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Business Segment Reporting - Core Earnings (Details) $ in Thousands | 3 Months Ended | 9 Months Ended |
--- | --- | --- | ---
Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) segment | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($)
Segment Reporting [Abstract] |  |  |  |  |
Number of operating segments | segment |  |  | 7 |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |  |  |
Net interest income | $ 87,643 | $ 67,853 | $ 245,378 | $ 197,305 |
Guarantee and commitment fees | 5,520 | 2,643 | 12,942 | 9,551 |
Other income/(expense) | 3,940 | 1,382 | 8,016 | 23,281 |
Total revenues | 97,103 | 71,878 | 266,336 | 230,137 |
Release of/(provision for) losses | 136 | (617) | (1,484) | 699 |
Release of/(provision for) reserve for losses | 45 | 167 | (227) | 440 |
Operating expenses | (24,034) | (19,379) | (71,935) | (60,815) |
Total non-interest expense | (23,989) | (19,212) | (72,162) | (60,375) |
Core earnings before income taxes | 73,250 | 52,049 | 192,690 | 170,461 |
Income tax (expense)/benefit | (15,113) | (10,631) | (40,306) | (35,735) |
Core earnings before preferred stock dividends | 58,137 | 41,418 | 152,384 | 134,726 |
Preferred stock dividends | (6,792) | (6,791) | (20,374) | (20,374) |
Segment core earnings/(losses) | 51,345 | 34,627 | 132,010 | 114,352 |
Total Assets | 28,311,381 | 26,441,588 | 28,311,381 | 26,441,588 | $ 27,333,110
Total on- and off-balance sheet program assets at principal balance | 27,652,011 | 25,326,638 | 27,652,011 | 25,326,638 |
Reconciling Adjustments |  |  |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |  |  |
Net interest income | 0 | 0 | 0 | 0 |
Less: reconciling adjustments | 4,219 | 2,212 | 2,949 | 12,879 |
Net effective spread | 4,219 | 2,212 | 2,949 | 12,879 |
Guarantee and commitment fees | 692 | (1,558) | (1,121) | (3,916) |
Other income/(expense) | 2,884 | 909 | 5,484 | 21,987 |
Total revenues | 7,795 | 1,563 | 7,312 | 30,950 |
Release of/(provision for) losses | 0 | 0 | 0 | 0 |
Release of/(provision for) reserve for losses | 0 | 0 | 0 | 0 |
Operating expenses | 0 | 0 | 0 | 0 |
Total non-interest expense | 0 | 0 | 0 | 0 |
Core earnings before income taxes | 7,795 | 1,563 | 7,312 | 30,950 |
Income tax (expense)/benefit | (1,638) | (328) | (1,536) | (6,499) |
Core earnings before preferred stock dividends | 6,157 | 1,235 | 5,776 | 24,451 |
Preferred stock dividends | 0 | 0 | 0 | 0 |
Segment core earnings/(losses) | 6,157 | 1,235 | 5,776 | 24,451 |
Total Assets | 0 | 0 | 0 | 0 |
Total on- and off-balance sheet program assets at principal balance | 0 | 0 | 0 | 0 |
Farm & Ranch |  |  |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |  |  |
Release of/(provision for) losses | 25 | 153 | 134 | 686 |
Farm & Ranch | Operating Segments |  |  |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |  |  |
Net interest income | 33,735 | 34,173 | 102,671 | 99,197 |
Less: reconciling adjustments | (1,017) | (830) | (3,100) | (2,910) |
Net effective spread | 32,718 | 33,343 | 99,571 | 96,287 |
Guarantee and commitment fees | 4,447 | 3,833 | 12,960 | 12,387 |
Other income/(expense) | 807 | 469 | 2,216 | 1,030 |
Total revenues | 37,972 | 37,645 | 114,747 | 109,704 |
Release of/(provision for) losses | 13 | 93 | 136 | 440 |
Release of/(provision for) reserve for losses | 58 | 139 | (594) | 324 |
Operating expenses | 0 | 0 | 0 | 0 |
Total non-interest expense | 58 | 139 | (594) | 324 |
Core earnings before income taxes | 38,043 | 37,877 | 114,289 | 110,468 |
Income tax (expense)/benefit | (7,989) | (7,953) | (24,001) | (23,196) |
