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v3.26.1

Securities Held-To-Maturity (Tables) | 3 Months Ended
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Mar. 31, 2026
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
March 31, 2026 |  |  |  |  |  |  |  |  |
APL certificates | $ | 192,791 |  |  | $ | 142,427 |  |  | $ | (15,817) |  |  | $ | 126,610 |  |  | $ | 1,473 |
B Piece bonds | 32,670 |  |  | 13,042 |  |  | 9,585 |  |  | 22,627 |  |  | 13,652 |
Total | $ | 225,461 |  |  | $ | 155,469 |  |  | $ | (6,232) |  |  | $ | 149,237 |  |  | $ | 15,125 |
December 31, 2025 |  |  |  |  |  |  |  |  |
APL certificates | $ | 192,791 |  |  | $ | 140,682 |  |  | $ | (15,143) |  |  | $ | 125,539 |  |  | $ | 1,664 |
B Piece bonds | 36,730 |  |  | 15,405 |  |  | 9,203 |  |  | 24,608 |  |  | 15,349 |
Total | $ | 229,521 |  |  | $ | 156,087 |  |  | $ | (5,940) |  |  | $ | 150,147 |  |  | $ | 17,013 |
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 March 31, 2026 |  |
| APL Certificates |  | B Piece Bonds |  | Total |  |  |  |  |  |
Beginning balance | $ | 1,664 |  |  | $ | 15,349 |  |  | $ | 17,013 |  |  |  |  |  |  |
Provision for credit loss expense/(reversal) | (191) |  |  | 2,400 |  |  | 2,209 |  |  |  |  |  |  |
Charge-offs | — |  |  | (4,097) |  |  | (4,097) |  |  |  |  |  |  |
Ending balance | $ | 1,473 |  |  | $ | 13,652 |  |  | $ | 15,125 |  |  |  |  |  |  |
| Three Months Ended March 31, 2025 |  |
Beginning balance | $ | 1,658 |  |  | $ | 9,188 |  |  | $ | 10,846 |  |  |  |  |  |  |
Provision for credit loss expense/(reversal) | 1 |  |  | (80) |  |  | (79) |  |  |  |  |  |  |
Ending balance | $ | 1,659 |  |  | $ | 9,108 |  |  | $ | 10,767 |  |  |  |  |  |  |

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