
Non-interest income/(loss) | 5 | 9 |  |
Release of/(provision for) losses | 87 | (491) |  |
Release of reserve for losses | 0 | 0 |  |
Other non-interest expense | (2,590) | (2,363) |  |
Non-interest expense | (2,590) | (2,363) |  |
Core earnings before income taxes | 14,175 | 14,857 |  |
Income tax (expense)/benefit | (2,977) | (3,120) |  |
Core earnings before preferred stock dividends | 11,198 | 11,737 |  |
Preferred stock dividends | 0 | 0 |  |
Segment core earnings | 11,198 | 11,737 |  |
Total assets at carrying value | 7,929,662 | 9,049,154 |  |
Total on- and off-balance sheet program assets at principal balance | $ 7,641,677 | $ 8,696,101 |  |

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