Core earnings before preferred stock dividends | 30,054 | 29,924 | 90,288 | 87,272 |
Preferred stock dividends | 0 | 0 | 0 | 0 |
Segment core earnings/(losses) | 30,054 | 29,924 | 90,288 | 87,272 |
Total Assets | 14,660,371 | 14,113,686 | 14,660,371 | 14,113,686 |
Total on- and off-balance sheet program assets at principal balance | 18,461,835 | 17,199,347 | 18,461,835 | 17,199,347 |
Corporate AgFinance |  |  |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |  |  |
Release of/(provision for) losses | 3,689 | (334) | (947) | (1,524) |
Corporate AgFinance | Operating Segments |  |  |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |  |  |
Net interest income | 8,250 | 7,600 | 22,842 | 21,738 |
Less: reconciling adjustments | 0 | 0 | 0 | 0 |
Net effective spread | 8,250 | 7,600 | 22,842 | 21,738 |
Guarantee and commitment fees | 78 | 46 | 193 | 108 |
Other income/(expense) | 0 | 4 | 12 | 261 |
Total revenues | 8,328 | 7,650 | 23,047 | 22,107 |
Release of/(provision for) losses | 3,694 | (333) | (934) | (1,498) |
Release of/(provision for) reserve for losses | 0 | 0 | 0 | 0 |
Operating expenses | 0 | 0 | 0 | 0 |
Total non-interest expense | 0 | 0 | 0 | 0 |
Core earnings before income taxes | 12,022 | 7,317 | 22,113 | 20,609 |
Income tax (expense)/benefit | (2,525) | (1,536) | (4,644) | (4,327) |
Core earnings before preferred stock dividends | 9,497 | 5,781 | 17,469 | 16,282 |
Preferred stock dividends | 0 | 0 | 0 | 0 |
Segment core earnings/(losses) | 9,497 | 5,781 | 17,469 | 16,282 |
Total Assets | 1,619,664 | 1,558,139 | 1,619,664 | 1,558,139 |
Total on- and off-balance sheet program assets at principal balance | 1,741,306 | 1,634,786 | 1,741,306 | 1,634,786 |
Rural Utilities | Operating Segments |  |  |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |  |  |
Net interest income | 6,393 | 4,253 | 17,772 | 11,218 |
Less: reconciling adjustments | (31) | (33) | (95) | (106) |
Net effective spread | 6,362 | 4,220 | 17,677 | 11,112 |
Guarantee and commitment fees | 279 | 309 | 841 | 929 |
Other income/(expense) | 0 | 0 | 0 | 0 |
Total revenues | 6,641 | 4,529 | 18,518 | 12,041 |
Release of/(provision for) losses | (3,504) | (414) | (652) | 1,927 |
Release of/(provision for) reserve for losses | (13) | 28 | 367 | 116 |
Operating expenses | 0 | 0 | 0 | 0 |
Total non-interest expense | (13) | 28 | 367 | 116 |
Core earnings before income taxes | 3,124 | 4,143 | 18,233 | 14,084 |
Income tax (expense)/benefit | (656) | (869) | (3,829) | (2,956) |
Core earnings before preferred stock dividends | 2,468 | 3,274 | 14,404 | 11,128 |
Preferred stock dividends | 0 | 0 | 0 | 0 |
Segment core earnings/(losses) | 2,468 | 3,274 | 14,404 | 11,128 |
Total Assets | 6,648,693 | 5,779,300 | 6,648,693 | 5,779,300 |
Total on- and off-balance sheet program assets at principal balance | 7,118,295 | 6,296,263 | 7,118,295 | 6,296,263 |
Renewable Energy | Operating Segments |  |  |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |  |  |
Net interest income | 1,150 | 705 | 3,108 | 1,548 |
Less: reconciling adjustments | 0 | 0 | 0 | 0 |
Net effective spread | 1,150 | 705 | 3,108 | 1,548 |
Guarantee and commitment fees | 24 | 13 | 69 | 43 |
Other income/(expense) | 0 | 0 | 0 | 0 |
Total revenues | 1,174 | 718 | 3,177 | 1,591 |
Release of/(provision for) losses | (66) | 26 | (38) | (184) |
Release of/(provision for) reserve for losses | 0 | 0 | 0 | 0 |
Operating expenses | 0 | 0 | 0 | 0 |
Total non-interest expense | 0 | 0 | 0 | 0 |
Core earnings before income taxes | 1,108 | 744 | 3,139 | 1,407 |
Income tax (expense)/benefit | (233) | (156) | (659) | (295) |
Core earnings before preferred stock dividends | 875 | 588 | 2,480 | 1,112 |
