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Securities Held-to-Maturity

6 Months Ended

Jun. 30, 2023

Text Block [Abstract]

Securities Held-to-Maturity

6. Securities

Held-to-Maturity

The following table is a summary of the Company’s securities

held-to-maturity:


	June 30, 2023		December 31, 2022
Debt instruments: Pass-through GSEs (amortized cost)	$	245	$	259

During

the six months ended June 30, 2023 and 2022, the Company received proceeds of $14 and $31, respectively, from

held-to-maturity

securities maturing or being called prior to maturity.

The following table summarizes unrealized losses, gains and fair value (classified as Level 2 within the fair value hierarchy) of securities

held-to-maturity:


	June 30, 2023		December 31, 2022
Cost/amortized cost	$	245	$	259
Gross unrealized losses		(19)		(20)

Fair value	$	226	$	239

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 the maturity date:


	June 30, 2023		December 31, 2022
Due within one year	$	—	$	—
Due one year through five years		—		—
Due five years through ten years		24		27
Due over ten years		221		232

Total	$	245	$	259