XML 53 R42.htm IDEA: XBRL DOCUMENT
v3.25.1

GOVERNMENT AND GOVERNMENT-BACKED SECURITIES (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract] |
Schedule of Debt Securities, Available-for-sale | The following tables summarize Agency and Treasury securities by designation:
|  | March 31, 2025 |  | December 31, 2024
|  |  |  | Gross Unrealized |  |  |  |  |  | Weighted Average |
|  | Outstanding Face Amount |  | Gains |  | Losses |  | Carrying Value(A) |  | Number of Securities |  | Coupon |  | Yield |  | Life (Years)(B) |  | Carrying Value(A)
Securities Designated as AFS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency(C)(D) |  | $ | 68,354 |  |  | $ | — |  |  | $ | — |  |  | $ | 60,630 |  |  | 1 |  |  | 3.5 | % |  | 3.5 | % |  | 11.2 |  | $ | 60,135 |
Securities Measured at Fair Value through Net Income (“FVO”): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency(C) |  | 7,827,454 |  |  | 61,666 |  |  | (10,200) |  |  | 7,691,274 |  |  | 23 |  |  | 5.1 | % |  | 5.1 | % |  | 7.9 |  | 6,390,508
Treasury(C) |  | 3,250,000 |  |  | 14,648 |  |  | — |  |  | 3,272,031 |  |  | 3 |  |  | 4.5 | % |  | 4.5 | % |  | 1.4 |  | 3,260,703
Total / Weighted Average |  | $ | 11,145,808 |  |  | $ | 76,314 |  |  | $ | (10,200) |  |  | $ | 11,023,935 |  |  | 27 |  |  | 4.9 | % |  | 4.9 | % |  | 6.0 |  | $ | 9,711,346 |
(A)Fair value is equal to the carrying value for all securities. See Note 19 regarding the fair value measurements. (B)Based on the timing of expected principal reduction on the underlying assets. (C)All fixed-rate as of March 31, 2025. (D)Expected loss is realized through allowance for credit losses. The following table summarizes purchases and sales of Agency and Treasury securities:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |  |  |
| Treasury |  | Agency |  | Treasury(A) |  | Agency |  |  |  |  |  |  |  |  |  |  |  |
Purchases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Face | $ | 25,000 |  |  | $ | 1,355,800 |  |  | $ | 4,800,000 |  |  | $ | 1,287,034 |  |  |  |  |  |  |  |  |  |  |  |  |
Purchase price | 24,732 |  |  | 1,326,895 |  |  | 4,773,892 |  |  | 1,255,894 |  |  |  |  |  |  |  |  |  |  |  |  |
Sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Face | $ | — |  |  | $ | 1,274 |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  |  |  |  |  |  |  |
Amortized cost | — |  |  | 1,349 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Sale price | — |  |  | 1,291 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Gain (loss) on sale | — |  |  | (58) |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
(A)Excludes Treasury short sales. Refer to Note 17 for information regarding short sales.
Schedule of Debt Securities, Held-to-Maturity | The following table summarizes Treasury securities, held-to-maturity (“HTM”):
|  | March 31, 2025 |  | December 31, 2024
|  |  |  |  |  |  |  |  |  |  |  | Weighted Average |
|  | Outstanding Face Amount |  | Amortized Cost / Carrying Value |  | Fair Value |  | Unrecognized Gains /(Losses) |  | Number of Securities |  | Yield |  | Life (Years) |  | Amortized Cost / Carrying Value
Treasury Securities Designated as HTM: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Treasury |  | $ | 25,000 |  |  | $ | 24,766 |  |  | $ | 24,767 |  |  | $ | 1 |  |  | 1 |  |  | 4.2 | % |  | 0.2 |  | $ | 24,770 |

X
- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-9 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aa) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aaa) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-5 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-5 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-5 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (aaa) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-5 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-5 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-5 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-5 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-5 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-5 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f)(4) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-5 Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-5A Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-5A Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5A -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-5A Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5B -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5B -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B + Details
Name: | us-gaap_HeldToMaturitySecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration