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Securities Held-to-Maturity
12 Months Ended
Dec. 31, 2022
Text Block [Abstract]  
Securities Held-to-Maturity
7. Securities
Held-to-Maturity
The following table is a summary of the Company’s securities
held-to-maturity:
 
 
 
December 31,
2022
 
 
December 31,
2021
 
Debt instruments: Pass-through GSEs (amortized cost)
  $
 
 
 
 
 
 
 
 
 
 
 
259    
 
  $
 
 
 
 
 
 
 
 
 
 
 
 
308    
 
 
 
 
 
 
 
 
 
 
During the years ended December 31, 2022 and 2021, the Company received proceeds of $45 and $136, respectively, from
held-to-maturity
securities maturing or being called prior to maturity.
 
The following table summarizes unrealized gains, losses, and fair value (classified as Level 2 within the fair value hierarchy) of securities
held-to-maturity:
 
 
  
December 31,
 
  
2022
 
2021
Cost/amortized cost
 
 
$
259
 
 
  $ 308
 
 
Gross unrealized losses
    (20      
Gross unrealized gains
    —         13  
 
 
 
 
 
 
 
 
 
Fair value
  $
 
 
 
 
 
 
 
 
 
 
 
 
239
    $
 
 
 
 
 
 
 
 
 
 
 
 
321
 
 
 
 
 
 
 
 
 
 

An allowance for credit losses was not provided on the Company’s
held-to-maturity
securities as all securities are investments in pass-through GSEs which are determined to have an estimated loss rate of zero due to an implicit U.S. government guarantee.
The following table sets forth the maturity profile of the securities
held-to-maturity;
however, these securities may be called prior to maturity date:
 
 
  
December 31,
 
  
2022
 
2021
Due within one year
   $ —        $ —    
Due one year through five years
            —    
Due five years through ten years
     27        —    
Due over ten years
     232
 
 
     308
 
 
 
 
 
 
 
 
 
 
 
Total
   $
 
 
 
 
 
 
 
 
 
 
 
 
259
     $
 
 
 
 
 
 
 
 
 
 
 
 
 
308