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Securities (Tables)
 9 Months Ended
Sep. 30, 2024
Marketable Securities [Abstract]  
Trading Securities, [Table Text Block]
The fair value and net unrealized gain (loss) included in trading securities are as follows (in thousands):
 
 September 30, 2024December 31, 2023
 Fair ValueNet Unrealized Gain (Loss)Fair ValueNet Unrealized Gain (Loss)
U.S. government securities$332,466 $(569)$10,959 $28 
Residential agency mortgage-backed securities
4,672,427 40,586 5,105,137 98,124 
Municipal securities76,004 43 37,413 323 
Other trading securities58,828 124 39,996 160 
Total trading securities$5,139,725 $40,184 $5,193,505 $98,635 
Investment Securities (Held-to-Maturity) [Table Text Block]
The amortized cost and fair values of investment securities are as follows (in thousands):
 September 30, 2024
 AmortizedCarryingFairGross Unrealized
 Cost
Value1
ValueGainLoss
Municipal securities$104,775 $104,775 $108,213 $3,657 $(219)
Mortgage-backed securities:
Residential agency2,061,239 1,933,393 1,799,308 112 (134,197)
Commercial agency17,257 16,143 15,603 — (540)
Other debt securities15,788 15,788 14,783 — (1,005)
Total investment securities2,199,059 2,070,099 1,937,907 3,769 (135,961)
Allowance for credit losses(234)(234)— — — 
Investment securities, net of allowance$2,198,825 $2,069,865 $1,937,907 $3,769 $(135,961)
1    Carrying value includes $129 million of net unrealized loss which remains in AOCI in the Consolidated Balance Sheets related to certain securities transferred during the second quarter of 2022 from the Available-for-sale securities portfolio to the investment securities portfolio.
 December 31, 2023
 AmortizedCarryingFairGross Unrealized
 Cost
Value1
ValueGainLoss
Municipal securities$120,705 $120,705 $125,525 $5,014 $(194)
Mortgage-backed securities:
Residential agency2,255,340 2,092,083 1,917,810 125 (174,398)
Commercial agency17,258 15,914 15,067 — (847)
Other debt securities15,787 15,787 14,184 — (1,603)
Total investment securities2,409,090 2,244,489 2,072,586 5,139 (177,042)
Allowance for credit losses(336)(336)— — — 
Investment securities, net of allowance$2,408,754 $2,244,153 $2,072,586 $5,139 $(177,042)
1    Carrying value includes $165 million of net unrealized loss which remains in AOCI in the Consolidated Balance Sheets related to certain securities transferred during the second quarter of 2022 from the Available-for-sale securities portfolio to the investment securities portfolio.
The amortized cost and fair values of investment securities at September 30, 2024, by contractual maturity, are as shown in the following table (dollars in thousands):
Less than
One Year		One to
Five Years		Six to
Ten Years		Over
Ten Years		Total
Weighted
Average
Maturity1
Fixed maturity debt securities:     
Carrying value$18,305 $101,272 $17,116 $13 $136,706 2.90 
Fair value18,429 104,089 16,068 13 138,599  
Residential mortgage-backed securities:      
Carrying value    $1,933,393 2
Fair value    1,799,308  
Total investment securities:      
Carrying value    $2,070,099  
Fair value    1,937,907  
1Expected maturities may differ from contractual maturities, because borrowers may have the right to call or prepay obligations with or without penalty.
2The average expected lives of residential mortgage-backed securities were 4.6 years based upon current prepayment assumptions.

Temporarily Impaired Investment Securities
(dollars in thousands):
September 30, 2024
 Number of SecuritiesLess Than 12 Months12 Months or LongerTotal
Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
Investment:       
Municipal securities13 $2,826 $8 $7,180 $211 $10,006 $219 
Mortgage-backed securities:
Residential agency116 — — 1,798,334 134,197 1,798,334 134,197 
Commercial agency2 — — 15,603 540 15,603 540 
Other debt securities3 — — 9,270 1,005 9,270 1,005 
Total investment securities134 $2,826 $8 $1,830,387 $135,953 $1,833,213 $135,961 

