Company Quick10K Filing
Federal Agricultural Mortgage
Price82.12 EPS9
Shares11 P/E9
MCap885 P/FCF-6
Net Debt8,353 EBIT589
TEV9,238 TEV/EBIT16
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-03-31 Filed 2020-05-11
10-K 2019-12-31 Filed 2020-02-25
10-Q 2019-09-30 Filed 2019-11-06
10-Q 2019-06-30 Filed 2019-08-01
10-Q 2019-03-31 Filed 2019-05-02
10-K 2018-12-31 Filed 2019-02-21
10-Q 2018-09-30 Filed 2018-11-08
10-Q 2018-06-30 Filed 2018-08-09
10-Q 2018-03-31 Filed 2018-05-10
10-K 2017-12-31 Filed 2018-03-08
10-Q 2017-09-30 Filed 2017-11-09
10-Q 2017-06-30 Filed 2017-08-09
10-Q 2017-03-31 Filed 2017-05-10
10-K 2016-12-31 Filed 2017-03-09
10-Q 2016-09-30 Filed 2016-11-09
10-Q 2016-06-30 Filed 2016-08-09
10-Q 2016-03-31 Filed 2016-05-10
10-K 2015-12-31 Filed 2016-03-10
10-Q 2015-09-30 Filed 2015-11-09
10-Q 2015-06-30 Filed 2015-08-10
10-Q 2015-03-31 Filed 2015-05-11
10-K 2014-12-31 Filed 2015-03-16
10-Q 2014-09-30 Filed 2014-11-10
10-Q 2014-06-30 Filed 2014-08-11
10-Q 2014-03-31 Filed 2014-05-12
10-K 2013-12-31 Filed 2014-03-13
10-Q 2013-06-30 Filed 2013-08-08
10-Q 2013-03-31 Filed 2013-05-09
10-K 2012-12-31 Filed 2013-03-18
10-Q 2012-09-30 Filed 2012-11-08
10-Q 2012-06-30 Filed 2012-08-09
10-Q 2012-03-31 Filed 2012-05-10
10-K 2011-12-31 Filed 2012-03-15
10-Q 2011-09-30 Filed 2011-11-09
10-Q 2011-06-30 Filed 2011-08-09
10-Q 2011-03-31 Filed 2011-05-10
10-K 2010-12-31 Filed 2011-03-16
10-Q 2010-09-30 Filed 2010-11-09
10-Q 2010-06-30 Filed 2010-08-09
10-Q 2010-03-31 Filed 2010-05-10
10-K 2009-12-31 Filed 2010-03-16
8-K 2020-05-27
8-K 2020-05-20
8-K 2020-05-13
8-K 2020-05-12
8-K 2020-05-11
8-K 2020-05-06
8-K 2020-04-30
8-K 2020-04-06
8-K 2020-03-26
8-K 2020-03-03
8-K 2020-02-25
8-K 2020-02-18
8-K 2020-02-10
8-K 2020-02-03
8-K 2020-01-22
8-K 2020-01-16
8-K 2019-12-20
8-K 2019-12-13
8-K 2019-12-05
8-K 2019-11-14
8-K 2019-11-13
8-K 2019-11-06
8-K 2019-11-04
8-K 2019-10-30
8-K 2019-10-04
8-K 2019-09-18
8-K 2019-08-07
8-K 2019-08-01
8-K 2019-07-25
8-K 2019-07-08
8-K 2019-05-17
8-K 2019-05-09
8-K 2019-05-09
8-K 2019-05-08
8-K 2019-05-02
8-K 2019-04-25
8-K 2019-03-14
8-K 2019-02-27
8-K 2019-02-21
8-K 2019-02-14
8-K 2019-02-13
8-K 2018-11-08
8-K 2018-10-31
8-K 2018-10-31
8-K 2018-09-26
8-K 2018-08-09
8-K 2018-07-30
8-K 2018-07-23
8-K 2018-05-10
8-K 2018-05-02
8-K 2018-05-02
8-K 2018-03-13
8-K 2018-03-08
8-K 2018-02-26

AGM 10Q Quarterly Report

Part I
Item 1.Financial Statements
Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3.Quantitative and Qualitative Disclosures About Market Risk
Item 4.Controls and Procedures
Part II
Item 1.Legal Proceedings
Item 1A.Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3.Defaults Upon Senior Securities
Item 4.Mine Safety Disclosures
Item 5.Other Information
Item 6.Exhibits
EX-31.1 ex311agm-03312020.htm
EX-31.2 ex312agm-03312020.htm
EX-32 ex32agm-03312020.htm

