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Off-Balance Sheet Arrangements, Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2024
Off Balance Sheet Arrangements Commitments And Contingencies [Abstract]  
Summary of Future Cash Payments Associated with Contractual Obligations Pursuant to Subordinated Debentures, Federal Bank's Bank Term Funding Program

The Company’s future cash payments associated with its contractual obligations pursuant to its FHLB advances as of December 31, 2024 is summarized below.

 

 

 

1 year or less

 

 

More than 1 year but less than 3 years

 

 

3 years or more but less than 5 years

 

 

5 years or more

 

 

Total

 

 

 

(Dollars in thousands)

 

FHLB advances

 

$

3,200,000

 

 

$

 

 

$

 

 

$

 

 

$

3,200,000

 

 

Summary of Commitments Associated with Outstanding Standby Letters of Credit and Commitments to Extend Credit

The Company’s commitments associated with outstanding standby letters of credit, unused capacity on Warehouse Purchase Program loans and commitments to extend credit expiring by period as of December 31, 2024 are summarized below. Since commitments associated with letters of credit, unused capacity on Warehouse Purchase Program loans and commitments to extend credit may expire unused, the amounts shown may not necessarily reflect the actual future cash funding requirements.

 

 

1 year or less

 

 

More than 1 year but less than 3 years

 

 

3 years or more but less than 5 years

 

 

5 years or more

 

 

Total

 

 

 

(Dollars in thousands)

 

Standby letters of credit

 

$

73,827

 

 

$

10,481

 

 

$

2,088

 

 

$

26

 

 

$

86,422

 

Unused capacity on Warehouse Purchase Program loans

 

 

1,055,597

 

 

 

 

 

 

 

 

 

 

 

 

1,055,597

 

Commitments to extend credit

 

 

1,600,580

 

 

 

1,004,273

 

 

 

101,428

 

 

 

1,273,127

 

 

 

3,979,408

 

Total

 

$

2,730,004

 

 

$

1,014,754

 

 

$

103,516

 

 

$

1,273,153

 

 

$

5,121,427

 

Future Undiscounted Cash Payments Associated with its Operating Leases

The Company’s future undiscounted cash payments associated with its operating leases as of December 31, 2024 are summarized below (dollars in thousands).

 

2025

 

$

10,461

 

2026

 

 

9,334

 

2027

 

 

6,332

 

2028

 

 

3,355

 

2029

 

 

2,006

 

Thereafter

 

 

10,495

 

Total undiscounted lease payments

 

$

41,983