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Securities Held-to-Maturity

12 Months Ended

Dec. 31, 2024

Securities Held-to-Maturity [Abstract]

6. Securities Held-to-Maturity

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

		December 31, 2024				December 31, 2023
Debt instruments: Pass-through GSEs (amortized cost)		$	206			$	230

During the years ended December 31, 2024 and 2023, the Company received proceeds of $24 and $29, respectively, from held-to-maturity securities maturing or being called prior to maturity.

The following table summarizes unrealized losses and fair value (classified as Level 2 within the fair value hierarchy) of securities held-to-maturity:

	December 31,
	2024			2023
Cost/amortized cost	$	206		$	230
Gross unrealized losses		(19	)		(15	)
Fair value	$	187		$	215

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,
	2024		2023
Due within one year	$	—	$	—
Due one year through five years		—		—
Due five years through ten years		18		22
Due over ten years		188		208
Total	$	206	$	230