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Variable Interest Entities
3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Variable Interest Entities Variable Interest Entities
An entity that has a controlling financial interest in a VIE is referred to as the primary beneficiary and consolidates the VIE. An entity is deemed to have a controlling financial interest and is the primary beneficiary of a VIE if it has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE.
    
We have no consolidated VIEs as of March 31, 2025 and December 31, 2024.
In connection with non-qualified mortgage securitization activities, we have retained a 5% percent interest in the investment securities of certain trusts. Although we have a variable interest in these securitization trusts, we are not their primary beneficiary. As a result, we have not consolidated the assets and liabilities of the VIE in our Condensed Consolidated Statements of Condition. The Bank’s maximum exposure to loss is limited to our 5% percent retained interest in the investment securities that had a fair value of $162 million as of March 31, 2025 as well as the standard representations and warranties made in conjunction with the loan transfers.