Federal Agricultural Mortgage Earnings 2020-03-31

Balance SheetIncome StatementCash Flow

agm-20200331
truefalse00008458772020Q1false--12-3100008458772020-01-012020-03-310000845877us-gaap:CommonClassAMember2020-01-012020-03-310000845877us-gaap:CommonClassCMember2020-01-012020-03-310000845877us-gaap:SeriesAPreferredStockMember2020-01-012020-03-310000845877us-gaap:SeriesCPreferredStockMember2020-01-012020-03-310000845877us-gaap:SeriesDPreferredStockMember2020-01-012020-03-31xbrli:shares0000845877us-gaap:CommonClassAMember2020-04-300000845877us-gaap:CommonClassBMember2020-04-300000845877us-gaap:CommonClassCMember2020-04-30iso4217:USD00008458772020-03-3100008458772019-12-310000845877us-gaap:AvailableforsaleSecuritiesMember2020-03-310000845877us-gaap:AvailableforsaleSecuritiesMember2019-12-310000845877us-gaap:DebtSecuritiesMember2020-03-310000845877us-gaap:DebtSecuritiesMember2019-12-310000845877us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2020-03-310000845877us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2019-12-310000845877us-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-03-310000845877us-gaap:USGovernmentAgenciesDebtSecuritiesMember2019-12-310000845877us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2020-03-310000845877us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2019-12-31iso4217:USDxbrli:shares0000845877us-gaap:SeriesAPreferredStockMember2020-03-310000845877us-gaap:SeriesAPreferredStockMember2019-12-310000845877us-gaap:SeriesCPreferredStockMember2019-12-310000845877us-gaap:SeriesCPreferredStockMember2020-03-310000845877us-gaap:SeriesDPreferredStockMember2020-03-310000845877us-gaap:SeriesDPreferredStockMember2019-12-310000845877us-gaap:CommonClassAMember2020-03-310000845877us-gaap:CommonClassAMember2019-12-310000845877us-gaap:CommonClassBMember2019-12-310000845877us-gaap:CommonClassBMember2020-03-310000845877us-gaap:CommonClassCMember2020-03-310000845877us-gaap:CommonClassCMember2019-12-3100008458772019-01-012019-03-310000845877us-gaap:PreferredStockMember2018-12-310000845877us-gaap:CommonStockMember2018-12-310000845877us-gaap:AdditionalPaidInCapitalMember2018-12-310000845877us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2018-12-310000845877us-gaap:RetainedEarningsMember2018-12-3100008458772018-12-310000845877us-gaap:RetainedEarningsMember2019-01-012019-03-310000845877us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2019-01-012019-03-310000845877us-gaap:CommonStockMemberus-gaap:CommonClassCMember2019-01-012019-03-310000845877us-gaap:CommonStockMember2019-01-012019-03-310000845877us-gaap:AdditionalPaidInCapitalMember2019-01-012019-03-310000845877us-gaap:CommonClassCMember2019-01-012019-03-310000845877us-gaap:PreferredStockMember2019-03-310000845877us-gaap:CommonStockMember2019-03-310000845877us-gaap:AdditionalPaidInCapitalMember2019-03-310000845877us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2019-03-310000845877us-gaap:RetainedEarningsMember2019-03-3100008458772019-03-310000845877us-gaap:PreferredStockMember2019-12-310000845877us-gaap:CommonStockMember2019-12-310000845877us-gaap:AdditionalPaidInCapitalMember2019-12-310000845877us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2019-12-310000845877us-gaap:RetainedEarningsMember2020-01-0100008458772020-01-010000845877us-gaap:PreferredStockMember2020-01-010000845877us-gaap:CommonStockMember2020-01-010000845877us-gaap:AdditionalPaidInCapitalMember2020-01-010000845877us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2020-01-010000845877us-gaap:RetainedEarningsMember2020-01-012020-03-310000845877us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2020-01-012020-03-310000845877us-gaap:CommonStockMemberus-gaap:CommonClassCMember2020-01-012020-03-310000845877us-gaap:AdditionalPaidInCapitalMemberus-gaap:CommonClassCMember2020-01-012020-03-310000845877us-gaap:RetainedEarningsMemberus-gaap:CommonClassCMember2020-01-012020-03-310000845877us-gaap:AdditionalPaidInCapitalMember2020-01-012020-03-310000845877us-gaap:PreferredStockMember2020-03-310000845877us-gaap:CommonStockMember2020-03-310000845877us-gaap:AdditionalPaidInCapitalMember2020-03-310000845877us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2020-03-310000845877us-gaap:RetainedEarningsMember2020-03-310000845877us-gaap:DebtSecuritiesMember2020-01-012020-03-310000845877us-gaap:DebtSecuritiesMember2019-01-012019-03-310000845877agm:FarmerMacAndUsdaGuaranteedSecuritiesMember2020-01-012020-03-310000845877agm:FarmerMacAndUsdaGuaranteedSecuritiesMember2019-01-012019-03-310000845877us-gaap:NotesPayableToBanksMember2020-01-012020-03-310000845877us-gaap:NotesPayableToBanksMember2019-01-012019-03-310000845877us-gaap:MediumTermNotesMember2020-01-012020-03-310000845877us-gaap:MediumTermNotesMember2019-01-012019-03-31agm:subsidiary0000845877us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberagm:OnBalanceSheetMemberagm:FarmRanchMemberus-gaap:OperatingSegmentsMember2020-03-310000845877us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberagm:USDAGuaranteesMemberagm:OnBalanceSheetMemberus-gaap:OperatingSegmentsMember2020-03-310000845877us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberagm:OnBalanceSheetMemberus-gaap:CorporateNonSegmentMember2020-03-310000845877us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberagm:OnBalanceSheetMember2020-03-310000845877us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberagm:OnBalanceSheetMemberagm:FarmRanchMemberus-gaap:OperatingSegmentsMember2020-03-310000845877agm:USDAGuaranteesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberagm:OnBalanceSheetMemberus-gaap:OperatingSegmentsMember2020-03-310000845877us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberagm:OnBalanceSheetMemberus-gaap:CorporateNonSegmentMember2020-03-310000845877us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberagm:OnBalanceSheetMember2020-03-310000845877us-gaap:DebtSecuritiesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:OnBalanceSheetMemberagm:FarmRanchMemberus-gaap:OperatingSegmentsMember2020-03-310000845877us-gaap:DebtSecuritiesMemberagm:USDAGuaranteesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:OnBalanceSheetMemberus-gaap:OperatingSegmentsMember2020-03-310000845877us-gaap:DebtSecuritiesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:OnBalanceSheetMemberus-gaap:CorporateNonSegmentMember2020-03-310000845877us-gaap:DebtSecuritiesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:OnBalanceSheetMember2020-03-310000845877us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:OffBalanceSheetMemberagm:FarmRanchMemberus-gaap:OperatingSegmentsMember2020-03-310000845877agm:USDAGuaranteesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:OffBalanceSheetMemberus-gaap:OperatingSegmentsMember2020-03-310000845877us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:OffBalanceSheetMemberus-gaap:CorporateNonSegmentMember2020-03-310000845877us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:OffBalanceSheetMember2020-03-310000845877agm:FarmRanchMember2020-03-310000845877agm:USDAGuaranteesMember2020-03-310000845877us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberagm:OnBalanceSheetMemberagm:FarmRanchMemberus-gaap:OperatingSegmentsMember2019-12-310000845877us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberagm:USDAGuaranteesMemberagm:OnBalanceSheetMemberus-gaap:OperatingSegmentsMember2019-12-310000845877us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberagm:OnBalanceSheetMemberus-gaap:CorporateNonSegmentMember2019-12-310000845877us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberagm:OnBalanceSheetMember2019-12-310000845877us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberagm:OnBalanceSheetMemberagm:FarmRanchMemberus-gaap:OperatingSegmentsMember2019-12-310000845877agm:USDAGuaranteesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberagm:OnBalanceSheetMemberus-gaap:OperatingSegmentsMember2019-12-310000845877us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberagm:OnBalanceSheetMemberus-gaap:CorporateNonSegmentMember2019-12-310000845877us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberagm:OnBalanceSheetMember2019-12-310000845877us-gaap:DebtSecuritiesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:OnBalanceSheetMemberagm:FarmRanchMemberus-gaap:OperatingSegmentsMember2019-12-310000845877us-gaap:DebtSecuritiesMemberagm:USDAGuaranteesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:OnBalanceSheetMemberus-gaap:OperatingSegmentsMember2019-12-310000845877us-gaap:DebtSecuritiesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:OnBalanceSheetMemberus-gaap:CorporateNonSegmentMember2019-12-310000845877us-gaap:DebtSecuritiesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:OnBalanceSheetMember2019-12-310000845877us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:OffBalanceSheetMemberagm:FarmRanchMemberus-gaap:OperatingSegmentsMember2019-12-310000845877agm:USDAGuaranteesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:OffBalanceSheetMemberus-gaap:OperatingSegmentsMember2019-12-310000845877us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:OffBalanceSheetMemberus-gaap:CorporateNonSegmentMember2019-12-310000845877us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:OffBalanceSheetMember2019-12-310000845877agm:FarmRanchMember2019-12-310000845877agm:USDAGuaranteesMember2019-12-310000845877agm:StockAppreciationRightsAndRestrictedStockMember2020-01-012020-03-310000845877agm:StockAppreciationRightsAndRestrictedStockMember2019-01-012019-03-310000845877us-gaap:PerformanceSharesMember2020-01-012020-03-310000845877us-gaap:PerformanceSharesMember2019-01-012019-03-310000845877us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMemberus-gaap:AvailableforsaleSecuritiesMember2019-12-310000845877us-gaap:HeldtomaturitySecuritiesMemberus-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2019-12-310000845877us-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember2019-12-310000845877us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMemberus-gaap:AvailableforsaleSecuritiesMember2018-12-310000845877us-gaap:HeldtomaturitySecuritiesMemberus-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2018-12-310000845877us-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember2018-12-310000845877us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMemberus-gaap:AvailableforsaleSecuritiesMember2020-01-012020-03-310000845877us-gaap:HeldtomaturitySecuritiesMemberus-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2020-01-012020-03-310000845877us-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember2020-01-012020-03-310000845877us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMemberus-gaap:AvailableforsaleSecuritiesMember2019-01-012019-03-310000845877us-gaap:HeldtomaturitySecuritiesMemberus-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2019-01-012019-03-310000845877us-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember2019-01-012019-03-310000845877us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMemberus-gaap:AvailableforsaleSecuritiesMember2020-03-310000845877us-gaap:HeldtomaturitySecuritiesMemberus-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2020-03-310000845877us-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember2020-03-310000845877us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMemberus-gaap:AvailableforsaleSecuritiesMember2019-03-310000845877us-gaap:HeldtomaturitySecuritiesMemberus-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2019-03-310000845877us-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember2019-03-310000845877us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMemberus-gaap:InterestIncomeMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AvailableforsaleSecuritiesMember2020-01-012020-03-310000845877us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMemberus-gaap:InterestIncomeMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AvailableforsaleSecuritiesMember2019-01-012019-03-310000845877us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMemberus-gaap:OtherIncomeMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AvailableforsaleSecuritiesMember2020-01-012020-03-310000845877us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMemberus-gaap:OtherIncomeMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AvailableforsaleSecuritiesMember2019-01-012019-03-310000845877us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMemberus-gaap:InterestIncomeMemberus-gaap:HeldtomaturitySecuritiesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-01-012020-03-310000845877us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMemberus-gaap:InterestIncomeMemberus-gaap:HeldtomaturitySecuritiesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2019-01-012019-03-310000845877us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:InterestExpenseMemberus-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember2020-01-012020-03-310000845877us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:InterestExpenseMemberus-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember2019-01-012019-03-310000845877agm:CumulativeEffectPeriodOfAdoptionAdjustmentMemberagm:FarmRanchMember2020-01-010000845877agm:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberagm:FarmRanchMember2020-01-010000845877agm:RuralUtilitiesMember2019-12-310000845877agm:CumulativeEffectPeriodOfAdoptionAdjustmentMemberagm:RuralUtilitiesMember2020-01-010000845877agm:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberagm:RuralUtilitiesMember2020-01-010000845877agm:InstitutionalCreditMemberMember2019-12-310000845877agm:CumulativeEffectPeriodOfAdoptionAdjustmentMemberagm:InstitutionalCreditMemberMember2020-01-010000845877agm:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberagm:InstitutionalCreditMemberMember2020-01-010000845877agm:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-01-010000845877agm:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-01-010000845877us-gaap:AuctionRateSecuritiesMemberagm:FloatingInterestRateMember2020-03-310000845877us-gaap:AuctionRateSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMemberagm:FloatingInterestRateMember2020-03-310000845877us-gaap:AssetBackedSecuritiesMemberagm:FloatingInterestRateMember2020-03-310000845877us-gaap:AssetBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMemberagm:FloatingInterestRateMember2020-03-310000845877us-gaap:MortgageBackedSecuritiesMemberagm:FloatingInterestRateMember2020-03-310000845877us-gaap:AvailableforsaleSecuritiesMemberagm:FloatingInterestRateMemberus-gaap:MortgageBackedSecuritiesMember2020-03-310000845877agm:FixedInterestRateMemberus-gaap:MortgageBackedSecuritiesMember2020-03-310000845877agm:FixedInterestRateMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:MortgageBackedSecuritiesMember2020-03-310000845877us-gaap:USTreasurySecuritiesMemberagm:FixedInterestRateMember2020-03-310000845877us-gaap:USTreasurySecuritiesMemberagm:FixedInterestRateMemberus-gaap:AvailableforsaleSecuritiesMember2020-03-310000845877us-gaap:DebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2020-03-310000845877us-gaap:HeldtomaturitySecuritiesMemberagm:FixedInterestRateMemberus-gaap:MortgageBackedSecuritiesMember2020-03-31xbrli:pure0000845877us-gaap:AuctionRateSecuritiesMemberagm:FloatingInterestRateMember2019-12-310000845877us-gaap:AuctionRateSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMemberagm:FloatingInterestRateMember2019-12-310000845877us-gaap:AssetBackedSecuritiesMemberagm:FloatingInterestRateMember2019-12-310000845877us-gaap:AssetBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMemberagm:FloatingInterestRateMember2019-12-310000845877us-gaap:MortgageBackedSecuritiesMemberagm:FloatingInterestRateMember2019-12-310000845877us-gaap:AvailableforsaleSecuritiesMemberagm:FloatingInterestRateMemberus-gaap:MortgageBackedSecuritiesMember2019-12-310000845877agm:FixedInterestRateMemberus-gaap:MortgageBackedSecuritiesMember2019-12-310000845877agm:FixedInterestRateMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:MortgageBackedSecuritiesMember2019-12-310000845877us-gaap:USTreasurySecuritiesMemberagm:FixedInterestRateMember2019-12-310000845877us-gaap:USTreasurySecuritiesMemberagm:FixedInterestRateMemberus-gaap:AvailableforsaleSecuritiesMember2019-12-310000845877us-gaap:DebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-12-310000845877us-gaap:HeldtomaturitySecuritiesMemberagm:FixedInterestRateMemberus-gaap:MortgageBackedSecuritiesMember2019-12-31agm:security0000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberagm:InstitutionalCreditMemberMember2020-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:HeldtomaturitySecuritiesMemberagm:InstitutionalCreditMemberMember2020-03-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2020-03-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:HeldtomaturitySecuritiesMember2020-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2020-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:HeldtomaturitySecuritiesMember2020-03-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-03-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:HeldtomaturitySecuritiesMember2020-03-310000845877us-gaap:USTreasuryAndGovernmentMember2020-03-310000845877us-gaap:USTreasuryAndGovernmentMemberus-gaap:HeldtomaturitySecuritiesMember2020-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberagm:InstitutionalCreditMemberMemberus-gaap:AvailableforsaleSecuritiesMember2020-03-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberagm:DebtSecuritiesTradingMember2020-03-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-03-312020-03-310000845877agm:InstitutionalCreditMemberMember2020-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberagm:InstitutionalCreditMemberMember2019-12-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:HeldtomaturitySecuritiesMemberagm:InstitutionalCreditMemberMember2019-12-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2019-12-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:HeldtomaturitySecuritiesMember2019-12-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2019-12-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:HeldtomaturitySecuritiesMember2019-12-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2019-12-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:HeldtomaturitySecuritiesMember2019-12-310000845877us-gaap:USTreasuryAndGovernmentMember2019-12-310000845877us-gaap:USTreasuryAndGovernmentMemberus-gaap:HeldtomaturitySecuritiesMember2019-12-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberagm:InstitutionalCreditMemberMemberus-gaap:AvailableforsaleSecuritiesMember2019-12-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberagm:DebtSecuritiesTradingMember2019-12-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2018-12-312018-12-310000845877agm:InterestRateSwapPayFixedNonCallableMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-03-310000845877agm:InterestRateSwapPayFixedNonCallableMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-01-012020-03-310000845877agm:InterestRateSwapReceiveFixedNonCallableMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-03-310000845877agm:InterestRateSwapReceiveFixedNonCallableMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-01-012020-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberagm:InterestRateSwapReceiveFixedCallableMember2020-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberagm:InterestRateSwapReceiveFixedCallableMember2020-01-012020-03-310000845877agm:InterestRateSwapPayFixedNonCallableMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-03-310000845877agm:InterestRateSwapPayFixedNonCallableMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-01-012020-03-310000845877agm:InterestRateSwapPayFixedNonCallableMemberus-gaap:NondesignatedMember2020-03-310000845877agm:InterestRateSwapPayFixedNonCallableMemberus-gaap:NondesignatedMember2020-01-012020-03-310000845877agm:InterestRateSwapReceiveFixedNonCallableMemberus-gaap:NondesignatedMember2020-03-310000845877agm:InterestRateSwapReceiveFixedNonCallableMemberus-gaap:NondesignatedMember2020-01-012020-03-310000845877us-gaap:NondesignatedMemberagm:InterestRateSwapReceiveFixedCallableMember2020-03-310000845877us-gaap:NondesignatedMemberagm:InterestRateSwapReceiveFixedCallableMember2020-01-012020-03-310000845877us-gaap:NondesignatedMemberus-gaap:BasisSwapMember2020-03-310000845877us-gaap:NondesignatedMemberus-gaap:BasisSwapMember2020-01-012020-03-310000845877us-gaap:NondesignatedMemberus-gaap:FutureMember2020-03-310000845877us-gaap:NondesignatedMemberus-gaap:FutureMember2020-01-012020-03-310000845877us-gaap:NondesignatedMember2020-03-310000845877agm:InterestRateSwapPayFixedNonCallableMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-12-310000845877agm:InterestRateSwapPayFixedNonCallableMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-01-012019-12-310000845877agm:InterestRateSwapReceiveFixedNonCallableMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-12-310000845877agm:InterestRateSwapReceiveFixedNonCallableMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-01-012019-12-310000845877us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberagm:InterestRateSwapReceiveFixedCallableMember2019-12-310000845877us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberagm:InterestRateSwapReceiveFixedCallableMember2019-01-012019-12-310000845877agm:InterestRateSwapPayFixedNonCallableMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-12-310000845877agm:InterestRateSwapPayFixedNonCallableMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-01-012019-12-310000845877agm:InterestRateSwapPayFixedNonCallableMemberus-gaap:NondesignatedMember2019-12-310000845877agm:InterestRateSwapPayFixedNonCallableMemberus-gaap:NondesignatedMember2019-01-012019-12-310000845877agm:InterestRateSwapReceiveFixedNonCallableMemberus-gaap:NondesignatedMember2019-12-310000845877agm:InterestRateSwapReceiveFixedNonCallableMemberus-gaap:NondesignatedMember2019-01-012