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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Net income $ 82,022 $ 74,603 $ 223,375 $ 231,898
Available-for-sale debt securities:        
Net unrealized holding losses on debt securities [1] (78,976) (270,937) (46,585) (778,694)
Other comprehensive loss for the period (78,976) (270,937) (46,585) (778,694)
Total comprehensive income (loss) $ 3,046 $ (196,334) $ 176,790 $ (546,796)
[1]
Net unrealized holding losses on available-for-sale debt securities have no tax effect because securities are either tax-exempt, held by an International Banking Entity (“IBE”), or have a full deferred tax asset valuation
allowance.