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Securities Held-to-Maturity
 12 Months Ended
Dec. 31, 2023
Securities Held-to-Maturity [Abstract]  
Securities Held-to-Maturity

6. Securities Held-to-Maturity

The following table is a summary of the Company’s securities held-to-maturity:

 

December 31,
2023

  

December 31,
2022

Debt instruments: Pass-through GSEs (amortized cost)

  

$

230

  

$

259

During the years ended December 31, 2023 and 2022, the Company received proceeds of $29 and $45, 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,
   

2023

  

2022

Cost/amortized cost

  

$

230

  

$

259

Gross unrealized losses

  

 

(15)

  

 

(20)

Gross unrealized gains

  

 

—

  

 

—

Fair value

  

$

215

  

$

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 maturity date:

 

December 31,
   

2023

  

2022

Due within one year

  

$

—

  

$

—

Due one year through five years

  

 

—

  

 

—

Due five years through ten years

  

 

22

  

 

27

Due over ten years

  

 

208

  

 

232

Total

  

$

230

  

$

259