XML 43 R31.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2

Investment Securities (Tables)

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Investment Securities

Our available-for-sale investment securities were as follows:

			Amortized cost						Gross unrealized gains						Gross unrealized losses						Fair value
			(In thousands)
March 31, 2024
Corporate bonds			$	10,000					$	—					$	(333)					$	9,667
Agency bond securities			240,492						—						(41,965)						198,527
Agency mortgage-backed securities			2,292,157						—						(344,683)						1,947,474
Municipal bonds			29,309						—						(6,005)						23,304
Total investment securities			$	2,571,958					$	—					$	(392,986)					$	2,178,972
December 31, 2023
Corporate bonds			$	10,000					$	—					$	(374)					$	9,626
Agency bond securities			240,447						—						(40,217)						200,230
Agency mortgage-backed securities			2,337,411						—						(333,901)						2,003,510
Municipal bonds			29,408						—						(5,773)						23,635
Total investment securities			$	2,617,266					$	—					$	(380,265)					$	2,237,001

Schedule of Available-for-sale Securities, Unrealized Loss Position

As of March 31, 2024 and December 31, 2023, the gross unrealized losses and fair values of available-for-sale investment securities that were in unrealized loss positions were as follows:

			Less than 12 months												12 months or more												Total fair value						Total unrealized loss
			Fair value						Unrealized loss						Fair value						Unrealized loss
			(In thousands)
March 31, 2024
Corporate bonds			$	—					$	—					$	9,667					$	(333)					$	9,667					$	(333)
Agency bond securities			—						—						198,527						(41,965)						198,527						(41,965)
Agency mortgage-backed securities			2,219						(1)						1,945,250						(344,682)						1,947,469						(344,683)
Municipal bonds			—						—						23,304						(6,005)						23,304						(6,005)
Total investment securities			$	2,219					$	(1)					$	2,176,748					$	(392,985)					$	2,178,967					$	(392,986)
December 31, 2023
Corporate bonds			$	—					$	—					$	9,626					$	(374)					$	9,626					$	(374)
Agency bond securities			—						—						200,230						(40,217)						200,230						(40,217)
Agency mortgage-backed securities			—						—						2,001,270						(333,901)						2,001,270						(333,901)
Municipal bonds			—						—						23,636						(5,773)						23,636						(5,773)
Total investment securities			$	—					$	—					$	2,234,762					$	(380,265)					$	2,234,762					$	(380,265)

Schedule of Maturity Dates for Available-for-Sale Investment Securities

As of March 31, 2024, the contractual maturities of our available-for-sale investment securities were as follows:

			Amortized cost						Fair value
			(In thousands)
Due in one year or less			$	60,691					$	60,117
Due after one year through five years			81,268						72,799
Due after five years through ten years			144,224						117,497
Due after ten years			54,309						41,202
Mortgage and asset-backed securities			2,231,466						1,887,357
Total investment securities			$	2,571,958					$	2,178,972

X

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

+ Details

Name:	us-gaap_DebtSecuritiesAvailableForSaleTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479081/326-30-55-8

Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-6

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479106/326-30-50-4

+ Details

Name:	us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

+ References

No definition available.

+ Details

Name:	us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration