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Interest Income and Interest Expense (Tables) | 9 Months Ended
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Sep. 30, 2025
Banking and Thrift, Interest [Abstract] |
Components of Interest Income and Interest Expense | The components of interest income and interest expense are as follows (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Interest income: |  |  |  |  |  |  |  |  |  |  |  |
Loans held for investment, net |  | $ | 316,551 |  |  | $ | 319,493 |  |  | $ | 932,153 |  |  | $ | 936,714 |
Investment securities |  |  | 110,694 |  |  |  | 124,582 |  |  |  | 338,164 |  |  |  | 360,975 |
Interest-bearing cash and federal funds sold |  |  | 24,086 |  |  |  | 36,684 |  |  |  | 71,206 |  |  |  | 128,842 |
Margin balances |  |  | 15,510 |  |  |  | 13,710 |  |  |  | 43,744 |  |  |  | 41,870 |
Financial instruments owned |  |  | 8,300 |  |  |  | 7,027 |  |  |  | 24,179 |  |  |  | 18,232 |
Other |  |  | 6,363 |  |  |  | 9,327 |  |  |  | 24,746 |  |  |  | 29,170 |
|  | $ | 481,504 |  |  | $ | 510,823 |  |  | $ | 1,434,192 |  |  | $ | 1,515,803 |
Interest expense: |  |  |  |  |  |  |  |  |  |  |  |
Bank deposits |  | $ | 187,988 |  |  | $ | 229,725 |  |  | $ | 568,643 |  |  | $ | 680,076 |
Senior notes |  |  | 7,131 |  |  |  | 8,184 |  |  |  | 21,393 |  |  |  | 33,197 |
Other |  |  | 10,050 |  |  |  | 13,283 |  |  |  | 35,490 |  |  |  | 39,903 |
|  | $ | 205,169 |  |  | $ | 251,192 |  |  | $ | 625,526 |  |  | $ | 753,176 |

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- Definition Tabular disclosure of interest income and expense, including, but not limited to, interest income and expense from investments, loans, and securities. + References No definition available. + Details
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