019-12-310000845877us-gaap:NondesignatedMemberagm:InterestRateSwapReceiveFixedCallableMember2019-12-310000845877us-gaap:NondesignatedMemberagm:InterestRateSwapReceiveFixedCallableMember2019-01-012019-12-310000845877us-gaap:NondesignatedMemberus-gaap:BasisSwapMember2019-12-310000845877us-gaap:NondesignatedMemberus-gaap:BasisSwapMember2019-01-012019-12-310000845877us-gaap:NondesignatedMemberus-gaap:FutureMember2019-12-310000845877us-gaap:NondesignatedMemberus-gaap:FutureMember2019-01-012019-12-310000845877us-gaap:NondesignatedMember2019-12-310000845877us-gaap:InterestIncomeMemberus-gaap:FairValueHedgingMemberus-gaap:InterestRateSwapMember2020-01-012020-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:InterestRateSwapMemberus-gaap:LoansAndFinanceReceivablesMember2020-01-012020-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:InterestExpenseMemberus-gaap:InterestRateSwapMember2020-01-012020-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:GainLossOnDerivativeInstrumentsMemberus-gaap:InterestRateSwapMember2020-01-012020-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:InterestRateSwapMember2020-01-012020-03-310000845877us-gaap:InterestIncomeMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-01-012020-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:LoansAndFinanceReceivablesMember2020-01-012020-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:InterestExpenseMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-01-012020-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:GainLossOnDerivativeInstrumentsMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-01-012020-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-01-012020-03-310000845877us-gaap:InterestIncomeMemberus-gaap:FairValueHedgingMember2020-01-012020-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2020-01-012020-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:InterestExpenseMember2020-01-012020-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:GainLossOnDerivativeInstrumentsMember2020-01-012020-03-310000845877us-gaap:FairValueHedgingMember2020-01-012020-03-310000845877us-gaap:InterestIncomeMemberus-gaap:CashFlowHedgingMember2020-01-012020-03-310000845877us-gaap:CashFlowHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2020-01-012020-03-310000845877us-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2020-01-012020-03-310000845877us-gaap:GainLossOnDerivativeInstrumentsMemberus-gaap:CashFlowHedgingMember2020-01-012020-03-310000845877us-gaap:CashFlowHedgingMember2020-01-012020-03-310000845877us-gaap:InterestIncomeMemberus-gaap:NondesignatedMemberus-gaap:InterestRateSwapMember2020-01-012020-03-310000845877us-gaap:NondesignatedMemberus-gaap:InterestRateSwapMemberus-gaap:LoansAndFinanceReceivablesMember2020-01-012020-03-310000845877us-gaap:NondesignatedMemberus-gaap:InterestExpenseMemberus-gaap:InterestRateSwapMember2020-01-012020-03-310000845877us-gaap:NondesignatedMemberus-gaap:GainLossOnDerivativeInstrumentsMemberus-gaap:InterestRateSwapMember2020-01-012020-03-310000845877us-gaap:NondesignatedMemberus-gaap:InterestRateSwapMember2020-01-012020-03-310000845877us-gaap:InterestIncomeMemberus-gaap:NondesignatedMemberus-gaap:FutureMember2020-01-012020-03-310000845877us-gaap:NondesignatedMemberus-gaap:FutureMemberus-gaap:LoansAndFinanceReceivablesMember2020-01-012020-03-310000845877us-gaap:NondesignatedMemberus-gaap:FutureMemberus-gaap:InterestExpenseMember2020-01-012020-03-310000845877us-gaap:NondesignatedMemberus-gaap:FutureMemberus-gaap:GainLossOnDerivativeInstrumentsMember2020-01-012020-03-310000845877us-gaap:InterestIncomeMemberus-gaap:NondesignatedMember2020-01-012020-03-310000845877us-gaap:NondesignatedMemberus-gaap:LoansAndFinanceReceivablesMember2020-01-012020-03-310000845877us-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2020-01-012020-03-310000845877us-gaap:NondesignatedMemberus-gaap:GainLossOnDerivativeInstrumentsMember2020-01-012020-03-310000845877us-gaap:NondesignatedMember2020-01-012020-03-310000845877us-gaap:InterestIncomeMemberus-gaap:FairValueHedgingMemberus-gaap:InterestRateSwapMember2019-01-012019-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:InterestRateSwapMemberus-gaap:LoansAndFinanceReceivablesMember2019-01-012019-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:InterestExpenseMemberus-gaap:InterestRateSwapMember2019-01-012019-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:GainLossOnDerivativeInstrumentsMemberus-gaap:InterestRateSwapMember2019-01-012019-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:InterestRateSwapMember2019-01-012019-03-310000845877us-gaap:InterestIncomeMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-01-012019-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:LoansAndFinanceReceivablesMember2019-01-012019-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:InterestExpenseMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-01-012019-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:GainLossOnDerivativeInstrumentsMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-01-012019-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-01-012019-03-310000845877us-gaap:InterestIncomeMemberus-gaap:FairValueHedgingMember2019-01-012019-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2019-01-012019-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:InterestExpenseMember2019-01-012019-03-310000845877us-gaap:FairValueHedgingMemberus-gaap:GainLossOnDerivativeInstrumentsMember2019-01-012019-03-310000845877us-gaap:FairValueHedgingMember2019-01-012019-03-310000845877us-gaap:InterestIncomeMemberus-gaap:CashFlowHedgingMember2019-01-012019-03-310000845877us-gaap:CashFlowHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2019-01-012019-03-310000845877us-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2019-01-012019-03-310000845877us-gaap:GainLossOnDerivativeInstrumentsMemberus-gaap:CashFlowHedgingMember2019-01-012019-03-310000845877us-gaap:CashFlowHedgingMember2019-01-012019-03-310000845877us-gaap:InterestIncomeMemberus-gaap:NondesignatedMemberus-gaap:InterestRateSwapMember2019-01-012019-03-310000845877us-gaap:NondesignatedMemberus-gaap:InterestRateSwapMemberus-gaap:LoansAndFinanceReceivablesMember2019-01-012019-03-310000845877us-gaap:NondesignatedMemberus-gaap:InterestExpenseMemberus-gaap:InterestRateSwapMember2019-01-012019-03-310000845877us-gaap:NondesignatedMemberus-gaap:GainLossOnDerivativeInstrumentsMemberus-gaap:InterestRateSwapMember2019-01-012019-03-310000845877us-gaap:NondesignatedMemberus-gaap:InterestRateSwapMember2019-01-012019-03-310000845877us-gaap:InterestIncomeMemberus-gaap:NondesignatedMemberus-gaap:FutureMember2019-01-012019-03-310000845877us-gaap:NondesignatedMemberus-gaap:FutureMemberus-gaap:LoansAndFinanceReceivablesMember2019-01-012019-03-310000845877us-gaap:NondesignatedMemberus-gaap:FutureMemberus-gaap:InterestExpenseMember2019-01-012019-03-310000845877us-gaap:NondesignatedMemberus-gaap:FutureMemberus-gaap:GainLossOnDerivativeInstrumentsMember2019-01-012019-03-310000845877us-gaap:NondesignatedMemberus-gaap:FutureMember2019-01-012019-03-310000845877us-gaap:InterestIncomeMemberus-gaap:NondesignatedMember2019-01-012019-03-310000845877us-gaap:NondesignatedMemberus-gaap:LoansAndFinanceReceivablesMember2019-01-012019-03-310000845877us-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2019-01-012019-03-310000845877us-gaap:NondesignatedMemberus-gaap:GainLossOnDerivativeInstrumentsMember2019-01-012019-03-310000845877us-gaap:NondesignatedMember2019-01-012019-03-310000845877us-gaap:LoansMember2020-03-310000845877us-gaap:LoansMember2019-12-310000845877us-gaap:LongTermDebtMember2020-03-310000845877us-gaap:LongTermDebtMember2019-12-310000845877agm:IncludingAccruedInterestMemberagm:ExcludingNettingMember2020-03-310000845877agm:IncludingAccruedInterestMemberagm:CounterpartyNettingMember2020-03-310000845877agm:IncludingAccruedInterestMemberagm:NettingMember2020-03-310000845877agm:IncludingAccruedInterestMemberagm:ExcludingNettingMember2019-12-310000845877agm:IncludingAccruedInterestMemberagm:CounterpartyNettingMember2019-12-310000845877agm:IncludingAccruedInterestMemberagm:NettingMember2019-12-310000845877us-gaap:CashMember2020-03-310000845877us-gaap:CashMember2019-12-310000845877us-gaap:InterestRateSwapMember2020-03-310000845877us-gaap:ExchangeClearedMember2020-03-310000845877us-gaap:InterestRateSwapMember2019-12-310000845877us-gaap:ExchangeClearedMember2019-12-310000845877agm:UnsecuritizedMemberagm:FarmRanchMember2020-03-310000845877agm:InConsolidatedTrustsMemberagm:FarmRanchMember2020-03-310000845877agm:FarmRanchMemberus-gaap:RealEstateLoanMember2020-03-310000845877agm:UnsecuritizedMemberagm:FarmRanchMember2019-12-310000845877agm:InConsolidatedTrustsMemberagm:FarmRanchMember2019-12-310000845877agm:FarmRanchMemberus-gaap:RealEstateLoanMember2019-12-310000845877agm:UnsecuritizedMemberagm:RuralUtilitiesMember2020-03-310000845877agm:InConsolidatedTrustsMemberagm:RuralUtilitiesMember2020-03-310000845877us-gaap:RealEstateLoanMemberagm:RuralUtilitiesMember2020-03-310000845877agm:UnsecuritizedMemberagm:RuralUtilitiesMember2019-12-310000845877agm:InConsolidatedTrustsMemberagm:RuralUtilitiesMember2019-12-310000845877us-gaap:RealEstateLoanMemberagm:RuralUtilitiesMember2019-12-310000845877agm:UnsecuritizedMember2020-03-310000845877agm:InConsolidatedTrustsMember2020-03-310000845877us-gaap:RealEstateLoanMember2020-03-310000845877agm:UnsecuritizedMember2019-12-310000845877agm:InConsolidatedTrustsMember2019-12-310000845877us-gaap:RealEstateLoanMember2019-12-310000845877agm:RuralUtilitiesMember2020-03-310000845877agm:FarmRanchMember2018-12-310000845877agm:CumulativeEffectPeriodOfAdoptionAdjustmentMemberagm:FarmRanchMember2019-01-010000845877agm:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberagm:FarmRanchMember2019-01-010000845877agm:FarmRanchMember2020-01-012020-03-310000845877agm:FarmRanchMember2019-01-012019-03-310000845877agm:FarmRanchMember2019-03-310000845877agm:RuralUtilitiesMember2018-12-310000845877agm:CumulativeEffectPeriodOfAdoptionAdjustmentMemberagm:RuralUtilitiesMember2019-01-010000845877agm:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberagm:RuralUtilitiesMember2019-01-010000845877agm:RuralUtilitiesMember2020-01-012020-03-310000845877agm:RuralUtilitiesMember2019-01-012019-03-310000845877agm:RuralUtilitiesMember2019-03-310000845877us-gaap:CommercialRealEstateMemberagm:FarmRanchMember2020-01-012020-03-310000845877us-gaap:CollateralPledgedMemberagm:RuralUtilitiesMember2020-01-012020-03-310000845877agm:FarmRanchMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-03-310000845877agm:FarmRanchMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-03-310000845877us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberagm:FarmRanchMember2020-03-310000845877us-gaap:FinancingReceivables30To59DaysPastDueMemberagm:RuralUtilitiesMember2020-03-310000845877us-gaap:FinancingReceivables60To89DaysPastDueMemberagm:RuralUtilitiesMember2020-03-310000845877us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberagm:RuralUtilitiesMember2020-03-310000845877us-gaap:FinancingReceivables30To59DaysPastDueMember2020-03-310000845877us-gaap:FinancingReceivables60To89DaysPastDueMember2020-03-310000845877us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-03-310000845877agm:CropsMemberagm:OnBalanceSheetMember2019-12-310000845877agm:OnBalanceSheetMemberagm:PermanentPlantingsMember2019-12-310000845877agm:OnBalanceSheetMemberagm:LivestockMember2019-12-310000845877agm:OnBalanceSheetMemberagm:PartTimeFarmMember2019-12-310000845877agm:AgricultureStorageAndProcessingMemberagm:OnBalanceSheetMember2019-12-310000845877agm:OnBalanceSheetMemberagm:OtherCommodityMember2019-12-310000845877agm:OnBalanceSheetMember2019-12-310000845877agm:CropsMember2019-12-310000845877agm:PermanentPlantingsMember2019-12-310000845877agm:LivestockMember2019-12-310000845877agm:PartTimeFarmMember2019-12-310000845877agm:AgricultureStorageAndProcessingMember2019-12-310000845877agm:OtherCommodityMember2019-12-310000845877agm:CollateralDependentNotIndividuallyAnalyzedMember2019-12-310000845877agm:LessThan90DaysPastDueMember2019-12-310000845877agm:CropsMember2019-01-012019-03-310000845877agm:PermanentPlantingsMember2019-01-012019-03-310000845877agm:LivestockMember2019-01-012019-03-310000845877agm:PartTimeFarmMember2019-01-012019-03-310000845877agm:AgricultureStorageAndProcessingMember2019-01-012019-03-310000845877agm:OtherCommodityMember2019-01-012019-03-310000845877agm:OnBalanceSheetMember2019-01-012019-03-310000845877agm:FarmRanchMemberus-gaap:PassMember2020-03-310000845877us-gaap:SpecialMentionMemberagm:FarmRanchMember2020-03-310000845877us-gaap:SubstandardMemberagm:FarmRanchMember2020-03-310000845877us-gaap:PassMemberagm:RuralUtilitiesMember2020-03-310000845877us-gaap:SpecialMentionMemberagm:RuralUtilitiesMember2020-03-310000845877us-gaap:SubstandardMemberagm:RuralUtilitiesMember2020-03-310000845877agm:CropsMemberagm:OnBalanceSheetMemberus-gaap:PassMember2019-12-310000845877agm:OnBalanceSheetMemberus-gaap:PassMemberagm:PermanentPlantingsMember2019-12-310000845877agm:OnBalanceSheetMemberagm:LivestockMemberus-gaap:PassMember2019-12-310000845877agm:OnBalanceSheetMemberagm:PartTimeFarmMemberus-gaap:PassMember2019-12-310000845877agm:AgricultureStorageAndProcessingMemberagm:OnBalanceSheetMemberus-gaap:PassMember2019-12-310000845877agm:OnBalanceSheetMemberagm:OtherCommodityMemberus-gaap:PassMember2019-12-310000845877agm:OnBalanceSheetMemberus-gaap:PassMember2019-12-310000845877us-gaap:SpecialMentionMemberagm:CropsMemberagm:OnBalanceSheetMember2019-12-310000845877us-gaap:SpecialMentionMemberagm:OnBalanceSheetMemberagm:PermanentPlantingsMember2019-12-310000845877us-gaap:SpecialMentionMemberagm:OnBalanceSheetMemberagm:LivestockMember2019-12-310000845877us-gaap:SpecialMentionMemberagm:OnBalanceSheetMemberagm:PartTimeFarmMember2019-12-310000845877us-gaap:SpecialMentionMemberagm:AgricultureStorageAndProcessingMemberagm:OnBalanceSheetMember2019-12-310000845877us-gaap:SpecialMentionMemberagm:OnBalanceSheetMemberagm:OtherCommodityMember2019-12-310000845877us-gaap:SpecialMentionMemberagm:OnBalanceSheetMember2019-12-310000845877us-gaap:SubstandardMemberagm:CropsMemberagm:OnBalanceSheetMember2019-12-310000845877us-gaap:SubstandardMemberagm:OnBalanceSheetMemberagm:PermanentPlantingsMember2019-12-310000845877us-gaap:SubstandardMemberagm:OnBalanceSheetMemberagm:LivestockMember2019-12-310000845877us-gaap:SubstandardMemberagm:OnBalanceSheetMemberagm:PartTimeFarmMember2019-12-310000845877us-gaap:SubstandardMemberagm:AgricultureStorageAndProcessingMemberagm:OnBalanceSheetMember2019-12-310000845877us-gaap:SubstandardMemberagm:OnBalanceSheetMemberagm:OtherCommodityMember2019-12-310000845877us-gaap:SubstandardMemberagm:OnBalanceSheetMember2019-12-310000845877us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:FarmRanchMember2020-03-310000845877us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:FarmRanchMember2019-12-310000845877agm:USDAGuaranteesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2020-03-310000845877agm:USDAGuaranteesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-12-310000845877us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:InstitutionalCreditMemberMember2020-03-310000845877us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberagm:InstitutionalCreditMemberMember2019-12-310000845877us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2020-03-310000845877us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-12-310000845877agm:FarmerMacGuaranteedSecuritiesMember2020-03-310000845877agm:FarmerMacGuaranteedSecuritiesMember2019-12-310000845877agm:FarmerMacGuaranteedSecuritiesMember2020-01-012020-03-310000845877agm:FarmerMacGuaranteedSecuritiesMember2019-01-012019-12-310000845877agm:FarmerMacGuaranteedSecuritiesMemberagm:InstitutionalCreditMemberMember2020-01-012020-03-310000845877agm:FarmerMacGuaranteedSecuritiesMemberagm:InstitutionalCreditMemberMember2019-01-012019-12-310000845877agm:LongTermStandbyPurchaseCommitmentsMemberagm:GuaranteeobligationsissuedafterJanuary12003Member2020-03-310000845877agm:LongTermStandbyPurchaseCommitmentsMemberagm:GuaranteeobligationsissuedafterJanuary12003Member2019-12-310000845877agm:LongTermStandbyPurchaseCommitmentsMember2020-03-310000845877agm:LongTermStandbyPurchaseCommitmentsMember2019-12-310000845877agm:LongTermStandbyPurchaseCommitmentsMember2020-01-012020-03-310000845877agm:LongTermStandbyPurchaseCommitmentsMember2019-01-012019-12-310000845877agm:FarmRanchMemberagm:LongTermStandbyPurchaseCommitmentsAndGuaranteedSecuritiesMember2020-03-310000845877agm:FarmRanchMemberagm:LongTermStandbyPurchaseCommitmentsAndGuaranteedSecuritiesMember2019-12-310000845877agm:LongTermStandbyPurchaseCommitmentsMemberagm:RuralUtilitiesMember2020-03-310000845877agm:LongTermStandbyPurchaseCommitmentsMemberagm:RuralUtilitiesMember2019-12-310000845877agm:FarmRanchMemberus-gaap:AccountingStandardsUpdate201613Member2019-01-010000845877agm:FarmRanchMember2020-01-010000845877agm:FarmRanchMember2019-01-010000845877us-gaap:AccountingStandardsUpdate201613Memberagm:RuralUtilitiesMember2019-01-010000845877agm:RuralUtilitiesMember2020-01-010000845877agm:RuralUtilitiesMember2019-01-010000845877agm:FarmRanchMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberagm:LongTermStandbyPurchaseCommitmentsAndGuaranteedSecuritiesMember2020-03-310000845877agm:FarmRanchMemberagm:LongTermStandbyPurchaseCommitmentsAndGuaranteedSecuritiesMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-03-310000845877us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberagm:FarmRanchMemberagm:LongTermStandbyPurchaseCommitmentsAndGuaranteedSecuritiesMember2020-03-310000845877agm:LongTermStandbyPurchaseCommitmentsMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberagm:RuralUtilitiesMember2020-03-310000845877agm:LongTermStandbyPurchaseCommitmentsMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberagm:RuralUtilitiesMember2020-03-310000845877agm:LongTermStandbyPurchaseCommitmentsMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberagm:RuralUtilitiesMember2020-03-310000845877agm:CropsMemberagm:OffBalanceSheetMember2019-12-310000845877agm:OffBalanceSheetMemberagm:PermanentPlantingsMember2019-12-310000845877agm:LivestockMemberagm:OffBalanceSheetMember2019-12-310000845877agm:OffBalanceSheetMemberagm:PartTimeFarmMember2019-12-310000845877agm:AgricultureStorageAndProcessingMemberagm:OffBalanceSheetMember2019-12-310000845877agm:OffBalanceSheetMemberagm:OtherCommodityMember2019-12-310000845877agm:OffBalanceSheetMember2019-12-310000845877agm:OffBalanceSheetMember2019-01-012019-03-310000845877agm:FarmRanchMemberus-gaap:PassMemberagm:LongTermStandbyPurchaseCommitmentsAndGuaranteedSecuritiesMember2020-03-310000845877us-gaap:SpecialMentionMemberagm:FarmRanchMemberagm:LongTermStandbyPurchaseCommitmentsAndGuaranteedSecuritiesMember2020-03-310000845877us-gaap:SubstandardMemberagm:FarmRanchMemberagm:LongTermStandbyPurchaseCommitmentsAndGuaranteedSecuritiesMember2020-03-310000845877agm:FarmRanchMemberagm:LongTermStandbyPurchaseCommitmentsAndGuaranteedSecuritiesMember2020-01-012020-03-310000845877agm:LongTermStandbyPurchaseCommitmentsMemberus-gaap:PassMemberagm:RuralUtilitiesMember2020-03-310000845877us-gaap:SpecialMentionMemberagm:LongTermStandbyPurchaseCommitmentsMemberagm:RuralUtilitiesMember2020-03-310000845877us-gaap:SubstandardMemberagm:LongTermStandbyPurchaseCommitmentsMemberagm:RuralUtilitiesMember2020-03-310000845877agm:LongTermStandbyPurchaseCommitmentsMemberagm:RuralUtilitiesMember2020-01-012020-03-310000845877agm:CropsMemberagm:OffBalanceSheetMemberus-gaap:PassMember2019-12-310000845877agm:OffBalanceSheetMemberus-gaap:PassMemberagm:PermanentPlantingsMember2019-12-310000845877agm:LivestockMemberagm:OffBalanceSheetMemberus-gaap:PassMember2019-12-310000845877agm:OffBalanceSheetMemberagm:PartTimeFarmMemberus-gaap:PassMember2019-12-310000845877agm:AgricultureStorageAndProcessingMemberagm:OffBalanceSheetMemberus-gaap:PassMember2019-12-310000845877agm:OffBalanceSheetMemberagm:OtherCommodityMemberus-gaap:PassMember2019-12-310000845877agm:OffBalanceSheetMemberus-gaap:PassMember2019-12-310000845877us-gaap:SpecialMentionMemberagm:CropsMemberagm:OffBalanceSheetMember2019-12-310000845877us-gaap:SpecialMentionMemberagm:OffBalanceSheetMemberagm:PermanentPlantingsMember2019-12-310000845877us-gaap:SpecialMentionMemberagm:LivestockMemberagm:OffBalanceSheetMember2019-12-310000845877us-gaap:SpecialMentionMemberagm:OffBalanceSheetMemberagm:PartTimeFarmMember2019-12-310000845877us-gaap:SpecialMentionMemberagm:AgricultureStorageAndProcessingMemberagm:OffBalanceSheetMember2019-12-310000845877us-gaap:SpecialMentionMemberagm:OffBalanceSheetMemberagm:OtherCommodityMember2019-12-310000845877us-gaap:SpecialMentionMemberagm:OffBalanceSheetMember2019-12-310000845877us-gaap:SubstandardMemberagm:CropsMemberagm:OffBalanceSheetMember2019-12-310000845877us-gaap:SubstandardMemberagm:OffBalanceSheetMemberagm:PermanentPlantingsMember2019-12-310000845877us-gaap:SubstandardMemberagm:LivestockMemberagm:OffBalanceSheetMember2019-12-310000845877us-gaap:SubstandardMemberagm:OffBalanceSheetMemberagm:PartTimeFarmMember2019-12-310000845877us-gaap:SubstandardMemberagm:AgricultureStorageAndProcessingMemberagm:OffBalanceSheetMember2019-12-310000845877us-gaap:SubstandardMemberagm:OffBalanceSheetMemberagm:OtherCommodityMember2019-12-310000845877us-gaap:SubstandardMemberagm:OffBalanceSheetMember2019-12-310000845877agm:DiscountNotesMember2020-01-012020-03-310000845877us-gaap:MediumTermNotesMembersrt:MinimumMember2020-01-012020-03-310000845877srt:MaximumMemberus-gaap:MediumTermNotesMember2020-01-012020-03-310000845877us-gaap:NotesPayableToBanksMember2020-03-310000845877us-gaap:NotesPayableToBanksMember2020-01-012020-03-310000845877us-gaap:MediumTermNotesMember2020-03-310000845877us-gaap:MediumTermNotesMember2020-01-012020-03-310000845877us-gaap:LongTermDebtMember2020-03-310000845877us-gaap:DebtInstrumentRedemptionPeriodTwoMember2020-03-310000845877us-gaap:DebtInstrumentRedemptionPeriodThreeMember2020-03-310000845877us-gaap:DebtInstrumentRedemptionPeriodFourMember2020-03-310000845877us-gaap:DebtInstrumentRedemptionPeriodFiveMember2020-03-310000845877agm:DebtInstrumentRedemptionAfterPeriodFiveMember2020-03-310000845877us-gaap:NotesPayableToBanksMember2019-12-310000845877us-gaap:NotesPayableToBanksMember2019-01-012019-12-310000845877us-gaap:MediumTermNotesMember2019-12-310000845877us-gaap:MediumTermNotesMember2019-01-012019-12-310000845877us-gaap:LongTermDebtMember2019-12-310000845877us-gaap:DebtInstrumentRedemptionPeriodTwoMember2019-12-310000845877us-gaap:DebtInstrumentRedemptionPeriodThreeMember2019-12-310000845877us-gaap:DebtInstrumentRedemptionPeriodFourMember2019-12-310000845877us-gaap:DebtInstrumentRedemptionPeriodFiveMember2019-12-310000845877agm:DebtInstrumentRedemptionAfterPeriodFiveMember2019-12-310000845877us-gaap:NotesPayableToBanksMember2019-01-012019-03-310000845877us-gaap:CallOptionMember2020-03-310000845877us-gaap:CallOptionMemberagm:DueYearTwoMember2020-03-310000845877us-gaap:CallOptionMemberagm:DueYearThreeMember2020-03-310000845877us-gaap:CallOptionMemberagm:DueYearFourMember2020-03-310000845877us-gaap:CallOptionMemberagm:DueYearFiveMember2020-03-310000845877agm:DueAfterFiveYearsMemberus-gaap:CallOptionMember2020-03-310000845877agm:DueWithinOneYearMember2020-03-310000845877agm:DueYearTwoMember2020-03-310000845877agm:DueYearThreeMember2020-03-310000845877agm:DueYearFourMember2020-03-310000845877agm:DueYearFiveMember2020-03-310000845877agm:DueAfterFiveYearsMember2020-03-3100008458772019-04-012019-06-3000008458772019-10-012019-12-3100008458772019-07-012019-09-300000845877us-gaap:CommonClassCMember2015-09-300000845877us-gaap:CommonClassCMember2019-03-140000845877us-gaap:CommonClassCMember2015-09-302020-03-310000845877us-gaap:FairValueInputsLevel1Memberus-gaap:AuctionRateSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberagm:FloatingInterestRateMember2020-03-310000845877us-gaap:AuctionRateSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberagm:FloatingInterestRateMember2020-03-310000845877us-gaap:AuctionRateSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberagm:FloatingInterestRateMember2020-03-310000845877us-gaap:AuctionRateSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberagm:FloatingInterestRateMember2020-03-310000845877us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberagm:FloatingInterestRateMember2020-03-310000845877us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberagm:FloatingInterestRateMember2020-03-310000845877us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberagm:FloatingInterestRateMember2020-03-310000845877us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberagm:FloatingInterestRateMember2020-03-310000845877us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberagm:FloatingInterestRateMemberus-gaap:MortgageBackedSecuritiesMember2020-03-310000845877us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberagm:FloatingInterestRateMemberus-gaap:MortgageBackedSecuritiesMember2020-03-310000845877us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberagm:FloatingInterestRateMemberus-gaap:MortgageBackedSecuritiesMember2020-03-310000845877us-gaap:FairValueMeasurementsRecurringMemberagm:FloatingInterestRateMemberus-gaap:MortgageBackedSecuritiesMember2020-03-310000845877us-gaap:FairValueInputsLevel1Memberagm:FixedInterestRateMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2020-03-310000845877agm:FixedInterestRateMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesMember2020-03-310000845877agm:FixedInterestRateMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MortgageBackedSecuritiesMember2020-03-310000845877agm:FixedInterestRateMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2020-03-310000845877us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMemberagm:FixedInterestRateMemberus-gaap:FairValueMeasurementsRecurringMember2020-03-310000845877us-gaap:USTreasurySecuritiesMemberagm:FixedInterestRateMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2020-03-310000845877us-gaap:USTreasurySecuritiesMemberagm:FixedInterestRateMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-03-310000845877us-gaap:USTreasurySecuritiesMemberagm:FixedInterestRateMemberus-gaap:FairValueMeasurementsRecurringMember2020-03-310000845877us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-03-310000845877us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-03-310000845877us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-03-310000845877us-gaap:FairValueMeasurementsRecurringMember2020-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberagm:InstitutionalCreditMemberMember2020-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberagm:InstitutionalCreditMemberMember2020-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberagm:InstitutionalCreditMemberMember2020-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberagm:InstitutionalCreditMemberMember2020-03-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-03-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2020-03-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-03-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-03-310000845877us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-03-310000845877us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-03-310000845877us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-03-310000845877us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-03-310000845877us-gaap:FairValueInputsLevel3Member2020-03-310000845877us-gaap:FairValueInputsLevel1Memberus-gaap:AuctionRateSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberagm:FloatingInterestRateMember2019-12-310000845877us-gaap:AuctionRateSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberagm:FloatingInterestRateMember2019-12-310000845877us-gaap:AuctionRateSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberagm:FloatingInterestRateMember2019-12-310000845877us-gaap:AuctionRateSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberagm:FloatingInterestRateMember2019-12-310000845877us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberagm:FloatingInterestRateMember2019-12-310000845877us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberagm:FloatingInterestRateMember2019-12-310000845877us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberagm:FloatingInterestRateMember2019-12-310000845877us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberagm:FloatingInterestRateMember2019-12-310000845877us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberagm:FloatingInterestRateMemberus-gaap:MortgageBackedSecuritiesMember2019-12-310000845877us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberagm:FloatingInterestRateMemberus-gaap:MortgageBackedSecuritiesMember2019-12-310000845877us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberagm:FloatingInterestRateMemberus-gaap:MortgageBackedSecuritiesMember2019-12-310000845877us-gaap:FairValueMeasurementsRecurringMemberagm:FloatingInterestRateMemberus-gaap:MortgageBackedSecuritiesMember2019-12-310000845877us-gaap:FairValueInputsLevel1Memberagm:FixedInterestRateMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2019-12-310000845877agm:FixedInterestRateMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesMember2019-12-310000845877agm:FixedInterestRateMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MortgageBackedSecuritiesMember2019-12-310000845877agm:FixedInterestRateMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2019-12-310000845877us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMemberagm:FixedInterestRateMemberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000845877us-gaap:USTreasurySecuritiesMemberagm:FixedInterestRateMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2019-12-310000845877us-gaap:USTreasurySecuritiesMemberagm:FixedInterestRateMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2019-12-310000845877us-gaap:USTreasurySecuritiesMemberagm:FixedInterestRateMemberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000845877us-gaap:DebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000845877us-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2019-12-310000845877us-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2019-12-310000845877us-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberagm:InstitutionalCreditMemberMember2019-12-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberagm:InstitutionalCreditMemberMember2019-12-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberagm:InstitutionalCreditMemberMember2019-12-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberagm:InstitutionalCreditMemberMember2019-12-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2019-12-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2019-12-310000845877agm:USDAGuaranteesMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000845877us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000845877us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000845877us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000845877us-gaap:FairValueMeasurementsRecurringMember2019-12-310000845877us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2019-12-310000845877us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2019-12-310000845877us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2019-12-310000845877us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2019-12-310000845877us-gaap:FairValueInputsLevel3Member2019-12-310000845877us-gaap:AuctionRateSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Memberagm:FloatingInterestRateMember2019-12-310000845877us-gaap:AuctionRateSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Memberagm:FloatingInterestRateMember2020-01-012020-03-310000845877us-gaap:AuctionRateSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Memberagm:FloatingInterestRateMember2020-03-310000845877us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Member2019-12-310000845877us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Member2020-01-012020-03-310000845877us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Member2020-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Memberagm:InstitutionalCreditMemberMember2019-12-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Memberagm:InstitutionalCreditMemberMember2020-01-012020-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Memberagm:InstitutionalCreditMemberMember2020-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Member2019-12-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Member2020-01-012020-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Member2020-03-310000845877agm:USDAGuaranteesMemberus-gaap:TradingAssetsExcludingDebtAndEquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2019-12-310000845877agm:USDAGuaranteesMemberus-gaap:TradingAssetsExcludingDebtAndEquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-01-012020-03-310000845877agm:USDAGuaranteesMemberus-gaap:TradingAssetsExcludingDebtAndEquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-03-310000845877agm:USDAGuaranteesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2019-12-310000845877agm:USDAGuaranteesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-01-012020-03-310000845877agm:USDAGuaranteesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-03-310000845877us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-01-012020-03-310000845877us-gaap:AuctionRateSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Memberagm:FloatingInterestRateMember2018-12-310000845877us-gaap:AuctionRateSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Memberagm:FloatingInterestRateMember2019-01-012019-03-310000845877us-gaap:AuctionRateSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Memberagm:FloatingInterestRateMember2019-03-310000845877us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Member2018-12-310000845877us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Member2019-01-012019-03-310000845877us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Member2019-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Memberagm:InstitutionalCreditMemberMember2018-12-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Memberagm:InstitutionalCreditMemberMember2019-01-012019-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Memberagm:InstitutionalCreditMemberMember2019-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Member2018-12-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Member2019-01-012019-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Member2019-03-310000845877agm:USDAGuaranteesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Member2018-12-310000845877agm:USDAGuaranteesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Member2019-01-012019-03-310000845877agm:USDAGuaranteesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueInputsLevel3Member2019-03-310000845877agm:USDAGuaranteesMemberus-gaap:TradingAssetsExcludingDebtAndEquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2018-12-310000845877agm:USDAGuaranteesMemberus-gaap:TradingAssetsExcludingDebtAndEquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2019-01-012019-03-310000845877agm:USDAGuaranteesMemberus-gaap:TradingAssetsExcludingDebtAndEquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2019-03-310000845877agm:USDAGuaranteesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2018-12-310000845877agm:USDAGuaranteesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2019-01-012019-03-310000845877agm:USDAGuaranteesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2019-03-310000845877us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000845877us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2019-01-012019-03-310000845877us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2019-03-310000845877us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AuctionRateSecuritiesMemberagm:FloatingInterestRateMember2020-03-310000845877us-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AuctionRateSecuritiesMembersrt:MinimumMemberagm:MeasurementInputRangeOfBrokerQuotesMember2020-03-310000845877srt:MaximumMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AuctionRateSecuritiesMemberagm:MeasurementInputRangeOfBrokerQuotesMember2020-03-310000845877srt:WeightedAverageMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AuctionRateSecuritiesMemberagm:MeasurementInputRangeOfBrokerQuotesMember2020-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberagm:InstitutionalCreditMemberMember2020-03-310000845877us-gaap:MeasurementInputDiscountRateMemberus-gaap:CostApproachValuationTechniqueMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberagm:InstitutionalCreditMemberMember2020-03-310000845877us-gaap:MeasurementInputDiscountRateMembersrt:MaximumMemberus-gaap:CostApproachValuationTechniqueMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberagm:InstitutionalCreditMemberMember2020-03-310000845877us-gaap:MeasurementInputDiscountRateMemberus-gaap:CostApproachValuationTechniqueMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMembersrt:WeightedAverageMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberagm:InstitutionalCreditMemberMember2020-03-310000845877us-gaap:MeasurementInputDiscountRateMemberagm:USDAGuaranteesMemberus-gaap:CostApproachValuationTechniqueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMembersrt:MinimumMember2020-03-310000845877us-gaap:MeasurementInputDiscountRateMemberagm:USDAGuaranteesMembersrt:MaximumMemberus-gaap:CostApproachValuationTechniqueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-03-310000845877us-gaap:MeasurementInputDiscountRateMemberagm:USDAGuaranteesMemberus-gaap:CostApproachValuationTechniqueMembersrt:WeightedAverageMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-03-310000845877agm:USDAGuaranteesMemberus-gaap:CostApproachValuationTechniqueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputConstantPrepaymentRateMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMembersrt:MinimumMember2020-03-310000845877agm:USDAGuaranteesMembersrt:MaximumMemberus-gaap:CostApproachValuationTechniqueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputConstantPrepaymentRateMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-03-310000845877agm:USDAGuaranteesMemberus-gaap:CostApproachValuationTechniqueMembersrt:WeightedAverageMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputConstantPrepaymentRateMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-03-310000845877us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AuctionRateSecuritiesMemberagm:FloatingInterestRateMember2019-12-310000845877us-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AuctionRateSecuritiesMembersrt:MinimumMemberagm:MeasurementInputRangeOfBrokerQuotesMember2019-12-310000845877srt:MaximumMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AuctionRateSecuritiesMemberagm:MeasurementInputRangeOfBrokerQuotesMember2019-12-310000845877srt:WeightedAverageMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AuctionRateSecuritiesMemberagm:MeasurementInputRangeOfBrokerQuotesMember2019-12-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberagm:InstitutionalCreditMemberMember2019-12-310000845877us-gaap:MeasurementInputDiscountRateMemberus-gaap:CostApproachValuationTechniqueMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberagm:InstitutionalCreditMemberMember2019-12-310000845877us-gaap:MeasurementInputDiscountRateMembersrt:MaximumMemberus-gaap:CostApproachValuationTechniqueMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberagm:InstitutionalCreditMemberMember2019-12-310000845877us-gaap:MeasurementInputDiscountRateMemberus-gaap:CostApproachValuationTechniqueMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMembersrt:WeightedAverageMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberagm:InstitutionalCreditMemberMember2019-12-310000845877us-gaap:MeasurementInputDiscountRateMemberagm:USDAGuaranteesMemberus-gaap:CostApproachValuationTechniqueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMembersrt:MinimumMember2019-12-310000845877us-gaap:MeasurementInputDiscountRateMemberagm:USDAGuaranteesMembersrt:MaximumMemberus-gaap:CostApproachValuationTechniqueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2019-12-310000845877us-gaap:MeasurementInputDiscountRateMemberagm:USDAGuaranteesMemberus-gaap:CostApproachValuationTechniqueMembersrt:WeightedAverageMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2019-12-310000845877agm:USDAGuaranteesMemberus-gaap:CostApproachValuationTechniqueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputConstantPrepaymentRateMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMembersrt:MinimumMember2019-12-310000845877agm:USDAGuaranteesMembersrt:MaximumMemberus-gaap:CostApproachValuationTechniqueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputConstantPrepaymentRateMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2019-12-310000845877agm:USDAGuaranteesMemberus-gaap:CostApproachValuationTechniqueMembersrt:WeightedAverageMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputConstantPrepaymentRateMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2019-12-310000845877us-gaap:EstimateOfFairValueFairValueDisclosureMember2020-03-310000845877us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-03-310000845877us-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000845877us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310000845877us-gaap:DebtSecuritiesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-03-310000845877us-gaap:DebtSecuritiesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-03-310000845877us-gaap:DebtSecuritiesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000845877us-gaap:DebtSecuritiesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-03-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000845877us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310000845877us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-03-310000845877us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-03-310000845877us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000845877us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310000845877agm:FarmRanchMemberus-gaap:OperatingSegmentsMember2020-01-012020-03-310000845877agm:USDAGuaranteesMemberus-gaap:OperatingSegmentsMember2020-01-012020-03-310000845877us-gaap:OperatingSegmentsMemberagm:RuralUtilitiesMember2020-01-012020-03-310000845877agm:InstitutionalCreditMemberMemberus-gaap:OperatingSegmentsMember2020-01-012020-03-310000845877us-gaap:CorporateNonSegmentMember2020-01-012020-03-310000845877us-gaap:MaterialReconcilingItemsMember2020-01-012020-03-310000845877agm:FarmRanchMemberus-gaap:OperatingSegmentsMember2020-03-310000845877agm:USDAGuaranteesMemberus-gaap:OperatingSegmentsMember2020-03-310000845877us-gaap:OperatingSegmentsMemberagm:RuralUtilitiesMember2020-03-310000845877agm:InstitutionalCreditMemberMemberus-gaap:OperatingSegmentsMember2020-03-310000845877us-gaap:CorporateNonSegmentMember2020-03-310000845877us-gaap:MaterialReconcilingItemsMember2020-03-310000845877agm:FarmRanchMemberus-gaap:OperatingSegmentsMember2019-01-012019-03-310000845877agm:USDAGuaranteesMemberus-gaap:OperatingSegmentsMember2019-01-012019-03-310000845877us-gaap:OperatingSegmentsMemberagm:RuralUtilitiesMember2019-01-012019-03-310000845877agm:InstitutionalCreditMemberMemberus-gaap:OperatingSegmentsMember2019-01-012019-03-310000845877us-gaap:CorporateNonSegmentMember2019-01-012019-03-310000845877us-gaap:MaterialReconcilingItemsMember2019-01-012019-03-310000845877agm:FarmRanchMemberus-gaap:OperatingSegmentsMember2019-03-310000845877agm:USDAGuaranteesMemberus-gaap:OperatingSegmentsMember2019-03-310000845877us-gaap:OperatingSegmentsMemberagm:RuralUtilitiesMember2019-03-310000845877agm:InstitutionalCreditMemberMemberus-gaap:OperatingSegmentsMember2019-03-310000845877us-gaap:CorporateNonSegmentMember2019-03-310000845877us-gaap:MaterialReconcilingItemsMember2019-03-31

