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Borrowings and Financing Activities (Tables)

9 Months Ended

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