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Borrowings and Financing Activities (Tables) | 9 Months Ended
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Sep. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Debt | As of the dates indicated, the carrying value of our debt is as follows.
Borrowings |
($ in thousands) |  | Interest rate |  |  | September 30, 2025 |  |  | December 31, 2024 |
Senior notes |  |  |  |  |  |  |  |  |
Senior Notes due 2027 |  |  | 4.875 | % |  | $ | 448,292 |  |  | $ | 447,461 |
Senior Notes due 2029 |  |  | 6.200 | % |  |  | 618,959 |  |  |  | 617,876 |
Total senior notes |  |  |  |  | $ | 1,067,251 |  |  | $ | 1,065,337 |
($ in thousands) |  | Average interest rate (1) |  |  | September 30, 2025 |  |  | December 31, 2024 |
Other Borrowings |  |  |  |  |  |  |  |  |
FHLB advances due 2025 |  |  | 4.490 | % |  | $ | 47,244 |  |  | $ | 36,143 |
FHLB advances due 2026 |  |  | 4.414 | % |  |  | 5,270 |  |  |  | 1,835 |
FHLB advances due 2027 |  |  | 2.562 | % |  |  | 7,887 |  |  |  | 7,887 |
Total other borrowings |  |  |  |  | $ | 60,401 |  |  | $ | 45,865 |
(1) As of September 30, 2025. See “FHLB Advances” below for more information.
Schedule of Interest Expense | Interest expense consists of the following.
Interest expense |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(In thousands) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Senior notes |  | $ | 15,819 |  |  | $ | 20,945 |  |  | $ | 47,429 |  |  | $ | 64,229 |
FHLB advances |  |  | 1,107 |  |  |  | 538 |  |  |  | 2,409 |  |  |  | 2,027 |
Revolving credit facility |  |  | 258 |  |  |  | 409 |  |  |  | 1,263 |  |  |  | 925 |
Loss on extinguishment of debt |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,275 |
Total interest expense |  | $ | 17,184 |  |  | $ | 21,892 |  |  | $ | 51,101 |  |  | $ | 71,456 |

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