As filed with the Securities and Exchange Commission on May 11, 2020

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2020
Commission File Number 001-14951 

agm-20200331_g1.jpg
FEDERAL AGRICULTURAL MORTGAGE CORPORATION
(Exact name of registrant as specified in its charter)

Federally chartered instrumentality
of the United States
 52-1578738
(State or other jurisdiction of
incorporation or organization)
 (I.R.S. employer identification number)
   
1999 K Street, N.W., 4th Floor,
 
Washington,DC20006
(Address of principal executive offices) (Zip code)

(202)872-7700
(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbol Exchange on which registered
Class A voting common stockAGM.A New York Stock Exchange
Class C non-voting common stockAGM New York Stock Exchange
5.875% Non-Cumulative Preferred Stock, Series AAGM.PRANew York Stock Exchange
6.000% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series CAGM.PRCNew York Stock Exchange
5.700% Non-Cumulative Preferred Stock, Series DAGM.PRDNew York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act: Class B voting common stock

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
Yes        o                                No          x
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.
Yes        o                                No           x
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes        ☒                              No           ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes                                       No          
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.  See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.  (Check one):
Large accelerated filerAccelerated filer
Non-accelerated filerSmaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes                                        No           
As of April 30, 2020, the registrant had outstanding 1,030,780 shares of Class A voting common stock, 500,301 shares of Class B voting common stock, and 9,197,805 shares of Class C non-voting common stock.

2

Table of Contents
PART I


3

PART I

Item 1.Financial Statements
FEDERAL AGRICULTURAL MORTGAGE CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(unaudited)
As of
 March 31, 2020December 31, 2019
 (in thousands)
Assets:  
Cash and cash equivalents$1,231,585  $604,381  
Investment securities:  
Available-for-sale, at fair value (amortized cost of $2,959,694 and $2,961,430, respectively)
2,961,157  2,959,843  
Held-to-maturity, at amortized cost45,032  45,032  
Total Investment Securities3,006,189  3,004,875  
Farmer Mac Guaranteed Securities:  
Available-for-sale, at fair value (amortized cost of $7,273,303 and $7,016,971, respectively)
7,587,186  7,143,025  
Held-to-maturity, at amortized cost1,447,883  1,447,451  
Total Farmer Mac Guaranteed Securities9,035,069  8,590,476  
USDA Securities:  
Trading, at fair value8,408  8,913  
Held-to-maturity, at amortized cost2,269,611  2,232,160  
Total USDA Securities2,278,019  2,241,073  
Loans:  
Loans held for investment, at amortized cost5,789,391  5,390,977  
Loans held for investment in consolidated trusts, at amortized cost1,540,689  1,600,917  
Allowance for losses(14,856) (10,454) 
Total loans, net of allowance7,315,224  6,981,440  
Financial derivatives, at fair value12,692  10,519  
Interest receivable (includes $11,944 and $20,568, respectively, related to consolidated trusts)
154,836  199,195  
Guarantee and commitment fees receivable37,521  38,442  
Deferred tax asset, net47,842  16,510  
Prepaid expenses and other assets61,133  22,463  
Total Assets$23,180,110  $21,709,374  
Liabilities and Equity:  
Liabilities:  
Notes payable20,665,020  19,098,648  
Debt securities of consolidated trusts held by third parties1,549,527  1,616,504  
Financial derivatives, at fair value53,795  27,042  
Accrued interest payable (includes $9,588 and $18,018, respectively, related to consolidated trusts)
104,380  106,959  
Guarantee and commitment obligation35,939  36,700  
Accounts payable and accrued expenses74,412  22,081  
Reserve for losses3,420  2,164  
Total Liabilities22,486,493  20,910,098  
Commitments and Contingencies (Note 6)
Equity:  
Preferred stock:  
Series A, par value $25 per share, 2,400,000 shares authorized, issued and outstanding
58,333  58,333  
      Series C, par value $25 per share, 3,000,000 shares authorized, issued and outstanding
73,382  73,382  
Series D, par value $25 per share, 4,000,000 shares authorized, issued and outstanding
96,659  96,659  
Common stock:  
Class A Voting, $1 par value, no maximum authorization, 1,030,780 shares outstanding
1,031  1,031  
Class B Voting, $1 par value, no maximum authorization, 500,301 shares outstanding
500  500  
Class C Non-Voting, $1 par value, no maximum authorization, 9,192,047 shares and 9,180,744 shares outstanding, respectively
9,192  9,181  
Additional paid-in capital120,412  119,304  
Accumulated other comprehensive loss, net of tax(121,437) (16,161) 
Retained earnings455,545  457,047  
Total Equity693,617  799,276  
Total Liabilities and Equity$23,180,110  $21,709,374  
The accompanying notes are an integral part of these consolidated financial statements.

4

FEDERAL AGRICULTURAL MORTGAGE CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)

For the Three Months Ended
 March 31, 2020March 31, 2019
 (in thousands, except per share amounts)
Interest income:
Investments and cash equivalents$17,741  $18,707  
Farmer Mac Guaranteed Securities and USDA Securities71,517  85,411  
Loans60,596  51,397  
Total interest income149,854  155,515  
Total interest expense108,542  114,916  
Net interest income41,312  40,599  
(Provision for)/release of losses(3,438) 264  
Net interest income after (provision for)/release of losses37,874  40,863  
Non-interest (expense)/income:
Guarantee and commitment fees3,196  3,513  
Losses on financial derivatives(9,298) (360) 
Gains on trading securities106  44  
Gains on sale of real estate owned485    
(Provision for)/release of reserve for losses(393) 129  
Other income816  493  
Non-interest (expense)/income(5,088) 3,819  
Operating expenses:
Compensation and employee benefits10,127  7,606  
General and administrative5,363  4,596  
Regulatory fees725  688  
Operating expenses16,215  12,890  
Income before income taxes16,571  31,792  
Income tax expense3,741  6,622  
Net income attributable to Farmer Mac12,830  25,170  
Preferred stock dividends(3,431) (3,296) 
Net income attributable to common stockholders$9,399  $21,874  
Earnings per common share:
Basic earnings per common share$0.88  $2.05  
Diluted earnings per common share$0.87  $2.03  
The accompanying notes are an integral part of these consolidated financial statements.

5

FEDERAL AGRICULTURAL MORTGAGE CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(unaudited)

For the Three Months Ended
 March 31, 2020March 31, 2019
 (in thousands)
Net income$12,830  $25,170  
Other comprehensive income before taxes:
Net unrealized (losses)/gains on available-for-sale securities (99,316) 3,241  
Net changes in held-to-maturity securities(5,688) (2,262) 
Net unrealized losses on cash flow hedges(28,256) (5,665) 
Other comprehensive loss before tax(133,260) (4,686) 
Income tax benefit related to other comprehensive loss27,984  984  
Other comprehensive loss net of tax(105,276) (3,702) 
Comprehensive (loss)/income attributable to Farmer Mac$(