Preferred stock dividends | 0 | 0 | 0 | 0 |
Segment core earnings/(losses) | 875 | 588 | 2,480 | 1,112 |
Total Assets | 320,572 | 186,832 | 320,572 | 186,832 |
Total on- and off-balance sheet program assets at principal balance | 330,575 | 196,242 | 330,575 | 196,242 |
Funding | Operating Segments |  |  |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |  |  |
Net interest income | 37,642 | 23,913 | 98,588 | 67,673 |
Less: reconciling adjustments | (3,230) | (1,349) | 60 | (9,863) |
Net effective spread | 34,412 | 22,564 | 98,648 | 57,810 |
Guarantee and commitment fees | 0 | 0 | 0 | 0 |
Other income/(expense) | 3 | 0 | 3 | 0 |
Total revenues | 34,415 | 22,564 | 98,651 | 57,810 |
Release of/(provision for) losses | 0 | 0 | 0 | 0 |
Release of/(provision for) reserve for losses | 0 | 0 | 0 | 0 |
Operating expenses | 0 | 0 | 0 | 0 |
Total non-interest expense | 0 | 0 | 0 | 0 |
Core earnings before income taxes | 34,415 | 22,564 | 98,651 | 57,810 |
Income tax (expense)/benefit | (7,226) | (4,739) | (20,716) | (12,141) |
Core earnings before preferred stock dividends | 27,189 | 17,825 | 77,935 | 45,669 |
Preferred stock dividends | 0 | 0 | 0 | 0 |
Segment core earnings/(losses) | 27,189 | 17,825 | 77,935 | 45,669 |
Total Assets | 0 | 0 | 0 | 0 |
Total on- and off-balance sheet program assets at principal balance | 0 | 0 | 0 | 0 |
Investments | Operating Segments |  |  |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |  |  |
Net interest income | 473 | (2,791) | 397 | (4,069) |
Less: reconciling adjustments | 59 | 0 | 186 | 0 |
Net effective spread | 532 | (2,791) | 583 | (4,069) |
Guarantee and commitment fees | 0 | 0 | 0 | 0 |
Other income/(expense) | 6 | 0 | 17 | 0 |
Total revenues | 538 | (2,791) | 600 | (4,069) |
Release of/(provision for) losses | (1) | 11 | 4 | 14 |
Release of/(provision for) reserve for losses | 0 | 0 | 0 | 0 |
Operating expenses | 0 | 0 | 0 | 0 |
Total non-interest expense | 0 | 0 | 0 | 0 |
Core earnings before income taxes | 537 | (2,780) | 604 | (4,055) |
Income tax (expense)/benefit | (113) | 584 | (127) | 852 |
Core earnings before preferred stock dividends | 424 | (2,196) | 477 | (3,203) |
Preferred stock dividends | 0 | 0 | 0 | 0 |
Segment core earnings/(losses) | 424 | (2,196) | 477 | (3,203) |
Total Assets | 4,866,969 | 4,608,868 | 4,866,969 | 4,608,868 |
Total on- and off-balance sheet program assets at principal balance | 0 | 0 | 0 | 0 |
Corporate | Operating Segments |  |  |  |  |
Segment Reporting Information, Profit (Loss) [Abstract] |  |  |  |  |
Net interest income | 0 | 0 | 0 | 0 |
Less: reconciling adjustments | 0 | 0 | 0 | 0 |
Net effective spread | 0 | 0 | 0 | 0 |
Guarantee and commitment fees | 0 | 0 | 0 | 0 |
Other income/(expense) | 240 | 0 | 284 | 3 |
Total revenues | 240 | 0 | 284 | 3 |
Release of/(provision for) losses | 0 | 0 | 0 | 0 |
Release of/(provision for) reserve for losses | 0 | 0 | 0 | 0 |
Operating expenses | (24,034) | (19,379) | (71,935) | (60,815) |
Total non-interest expense | (24,034) | (19,379) | (71,935) | (60,815) |
Core earnings before income taxes | (23,794) | (19,379) | (71,651) | (60,812) |
Income tax (expense)/benefit | 5,267 | 4,366 | 15,206 | 12,827 |
Core earnings before preferred stock dividends | (18,527) | (15,013) | (56,445) | (47,985) |
Preferred stock dividends | (6,792) | (6,791) | (20,374) | (20,374) |
Segment core earnings/(losses) | (25,319) | (21,804) | (76,819) | (68,359) |
Total Assets | 195,112 | 194,763 | 195,112 | 194,763 |
Total on- and off-balance sheet program assets at principal balance | $ 0 | $ 0 | $ 0 | $ 0 |

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