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Securities Held-To-Maturity (Tables) | 9 Months Ended
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Sep. 30, 2024
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity [Abstract] |
Schedule of Securities Held-To-Maturity | A summary of our securities held-to-maturity is as follows (in thousands):
| Face Value |  | Net Carrying Value |  | Unrealized Gain (Loss) |  | Estimated Fair Value |  | Allowance for Credit Losses
September 30, 2024 |  |  |  |  |  |  |  |  |
APL certificates | $ | 192,791 |  |  | $ | 133,272 |  |  | $ | (20,537) |  |  | $ | 112,735 |  |  | $ | 1,831 |
B Piece bonds | 37,399 |  |  | 22,755 |  |  | 9,510 |  |  | 32,265 |  |  | 8,733 |
Total | $ | 230,190 |  |  | $ | 156,027 |  |  | $ | (11,027) |  |  | $ | 145,000 |  |  | $ | 10,564 |
December 31, 2023 |  |  |  |  |  |  |  |  |
APL certificates | $ | 192,791 |  |  | $ | 128,865 |  |  | $ | (31,331) |  |  | $ | 97,534 |  |  | $ | 2,272 |
B Piece bonds | 37,704 |  |  | 26,414 |  |  | 5,442 |  |  | 31,856 |  |  | 3,984 |
Total | $ | 230,495 |  |  | $ | 155,279 |  |  | $ | (25,889) |  |  | $ | 129,390 |  |  | $ | 6,256 |
Schedule of Changes in the Allowance for Credit Losses | A summary of the changes in the allowance for credit losses for our securities held-to-maturity is as follows (in thousands):
| Three Months Ended September 30, 2024 |  | Three Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |
| APL Certificates |  | B Piece Bonds |  | Total |  | APL Certificates |  | B Piece Bonds |  | Total |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 2,290 |  |  | $ | 6,842 |  |  | $ | 9,132 |  |  | $ | 3,375 |  |  | $ | 1,159 |  |  | $ | 4,534 |  |  |  |  |  |  |  |  |  |  |  |
Provision for credit loss expense/(reversal) | (459) |  |  | 1,891 |  |  | 1,432 |  |  | (1,035) |  |  | 2,444 |  |  | 1,409 |  |  |  |  |  |  |  |  |  |  |  |
Ending balance | $ | 1,831 |  |  | $ | 8,733 |  |  | $ | 10,564 |  |  | $ | 2,340 |  |  | $ | 3,603 |  |  | $ | 5,943 |  |  |  |
| Nine Months Ended September 30, 2024 |  | Nine Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 2,272 |  |  | $ | 3,984 |  |  | $ | 6,256 |  |  | $ | 2,783 |  |  | $ | 370 |  |  | $ | 3,153 |  |  |  |  |  |  |  |  |  |  |  |
Provision for credit loss expense/(reversal) | (441) |  |  | 4,749 |  |  | 4,308 |  |  | (443) |  |  | 3,233 |  |  | 2,790 |  |  |  |  |  |  |  |  |  |  |  |
Ending balance | $ | 1,831 |  |  | $ | 8,733 |  |  | $ | 10,564 |  |  | $ | 2,340 |  |  | $ | 3,603 |  |  | $ | 5,943 |  |  |  |  |  |  |  |  |  |  |  |

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