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Securities Held-to-Maturity (Tables) | 12 Months Ended
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Dec. 31, 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
December 31, 2024 |  |  |  |  |  |  |  |  |
APL certificates | $ | 192,791 |  |  | $ | 134,834 |  |  | $ | (22,803) |  |  | $ | 112,031 |  |  | $ | 1,658 |
B Piece bonds | 37,221 |  |  | 22,320 |  |  | 10,157 |  |  | 32,477 |  |  | 9,188 |
Total | $ | 230,012 |  |  | $ | 157,154 |  |  | $ | (12,646) |  |  | $ | 144,508 |  |  | $ | 10,846 |
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):
| Year Ended December 31, 2024 |  | Year Ended December 31, 2023
| APL Certificates |  | B Piece Bonds |  | Total |  | APL Certificates |  | B Piece Bonds |  | Total
Beginning balance | $ | 2,272 |  |  | $ | 3,984 |  |  | $ | 6,256 |  |  | $ | 2,783 |  |  | $ | 370 |  |  | $ | 3,153 |
Provision for credit loss expense/(reversal) | (614) |  |  | 5,204 |  |  | 4,590 |  |  | (511) |  |  | 3,614 |  |  | 3,103 |
Ending balance | $ | 1,658 |  |  | $ | 9,188 |  |  | $ | 10,846 |  |  | $ | 2,272 |  |  | $ | 3,984 |  |  | $ | 6,256 |

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