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Borrowings and Financing Activities (Tables)
9 Months Ended
Sep. 30, 2023
Long-Term Debt, Unclassified [Abstract]  
Schedule of Debt
The carrying value of our debt as of the dates indicated was as follows.
Borrowings
($ in thousands) Interest rateSeptember 30,
2023
December 31,
2022
Senior notes
Senior Notes due 20244.500 %$448,723 $447,805 
Senior Notes due 20256.625 %521,820 520,305 
Senior Notes due 20274.875 %446,144 445,394 
Total senior notes$1,416,687 $1,413,504 
($ in thousands)
Average interest rate (1)
September 30,
2023
December 31,
2022
Secured borrowings
FHLB advances
FHLB advances due 20234.666 %$64,745 $104,895 
FHLB advances due 2024 (2)
3.325 %32,371 32,371 
FHLB advances due 20252.340 %12,684 9,984 
FHLB advances due 20264.469 %1,835 — 
FHLB advances due 20272.562 %7,887 6,436 
Total FHLB advances119,522 153,686 
Mortgage loan financing facilities7.050 %122,231 2,136 
Total secured borrowings$241,753 $155,822 
(1)As of September 30, 2023. See “FHLB Advances” and “Mortgage Loan Financing Facilities” below for more information.
(2)Includes $13 million of floating-rate advances with a weighted average interest rate of 5.51% and 3.62% as of September 30, 2023, and December 31, 2022, respectively, which resets daily based on changes in SOFR.