December 31, 2023
 Number of SecuritiesLess Than 12 Months12 Months or LongerTotal
Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
Investment:       
Municipal securities13 $1,931 $5 $6,600 $189 $8,531 $194 
Mortgage-backed securities:
Residential agency116 — — 1,916,732 174,398 1,916,732 174,398 
Commercial agency2 — — 15,067 847 15,067 847 
Other debt securities3 — — 8,672 1,603 8,672 1,603 
Total investment securities134 $1,931 $5 $1,947,071 $177,037 $1,949,002 $177,042 
Available For Sale Securities [Table Text Block]
The amortized cost and fair value of available-for-sale securities are as follows (in thousands):
 September 30, 2024
 AmortizedFairGross Unrealized
 CostValueGainLoss
U.S. Treasury$1,000 $951 $— $(49)
Municipal securities241,447 228,171 7 (13,283)
Mortgage-backed securities:    
Residential agency8,649,078 8,577,928 98,405 (169,555)
Residential non-agency856,010 838,783 15,310 (32,537)
Commercial agency3,575,311 3,369,680 3,857 (209,488)
Other debt securities500 473 — (27)
Total available-for-sale securities
$13,323,346 $13,015,986 $117,579 $(424,939)
 December 31, 2023
 AmortizedFairGross Unrealized
 CostValueGainLoss
U.S. Treasury$1,000 $925 $— $(75)
Municipal securities544,707 502,833 1 (41,875)
Mortgage-backed securities:   
Residential agency7,066,645 6,834,720 36,983 (268,908)
Residential non-agency833,535 799,877 12,865 (46,523)
Commercial agency4,456,918 4,147,853 2,972 (312,037)
Other debt securities500 473 — (27)
Total available-for-sale securities
$12,903,305 $12,286,681 $52,821 $(669,445)

The amortized cost and fair values of available-for-sale securities at September 30, 2024, by contractual maturity, are as shown in the following table (dollars in thousands):
Less than
One Year		One to
Five Years		Six to
Ten Years		Over
Ten Years		Total
Weighted
Average
Maturity1
Fixed maturity debt securities:
Amortized cost$317,443 $2,432,178 $631,714 $436,923 $3,818,258 5.10 
Fair value314,948 2,274,047 585,305 424,975 3,599,275 
Residential mortgage-backed securities:
Amortized cost$9,505,088 2
Fair value9,416,711 
Total available-for-sale securities:
Amortized cost$13,323,346 
Fair value13,015,986 
1Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalty.
2The average expected lives of residential mortgage-backed securities were 3.9 years based upon current prepayment assumptions.
Sales of available-for-sale securities resulted in gains and losses as follows (in thousands):
 Three Months Ended
September 30,		Nine Months Ended September 30,
 2024202320242023
Proceeds$101,522 $— $839,352 $135,489 
Gross realized gains1,802 — 2,257 703 
Gross realized losses(2,493)— (48,085)(3,713)
Related federal and state income tax expense (benefit)(163)— (10,779)(708)
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value [Table Text Block]
September 30, 2024
 Number of SecuritiesLess Than 12 Months12 Months or LongerTotal
Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
Available-for-sale:
       
U.S. Treasury1 $— $— $951 $49 $951 $49 
Municipal securities112 — — 224,510 13,283 224,510 13,283 
Mortgage-backed securities:
    
Residential agency563 111,492 578 3,108,156 168,977 3,219,648 169,555 
Residential non-agency30 7,505 8 481,206 32,529 488,711 32,537 
Commercial agency223 51,254 70 2,975,299 209,418 3,026,553 209,488 
Other debt securities1 — — 473 27 473 27 
Total available-for-sale securities
930 $170,251 $656 $6,790,595 $424,283 $6,960,846 $424,939 

December 31, 2023
 Number of SecuritiesLess Than 12 Months12 Months or LongerTotal
Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
Available-for-sale:
     
U.S. Treasury
1 $— $— $925 $75 $925 $75 
Municipal securities190 6,799 410 494,955 41,465 501,754 41,875 
Mortgage-backed securities:
     
Residential agency
630 690,118 3,689 3,717,975 265,219 4,408,093 268,908 
Residential non-agency32 116,077 1,244 451,370 45,279 567,447 46,523 
Commercial agency
269 392,828 2,626 3,421,757 309,411 3,814,585 312,037 
Other debt securities1 — — 473 27 473 27 
Total available-for-sale securities
1,123 $1,205,822 $7,969 $8,087,455 $661,476 $9,293,277 $669,445 
Fair Value Option Securities [Table Text Block]
The fair value and net unrealized gain (loss) included in fair value option securities is as follows (in thousands):
 September 30, 2024December 31, 2023
 Fair ValueNet Unrealized Gain (Loss)Fair ValueNet Unrealized Gain (Loss)
Residential agency mortgage-backed securities$19,172 $(1,040)$20,671 $(1,406)